Salespeople 'must be careful when making concessions'

Salespeople must tread a fine line when making concessions to clients in a bid to close a deal, as going too far or offering them too soon can significantly reduce the value of the transaction.

Writing on the Fearless Selling blog, Kelley Robertson said that two common mistakes are that sales staff make too many concessions without receiving something in return or make them too quickly.

Doing either of these will ultimately see the seller lose out and the value of the transaction cut, meaning executives may wish to bring in the expertise of a sales consultancy to improve their team's negotiating skills.

On making too many concessions without receiving anything in return, Mr Robertson said that if the client refuses to concede ground as well then a salesperson is simply negotiating against themselves.

With regards to offering them too quickly, he added: "When you make people wait before you concede something, you increase the value of that concession and you subconsciously tell them that if they keep asking for concessions, the negotiating process will take longer."

Bringing in a sales consultancy to improve the negotiating skills of staff could prove a sound investment, as companies' buying processes have changed over the last couple of years meaning salespeople must adapt their selling techniques to mirror this trend, John Gorman, writing on the Beyond the Boardroom blog, said recently.