How to successfully anchor your opening offer - and remain silent.
Many negotiators feel that they need to support their first offer with facts and arguments in order to make their claim more meaningful. Some may feel that even a weak argument that supports the demand increases the likelihood that your negotiating partner will comply with the demand. Because if the demand already sets the anchor for further discussion, an anchor that is supported by arguments should be even more effective.
However, research in this area has shown the opposite: if a negotiator justifies his first offer, there is a high probability that his counterpart will react negatively. The reason for this is that your negotiating partner feels that you want to narrow the scope and do the thinking for them. In situations where it is easy for your counterpart to present counter-arguments, these are usually less amenable to the anchor effect.
Example:Maaravi et al. conducted an experiment in which one person wanted to sell their home for $190,000. Potential buyers should submit a counter offer. In some cases, the seller justified his price (recent renovation, elevator in the building, etc.) and received "tough" counter-offers. The information he used to justify it was also readily available to potential buyers and some recalled that the apartment had no parking space, balcony, etc. for example. The seller's attempts at persuasion had more success in cases where the buyer had to work harder to retain the arguments presented.The resulting findings have concrete implications for negotiations:
Check in advance whether your counterpart can easily get information for counterarguments. If this is the case, be aware that your attempts at reasoning can backfire. However, your counterpart might also be more accessible to your anchor if you use new information (recently reduced prices, previously confidential information) for support.
Look for contradictions and discrepancies.If the other person makes an offer first and supports it with arguments, look for information that is inconsistent and present it as counterarguments. This will help you overcome the anchor effect of the other person.
Avoid extremes. As a first offer, make a request that is close to your optimum, but make sure that the offer does not offend the other party or cause extreme stress. In these situations, he/she will then quickly look for counter-arguments to refute your claim.
Don't be afraid to take the risk. Making an initial offer also involves risks. Nonetheless, in many situations it is helpful to be the first to set the anchor rather than trying to overcome the other person's anchor.
Endure silence. Many people find it very difficult to endure silence. However, this can be an extremely effective method of influencing your counterpart. Make the first offer without much justification, drop the first anchor, and be silent. Let your negotiation partner "come" and carefully observe his reaction to your offer.
ISMAN & Partner is a management consultancy that supports national and international corporations, medium-sized companies and start-ups, organizations and institutions in complex negotiation and conflict resolution processes. Founded in 2015 by Calin-Mihai Isman, the experts for negotiation & mediation support managers and employees from the areas of sales, purchasing, M&A, contracting, HR or IT.
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