Why All Online Marketers Should Master the Art of Negotiation
By Nick Rojas
The art of negotiation has never been as important for online marketers than now. The digital era is in full swing and online marketers are the creative foundation to what people browse and purchase online.
A Pew Research Center 2015 report found that investor, Barbara Corcoran said, “Make sure you pick good people to build your business with, as they’ll determine 80 percent of your success.”
The art of negotiation also boosts team retention efforts
The HR process for online marketers can be challenging. You most certainly don’t want to search for candidates, spend days reading through applications, hire new team members, and then train them, just to lose them months later.
However, online marketers moonlighting as HR recruiters in their own business can use the art of negotiation to boost team retention. The American Payroll Association suggests, “Make sure newly hired employees are fully aware of their duties, as well as the company’s organizational structure, goals and long-term objectives.”
If new hires get the full outlook of what their new career will entail, they are less likely to be job-hunting right after you hire them. When negotiating salary, you can add value with projects you know your potential new team member can’t say no to. Career platform Monster recommends offering a mix of intrinsic, extrinsic, and lifestyle values to seal the deal.
Positive vendor relationships hinge on your negotiation skills
Online marketers are often conductors of various elements, whether it’s achieve success or simply finishing a project. In order to get things done, online marketers need savvy negotiation skills to develop positive vendor relationships.
One important aspect of negotiating with vendors is options. The more options you have on the whiteboard, the less you “need” and the more you “want.” Options will let you approach negotiations with vendors in a relaxed, anxiety free way.
This will in turn make the vendors want to work with you, and the relationship could turn into a long-term one. “Remember, your impatience with the process is the other party’s best leverage,” says Forbes contributor, Jim Blasingame. “Good negotiators practice patience.” Approach each vendor with relaxed intelligence for successful contracts.
Silence is invaluable when negotiating with clients and other teams
When negotiating with clients and other teams, having a strategy built around silence can be useful. There is certainly a fine line between speaking too much and not enough. However, silence is a well-worn tool in any professional negotiators toolbox.
Silence puts clients and other team members in a calm state while making you more powerful at the negotiation table, according to Steven Benna of Business Insider. During silence, clients and team members might add to an offer, it gives you time to plan your next move, and silence allows for key reflection during the negotiation process.
Award-winning writer and essayist for Time Magazine, Lance Morrow says, “Never forget the power of silence, that massively disconcerting pause which goes on and on and may last induce an opponent to babble and backtrack nervously.” Online marketers who employ silence get results.
Listening is the most profound and powerful aspect of negotiation
Building a negotiation strategy that encompasses active listening is powerful. Online marketers who harness the art of listening will have the upper hand in any client or team negotiation.
“Active listening is a general approach to listening that helps you gain more information, improve your understanding of other points of view, and work cooperatively with others,” as defined by the MIT Sloan Communication Program. However, active listening is one of the most challenging elements of negotiation to master.
Harvard Law School’s Program of Negotiation found three important aspects of active listening, including paraphrase, inquire, and acknowledge. Online marketers that employ these aspects of listening will discover strengths, weaknesses, needs, and value points their clients and other team members find difficult to turn down.
The art of negotiation is valuable in any field, but especially useful to creative people such as online marketers. The daily interactions and the need to build positive relationships make negotiation skills powerful for those who possess them. Online marketers not only need to negotiate, but negotiate in a way that encompasses positivity, success, and growth. Take your online marketing business to the next level and negotiate like a pro.
Over to you
Have you had success in using the art of negotiation in your business? Share your thoughts in the comments below.
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