Care for a nibble?
Are you a nibbler? We aren’t talking about your snacking tendencies but rather your negotiation style. If you are the type of negotiator who after agreeing to a deal asks for extra “small” things thrown in for little or no cost, you are a nibbler.
In sales, nibbling is effective because most sellers don’t want to lose out on a sale over small things. They are willing to throw in what the buyer is asking at cost or free in order to close the deal.
In general, both sellers and buyers may engage in nibbling. And most likely they will succeed. The other party rarely wants to appear miserly and will make concessions on small things. The other party wants to be seen as fair.
On the buyer side, nibbles are usually extra discounts, earlier delivery dates, higher quality merchandise than was originally negotiated, extended payment times, extra samples, free training and other extras.
On the seller side, nibbles can be extra charges, extended delivery dates, reduced services and other items that end up costing the buyer.
While there is room for nibbles, and there is nothing wrong with asking for extra stuff, both buyers and sellers should be aware of the practice. Build in some nibbles into the cost of your deal. Be prepared to stop excessive nibbling or your real cost is going to go up significantly. You could also develop a policy for nibbles. You could have a published price list on extras, for instance.
As a buyer, nibbling can pay off. But as a seller, giving in to too many nibbles can eat into your profit. Knowing when to say when is probably the best advice for both sides.
So, are you a nibbler? What have you successfully nibbled for?
In sales, nibbling is effective because most sellers don’t want to lose out on a sale over small things. They are willing to throw in what the buyer is asking at cost or free in order to close the deal.
In general, both sellers and buyers may engage in nibbling. And most likely they will succeed. The other party rarely wants to appear miserly and will make concessions on small things. The other party wants to be seen as fair.
On the buyer side, nibbles are usually extra discounts, earlier delivery dates, higher quality merchandise than was originally negotiated, extended payment times, extra samples, free training and other extras.
On the seller side, nibbles can be extra charges, extended delivery dates, reduced services and other items that end up costing the buyer.
While there is room for nibbles, and there is nothing wrong with asking for extra stuff, both buyers and sellers should be aware of the practice. Build in some nibbles into the cost of your deal. Be prepared to stop excessive nibbling or your real cost is going to go up significantly. You could also develop a policy for nibbles. You could have a published price list on extras, for instance.
As a buyer, nibbling can pay off. But as a seller, giving in to too many nibbles can eat into your profit. Knowing when to say when is probably the best advice for both sides.
So, are you a nibbler? What have you successfully nibbled for?
Labels: Negotiating In Life
posted by Karrass at
11:30 AM
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