How to Use your Negotiating Skills when Making a Purchasing Decision
In the shrewd world that is the consumer-market, having the confidence to negotiate effectively during purchasing decisions is imperative.
Us consumers are simply fed up with the unethical, manipulative tactics sellers deploy against buyers. From exploitation to misleading advertising, from overly pushy sales tactics to delivering an onslaught of spam messages—today’s customer has simply become immune to ways sellers treat us, and our hard earned money. Now is the time we step up to the corporate hand and fight fire with fire, using our negotiating skills to demand fair trade. It’s time we utilize consumer-savvy principles to disarm sellers, while have our voices heard.
Sure, not all of us are gifted with the natural ability to negotiate. Many of us suffer from an acute form of “niceness,” where conflict and confrontation coerce our thinking to avoid negotiation at all costs. However, with a little practice and experience to properly understand the basic principles that go into negotiations, you will have the confidence to use your voice as tool to get not only the best deal, but also the right deal.
Know the value of the product or service
Regardless of what it is you’re purchasing, it’s imperative that you have a well-round understanding of the product or service’s value. Conducting prior research allows you to equip yourself with information that is essential for properly conveying your message. At the end of the day, the more you know, the more the seller with feel obligated to treat you in a more deserved manner. Take advantage of third-party customer reviews, ask friends and family for their opinion, utilize databases to compare prices (e.g., compare TV providers)—and inherit every possible tactic in your arsenal to prove to your seller that you’re not to be toyed with.
Know the motivation behind your seller
After researching the value of the actual product, delve into the motive behind the seller. Arm yourself with as much information as possible pertaining to their company, their previous offerings, their customers, competitors, previous discount opportunities, etc. before the negotiation process initiates. Knowing this information is crucial in terms of giving yourself leverage to work with the seller, and come to an agreement.
Know your spending limitations before negotiating
One of the biggest assets to the negotiation process is to have a comprehensive understanding of the price a product or service is, on average. So, pre-determine the cost of something you’re planning to buy, which will force the seller to appease to your demands to not lose your business.
When in doubt, walk away
By not allowing the seller to influence your initial plan, threatening to walk away can be the most affective strategy to leverage. Depending on the seller, they may or may not be negotiable, however, losing your business is still a defeat.
Always go into the negotiation with the preconceived notion that it is the seller who will make or break the deal. By utilizing the “walk away” strategy, you influence your seller to downplay his or her own scheme and find a way to maintain your business.