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When negotiating with vendors and clients, it is crucial to recognize the importance of creating a Win-Win situation for both your vendor as well as the client.  You want to make certain that the business deal makes good business sense for both parties.

For a negotiation to be a win-win, both parties need to feel positive about the outcome; maintaining a good working relationship following the negotiation process.

I have found that it’s beneficial to be very specific on what is and is not important to the client.  Each customer is different, so it’s often best to ask the client to prioritize the items that are most important to them.  For some groups, the room rate is the most important financial element of the program.  For others, room rate may be important, but food and beverage are the deal-breakers.  It is truly on a program-by-program basis, but once you know the client’s priorities and share them with the vendor, you are all starting on the same page.

Remember, it will not benefit you or your client to push the vendor too far.  They may determine that you are no longer a good prospect or it will cease to be a good opportunity for them.

In the end, it is critical that the deal is profitable for the vendor and a good value for the client, while maintaining a professional and respectful working relationship.  That way, everybody wins.