SUPpartners | How to Properly Negotiate Deals over Live Chat

Blog, SUP Partners, Testimonials

Customers are the backbone of any industry and the foundation upon which a successful business stands tall. In order to enhance customer satisfaction and win their trust, organizations employ a multi channel approach to stay connected. A live chat software is only one of them, thanks to the real time support and convenience it provides.

by Robin Singh

As a recent report suggests, 63% of customers are more likely to return to a website that offers online chat tools. Deploying a live solution efficiently increases customer satisfaction by 73% making it more efficient than other customer care means such as phone and email.

However, whether or not will a company increase their revenue greatly depends on a live chat agent’s proficiency. In other words, if the agent is respectful and insightful enough; this can help in bring a new rush of customers for your business. Negotiating in person is tricky, however, doing it online is more effective if the right techniques are in place.

What Makes Live Agents Good at Their Job?

Before we get to the negotiation part, one thing has to be clear. There are a few characteristics in this branch of service that any live agent has to possess to be able to use haggling methods the right way.

Working as a live chat representative means dealing with different types of people. Some are aggressive and easily irritated while others respectfully look for beneficial answers and the best offers. In each case, an agent has to be prepared and sympathetic towards the challenges ahead. Hence, here are some vital features a live chat customer service individual has to present:

  • Complete knowledge of the business and products;
  • Good communication skills;
  • Motivation and engagement;
  • Quick response abilities;
  • An eye to notice opportunities;
  • The ability to multitask;
  • Easily navigating and mentoring clients.

 

The Two Methods of Negotiation      

Negotiation is a two -sided approach. Win or lose or win-win solutions depending on personal situation assessment and, of course, business policies. Either way, the long-term goal is to keep customers and create long-lasting relationships.

When an agent holds their position, it’s mostly related to a “take it or leave it” scenario. For instance, a customer may approach right away with a request to purchase a product for a lower price. They may even try to “blackmail” an agent saying they will go to their competitors for a better deal. So, what is an agent to do? Politely declare: “I’m sorry, but the price will remain the same”, or come up with another answer in a positive light such as, “The product carries immense value. You must give it a try.”

The main goal with this approach showing that your company is not open to intimidations and stay true to their product value. On the other hand, negotiating with interest in mind goes a bit differently.

The perfect example of a win-win based approach is a customer who asks for a lower price because they can’t afford the product at the set price. Now, an agent who’s trying to keep a customer and make a deal can offer some beneficial payment options that the customer can afford. This is how the business and the consumer stay in a good relationship.

What is a Better Approach?   

By comparing the two, we can say that the first approach is riskier than the other. The main purpose of live chat software and its agents is to negotiate with empathy, to make the business more humane and approachable. Taking such a firm stand, therefore, is not as preferred among the faithful clientele.

That said, negotiating based on finding a joint solution, listening to customers, and engaging in real conversations and real-time discussions is the way to go. At the end, this approach helps to better understand consumers, as well as to find a middle ground to keep you and the customers happy.

Once we have determined that satisfying both business and consumer interests is crucial to raise revenue and customer satisfaction, it’s time to take a look into the factors that motivate and engage customers to negotiate prices.

Often, the prices for products or services may go up. This is a powerful motivator for a client’s “rebellion”, especially if they are long-term customers. After a long period of being loyal, they feel like they deserve a discount or a special offer. Moreover, competitors might try to lure them with a better deal. Hence, a business, as well as agents, should always look at the customer’s point of view and negotiate mostly to maintain a strong client base.

How to Measure your Negotiation Success Rate

 

As soon as the negotiation part comes to a close, it’s important to take a step back and observe the efficacy of the approach. The questions to reflect upon are:

  • Did I respect the boundaries and price limits the company has set?
  • Did the consumer accept the terms of a deal?
  • Were they ok with the deal?
  • Are they still loyal customers?
  • What was the final outcome of the negotiation?

By thinking about these points, an agent gradually learns the difference between a “good” and a “bad” negotiation strategy. The more one learns, the more will each negotiation run smoothly, plus the offers will get better. The same goes for the agent’s communication skills and relations with the customer.

All in all, quality live service representatives know how to respect the customer even if they are sometimes not so cooperative. Knowing when and how to offer a deal to keep both sides satisfied and when to respectfully move aside and call a manager is what makes the difference between a common agent and a seasoned live chat professional.

Author Bio:- Robin is a Technical Support Executive. He is an expert in knowledge management and various Knowledge base tools. Currently, he is a resident knowledge management expert at ProProfs. In his free time, Robin enjoys reading and traveling.