Negotiation Mistakes Event Planners Must Avoid

In a fast-paced event industry, negotiation mistakes are common. Thus, negotiation can be a much-needed skill set for event planners.  Event profs need to negotiate their way from the event venue discussions to finalizing a keynote speaker.

All the discussions involve some form of negotiation and if done right can be a great way of planning a successful event.

There are times when you feel you could have negotiated that deal better or maybe it was far too stretched on the negotiation stage. We have all been there especially when it comes to planning an event there are various different scenarios where a tactical and well-routed negotiation discussion can help you get the best of services and sometimes land you on great deals.  

As a part of this people-driven industry, the skill to have a great negotiation dialogue is always an appreciated talent for event planners but sometimes we end up making some really common mistakes. 

These can be avoided with a simple, mindful approach. Read ahead to learn what the common negotiation mistakes of the event industry are and how to avoid them. 

“We often tend to negotiate the way we bargain!” Negotiation and bargaining sound synonymous but they are two different techniques. While bargaining is the negotiation of price alone, negotiation includes much more than price. Sometimes, negotiation may even be free from price and it might add value in other ways. This value addition may be in the form of some extra service or future commitments or even the barter of offerings. In the case of negotiation within the organization, it may simply be about convincing superiors of a new idea or pushing subordinates one notch ahead. Great event organizers have an innate instinct to go out of the box and recognize various ways of negotiating. 

Lack of empathy

“If it’s one-way, it’s not negotiation!” This is a common mistake and can be avoided with a mindful approach, what differentiates negotiation from the bargain is the tactic used, where bargaining can forceful, negotiation is empathetic. As a negotiator, we can’t be self-centred. A good negotiator looks for what he can give in response to what he’s getting. 

This becomes more important in an industry like ours. Be it the company offering peanuts for planning the event or tight-fisted exhibitors, event planner needs to negotiate with almost every stakeholder. He needs to look for convincing measures to make the negotiation empathetic. 

 Intuition vs evidence

“Intuitions are good as long as they don’t empower evidence” Convincing measures are the key to negotiation. But how to find them?  Instead of over-relying on intuitions, it’s better to do homework well before the negotiation. Thorough research is the core of negotiation. It not only gives confidence but also helps us create momentum. As Dr Jim Hennig puts it, “Negotiation is like athletic contest; Momentum is paramount”.  Wise negotiators take ample time to analyze several aspects of negotiation carefully.

BATNA (Best Alternative to a negotiated agreement), a term coined by Roger Fisher is common among negotiators.

Either too much or too little

“Quick compromise or No compromise: Both are equally dangerous approaches to negotiation.” Negotiators in the event industry are usually of two types- Soft negotiators and hard negotiators.

While soft negotiators keep on underestimating the extent to which they can negotiate, the hard negotiators go beyond limits, often giving it an ugly end! Thus, Negotiation mistakes in the event industry may lead to bad industrial relations. 

Great negotiators of the event industry save themselves from either of the extreme ends. Negotiation needs a balanced state of mind. A thing like negotiation may be challenging, even awkward at times. The best way is not to take negotiation as something personal. It’s a business skillset and needs to be implemented likewise. Respect for the other party and focus on seeking a solution is all you need in negotiation. 

Such connections come handy at times. Imagine a situation when your star speaker couldn’t appear at your event because of some unavoidable reasons. A bucket full of connections comes handy at times.