How can you negotiate with senior executives in a virtual setting?

When entering any negotiation you must understand three fundamentals: 1. What do you want out of it? - This sounds easy but it takes some mental prep. 2. What do you think the they want out of it? - This is more difficult but don't be afraid to ask them. You'd be surprised how much you find out. 3. What is your best alternative to a negotiated agreement (BATNA). If you don't come to an agreement and leave the room with nothing, what will you fall back on? On the point three, say you are negotiating a salary increase - If you don't get what you want, what is your alternative? Do you have another job offer at the higher salary? Or is the best alternative you have the current salary at current company. On the latter negotiating power is low.

Prepare in advance: Research the executives' backgrounds, interests, priorities and pain points. Familiarize yourself with their organization, goals, and any recent news or developments that may impact the negotiation.

When negotiating with top executives online, conduct comprehensive research on their objectives, and establish a well-defined agenda beforehand. Make sure your tech setup is professional and functional. Communicate clearly, employing visual aids when necessary. Listen actively, utilize digital collaboration tools for dynamic discussions, and be flexible to their viewpoints. Summarize the meeting in a follow-up email for clarity and continuity. Build rapport despite the virtual medium and keep the conversation goal-oriented.

Negotiating digitally with senior executives necessitates strategic planning. Investigate their top priorities, anticipate objections, and create a professional web presence. Utilize transparent communication and dependable virtual platforms. Begin by making a brief, real connection, and then focus on illustrating the benefit of your plan with actual instances. Be adaptive, actively listen, and professionally follow up. For successful discussions, maintain a high degree of professionalism while acknowledging the virtual context and adhering to agreed-upon schedules.

Additionally, explore the company's recent achievements, challenges, and market position. Analyze industry trends and competitors to enhance your negotiation strategy. Knowing the broader context enables you to align your proposals with their business landscape, showcasing how your proposition addresses their specific concerns and contributes to their overall success.

Establishing an agenda and complying with it in a time-efficient way will always be looked well through the eyes of Senior Executives. Their time costs a lot of money, make sure you are concise and clear with your words and ideas. Know your data and study beforehand. Being seen as a reliable party will help in future negotiations, too.

Moreover, consider proposing a structured timeline within the agenda to allocate time efficiently for each discussion point. This demonstrates your commitment to a focused and productive virtual negotiation. Additionally, encourage participants to review the agenda beforehand, fostering a prepared and engaged atmosphere during the virtual meeting.

Furthermore, integrate strategic empathy by acknowledging and validating their perspectives. Tailor your communication to resonate with their values and concerns, reinforcing a sense of understanding. Leverage shared experiences or common ground, even in a virtual setting, to strengthen the rapport and create a more collaborative negotiation environment. This personal touch enhances the overall effectiveness of your virtual interactions with senior executives.

In terms of existing relationships sharing historical partnership insights opens the door for voice of client session. Researching the health/history prior to negotiation is crucial. Starting the meeting with allowing unfiltered client feedback allows any barriers to be addressed. Hopefully you are not in a negative situation, but sometimes in sales we are. Being prepared to discuss these challenges and how they were addressed is key.

Imagine how hard is to accept something from someone strange to you. Don't be a stranger, look for common grounds, try to understand the other side and how your offer will truly benefits his business, don't sell lies, all the bad negotiation will haunt you like a ghost, so be honest. If you create a good impression and understand the need of your client, the sale will a mere consequence of the process.

Executives are definitely focused on outcomes and value, but they're also concerned with managing risk. The bigger the brand, and the more senior the Executive, the more of a concern risk becomes. Talk openly about where the risks are typically in these kinds of negotiation scenarios and how to mitigate those risks.

Moreover, tailor your communication to emphasize the direct impact of your proposal on their key performance indicators (KPIs) and business objectives. Articulate a clear return on investment (ROI) and showcase how your solution aligns seamlessly with their strategic priorities. This approach ensures a concise and results-driven negotiation that resonates with their objectives, reinforcing the value proposition and facilitating a more productive discussion with senior executives.

Prepare, prepare, prepare, and know what they want and what they need. Preparation is the groundwork to everything. Remember these principles: Value is Key: Understand what the senior executive team values, not what you think they should value. This is paramount for creating deals that they'll want to agree to. Empathy: Use empathy strategically to understand their perspective and emotions. This isn't about agreeing with them, just acknowledging their situation. Deal or No Deal: Have the mindset that you're willing to walk away as opposed to taking a bad deal. No deal is better than a bad deal. You will not do a bad deal. If you keep these commandments, you're a majority of the way the to a successful negotiation.

Flexible yet firm in pricing on value proposition. Be prepared to discuss how your solution differentiates in the market share. ROI on specific use cases.

What can be brought to bear here is ■ Leveraging on your strength. At this point your level of interaction must be very engaging after due active listening which is the key to a successful negotiation. ■Demonstrates exceptional problem solving expertise and relate it to your erstwhile experiential moments. ■ With due diligence also focus on how your wealth of experience will yield quick return on investment(ROI) and achieve corporate goal of the organization in no distant time. ■Communication: By avoiding ambiguity and creating a clear and precise communication you would've driven your point home. This is were absolute features, assets and profiteering comes in.

Establish clear communication channels for real-time adjustments. Set expectations for periodic check-ins during virtual negotiations to address concerns promptly. This proactive approach ensures continuous alignment, fostering an adaptive and collaborative atmosphere. Embrace uncertainties with resilience, demonstrating your ability to navigate challenges effectively in a virtual negotiation environment.

After you have listened to your senior executives ask or feedback reiterate the bullet points of your discussion and who is responsible for each task, step, action, timing. For instance, if you are working a contract and they agree to terms your steps might include: corporate attorney review the contract, signature(s) from external parties, route to the senior executive(s) for signature. You want to make sure they are agreeing to review and, if approved, sign the contract. Confirm how they want you to follow up to obtain the signature. Even if your company has a standardized process you may need to give a gentle reminder that a contract is in an executives queue. Ask if they want you to follow up with them directly or their assistant.

Here are two points I always employ when tackling this : * Prepare a compelling presentation: Create a visually engaging presentation to convey your points effectively, utilizing charts, graphs, and concise information. * Build rapport through virtual networking: Engage in informal virtual networking sessions to build relationships with senior executives outside formal negotiation settings.

Show respect. Express support and care. Make sure you understand what is important for them. Listen actively. Ask smart questions. Above all - don't hide your value.

Sometimes - go old school - Meet face to face, shake hands, “break bread”. Sometimes there is no substitute for a human touch.

Each negotiation scenario is unique, and your approach should be tailored to the specific circumstances and the evolving dynamics of remote negotiations. Negotiations are both a science and an art. Additionally, being adept with online tools is now an indispensable skill for virtual negotiators, using these tools can enhance engagement and help with influencing an outcome i.e. voting buttons, whiteboards, break-out rooms etc