4 Tips to Follow When Negotiating Business Deals Virtually

March 31, 2020

More and more businesses are seeking virtual alternatives to the B2B trade shows and exhibitions they can no longer attend due to the pandemic lockdown. What options are there on the market? Can we get the trade show sales and connections online? In critical times of uncertainty like we are facing today it is crucial to review what online alternatives to trade shows are there. 

Small businesses invest a considerable amount of money to be present at business trade shows and B2B exhibitions as a means to reach more new clients and get business leads. Luckily with digitization we are able to get the same benefits remotely via online business trade shows, B2B platforms, and virtual events.

Take time to build rapport

This is an ancient advice that applies to both in person and remote business negotiations. It’s very straightforward, people don’t feel comfortable to get right down to negotiating. It is important to take the time to build rapport with your negotiating partner. It will loosen up the situation and set up a more relaxed and friendly environment to begin your virtual negotiation. So remember, rule number one: resist the urge to get right to business.

Use video conferencing

Video conferencing tools are an amazing alternative to conference rooms and a fantastic means to organize your meeting. Set up a Google Meeting room and share the details with your virtual negotiator beforehand. It will give an organised and professional image in the other person’s mind and they will take you seriously and with respect.

Control your expressions

Body language says everything, it reveals and shows more than words. Therefore it is crucial to follow your expressions during a virtual business negotiation. Video meetings limit the visuals of the person and all the focus will be on you, making it impossible for the other negotiator to miss any expression you may make. 

A handy tip is to keep an eye on your face on your camera window and you will be able to remain with your poker expression easier.

Suggest a break

Breaks are equally important in virtual business negotiations as they are in in-person negotiations. Suggesting a break or two during your meeting will ease the tension and allow you to reset the tone and atmosphere of the conversation. Don’t underestimate breaks, you can also use them to develop a more personal relationship with your partner negotiator even if it is a remote negotiation. 

Finally, a good negotiator masters any environment in which the negotiation takes place. Why waste an opportunity by being ill-prepared. Take note of the above-mentioned advice and start practicing them today. It is crucial not to forget that your expressions go a long way, breaks help ease tensions and buy you time to think and simple chit chat builds rapport, setting a friendly atmosphere for the meeting.

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