The Best Deals – How to Negotiate the Best Money Deals on Mobile Phones, Broadband, Insurance & More

Make sure you don’t pay more than you need to when dealing with your bank, mobile phone supplier or insurance company.

Most major organisations in the UK spend a vast amount of time and money in educating their staff in the skills of negotiating with their customers – with a variety of desired end products from their point of view.

Often it will be to help their staff upsell (persuade you to buy a more expensive version of what you have already indicated you wanted) or cross sell (sell you more of their products – say an insurance policy to cover the new PC you have bought).

But with a little knowledge you can play them at their own game – because this sport (and it’s a lot of fun if you see it as such!) is played to a fairly standard set of rules which allow you to get the best deals and a great deal of personal satisfaction in the process as well.

Remember their aim is to make as much profit out of you as possible, whilst yours is to get what you want at the lowest price – keeping their profit in your pocket!

Get the Best Deals: Follow these 10 Tips for Negotiating the Best Deals

1). Assess Your Relationship

What’s your relationship with your supplier like? – are you an existing customer the company knows all about? – your ‘loyalty’ to them, whether you haggle hard or whether you jump from supplier to supplier often. They will probably know how much profit they make from you, and how you use your current services through them.

If, for example, you’ve had a long relationship with your mobile provider, and only use a third of the calls and texts of those included in your package you will be a very valuable customer to them. Thinking this through allows you to realise know how hard the company should strive to keep you happy!

2). Review your Options

Think through your options – what do you actually want at the end of the day? What alternatives are open to you – apart from switching suppliers – would a smaller package of calls and texts for your mobile phone work for you? Could a loan suit you better than 家居寬頻優惠 an overdraft from your bank? Would you like a fixed price contract from your utility supplier? Decide what’s good for you and what options that might be offered to you are quite literally non negotiable.

3). Research the Market

Next undertake some research and work out what you think is the minimum you should accept – this is called your ‘walk away’ position – knowing this when you negotiate is really important – you want to have a very clear view of what the service you are after is worth to you, and at what price you are comfortable to say ‘thanks but no thanks’ and walk away.

4). Know Your Value

Once you have got that firmly in mind consider all the things that make you the sort of customer that the company should want to keep happy. If there are other services that that company may be able to help you with, or you are willing to sign up to an longer contract, or you have friends or family you might be able to introduce jot them down, if you have never needed to use their repair services between contracts, or don’t use their branches jot them down – your job is going to be to make yourself look as attractive as possible – in a ‘perfect customer’ sense – when you start negotiating.

5). Negotiate

Only now do you open negotiations – which can be as easy as asking a price! Never ever get into a position where you name your price first. You need a ceiling to work from, and there is always a possibility that you will go in higher than the company offer you. Also if you name a price first that’s given the company the option of trying to negotiate you higher – so don’t do it – ever!

6). Create Wiggle Room

Check there is the opportunity to haggle – use phases such as ‘I’m not sure I want to pay that much,’ ‘what can we do to reduce the cost’ or ‘When I was looking around recently I am sure that I could pay less than that’. Don’t get angry or upset – emotion is a very poor bed fellow when negotiating! Keep calm, be firm, but appear very reasonable – someone who wants to do a deal. Try to get the person on your side!

At this stage you will probably be asked to name a counter bid – obviously this needs to be significantly less than your walk away position, but make sure its not a total insult! You want to get into a negotiation, but if the other party feels that you are so far off the mark you are wasting their time, you might find you don’t even get off the starting blocks.

7).Don’t Accept the First Offer

Once you have identified that savings are forthcoming don’t accept the first offer – or the second – keep on discussing ways to reduce the cost – and if Top Tip 4 identified some additional offers you can make to the company do it now – one at a time. A good tip here is to use the ‘If…. then’ approach. Place your ‘offer’ after the if, and what you want back after the then. An example would be ‘If I signed up for a longer contract then would you be able reduce the price any further?’

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