A lot of negotiations are characterized by the concessions made by both sides. Some of the effective persuasion techniques for selling highlight the advantages of being patient while negotiating. What is the best moment to make the first concession? Take a note.
Why are concessions important?
Concessions work well during a negotiation because they ease situations of conflict and the tension that comes with a competitive process. Normally, each side will focus on getting their own benefits, so relations tend to become tense. Check out these 6 attitudes we should avoid in conflict resolution.
When any of the two negotiators (for instance, a seller to a client; or viceversa) makes a concession, a bridge is laid to build long term relationships, because trust is improved and that feeling of cut and thrust diminishes.
Effective persuasion techniques are about delaying, as long as possible, the moment of making the first concession. In other words; do not hurry to concede to the other side. Gather all the information, discover your interlocutor’s needs, etc.
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Between the first offer and the possible counteroffer from the other side, there is usually the greatest moment of disagreement. Only afterwards, with the interchange of information and different viewpoints, the right frame to reach the agreement is created.
Patience to get an advantage
The main reason to wait to make the first concession is in order to obtain information. The more you can resist the pressure to make the first concession, the more you can find out about how anxious the other party is to close the deal.
It is important to close a good deal, but you cannot lose sight of your goal: to satisfy your own interests. Waiting to concede will pave the way for you, but you must be careful not to damage your relationship with the other negotiator, especially if you are dealing with important or sensitive issues.
For minor issues, you may use the first concession to bring positions closer together and demonstrate that you have an open and flexible attitude with your position when negotiating.
Waiting to understand interests
Being patient when negotiating is the best way to understand the interests of the other party. Besides, others will also be able to understand better what yours are and what is most important to you when closing a deal.
Taking your time, apart from being an effective persuasion technique, is a much more powerful tool than any threat or blocking attitude. Flexibility on the other side of the table and a better understanding of the different points of view is the reward we will get if we maintain a patient attitude.
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What effective persuasion techniques do you usually put into practice?