The success of negotiation completely depends on important factors, like the legitimacy of parties, their interest, fairness of the proposal, promotion, and trustworthy relationships. Besides this, there must be other alternatives too that could satisfy the common curiosity of both parties. On the other hand, if negotiation fails, you must have a good option that will strengthen the commitment agreement of both sides. It also depends on the nature of the communication, whether you have chosen to acquiesce or threaten, brainstorm jointly or decide to make firm demands, make an assumption silently about interest, or raise questions to probe about them more profoundly.
How can You Start the Process of Negotiation?
Now you must be thinking about what you should do to increase the likelihood of successful negotiation. Detailed research is conducted on the psychology of bargaining; it covers some vital principles; successful negotiation occurs only when your focus is on the interest, issues that might arise along the way, creating alternatives, and utilizing objective criteria.
Here in this article, we are listing extremely powerful persuasion principles, and you can use them in your upcoming negotiations:
1.Liking: According to the principle of liking, people prefer to accept the request from others that they usually like. There are three reasons behind it: they are similar to us, they complement us, and they are ready to cooperate to achieve common goals. However, the concern is how you will translate it to the level of negotiation? The research shows that deep likability can result in a positive outcome of the negotiation, so being the approaching party, you should take the time and discover the possible areas where you find similarly minded negotiation partners before you start proposing.
2.Limitation: People want more from their resources specialty when they are limited in number. For effective negotiation, you should not only inform the other party of the benefits that they might enjoy together if they get select your items and also come to know about the scarcity in the market. You should explain to the other party why makes your proposal convincing and unique and what they will lose if they ignore the negotiation.
3.Authority: In any form of negotiation, people follow the credible and knowledgeable expert; they can rely on honest information. Therefore, it is essential to inform your authority to the other party before initiating the influencing process. Convincing clients is not simple; you can’t do it on your own by telling them how beneficial your proposal is for them. It also involves outside sources that other parties might find reliable. When you attempt to meet any new client, you should ask someone to honor your introduction so that your proposal may get persuasive value.
4.Consensus: Many times, people are uncertain about their decision and how they need to behave to proceed further. Therefore while negotiating, you should not depend solely on your capabilities of influencing but also call for attention, like what you will do when you are in the same situation.
5.Consistency: Even though your previous decision might have resulted in the less desirable outcome, you should act consistently with the past action or statement they have shared and performed. Research supports the conclusion that when a party agrees to the small commitment, the chances are quite high that they will agree to a larger agreement when approached.
Conclusion: You should take advantage of the shared information in your negotiation so that the other party may agree to your terms without much hassle.