The management of business deals is more than just making sales it’s about ensuring that each deal makes financial sense for both parties. It is crucial to reduce risks and avoid deals that could be costly in the long-term for your company, either through a decrease in brand recognition or capturing low profit margins.
To make informed decisions at every stage of a business deal, your team must have access to all the right data. It is essential to use revenue management software that is able to convert your data into relevant notifications. Revenue Grid alerts you when the new step is added to an opportunity. They will also inform you if an email sequence fails, or in the opportunities in modern digital storage environments event that a sale is abandoned.
The right information will allow you to build trust and loyalty with your clients in negotiations. Listen to their concerns and hesitations, and understand their feelings so that you can address them, then show how your solution is better, and then create an win-win situation. It is also important to consider your own goals and challenges in negotiations so that you can balance short-term benefits with future benefits. For this, consider leveraging multiple offers that have different terms but the similar overall value. This strategy is known as Multiple Equivalent Simultaneous Offers (or MESO). If you take an active approach to negotiations and preparing an agreement draft with your desired outcomes in mind you’re less likely fall victim to drastic changes which can reduce the value of a deal.