“The learning curve was very, very steep” with IAB’s James Chandler
Welcome to the Negotiation Illuminators podcast! I'm Amy, and I'm thrilled to have you here as we explore different perspectives on Negotiation. Today, we're joined by James Chandler, the Chief Marketing Officer from the IAB, who shares his insights and experiences on Negotiation, drawing from his formative years at Mindshare.
Introduction
Negotiation can often seem intimidating, but it doesn't have to be. It's not a skill exclusive to salespeople; it's a learned skill that anyone can master. Throughout this podcast, we'll bring in experienced negotiators to share their top tips, exclusive insights, and valuable lessons to help boost your confidence in Negotiation.
Learning To Negotiate
James Chandler's journey into Negotiation began at Mindshare, where he had to Negotiate media prices and value. He describes this period as a steep learning curve, where he quickly realised that being macho and aggressive wasn't the best approach. Instead, he learned the importance of being well-prepared and clever in his Negotiations.
James recalls his early days at Mindshare: "You always start at a massive disadvantage. You're new to the industry, trying to Negotiate significant sums of money. The learning curve was very steep, and I quickly learned that I needed to be better prepared and more strategic."
The Shift From Macho To Relationship-Focused Negotiation
In the early days, Negotiation in the media industry was often macho and aggressive. However, as James explains, the digital industry required a different approach. "Digital Negotiation wasn't just about trading; it was about planning and building relationships. It became more about finding a win-win situation rather than one party dominating the other."
Amy adds, "With TV and press, there were limited ad slots, creating a competitive environment. In digital, the emphasis shifted to relationships and trust, making Negotiation more about collaboration."
Emotional Investment In Personal Negotiation
Negotiating in personal contexts, such as buying a house, can be particularly challenging due to emotional investment. James shares his experience, saying, "The emotional hook is significant. It's your money, your risk, and that makes it harder to Negotiate effectively. Separating the emotional aspect from the Negotiation process is crucial."
Amy agrees, highlighting that personal investment can throw off one's Negotiation skills. She notes that while professional Negotiation has evolved to include more personal elements, it doesn't reach the emotional extremes of personal life decisions.
Creative Negotiation Tactics
One creative Negotiation tactic James recalls involved a bold move at Mindshare. "A supplier claimed they were giving the best market deal, but the negotiator found out it wasn't true. They threatened to take all business away, ignored calls for a week, and eventually received a significantly better deal. It was a risky but effective strategy."
Amy's reaction to this tactic is telling: "My heart rate went up just hearing that story. It's a high-stakes move that could have gone either way."
Learning From Negotiation Failures
James also shares a personal Negotiation failure early in his career when he tried to Negotiate a pay rise. He admits to being underprepared and focusing solely on his needs. "I went in with a list of reasons why I deserved a pay rise, without considering the benefits for the business. I quickly learned the importance of preparation and crafting a compelling case that shows mutual benefit."
The Importance Of Preparation
Preparation is a recurring theme in James's insights. He emphasises the need for irrefutable evidence and a clear, compelling case. "Gathering data, understanding market rates, and knowing your value are crucial. It's about creating a win-win situation where the other party can see the benefits as well."
Roles Models & Inspiration
James credits Tony Evans, a former colleague at Mindshare, as his Negotiation role model. Tony's approach was characterised by a velvet glove technique, combining charm and respect with strategic thinking. "Tony demanded respect through his preparation and ability to flex his Negotiation style. He instilled a culture of competitive but respectful Negotiation."
Conclusion : Striving For Consensus
Reflecting on the evolution of Negotiation, James suggests replacing the word "Negotiation" with "consensus." He believes this shift emphasises the importance of finding a win-win outcome where both parties feel they have gained something.
Thank you for joining us on the Negotiation Illuminators podcast. I hope you found James's insights as valuable as I did. Remember, Negotiation is a skill that can be learned and honed with practice and preparation. Until next time, happy negotiating!
Key Takeaways:
Preparation is Key: Gather evidence, understand market rates, and craft a compelling case that benefits both parties.
Shift from Aggressive to Collaborative: In the digital industry, building relationships and finding win-win situations is more effective than aggressive tactics.
Emotional Investment in Personal Negotiation: Personal Negotiations can be challenging due to emotional involvement. Separating emotions from the process is crucial.
Learning from Failures: Negotiation failures are opportunities to improve preparation and communication.
Role Models: Learning from experienced negotiators can provide valuable insights and strategies.
