What are the most effective tactics for gathering information about the other party before a negotiation?

1 Research online sources

One of the easiest and most accessible ways to gather information about the other party is to research online sources. You can use search engines, social media, websites, blogs, podcasts, videos, and other platforms to find out relevant and updated information about them. For example, you can learn about their background, education, experience, achievements, values, hobbies, and opinions. You can also check their online reviews, ratings, testimonials, and feedback from previous customers, clients, or partners. Online research can help you identify their strengths, weaknesses, opportunities, and threats.

2 Ask open-ended questions

Another effective tactic for gathering information about the other party is to ask open-ended questions. Open-ended questions are those that require more than a yes or no answer. They encourage the other party to share more details, insights, and perspectives about their situation, goals, expectations, and concerns. For example, you can ask questions like: What are the main challenges you are facing right now? How do you measure your success? What are the most important factors for you in this negotiation? Asking open-ended questions can help you uncover their interests, needs, and priorities.

3 Listen actively and attentively

A third effective tactic for gathering information about the other party is to listen actively and attentively. Listening is not just hearing what the other party says, but also understanding what they mean, how they feel, and what they want. Listening actively and attentatively involves paying attention to their verbal and non-verbal cues, such as tone, pitch, volume, pace, gestures, facial expressions, and body language. It also involves giving feedback, summarizing, paraphrasing, and asking clarifying questions. Listening actively and attentively can help you establish rapport, empathy, and trust with the other party.

4 Use the BATNA framework

A fourth effective tactic for gathering information about the other party is to use the BATNA framework. BATNA stands for Best Alternative To a Negotiated Agreement. It is the most favorable option that the other party has if the negotiation fails or no agreement is reached. Knowing the other party's BATNA can help you assess their bargaining power, leverage, and flexibility. It can also help you determine your own BATNA and compare it with theirs. To find out the other party's BATNA, you can ask direct or indirect questions, such as: What are your other options? How do they compare to this offer? What are the costs and benefits of each option?

5 Seek referrals and recommendations

A fifth effective tactic for gathering information about the other party is to seek referrals and recommendations. Referrals and recommendations are sources of information that come from third parties who have direct or indirect experience with the other party. They can provide you with valuable insights, opinions, and feedback about their performance, reputation, and reliability. For example, you can ask your network, colleagues, friends, or family if they know or have worked with the other party. You can also check their references, endorsements, awards, or accreditations. Seeking referrals and recommendations can help you verify and validate the information you have gathered from other sources.

6 Observe and experiment

A sixth effective tactic for gathering information about the other party is to observe and experiment. Observing and experimenting are ways of testing and validating your assumptions, hypotheses, and predictions about the other party. You can observe how they behave, react, and respond in different situations, scenarios, and contexts. You can also experiment with different strategies, tactics, and techniques to see how they affect the other party's attitude, motivation, and willingness to negotiate. For example, you can try making different offers, concessions, or requests to see how they value, prioritize, or trade different issues. Observing and experimenting can help you adapt and adjust your approach based on the other party's feedback.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?