Negotiation is a part of our every day. It is a fundamental life skill that can help you go a long way. Think of your last few weeks/months. Have you bought something new? Did you speak to your boss for a raise? Did you need to convince your partner to pick up Chinese food instead of Indian? Have you had to discuss and finalize weekend plans? Whether you realize it or not, you engage in negotiation often. Mastering this art and understanding sales psychology can make a significant difference in your success in business.

Forging Relationships
At the heart of negotiations and successful sales lies the art of building relationships. People will buy from you if there is trust and a connection. Focus on forming a genuine relationship with your customers. Do not overdo it as you may come across as fake. Listen to their needs, understand their pain points, and show empathy. It is the little things that make people feel seen and heard. Remember, it’s not only about selling a product; it’s about solving a problem for your customers.

The Psychology of Persuasion
Understanding sales psychology is like having a secret weapon in negotiations. Or a wild card in Uno. It is about influencing potential clients in a way that feels natural and beneficial. Reciprocity is important and powerful. It implies that when you give something of value to your customers, they’re more likely to reciprocate. You could provide them with useful information. Maybe a free trial, or a sample — anything that provides value. By tapping into the innate human desire to give back when something is received, you increase the chance of a positive outcome.

Framing and Anchoring
Framing and anchoring are essential techniques in negotiation and sales. Framing involves presenting your product in a way that highlights its benefits and value. Anchoring involves setting a reference point for the negotiation. For example, start with a higher price and then offer a discount to make the actual price seem reasonable. By starting higher, you shape the customer’s expectations. This makes the actual price attractive.

Handle Objections Well
Your clients will have doubts or questions about what you offer them. This is but natural. View these as opportunities to address their concerns and provide solutions. Understand the psychology behind their queries to be able to provide effective answers.

In the MakingBank episode Season 7 Episode 51, Brian Will emphasizes the need to figure out probable objections before the client brings them up. In doing so, you appear prepared. This leaves your customer feeling confident about you.

Pay Attention To Body Language
Non-verbal cues play a significant role in negotiations. Your body language can convey confidence, trustworthiness, and assertiveness. Maintain eye contact, use open gestures, and be aware of your tone of voice. Positive body language helps create a comfortable environment. A welcoming posture or a genuine smile can build a connection that words alone might struggle to.

Mastering the art of negotiations and sales psychology is a continuous journey. Stay curious, be open to learning from experts, and practice regularly. The more you hone your skills, the more confident and effective negotiator you will be!