Remote negotiations the new norm

With the breakout of Covid 19, travel and face-to-face meetings around the globe have been seriously impacted. The potential for even more travel restrictions during the next 12-18 months will force companies to adopt new business models, especially how #sales and #procurement will be conducted as they manage complex business #negotiations with customers, partners, and suppliers across diverse geographies. As this is the new norm, professionals need to adopt new/updated negotiation techniques and skills combined with a better understanding of the impact of intercultural differences on the negotiation process.

8 basic steps to follow :

(1) Prepare – plan thoroughly, have everything in writing

(2) Communication negotiation- choose the communication method in advance (email, phone, video

conference)

(3) Culture – if this is a global negotiation, make sure you understand the business nuances of the other party and how they expect the process to unfold

(4) Make sure you are talking to the decision-maker

(5) Use an agenda and communicate in advance

(6) Have a concession strategy at hand, BATNA, MDO & LDO

(7) Summarize verbally and follow up in writing.

(8) Be patient. Remote negotiations tend to take longer than face-to-face negotiations.