You’re standing in your manager’s office. Your palms are sweaty, and your heart is pounding as you muster the courage to discuss the promotion you’ve been working tirelessly to earn. You’re confident in your abilities and the value you bring to your marketing team. But when it comes to negotiating, you feel overwhelmed and unsure of how to proceed. You’re not alone.
Studies have revealed that women tend to be more hesitant than men when it comes to negotiating salary offers. For example, research involving MBA graduates discovered that 50% of male students negotiated their salary, whereas only 12.5% of female students did the same.
Skipping the negotiation phase on your first salary can cost you a whopping $500,000 by the time you hit 60. It’s important to take action and negotiate at any opportunity you can, especially when you’re aiming for a promotion.
Let’s explore strategies to effectively negotiate and secure the marketing promotion you deserve and master the art of negotiation together!
Preparation: Know your worth and set your goals
Before entering any negotiation, it’s essential to be well-prepared. Begin by assessing your worth within the organization. Take into account your skills, experiences, accomplishments, and the value you bring to the team. Research salaries and job titles to set realistic expectations and goals for your promotion.
In the book “Women Don’t Ask” by Linda Babcock and Sara Laschever, they found that women who negotiate their salary increases make at least $1 million more over the course of their careers compared to women who don’t negotiate. Knowing the average salary prior to your discussions helps you negotiate your true worth and doesn’t leave money on the table.
Timing is key: Choose the right moment to negotiate
Timing can play a significant role in the success of your negotiation. Schedule the conversation following a period of strong performance or a recent accomplishment. Don’t sell yourself short on your wins! If you consistently go above and beyond expectations, you should have the conversation.
Try to avoid discussing promotions during times of high stress or organizational upheaval. Did your company just lose a major client or miss their targets? This could negatively impact your chances at a promotion, even if it’s well deserved.
Build a strong case: Showcase your achievements
Convincing your manager that you deserve a promotion means you’ll need to provide concrete evidence of your accomplishments and demonstrate how you’ve gone above and beyond your job responsibilities.
Throughout the year, keep a record of your achievements. Detail the results of your marketing campaigns, and highlight any key initiatives you’ve led or contributed to. Your manager won’t remember every great thing you’ve contributed to the team. This will all be helpful in asking for your promotion.
Be solution-oriented: Show how the promotion benefits the company
It’s crucial to frame the conversation around the benefits your advancement will bring to the organization. Keep it about the company, not just you.
Show how your new role will enable you to contribute even more to the company’s success. Provide examples of potential projects or initiatives you could spearhead if promoted.
Practice active listening and empathy
Negotiation is a two-way street, and it’s essential to listen to your manager’s concerns or objections. By practicing active listening and empathy, you’ll demonstrate your commitment to finding a mutually beneficial solution and increase the likelihood of a successful outcome.
Be flexible and open to compromise
In any negotiation, it’s essential to be open to compromise and willing to adapt your goals based on the conversation’s progression. When it comes to achieving a win-win situation, it’s important to stand up for yourself and your interests. However, being flexible and working together with others can help you come to an agreement that satisfies everyone involved. Showing this type of initiative will help you make the most out of any situation.
Maintain a professional and confident demeanor
Throughout the negotiation process, maintain a professional and confident demeanor. Even when faced with difficult or uncomfortable questions. Avoid getting defensive or emotional, and instead, focus on presenting your case calmly and rationally.
Your manager may be under a lot of pressure or not have the budget available for promotions. Ask what potential blockers may be and what are appropriate next steps instead of getting frustrated.
Follow up and secure the agreement in writing
Once you’ve reached an agreement, it’s crucial to follow up and ensure the terms are documented in writing. Whether this is via email or Slack, you want something confirming your promotion and any associated changes to your job title, responsibilities, or compensation.
Develop a plan for success in your new role
With your promotion secured, it’s time to create a plan for success in your new position. Outline your goals and objectives, and identify any additional resources or support you may need to excel in your role.
Continue honing your negotiation skills for future career growth
Negotiation skills are not only essential for securing promotions but also for navigating various aspects of your marketing career. This includes managing budgets, working with vendors, and leading teams. You can get better at negotiation by practicing, learning new things, and using what you have learned in the past. By becoming a skilled negotiator, you’ll be better equipped to face future challenges and seize new opportunities.
Mastering the art of negotiation is a critical skill for any marketing professional aspiring to advance their career. By knowing your worth, setting clear goals, and engaging in effective communication, you can confidently negotiate for the promotion you deserve.
Remember, preparation, empathy, and flexibility are key components of successful negotiation. So, take the time to hone your negotiation skills and be ready to seize the opportunities that come your way. With determination and practice, you’ll be well on your way to securing the marketing promotion you’ve earned and deserve.