Effective price negotiations for client advisors at banks

In today’s business world, it is crucial that client advisors not only have profound expertise in banking and dialogue skills, but also the ability to effectively defend their pricing structure. Clients are increasingly price-conscious and ready to compare offers from different providers.

Also, increasing digitization and the offerings of new FinTech companies are leading to price and margin erosion at traditional banks. Therefore, it is of major importance for client advisors to be competent and convincing in price negotiations.

In addition, it is essential that client advisors not only are able to apply the basic techniques of price negotiations, but also understand the underlying negotiation strategies.

This means that client advisors must learn to present the benefits of their offers clearly and convincingly, to rebut the client’s objections in a friendly and targeted manner, and to proactively manage the negotiation process. The ability to successfully conduct price negotiations and at the same time defend the company’s pricing policy is not only a question of coherent argumentation, but also of applying sound negotiation strategies and techniques.

Your benefit

After attending the ‘Effective Price Negotiations’ programme, client advisors are well equipped for contract and price negotiations with their clients. They will have learnt how to prepare their negotiations professionally and achieve their goals competently and confidently using effective negotiation techniques and strategies.

Appropriate psychological approaches and targeted communication ensure that client advisors also interact confidently and on an equal footing with demanding and price-sensitive clients.

The successful implementation of the course content in day-to-day work also has a positive effect on the company’s business results, as stable and sustainable sales are achieved in the long term.

The programme

Participants receive documents in advance of the workshop to prepare for the most important topics.

During the workshop, the most critical basics of price negotiation are learnt and practiced in numerous practical role plays. This includes:

Your employees will deepen their understanding of the psychological aspects of price negotiations. For example, they will work on the anchor effect, framing and so-called ‘free concessions’.
They develop their ability to communicate the value of an offer convincingly. To achieve this, they practice data-based storytelling and visualization, among others.
They practice developing and implementing negotiation strategies and tactics.
Client advisors learn to defend the bank’s pricing policy by transparently presenting the value of their offer to the clients.
They acquire strategies for avoiding price discounts and learn how to skillfully offer special conditions without undermining the company’s pricing policy.

Using real negotiation scenarios and client discussions from the banking business, the techniques learnt are applied and tested in a safe environment.

Target group

This programme is tailored to the needs of the following employees of your bank:

Client advisors (private and business clients)
Team leaders
Product developers

Effective price negotiations for client advisors at banks

Your benefit

The programme

Target group

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