04Mar2024
Search
Close this search box.

Behind the Wheel and the Deal: Unpacking Negotiation Tactics πŸš—πŸ’Ό

Disclaimer: The views and opinions expressed in the vapa Swiss independent wealth management blog posts featured on this page are solely my own and do not necessarily represent the views of any institutions or organisations I may be associated with. These posts are intended to share personal insights and perspectives and should not be interpreted as official statements or positions of any affiliated entities.


When I think about negotiation tactics, I often reminisce about my experiences buying a car. Whenever I make a purchase, I feel like I got the best deal. Yet deep down, I know that the β€œdiscount” I received was factored into the original price. Regardless, the β€œfeel-good factor” prevails, and I must admit, my car dealer excels in conveying this feeling. 🌟

In wealth management, even though I have never personally negotiated with clients in this industry, I imagine similar tactics are at play. Clearly and effectively explaining a holistic wealth management approach without diminishing existing relationships creates a sense of being understood and valued by the client, like how I feel during my car purchases. πŸ’°

Addressing the pricing issue early on reminds me of the importance of setting clear boundaries, like car buying and choosing an engine. It not only saves time but also demonstrates professionalism. And then there is that familiar β€œfeel-good factor”: offering a personal discount that requires checking with a superior, emphasising exclusivity, limited client capacity, and the quality of service, cultivates a unique sense of appreciation. ✨

Similar tactics and strategies exist in every industry. It is always about building trust, emphasising value, and forging long-term relationships. And when it is executed as skillfully as with my car dealer, it is no wonder I have felt like an all-time winner driving the same brand for the past 25 years. πŸ†

Source: LinkedIn

Rating: 4.00/5. From 1 vote.
Please wait...
addressing the pricing issue early on reminds me of the importance of setting clear boundaries, like car buying and choosing an engine.

Your monthly vapa insights await you:

* indicates required


Please select all the ways you would like to hear from vapa.ch:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices.