It’s not just about making sales. It’s also essential to ensure that the deal is profitable for both parties. This means reducing the risk by engaging in negotiations with a sense of urgency and avoid deals that could be expensive for your business in the end, either through cheapening brand perceptions or capturing low margins.

To make informed decisions at every phase of a deal, your team must have access all the right data. That’s why it’s important to employ revenue management tools that convert your data into contextual alerts. Revenue Grid alerts you when you add a new step to an opportunity. They also notify you if an email sequence doesn’t work or when a sale has been abandoned.

Having the right data will allow you to build trust and a relationship to your clients during negotiations. Listen for any hesitations or worries in their conversations and feel their pain so you can address their concerns, explain why your solution is more suitable and then create a win-win deal. It is also important to think about your own goals and challenges in negotiations so that you can weigh short-term gains against future benefits. To achieve this, you must leverage multiple offers with different terms, but with the same value overall. This strategy is called Multiple Equivalent Simultaneous Offers (or MESO). By preparing a contract draft with your objectives in mind, you are less likely to fall victim of extreme editing that could decrease the value of the bargain.

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