Up to this point, we’ve talked about a hodgepodge of things that you can do when you’re negotiating terms with your wholesale suppliers. Each of these tactics has specific advantages, and while not all of them will pay off they’re all worth noting.
Today, we want to focus in on one important aspect of the negotiation: the salesperson. Understanding how to handle a salesperson will make or break your negotiation process.
Be Friendly
Salespeople have limited parameters in which they can work. If they’re not permitted to offer the discount or the terms that you’re looking for, it can help to be friends. If the salesperson likes you, they’re more likely to go to bat for you to their sales manager.
Being friendly doesn’t just mean being personable, however. It also means being conscious of the salesperson’s needs. If they need to hit a certain target, for example, you need to demonstrate that you’re an important part of meeting that target, and that you want them to succeed.
Conversely, if the salesperson doesn’t like you, you may wind up paying a premium. They see doing business with you as a hassle, and they’re not likely to put themselves out in order to help you, whether its with a better price or even a rush order.
Know Their Weaknesses
If you can find out when your salesperson’s target sales dates are, you might be able to negotiate better in the days leading up to that date. In many cases, a wholesale supplier’s salesperson’s goals are based more on volume or profit. You may be able to squeeze a better discount from your salesperson if they’re close to their deadline.
Learn from Experience
After you finish talking to a salesperson, make some notes. Note what their approach is, and think about how best to approach them during the process the next time around. Rehearse the arguments you want to use the next time, and use the figures they provide to you today for ammunition tomorrow.
At the same time, you can change your approach occasionally. Keeping the salesperson on her toes means that she can’t develop a strategy to use with you over and over again.
Ultimately, the process of negotiating with your wholesale suppliers can be draining, but the potential payoffs can definitely be worth it. Take the time and effor to do it right, and it will absolutely pay off for you in the long run.
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