Negotiation skills: The Role of Emotional Intelligence in Effective Negotiation
Let’s first understand the Shift of power – one of the most elements in negotiation skills
Imagine a movie scene, where the Police are interrogating the criminal. Power shift means in simple words, who has the upper hand in that particular situation.
The power shift is with the police now, until the criminal says that he has planted bombs in various parts of the city.
Now the power shift has gone towards the criminal.
In this particular negotiation, all terms will be dictated by the criminal now!
While in the end, the criminal says that he is just a common man and hasn’t planted any bombs in the city, the police’s voice suddenly starts becoming more assertive and commanding.
Now the power shift has gone again towards the police.
Now how do you know which direction power is shifting?
One person knows what is internally going on in the other person’s mind!
That’s when Emotional Intelligence becomes so crucial.
In simple words, Emotional Intelligence is the ability to understand what emotions they are themselves undergoing and also what emotion the other party is undergoing.
People might lie via words but can’t lie with their emotions
Let us understand with a corporate sales negotiation example:
Rajiv Nair, the sales manager is negotiating his mobile app development services with the client, after the proposal stage.
Client is cost-sensitive and finds the quote of Rs 15 lakhs of Rajiv too high for a mobile app.
So currently the shift of power is with the client and Rajiv with his Emotional Intelligence is very well aware of it.
Rajiv suddenly mentions how the client’s competitor has already started making a similar mobile app, but Rajiv is not aware of the exact features. And if the competitor ends up with the same features proposed in this mobile app of the client, the competitor will have various significant edges over the client.
Now suddenly the client has become slightly coy and sober.
The power shift has happened towards Rajiv and Rajiv can easily sense it.
He immediately makes a cost discount, which is valid for just this meeting and stops his conversation. And eventually, the client agrees to do business with Rajiv.
What Rajiv did was a fine example of effective negotiation using emotional intelligence.
For effective negotiation, the important negotiation skills are
- Thoroughly knowing your product/ service what you selling
- Knowing the customer’s actual needs, wants and desires
- Excellent oral and written communication skills
- Emotional intelligence to know the shift of power
For the shift of power to happen, you need to have enough facts known to you, speak in a certain way and also know when to stop
In our sales storytelling workshops for corporates, one of the important skills coached is emotional intelligence and mastering the skills of power shift.
Reach out to us to discuss further
