Negotiation skills are most crucial in business as they help build trust and develop long-term relationships between parties in daily communication as well as formal transactions such as negotiating conditions of sale, service delivery, and so on.
Negotiating is about both giving and receiving, both parties seek win-win solutions, therefore ideally, in a successful negotiation, meet halfway, and make concessions that don’t negatively influence you, and be willing to ‘give’ something to the other party that has value to them.
Why are successful negotiations essential?
Foremost, they help you build long-term relationships
They help deliver lasting and quality solutions rather than short-term ones.
They help you avoid future problems and conflicts.
Tips for beneficial negotiation
- Remain calm and professional
- Don't make it personal and emotional
- Stay clear about what you are offering and what you need
- Be consistent with your goals
- Be prepared to compromise
- Prepare clear questions and pay attention to details
Five Stages of a Negotiation
It is based on client experiences at different organizations around the globe since 1993.
Stage 1: Prepare
Here you should Identify what’s important to you i.e. potential benefits, considering the relationship you want to build.
Stage 2: Information Exchange
This stage occurs once you start communicating with the other side, sharing information, and understanding what both parties strive to receive.
It is crucial to focus here on building trustful relationships, without which neither party would like to share their goals.
Stage 3: Bargain
Bargaining is the process of "give-and-take". As the success of negotiations consists of making concessions to each other. Simply following this one rule will allow you to build lasting relationships with beneficial outcomes.
Stage 4: Conclude
It’s the point when you reach an agreement and confirm interests that have been met. Don’t forget to thank your partner – even when no agreement is reached.
Stage 5: Execute
It’s time to implement the agreement, ensuring that you keep the promises made to strengthen the relationship and build trust.
How can I implement the negotiating process in my Magento 2 e-commerce business?
B2B Cart to Quote for Magento 2 by Aheadworks is designed to support business negotiations, typical both for the B2B and B2C scenarios. By implementing B2B Cart to Quote for Magento 2 you will be able to do the following:
- Negotiate requests for quotations with customers you trust and reach the best win-win deals.
- Create requests for a quote either on frontend and the backend
- Allow customers to turn a shopping cart into a quote list in one click
- Add multiple products per quote
- Apply a discount to the product price or order total
- Allow auto-approval of quotes
What’s new about the extension with version 1.6.0
- Export a quote in a pdf file from the Edit Quote page.
- Hide Request a Quote from the Cart page (we recommend hiding the button when there are restrictions on quoting on category/product level).
- Attach pdf quote to email notifications.
Learn more about B2B Cart to Quote here.