Management of business deals goes beyond than simply making sales it’s about ensuring that each deal is financially beneficial for both parties. It is crucial to reduce risks and avoid deals that may cost you in the long run for your company, either by lowering brand perceptions or by capturing lower profit margins.
To make informed decisions at every step of a business transaction, your team must have access all the right information. It’s crucial to use revenue management software that can transform your data into relevant notifications. Revenue Grid alerts you when an additional step is added to an opportunity. They also notify you if an email sequence fails or if a sale has been dropped.
Having the right data will also allow you to build trust and build loyalty with your clients during negotiations. Pay attention to any hesitations or concerns in their conversations and be able to empathize with them in order you can address their needs, highlight how your solution will meet their needs better and make an ideal win-win situation. You should also take into consideration your own goals when you negotiate to stages in deal making balance short-term advantages with future ones. To achieve this, leverage multiple offers with different conditions and the same overall value. This strategy is called Multiple Equivalent Simultaneous Offers (or MESO). If you take a proactive approach to negotiations and preparing an outline contract with your objectives in mind you’re less likely be the victim of drastic edits that can lower the value of a deal.