If you want to be a savvy shopper, you’re going to need some basic negotiation skills in order to get a great price. It’s not always easy to get the best deal, but if you play your cards right, there are great deals to be made! Let’s explore some ways you can get discounts that keep your wallet nice and plump!
Confidence Can Be Found
One major hurdle for people can be finding the confidence to negotiate in the first place. Christians can especially feel awkward when they are put into confrontational situations. But why be timid? The essence of our capitalistic economy involves negotiation and positive conflict. Businesses aren’t afraid to set prices, so why are we afraid to question those prices?
I’m convinced that those who are concerned about putting themselves into difficult situations can find confidence. If you don’t feel strong enough to walk into a department store and negotiate the price of an item, act as though you are strong enough! It’s amazing how our behavior can result in feelings of confidence.
Remember, you are looking out for your wellbeing. Negotiation is acceptable and you have every right to do so. Be kind about it, but be firm in your tactics. With that being said, let’s move into how you can use three simple techniques for negotiating price.
Three Techniques In Price Negotiation
1. Understand the industry.
Some industries are easier than others to negotiate on price. But more importantly, it is vital to understand how the business sets its price. Corporations can be more difficult than others when it comes to price negotiation. Small businesses are more easily flexible, as they don’t have to adhere to a pricing model set forth by higher powers.
Educating yourself on the product you are seeking and comparing competition can be valuable legwork. Entering into negotiation well-informed will be an advantage as you attempt to lower standard pricing. For example, if you know that Business A will sell you a dishwasher for $300 with installation and Business B will sell you the same dishwasher for $250 without installation, ask Business A for a $50 discount. Use your knowledge to get the best of both worlds! You never know, you just might end up with a dishwasher for $250 PLUS installation!
2. Be patient.
This is one of the strongest techniques for getting the best price. Remember, you are the one with the cash! You don’t have to give it up until YOU are ready. While the salesperson is trying to sell you that million-inch flat screen LCD, do as one famous actor might have done:
Talk low, talk slow, and don’t say too much. -John Wayne
Patience will reap you huge rewards. As a salesperson myself, I know that I always have something “in my back pocket.” Usually, I’m not willing to give it up if the customer is biting at every offer I throw their way. The lesson? Let the salesperson talk. Don’t say much. Talk low. Talk slow! It makes it 1000 times more uncomfortable for salespeople to hold onto their best offers when the customer isn’t talking.
3. Walk when appropriate.
That’s right, book it out of there if you feel you’re not getting the best deal! Explain to the salesperson that you might shop around if you think you can get better deals elsewhere. If you really want the better deals, come back a day later and explain you might still be interested in the product. Tell the salesperson you are “thinking about it.” This goes hand in hand with patience. Walking away a few times will prep many businesses to give you the better deal.
You’ll Certainly Build Character!
Using price negotiation might be stressful at first, but you’ll surely save money while building character! You’ll be a stronger, healthier person when you seek out the best deals. Don’t be unfriendly. You CAN be quite pleasant as you negotiate price. It might take a few tries, but you’ll get the hang of it. Are you ready to give it a whirl?
What are some ways you’ve negotiated price in the past? What are some of your best tactics?
Photo by eleda 1
{ 7 comments… read them below or add one }
I have found the best thing to do is just ask! It’s amazing how many deals are available if you ask. Great article John.
Great post John. I agree, there’s nothing “un-Christian” about negotiations. In fact, negotiating makes me think of biblical marketplaces where everything was haggled or traded.
Another important note is that in many industries, negotiation is expected and prices are set purposely high. This happens in many industries like home sales, mattress stores, or jewelry shops. And take cars (my specialty) for example. Manufacturers don’t expect anyone to pay full price or MSRP. Their model is to set a high price and allow negotiating room to let people feel like they are getting a deal.
I agree in principle with most of the points of this article. However, I believe you have to have a certain characteristic that helps too, and if you do not have it, you will not negotiate the best deal.
I have a friend who is tenacious and that quality does not hurt either. He can wear a salesperson down.
Like any sort of public speaking, practice makes perfect. The same goes for negotiations. The first 5 times will never feel comfortable, but you have to push through it to get more comfortable and get the results you deserve.
Remember, if you don’t feel uncomfortable you’re probably not pushing yourself hard enough.
Great topic, John.
I’ve negotiated a bit of a higher salary than was originally offered in my current position.
There are certain principles that I’ve found to help you get a better deal. Here are three:
1) Don’t be under time pressure – If you are, the other party will be in a better position to get a better deal for them. You’re more likely to give in.
2) Be informed – Know what you’re buying and all the costs involved. Simple tip, but if you don’t know the costs, you won’t know if it’s necessary or how to negotiate it.
3) Understate your offer and be flexible – Both sides want to win. If you start lower than your intended amount and negotiate with them, they also get a feeling of winning in the negotation. Both sides will be happier.
One key for negotiation is to be willing to walk away. Most people fail at negotiating because they are scared of losing out and thus either take what’s given or give in too quickly.
Point #2 touches on this. People will talk themselves out of a deal if given the opportunity.
BTW, there’s nothing un-Christian about negotiating. You should be a good steward of what God has given you. I think my fellow Americans have a big problem with haggling. Other cultures haggle all day long. It’s expected, it’s normal and it’s perfectly okay. However, in the USA we feel as if we have to take what’s given (gee, what a perfect company environment).
Great tips from a salesman like you. I know how to haggle at market places because folks there are easy to talk with- they just like friendly people and are generally willing to lower their prices when you buy their product in bulk. I do however have difficulty in haggling with a sales person. When what they offer is really costly but it’s just so hard to negotiate on prices. I feel quite ashamed whenever I face them. But then, talk low, talk slow, and don’t say too much maybe I could learn that. And thank you Austin for saying that the first 5 tries are really uncomfortable…it’s true, but if it saves you money, it’s worth it right?!