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While many customers will tout specific aspects of a product or service, and price as the most important factors in their purchasing decision, a survey of over 1,200 decision makers in businesses of all sizes suggests otherwise. According to answers given, much more weight seems to be placed on product features and the overall sales performance. Particularly damaging to the chances of getting the sale were lack of product knowledge (their own and competitors) on behalf of the sales force and being contacted too frequently. As for how often to contact the business, there is no magic formula and it will depend on a variety of individual factors—one such strategy may center around events that provide value to the customer, such as a semiannual business review.
The first step in securing more sales is acquiring the hottest leads, the ones who are most likely to need and want what your company offers, and purchase it now. Make sure you know your target market as intimately as possible so you can formulate a marketing and lead generation approach that will pull them in. Working with a professional may be a good investment; it is all too easy to let pride get in the way and think that you know everything you need to know about your customers, but there is always something to learn.
Objections are all part of the sales game, and learning how to skillfully handle them is paramount in making that sale. The most common objection is usually the price. You must get at the root of the issue to figure out how to overcome it. It is pure sticker shock, or is the customer concerned that the price exceeds the value they will receive? Carefully break down each component of the product and explain how much value they are getting for the price. You may also want to delve into how much money they can save by using your product. If they are delaying the purchase, you need to find ways to emphasize the benefits of purchasing now; for example, if you are selling some sort of software, and they are planning a major redesign of their website, you can stress the benefits of installing it now rather than after the overhaul.
This last part is somewhat related to increasing sales because without money to fund large purchase orders, you will lose business now and business in the future. If you get that big order from a client that can take your business to the next level, but lack the capital to fill it, purchase order funding, where the financing company pays your suppliers directly, can be the right move for you. It offers more advantages that financing from your suppliers, is fairly straightforward and can be used in conjunction with invoice factoring.
Kelli Cooper is a freelance writer who blogs about all things business.
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