Streamline your business operations with funnel selling process in vendor negotiations

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[Music] now when we are talking about contacts we can get these contacts through as i mentioned to you earlier also maybe it could be is that we are running marketing campaigns promotional campaigns a lot of uh contact details through which you can still manage to connect and and generate contacts on the lead front uh the customer has shown an interest here probably must have visited [Music] when you see a prospect you also see the prospect now is inquiring more in detail about the price the features right he may also ask you to say why don't you come down and give me a sort of a let's say quick demo so that let's understand it let's say typically uh there was a time eureka folks used to sell it vacuum cleaners only through an act called demos so they would make physical visits to the houses and through a physical demo activities and convince a customer that look the kind of a dirt which is there in your existing house you may claim that it is absolutely and spam but the reality is something else of karate so maybe that's how you can see a prospect uh getting converted now since you or your sales person sees a situation you also see an opportunity you also see that subscribe what all i can manage to sell to my consumer is what you can see in the in this stage when we are talking about opportunity the opportunity may it is important that a smart salesman is a guy who will always try and do an upselling which means a fundamental core product thus your team has the ability is what you have to find it out and in case if it is not it's important that you have to build it and probably that's where we are talking about negotiation so uh as i told you one thing is it main stages will dynamically be different when it comes to a b2b business or when it comes to a b2c it's going to be completely different and of course these situations when we are talking about customers we are talking about whether the consumer has bought or not bought but in case if you have spot you should know why your consumer is buying your product and more important is in case he has not bought it you should be also knowing it why is that the customer did not buy from because this will help you to understand was it the ability front was it the product failure was it it was not meeting the customers expectations was my pitch not right where we being very pushy and so on and so forth so it's important whether you are getting a customer or not getting a customer in both scenarios you should try and work on the reason of why he has it and why he did not buy from me and hence it's a very simple stages which we have already seen uh we have a contact there's a lead the prospect gets matured and then we see an opportunity and then eventually we see a customer coming on our floor [Music] you have good negotiators in your organizations and probably you have very bad negotiators hence you may see yourself in this particular category called the blue category or probably you see yourself in the red categories majority of before i take it forward enough how many of you all see yourself in blue or in red can i quickly see it in the chat box okay omar blue wonderful overbite that's good enough sanjana is always right and what about the others oh wonderful wonderful i see oh makes red okay fair enough so i i see a mixed response to people here right which is good i'm happy that in case if you can see yourself in the blue zone that's absolutely fabulous so i now see more of red red coming up like anyway so fundamentally there are only two types of negotiators one the guy who goes and strikes a deal absolutely fabulous fabulous thumbs up hats off to you but majority of the time we do not see this happening down we somewhere or the other get into a compromise mode we discount our product we discount our services and take whatever the customer gives it and eventually come up and then we feel that kitchen right uh even for people who generally fall under the blue categories if at all you feel that your growth is fabulous then i respect it but if at all if it is not then trust me you might have to reconsider that we are you generally in the blue category or in the red category if it also was the case you would have been growing very fast if you see your growth happening comparative to last year year on year let's say a 30 growth happening now which is definitely a good good growth no doubt about it so if you can see that happening in your organization that's off to you very very simple the first knows how to negotiate it's important that if you do not know how to negotiate you will find you not generating sales you will not see sales happening in your organization important and hence it is important that we should try and learn more about what is [Music] negotiations now these skills which i am talking about is all on the behavioral element of it right and hence it is important because the fact is it's not the rover which is going in negotiating with my customer it's me or my sales person who is going out and trying to convince and and this make the sales happen and hence it's important that rather than work these systems helping me to work when it comes to negotiation it's important that it has to be internal which is the behavioral element of it and hence uh the points which i'm listing here will give you a fair insights and understanding of if you can manage to probably inculcate these behaviors you will find a transformation happening in your company so let's understand what are these negotiation skills [Music] it's very important is sales is tough sales is extremely extremely tough it is not an easy job at all and hence if you do not go in the right frame of mind and say that boss world is but to reach that point of confidence it's important that one must work extensively at and hence it is important that you need to work on something called the sounding board which means do your homework at the back that's primarily you should also know if at all you have to connect your respective dots you should know how you have to relate the issue along with the problem the problem and the issues this relationship is very very important it's really important before approaching your prospect try and do a lot of practice because this practice will only give you a better understanding of how you are supposed to go down and pitch yourself uh a customer can pass as a math project you should know exactly that in case you are going and approaching a prospect or a customer or a lead whatever terminologies can be used here uh you should know what is going to be my outcome office meetings you should be knowing that what sort of an outcome are you looking forward here right and hence in case if you can manage to know it you will see that you are very smart enough in terms of overcoming the rejections you should also know to how to connect it because if you have to make the meeting more meaningful it's important that you should ensure that you're talking relevance you're talking sensible you're talking something absolutely uh core for a customer to understand and hence it's important that your pitch has to be very very uh smart and the best should be is that one must try and articulate to the the situation better if you know the situation better you'll be in a better state to articulate and and because of articulating you realize that the conversions are you are in a state to convince a customer better never get to the mode of trying to only sell something that's not the way to do it this business these days business is not happening that way across the world whether it's for a product or a services or even for the the biggest of the the uh materials which has been so whether it's in manufacturing sector anything for that it has to be always win and win-win means something something which is much more than what the consumer is asking for that is win-win it's not equal and it's not 50-50 it's something much more and hence you may realize that it's not 100 you may realize it could be 120 percent and that is how probably you have to start building up we are in a business which we are building it up we are in a state where we are interested to grow hence it is important that if at all i have to ensure a customer delight i will have to go that extra mile to make the customer believe that yes i am genuine i am authentic i am for the customer and i am i'm taking care of the customers welfare as well and hence it's important that uh you will have to create a situation which is when when and when when plus to be very honest uh kuki sails for hot tough situations it's it's it's not easy somebody a sales rep he slogs in the hot sun an entrepreneur also does it i also do it i also go out and probably speak to my prospective customers so it need not be it can be a rainy season it can be a hot summer 40 degrees and still you have to go down and work upon but let's understand [Music] you will see that your hit rate i'm not saying that if you go and approach 10 customers you will find all the 10 customers getting converted if it is happening absolutely fabulous but it does not generally happen that's how we have seen it i have been in the industry for more than 30 years now the corporate world products services but um it does not happen necessarily hence it is important that you need to be knowing the rules of the game it's not that anybody is going to be working for you on as as a free or as a charity hence it is extremely important that if at all you are approaching you are making sales for a prospect or your team is going down try and inculcate this belief is that boss you only have to fight your battle fundamentally it is you only there are people who can support they will do a little bit of a hand holding but they are not going to be responsible for not sales sales not happening and hence it is important that if i am my sales guy i am a sales manager it's my responsibility to go down and get these sales now either i do it with my physical presence or probably drive it through my team members so it is this support can only be external and that to probably momentary it is not something which is helping you to convert the sales happen down so they are all acting as facilitators when you are reached a point where you know now he is a customer who has absolutely shown interest right but that is probably holding him to say yes give it a try you can always be ignorant you can always be very innocent i have seen majority of the time a customer whom i've interacted i'm trying to share my knowledge to him by saying that in your company this is what you should ideally be doing it and he says i know my company better absolutely fair you know your company well no doubt about quit uh that's why probably you're existing but if at all you knew your company well enough you would have grown much faster because you have not been able to grow faster that is the reason you and me are sitting and talking and hence i sometimes take a back step and then be very ignorant as i said just let me know and majority of the time i see a lot of customers you know uh they they they they feel their their egos get satisfied and uh they would like to share a lot of informations about it it helps it helps you to understand the customers psych it helps you to understand more about that how this customer is going to be behaving in future and hence it's always good that you should give the opportunity for a customer to speak rather than you speaking it there was a time when people used to talk about sales sales is dynamic it's now is that you should help the customer to speak out and because in this process of speaking out you will realize that this is what he's expecting and hence you can match your product or your services ing to his expectations and you'll see a faster conversions right now in this presentation you will not be happy at all you will not be happy you will not be able to register because the fact is i understand one thing is mind has only a limited source of registration to happen any data which comes into the mind or into our brains it's only limited but over a period of time you can keep accumulating but the fundamental input which is coming down has to be only limited in case if you manage to close sales always insist asking why are you buying it why did you not buy it you should be knowing the reasons right in case if you feel the customer is straight away rejecting you and saying that no i don't want it you can always ask him why do you say that why do you say that your my product or my service is not relevant right uh rather than confronting a majority of the time people will shun they will hold on to themselves why because the fact is they don't want to get exposed i do not want to say that your product is expensive right uh i would not like to say any area of services it gives that insight to for you as well but at the same time you will also see a situation where the customer specifically comes in and becomes very vocal sometimes you may also see that situation these little vocal and says you know this is the reason why i don't want to buy from or this is the reason i want to buy from you now it is all a good insights from a hardcore end consumer who's your actual potential customer actual customer uh for you to strategize your next move with the other prospects these informations these such insights by the customers helps you to use them as a tool or an information or a source of of let's say a piece of information for to adopt them into your future leads right [Music] you