Business Negotiation Techniques Through Text
Created on 4 July, 2024 • Marketing & Business Communication • 85 views • 1 minutes read
Like me, you might not remember the last time you negotiated over the phone. Personally, I even get invited to face-to-face meetings more often than phone calls. And around the end of 2019, we started hearing that Millennials (maybe including you and me)
Business Negotiation Techniques Through Text
Like me, you might not remember the last time you negotiated over the phone. Personally, I even get invited to face-to-face meetings more often than phone calls.
And around the end of 2019, we started hearing that Millennials (maybe including you and me) don't really like talking on the phone.
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Many studies and surveys have discussed this. Millennials and the generation after them (Gen Z) are much more comfortable communicating through text or one-way communication like streaming.
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However, in a business context, when it comes to negotiating, you'll rarely find yourself streaming. When approaching a deal or closing a sale, especially for high-value transactions, negotiations almost always happen.
And recently, these negotiations have been happening through text, whether it's email, WhatsApp, or other chat apps. Email, in particular, is preferred by many decision-makers nowadays.
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So, let's focus on negotiating through text. Specifically, the two most popular channels in Indonesia: Email and WhatsApp.
Big Transaction Negotiations Without Meeting?
If we look back, almost all important negotiations we've had took place through email or WhatsApp. Usually, face-to-face meetings were just for signing or finalizing things. Sometimes, even the signing happened without meeting in person.
There have been instances where 100% of the negotiation process, up to the deal, happened only via email, WhatsApp, or a combination of both. Essentially, through text.
When meeting in person, you can look directly at the other person, read their gestures or body language, and hear their voice. In text negotiations, you don't have access to any of this information.
It’s more challenging to know if the person you’re negotiating with is happy or sad, under work pressure, or relaxed.
Conclusion
The article highlights the shift from traditional phone and face-to-face negotiations to text-based negotiations through email and chat apps like WhatsApp. Millennials and Gen Z prefer text communication, making it essential for businesses to adapt their negotiation techniques accordingly. While text negotiations lack non-verbal cues, they have become the norm for many high-value business transactions.