Here is a very quick target setting system, that if implemented correctly, is going to ensure that your salespeople are almost always on track to hit their targets. The method is simple. Here is what needs to be determined. What is target the salesperson want to hit this year? What is the average deal size? – They can use their …
People often pride themselves on being brilliant negotiators by “beating the other party” and getting the best deal. However, over-negotiating can be a terrible thing, especially for the buyer. Suppose you negotiate hard to bring the price down greatly of a product or service you want. You hammer them extremely hard and ultimately successfully manage to bring them down to …
Many organizations train their salespeople to close every deal they can at any cost. Many times, the entrepreneur behind the organization also subscribes to the same mindset. But what if I told you, this mindset is not entirely correct, not every deal deserves to be closed. There are many organizations closing many of the deals and feel very proud of …
Traditionally, salespeople have been taught that they should not share the price of the product/service until as long as possible or mention an extremely low price to attract consumers The philosophy behind this approach is that you want to get as many prospects as possible and not scare away anyone up front. Then in the end, when you have them …
Article by Anubhav Srivastava I want you to try a little game. The original version of this game involves a dice, but I came up with a variation that involves something you can find anywhere – A coin. You can either do it yourself or turn it into a competition involving your sales team What I want you to do …
By Anubhav Srivastava Most businesses are only able raise their prices in increments. In a world where most businesses compete purely on price and go for the high volume low price approach, raising prices is something that they are only able to do when the entire industry raises their price. While the high volume low price approach may work …
By Anubhav Srivastava Before we get into how to deal with this question. There are three keys to remember. The first thing to remember is to agree with the customer as much as possible. They say the Customer is always right. We all know that is not true. However, we need to agree with them anyway. Showing empathy is the …
By Anubhav Srivastava Except for the largest of businesses with massive capital and resources, competing purely on price is sure way to eventual failure. You walk on such razor thin margins, that even the slightest of variations could make your business unprofitable overnight. Suppose you charge Rs. 5000 for your service, a competitor comes and offers the …
By Anubhav Srivastava Let me tell you a true story. A wealthy gentleman once walked into a Car Store, wanting to purchase a high end sports car. When he walked into the store, he went to the sales guy and told him that he wanted to purchase the car. The salesman who became quite excited with the possibility of …