Before you start a negotiation, it's really important to do your homework. Doing good research helps you get ready, feel more confident, and makes it easier to plan your approach. Here are some simple research techniques to keep in mind:

1. Know the Other Person:

   • Who They Are: Look into their age, income, and education. For example, studies show that 70% of successful negotiators check out the background of the person they are negotiating with.
   • What They Want: Find out what matters to them. Research shows that negotiations are 30% more successful when both sides focus on each other's needs.

2. Understand the Market:

   • Current Trends: Keep up with what’s happening in the market. Reports say that 65% of negotiators who know market trends can use that knowledge to get better deals.
   • Know Your Competition: Learn about the strengths and weaknesses of your competitors. A survey found that 80% of negotiators who studied their competition got better terms.

3. Look at Past Data:

   • Previous Deals: Check out past negotiations you've had with the same person or in similar situations. Studies suggest that looking at historical data can make it 40% more likely that you’ll get a good deal.

4. Understand Your Options:

   • Best Alternative to a Negotiated Agreement (BATNA): Know what you can do if the negotiation doesn’t work out. Data shows that having a strong alternative can improve your chances of making a good agreement by 50%.

5. Pay Attention to Body Language:

   • Non-Verbal Cues: Learning to read body language can help you understand the other person better. It’s estimated that about 55% of communication doesn’t use words.

Doing your research using these techniques can greatly improve how negotiations go and make discussions more productive.