3 Negotiation Takeaways from Car Buying

Whether you are working a huge deal with a client, trying to get a pay raise, or desire more responsibility in the workplace, knowing how to negotiate is crucial.  However, learning how to negotiate is not something that comes easily and there is much more to it than you will ever learn in business school.  While they are often despised by many people, the truth is there is a lot you can learn from a car salesman.  Despite the stereotypes that car salesman are dishonest and use tricky tactics to rope people in, the fact is many of them are actually skilled negotiators.  If they didn’t know how to maintain the upper hand, they would simply be out of business.  Becoming familiar with the tactics of car salesmen can help you to become a more successful negotiator in the workplace.  Here are 3 negotiation strategies that you can take away from a car salesman.

You Have to Know Your Product

If you have ever been in a situation where you knew more about a product than the person selling it, chances are you didn’t buy from that person.  Knowing your product or service inside and out is the key to building credibility and trust with your client.  Most car salesmen can tell you everything you need to know about the make and model of each car on the lot.  They can help you compare and contrast the features of each and they are knowledgeable about their inventory.   Take the time to develop a full understanding of what you are selling so you can relay that information to your customers.  Be prepared to answer any questions they might have and be ready to explain why your product or service can be useful to them.  The more knowledgeable you are about the product you are selling, the more likely you will be to get the sale.

You Have to Know Your Customer

It is very difficult to sell a product to someone who doesn’t need it.  Car salesmen learn about their customers and get to know their needs.  They would not spend time trying to sell a 2-door sports car to a family of five.  It is important to ask questions and find out what your customer is looking for.  What are they inquiring about the most? What are the demographics of your customers? What is important to them and what’s not?  What are their specific needs?  The more information you can gather about your customers the easier it will be for you to serve them and provide them with a product or service that will meet their needs.

Pull on the Emotional Heartstrings

A great car salesman knows that the biggest part of maintaining the upper hand in a negotiation isn’t about the details of the deal itself, as it is the emotions controlling the deal.  If the car salesman can pull your heartstrings and tap into the emotions of the customer, they know the deal will fall right into their hands.  They do this by taking the customer for a test drive and allowing them to imagine themselves in the car.  This same tactic can be used in any business deal.  Find out what the emotional needs of the customer are and work to meet them.  Make sure they see how your product or service is going to make their life or business better.