How to negotiate with thrifty clients?

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business-negotiation
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MJ Gonzales│ ExecutiveChronicles.com

Winning a good deal is tough particularly if you encounter demanding clients who are good negotiators. Because they know how to bargain well, you may end up agreeing to their proposals that give you little monetary rewards.  Thus, it pays to be careful in having business negotiation with them so both of you are happy in your transactions. But what you really need to do so you handle for clients who are underestimating you or  obviously thrifty?

It works for you if you are able to identify immediately the types of clients you have.  According to   Smashing Magazine; there are clients who are considered passive-aggressive who’s in the first meeting looks okay with your proposal, but will hit you with numerous comments after you submit your work; family friend; the nitpicker who looks like want to change everything you do because of their irrelevant questioning; the control freak; the dream client, the “I-Could-Do-This-Myself”-er, the under-valuer; and the scornful saver.  Notice that the last two types have one common denominator and that is to stress you out so you will lower your asking price.

“This [scornful saver] client has similarities to the nit-picker and under-valuer but is actually impressed with your work and skill set. The criticize you merely to undermine your confidence in an attempt to lower your pricing rate. Unlike some other client types, the scornful saver understands creative people and their processes. But they are cheap and manipulative, and their scheme may have worked in their favor once or twice in the past. So, they continue to subtly abuse the people they hire in the hope of saving every last penny, “the Smashing shared.

how to handle business negotiation 2
Credit: Pixabay

To counter under-valuer and scornful saver clients, you must believe in yourself and your expertise in your field.  Smashing added that these clients will eventually see your points and by being firm in your stand is strong indication for them that you’re not just any guy they meet. Meanwhile if they continue to show disrespect and manipulation, it is better to walk away.

Reading the clear sign is significant, but if you’re not good in reading client’s personality better to stick with normal approach.  This include of being prepared before your actual meeting. If he has concern about the price, you can easily breakdown the expenses and why he needs to pay those.  INC.om shared that its smart move that you do intensive research before your client meeting like about sale prices, competition and other stuff.

“When it comes to price, know the deal you want and can justify as being realistic. Never offer a discount without some other concession to counterbalance it,” Inc advised about  having pricing parameters.