Ashish Bavishi’s Blog

Sales, Marketing, Personal Experiences, Spiritual Marketing, International Business, Strategy, Planning

Archive for August, 2013

What to do when you encounter the Objections while selling ?

Posted by Ashish Bavishi on August 23, 2013

There are 7 types of objections we come across while selling.

1. Price

Example: “Your services cost too much. I can get the ‘same’ service from someone cheaper.”

Hint : Don’t drop the price immediately. You would loose credibility.

Suggestions :
• Try to justify your price by breaking down your total cost or proving your proposed price is = purchase cost + loading charges + your profit.
• Many a time we can differentiate between basic services and premium services
• Your USPs for such price which client cannot get from any other provider
• Show benefit to the client by buying at your price

2. Complacency

Example: “I’m okay with the way things work right now.”

Hint : Don’t say this is OK ending your proposition

Suggestions:
• Go with all the homework done about the prospect you are visiting to
• Elaborate on “IF the client does not use your product / services, then.. ” with a small touch of fear
• Explain how the competitors of the prospect are using new services and benefits they are reaping with the advancement (against complacency)
• Show the cost/ benefit analysis of your product / services against the existing one

3. Fear of Change

Example: “I don’t want to change the way we’ve been doing things for 15 years. Too much can go wrong.”

Hint : Similar to complacency

4. Trust

Example: “It seems like you know what you’re doing, but how do I know you really have the necessary experience to do this?”

Hint : Never ever go without credentials like
a. Membership of industry association
b. Clients’ testimonials
c. Case Studies

Suggestions:
• Don’t show aggression to take the order, be honest and humble
• Show your credentials
• Tell them what clients says about your product / services
• Share the reference to cross check

5. Personal Politics

Example: “I told my brother’s friend’s wife I’d use her company for my next project.”

Hint : This is the biggest hurdle. This also means the person is either under family pressure or needs some gifts

Suggestions:
• Explain if the project fails by his relative, he would not get work done and money is also lost following to loosing relationship and problems in the family
• He could also loose the face in the office due to the incomplete work and might face inq in case of bigger projects
• Motivate the person with some gifts as a courtesy

6. External Input

Example: “I need to run this by my wife/business partner/mentor before I do anything else.”

Hint : He is looking for third party help. The only point the third party has to be trusted one and commercially beneficial to him

Suggestions:
• Create the trust factor spending some time with him
• Work on the business plan
• Show him the benefits working with you

7. Timing

Example: “It’s too much for me to take on right now; I’m too busy; Call me again in 6 months.”

Hint :
a. Having no time is only the excuse.
b. He might not have time even after 6 months.

Suggestions:
• Make your proposition short and sweet
• Request the client for few mins to close the discussion
• Make him understand how easy is this to implement your proposition
• Show the potential upside of your proposition adding value to his career

Abovementioned are the basic objections for any Sales process. With every objection it confirms you are closer to close the deal.

But objections don’t not end. You can make a list of the common objections and the points on how to overcome them.

Because for any client there might be 100 reason “Not to Buy” but “To Buy” there is only one reason – That is “To Buy” !!!

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A To Z Qualities of a Salesman

Posted by Ashish Bavishi on August 22, 2013

I was browsing through Web to create a the roles and responsibilities of a sales manager for the next recruitment. Here is the extract.

Sales Manager is a person…
A. Who can do Planning & Budgeting
B. can focus on Revenue Generation
C. has good Team Work
D. can create Daily, Weekly, Monthly, Quarterly and Yearly Target
E. is a Psychologist who understands others
F. is a Strategist
G. can do Account Mapping
H. can contribute to Lead Generation
I. can sense New Opportunities
J. can do Brand Promotion
K. is a motivator Motivator
L. is a good Supervisor
M. is a good Performance tracker
N. who Maintains and Improves Client Relations
O. who Maintains Data and Records
P. is a good trainer
Q. Having good knowledge of Product / Technology
R. Handles Credit Situation and Collection
S. can do Product Demonstration and Presentations
T. who Maintains cordial relations with Cross teams
U. keeps Knowledge of competitors
V. who does Market Research
W. Who participates in the events / roadshows
X. who can Recognize the frequent customers and their buying behavior
Y. can communicate favorable image of the organization as a whole
Z. who is trust worthy and dependable

I have my reasons for the A to Z characteristics listed above and will share thoughts on them one by one.

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Must to follow NGOs for Jains and Gujaratis

Posted by Ashish Bavishi on August 16, 2013

Recently, I have observed two Organisations really serving the people from Gujarat and Jains.  With the endeavour they have put in to building the website and backend Libraries are ultimate. And I must share it with everyone whom I know. 

Hats off to them…..

1. For Jains :

Pravin K Shah
Jaina Education Committee
Jain eLibrary Project
919 859 4994
www.jainelibrary.org

2. Chanderia Foundation : Gujarati Lexicon for All Gujaratis worldwide

http://gujaratilexicon.com

12, Sudhakar Apartment,
26 Narayan Dhabolkar Marg,
Malabar Hill,
Mumbai – 400 006
INDIA

Contact Person: Jayesh Patel
Phone: +91-22-2363 4867, +91-22-2364 0724,
+91-22-2367 7293

 

** I was not told to write about them at all. IT is personal opinion shared with my fellow friends to have best things in virtual life.

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“People Myopia” or “Department Myopia”

Posted by Ashish Bavishi on August 14, 2013

Myopia – An Ancient Greek word, commonly known as being nearsighted (American English) and shortsighted (British English), is a condition of the eye where the light that comes in does not directly focus on the retina but in front of it.

This causes the image that one sees when looking at a distant object to be out of focus, but in focus when looking at a close object.

Marketing myopia is a term used in marketing as well as the title of an important marketing paper written by Theodore Levitt. Marketing Myopia suggests that businesses will do better in the end if they concentrate on meeting customers’ needs rather than on selling products.

The Myopic culture, Levitt postulated, would pave the way for a business to fail, due to the short-sighted mindset and illusion that a firm is in a so-called ‘growth industry’.

Extending this phenomena, many Top Level Executives suffer from “People Myopia” or “Department Myopia”. Gradually they start loving their team mates from the same department they belong. They start believing in “My Own Department” from they have incepted or have worked long. They feel possesive for the people of that department as their own rather a part of the company. They unknowingly extend their favour to the people about whom they feel possessive and believe what ever work done by that particular employee or department is always RIGHT.

This undue favour comes from “People Myopia” or “Department Myopia”.

Unfortunately, this does not stop here. They start doing injustice to other people or department in the company to prove their “People Myopia” or “Department Myopia” is right. And simply others suffer !!

This leads to …

1. Wastage of Resources increasing burden on other people or departments
2. Frustration among other people or departments due to increased work and injustice
3. Their own people from own department (under Myopia) take disadvantage from them

A very small dieses of Myopia can lead to huge loss.
And the people who resist their Bosses’ Myopia are always in the trouble.

Suggestion :  Study, observe and let it be loose

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