How To Get The Most Out Of Each Buyer

How to get the most out of each buyerDeveloping client relationships is one of the most important parts of any salesperson’s job, as finding new customers and creating a rapport with them is a way to generate more revenue.

A sales management team may want to instruct their representatives to develop their relationships with clients to the point that they are comfortable in asking for more business and expanding the scope of their purchases.

One of the best things to negotiate with a client is the terms of the business relationship. The longer the commitment that they can make, the better the price point will often be, according to Heather Kivett, President of Resolution Systems, Inc., a sales training and consulting firm.

“The higher the volume they buy, the bigger the discount,” said the executive. “That would apply to existing customers or new prospects.”

A sales management team may also want to use specific examples in an effort to outline their point. Representatives could learn from the telecom industry’s use of extending contracts and using price to negotiate, according to Kivett.

Another industry that may serve as an example is the mortgage industry, where you can buy down the interest rate using points. This type of relationship is maintained through higher up-front expenses but a lower long-term cost, noted the executive.

The relationship between the rep and the buyer needs to expand over the course of the negotiations, as the salesperson needs to direct his or her questions directly to the potential needs of the customer.

“You need to find out what is important to the prospect and negotiate from there with cost and value-adds,” said Kivett. “Ask the right questions beyond the scope of the product and service you are selling to find out what is important to the customer.”

Representatives need to bring a specific value to the relationship and this asset does not always have to be price. There may be other things that the salesperson can provide the buyer through the course of their transaction, according to Kivett.

It is important for representatives to get the buyer to look at the whole picture. Salespeople need to sell themselves as more than someone who can control the price or the specific product or service, they need to offer something that distinguishes themselves from the competitors.