It's more than just about making sales. You also need to ensure that the deal is profitable 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 lowering brand perceptions or capturing low profit margins.
Your team should have access to the relevant data in order to make intelligent decisions at every stage of an agreement. This is why it's vital to use revenue management tools that can transform your data into context-specific alerts. Alerts on Revenue Grid let you know that a step next to take is added to an opportunity, when an email sequence is failing and if a deal has been dropped–all of which will help ensure that your reps are taking right actions at the right time.
You can also build trust and build loyalty during negotiations by using the right data. Pay attention to their concerns and hesitations and empathize so you can address them, demonstrate how your solution can be better, and make seamless collaboration: empowering remote teams an win-win situation. It is also important to think about your own goals and obstacles when negotiating so that you can balance short-term benefits with the benefits of the future. To accomplish this, try leveraging multiple offers that have distinct terms, but with the same overall value. This is called Multiple Equivalent Simultaneous Offers (or MESO). When you draft a contract with your desired outcomes in mind you are less likely to fall victim of extreme editing that could decrease the value of the bargain.