After almost 30 years as a professional negotiator you would
think you would have been there- done that and had the t-shirt to prove it -
click here to see how old dogs can learn new tricks.
As many of you may have figured out, I am a TEC/Vistage
member which is a group of CEO’s that get together once a month and act as each
other’s advisory board. This month’s guest speaker was Bob Gibson of San
Francisco- based [Negotiation Resources] (www.thenegotiating experts.com) Bob’s
presentation centered on training our sales staff to not leave money on the
table whether it is with new or existing customers.
The presentation covered the standard
negotiating gambits like “The Flinch” and “The Squeeze” but also presented a
different perspective on “The Nibble”.
To refresh your memories- the Nibble happens when you think the sale is
done and then the customer asks for a little more- a full tank of gas with the
new car- an earlier delivery date- Can you throw in a tie with that new suit?
The usual counter tactic to “The Nibble” is to make the buyer
feel cheap for asking by saying something like: “Come on Jack, you have negotiated
yourself a heck of a deal here and now you want more!?”
This counter tactic will likely stop the Nibbling; however
it runs the huge risk of alienating the customer so they won’t buy from you
again. In fact most sales people will not use this tactic because they don’t
feel like the buyers equal in the negotiation so they give in- and give away
your profits!
Gibson suggests the best way to stop being nibbled is to use
what he calls the “Swap-Out”. A Swap –out means just what is says. When you get
Nibbled, swap it for something you want instead of just giving away.
The Swap-out response to the Nibble may look something like
this: “That might be possible. If I can get that done for you, what are the
chances of you ……?”
Gibson recommends having at least 6 Swap–out ideas in your
mind before going into any negotiation. The Swap – out keeps the conversation
going and doesn’t risk offending the other party. The types of Swap-outs are
only limited by your imagination. Mastering the Swap-Out will put your sales
staff on the same level as your customer or prospect and make you more
profitable.
