Friday, 20 June 2014

Selling and Negotiating

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Kate Faragher, from BeSpoke Skills, was in the studios earlier this month running a sales and negotiation workshop for our New Creative Markets participants.
Here are her top 7 tips on selling and negotiating:
1. It takes 7 to 12 meetings to turn a relationship into a sale, so make friends with your customers and decision makers. Find reasons to hook up with them and keep in touch by sending relevant information.
2. Buyers need reasons to buy. They need their fears and worries rationalised.
Identify what’s stopping them from buying and be ready with comparative prices like ‘it’s the same price as a sofa yet it will never wear out and you can pass it down your family for generations’.
“When I buy I create my own reason to buy something beautiful. Sometimes I have it as a reward for achieving a goal. Recently I bought an expensive bag after a successful work trip in Ghana. I’d been to the shop at least 5 times and had fallen in love with it, long before I bought it.”
3. Authentic selling isn’t making someone buy what they don’t want but realising what they do want and how it will enhance their lives. Things enhance our lives, if they help represent who we are.
Know what your qualities are and what your products represent. Then match them to what is important to your buyer.
Madeliene Albright changes her brooch every day to represent what she’s going to talk about or think about that day. We buy and display things to say “This is who I am”

Albright’s book “Read my Pins”
4. Don’t be afraid to name drop subtly. The Queen, the Pope and many celebrities own, use and display the work of Makers at Cockpit.  We like our buying choices to be affirmed. If we know someone we like or admire has bought from you, it will reduce our fear and increase the likelihood of buying.
5. Negotiating is getting clear about your boundaries. What is your ideal outcome. Name it, know it and write it down. Then decide your walk away points.
6. Know your figures. You need to know the hours it takes you to make a piece, the monthly income you need to achieve and the mark up you need to put on your work. If you know your figures your walk away points are clear and the clarity behind those figures empower you.
7. Get the buyer to name their ideal price first. Then you know their starting point and if you are both in the same game!

About the Trainer
Kate Faragher has been a trainer for 16 years. She has coached and been a consultant in the banking, corporate and entrepreneurial sector

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