How can I improve my international negotiations?
Companies operating in international trade need to be concerned about acting strategically. One of the ways to succeed in improving international relations is to maintain communication that respects the culture, the way of thinking of the other and, above all, that respects their space.
There are specific techniques to help companies achieve better results in international negotiations, such as market research, getting to know your partner better, planning and executing visits, giving gifts, maintaining a good relationship with the negotiator – observing its culture, without being invasive, and creating real ties that can often go beyond the professional barrier and generate a lot of business, even if the point of contact changes company or area of activity.
What is the importance of International Business for Foreign Trade?
Foreign trade is made up of international business, everything that moves the trade balance of a country is linked to this matter. Professionals who relate better to their buyers and sellers deliver more relevant results than those who don’t, as the chance of receiving requests is greater when you have a good relationship.
Benefits of having a good relationship with your customers and suppliers abroad
Getting the customer to close business with your company is the best motivator you need to have and maintain a good relationship with customers and suppliers. Making sure the deals are being closed because of the relationship and not just for the other party’s convenience or for an isolated reason needs to be the fuel to build relationships.
The client being able to see you as an authority figure on some subject will make him seek your advice on any news he has on a particular subject and such position is not built overnight, it needs to be nurtured by each contact, at every opportunity.
How to negotiate with each culture?
Each culture has its own ways of doing business, even if people don’t realize it. An unanswered message, an unanswered call, an explanation given carelessly in any way, can put an end to a whole era of work and to avoid this it is essential to know at least a little about the other.
Time Zone: It is important to pay attention to and respect time zones. Although in some cultures may be normal to work overtime, respecting the limits of the other is always a good option.
Cultural traits: understanding what you do, what you watch, what you eat, whether your favorite sport is football or not, can be decisive details for a closing, as people tend to have more affinity with those who like the same things that we do.
Language: it’s impossible not to mention language because it is fundamental. It does not mean that it is mandatory to speak the other’s language, but the fact you do will certainly be a differential and will put your company ahead of others.
Country history: You don’t need to know all the country’s war heroes and presidents but having an idea of who colonized the country and what disagreements there may be with nearby nations can help you avoid getting into trouble.
Religion: perhaps the most important because everyone’s religion must be respected and not attacked or disdained. Several countries have very intense believers, who take all teachings very seriously and which, at some point, may seem strange to those who are not familiar with it.
Adaptability: certainly, the most important characteristic of an international negotiator. Fitting in with the other will make it possible to do business with totally different cultures, as well as showing respect for them.
Negotiation techniques
There are ways to trade. From the simplest, like an email, to taking a last-minute flight only to shaking hands with the buyer. Each reality is different, and companies need to understand what options they have to make business happen.
E-mail: it is certainly the most used method, especially because the receiver can respond whenever it is convenient for him. No email is urgent, so don’t send four or five emails about something that needs to be resolved right away. In this case, use one of the options below.
Phone call: the one that works the most, despite the language barrier. When both actors are comfortable with the language, calling is still the most efficient way to close a deal.
Video calls: increasingly frequent after the covid-19 pandemic, video calls work like a normal phone call, except that it helps to better understand the other party’s expressions.
WhatsApp: some approve, some despise and simply can’t handle it, but the fact is that WhatsApp and similar apps are here to stay and close million-dollar deals every day.
Travel: needs to be planned in advance and most of the time involves high investment, but it is an efficient way to show the customer and supplier that your company cares about them.
Fairs: fairs and events are ways to find many suppliers or customers in one place and are an excellent choice for those who want to make the most of their trip.
Conclusion
Having a good business relationship with customers and suppliers is the role of the international business professional, which will certainly bring results in the short, medium, and long term. Connect with us! We are always looking for new friendships around the world! Let’s talk and build that connection.