The management of business deals is more than simply making sales it’s about making sure that every deal is financially sound for both parties. It’s crucial to limit risks and avoid deals that could be costly over the long term for your business, whether by reducing brand perceptions or capturing a low profit margin.
To make informed decisions at each step of a business deal, your team needs access to all the right information. This is why it’s crucial to make use of revenue management tools that can transform your data into context-specific alerts. Revenue Grid alerts you when the new step is added to an opportunity. They will also inform you if the email sequence fails or if a sale has been abandoned.
The right information will also allow you to build trust and loyalty to your clients during negotiations. Listen for any hesitations, or worries in their conversations and be able to empathize with them in order you can address their needs, highlight how your solution is more suitable and then create a win-win deal. It’s also important to take into consideration your own goals and challenges when negotiating, so that you are able to balance short-term gains with the benefits of the future. To accomplish this, try leveraging multiple offers that have distinct terms, but with the same overall value–this strategy is known as Multiple Equivalent Simultaneous Offers (or MESO). By creating a contract draft with your goals in view it is less likely to fall victim of drastic edits that could decrease the value of an offer.
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