The management of business deals is more than just selling products it’s about making sure that each deal makes financial sense for both parties. It’s crucial to limit risks and avoid deals that could cost you in the long run for your business, either due to a negative impact on brand perceptions or capturing low profit margins.
Your team needs access to the right data to make informed decisions at each stage of an acquisition. It’s essential to utilize revenue management software that can transform your data into contextual notifications. Alerts on the Revenue Grid let you know when a new step has been added to an opportunity, or when an email sequence is not working and when a deal has been dropped–all of which will help ensure that your reps are taking the correct actions at the right moment.
Having the right data will also help you build trust and confidence with your clients during negotiations. Listen for any hesitations, or issues in their conversations. feel their pain so that you can respond to their concerns, explain why your solution is more suitable and then create an ideal win-win situation. It is also important to think about your own goals and challenges when negotiating, so that you are able to balance short-term gains with the benefits of the future. To achieve this, you must leverage multiple offers that have different terms but the same overall value. This is referred to as Multiple Equivalent Simultaneous Offers (or MESO). When you draft a contract with your objectives in mind, you are less likely to fall victim of extreme edits which can reduce dealmakers podcast the source of expert advice the value of an offer.