Deal or No Deal: 3 Key Skills for Negotiation

The skill of negotiation is an art. Some may describe it as a delicate tango. The ability to negotiating is beneficial as a marketer and professional. Let’s explore some steps for effective negotiation in the marketing industry.

Connect

Comfortability and connection are a key foundation towards successful negotiating. It is important that the involved parties feel that they are able to communicate effectively. Transparent and clear communication helps to set the tone and trust as they negotiation begins to progress. These steps can be seen in the example of contract negotiations for brand activations and events. When sourcing a venue, a marketing manager will need to detail and convey what logistics are needed to execute the activation. The manager will state to the venue what the envision and what requirements they must execute. The venue typically responds with a proposal detailing time, location, price and other key factors.

Typically, this is the phase where negotiation may begin to occur regarding price in relation to the event needs. During my experience working in marketing, I have had to negotiate with venues to adjust logistics or reschedule events. When a connection is established, this exchange of needs between you as the marketer and the contact of a venue becomes easier. Both parties are staying aware of what will benefit them but are working towards a compromise. This leads me into the next step of negotiation – cultivating the connection.

Cultivate

Once goals and concerns are expressed between the venue contact and the marketer, both parties can progress and work cohesively to execute. In cases I have experienced where contracted events have needed to be rescheduled due to natural disasters and poor timing, I have had the most success while working with people I have cultivated relationships with. Recently, I had to reschedule an event in Los Angeles due to the tragic wildfires in early January. Empathy and concerns were expressed from both parties, and we worked together to find a solution that benefited both parties. However, I did receive push back from the venue in the beginning.

The venue was hopeful and confident that the event could progress and be executed with the event being uncompromised for the wildfire impacts. Thinking from a marketing (and human) perspective, I opposed and did not agree that it was the best time from to proceed with an event in early February given the current state of Los Angeles.

Through the trust and foundation that we have established during our time working together, we were able to proceed with a solution.

Close

After several conversations with our respective teams, the venue and I agreed to postpone the event. From a financial standpoint, the venue was able to retain what they needed and what would benefit them at the time while allowing it to work in our favor for the future date of the event. Postponing an event is never an easy decision and does typically require changes that create a ripple effect. Thankfully, I was able to close the deal with success for both parties.

Due to utilizing these steps, I was able to negotiate a situation that resulted in benefits to my organization as well as the venue we are in partnership with. These skills are vital and often utilized in the marketing industry. Becoming proficient in the art of negotiation will contribute to your success as a marketer