Know when to walk away
“It is better to be hated for what you are than to be loved for what you are not.”
- Andre Gide
Gaining insight that helps providers move away from buyers who do not fit is a preferred result over moving someone who is not ready to the Buy Step. The provider should have in place technology that allows them to capture data associated with buyers to improve insight during this step. Some of the best salespeople I know when to get up and walk out. They know there is nothing there. Marketing should use its own knowledge about targeted markets and the behavior of the buyer to determine the continued provider investment.
Misinformation and Opportunity Costs
Numerous times I have seen products and services mentioned on social sites where buyers will discuss capabilities of the offering and the provider. It’s happening all day long and when the provider doesn’t have a clear communications strategy, misinformation can get passed along. This is another reason to get the facts right across the provider’s different points of contact. Bad facts spread just as fast (if not sometimes faster) as good facts.
Another key point here is that the provider’s named competition isn’t their only competition. Budgetary competition includes other needs in the buyer’s organization. The provider is now competing for budget dollars. Not only does the solution need to look favorable vis-à-vis their competition, but it needs to look favorable against other opportunities.
This opportunity cost for the buyer will be part of a portfolio of strategic buying decisions. Just as the provider looks at its offerings from a portfolio standpoint, the buyers know they can only effectively digest so many purchase decisi...
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...er’s targeted markets, the score is usually high enough to forward to the sales team. The sales team now has a Ready-to-Buy lead with a full record on the buyer’s background, behavior, content usage and contact history. This is quite different from a business card collected at a trade show where a booth worker almost tackled an innocent stroller who was looking for the restroom.
The pre-sales telephone effort here can be very helpful if the team approaches it from a buyer intelligence standpoint. By eventually (it might take a few times) getting the buyer on the phone, the telephone team can input information that will save the salesperson time once the buyer has prioritized the purchase and wants to move to the Buy Step. Additionally, it helps if the buyer feels that the salesperson has some context on the buyer’s needs if they are moving to the Buy step.
Their purchase habits can also help to give the company a better understanding of the
Eg. 2 : A decision to purchase a software package or IT support may depend on who wins the tender by being technically and commercially compliant but in B2C a consumer buying a Windows 8 license may do so because he/she has been using a windows OS on their desktops since childhood and thus the trust factor is enough to convince the consumer to make the purchase.
I like this quote because it tells us the change in where humans think everything is good but once a modification is made everything can change. When that certain change is made, it can be painful depending on how you and mind handles it.
“Learn to deal with the fact that not everyone is perfect, but everyone deserves respect, honesty, justice and equality, I’m for truth no matter who tells it, I’m for justice no matter who it is for or against” (anonymous)
The sales leads are now centralized and accessible across branches rather than individually gathered and processed by salespeople. In standardizing customer information, it now makes the marketing teams, analytic teams, and customer managers on the same page. It creates a “friendly competition” that encourages close cooperation for all areas. One major cost that this new strategy created was the confusion of different areas in RBC. Product managers and customer managers often misunderstood what way of action was appropriate, which lead to another problem: it took more time to make decisions. A benefit of this change is that there was no fighting for resources and instead cooperation. Another benefit would be the divisional organization, which can be seen in Exhibits 3a and
“It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt.”
“Men judge generally more by the eye than by the hand, for everyone can see and few can feel. Everyone sees what you appear to be, few really know what you are.”
Companies. Retrieved July 4, 2008, from University of Phoenix, MMPBL-501 Web site. University of Phoenix . ( 2008). Economics for Managerial Decision Making
Rivalry among established firms is fierce. There are several factors that illustrate this: established market players (6.1). The product is highly standardized and the switching costs of the customers are low. Players are aggressive (6.2)
“Life is too short to wake up in the morning with regrets, so love the people who treat you right, forget about the ones who don't, and believe that everything happens for a reason. If you get a chance, take it. If it changes your life, let it. Nobody said life would be easy, they just promised it would be worth it.”
In today’s world, it’s hard to compete for accompany that don’t known well their competitors. It ‘s like walking blind into a fire. For instance, knowing a great deal on what a competitors is offering in term of products can help a company to differentiate it’s product and make it more appealing for the customers. If the competitor’s products have weakness, one could build a better product without the same weakness the competitor had and from there gain competitive advantage. Furthermore, knowing the price of the competition can allow one to set competitive prices as
Apart from brand confusion, competing to be the best, although initially advantageous to customers in terms of price reductions is disastrous for companies due to the costs involved in this race to converge offerings.
The other side of the matter is excessive adherence to preferred suppliers neglecting the advantages competitive pricing. Competitive pricing could pave the way for reducing the price of the end product. This is what the evaluation of the T5 agreement now suggests.
Companies seek to understand their customers, get to know them better. Therefore, they collect as much information about customers as possible in order to approach them with appropriate incentives. ...
If competitors offer equally attractive products and services, then one will most likely have little power in the situation, because suppliers and buyers will...