A good understanding of human behaviour can reap dividends during sales negotiations
Deal-making has long been thought of as a dark art. But is it more akin to a science? Mounting evidence suggests that by taking an analytical approach to assessing human behaviour, we could give ourselves an edge.
“Traditionally, sales has been thought of by many as a business of ‘gut feel’, where some have got it, and some simply don’t,” says professor Nick Lee of Warwick Business School, an expert in the psychology and neuroscience of sales and marketing. “However, there is a vast and growing knowledge of how humans make decisions and evaluate information that can be applied to the sales force; from behavioural economics to psychology, neuroscience and many other fields.”
So what happens to the brain when we haggle – are there subtle signs we can spot when someone is ready to make a deal?