Network is the focus-From zero experience to threshold experience(Business)

Network is the focus
From zero experience to threshold experience

Simple secrets of doing business, how to relocate our emphasis to do business in this truly different times. One has to be bold enough to walk through the new and unknown roads down. Times are changing fast. Let us retool and rework for the days ahead. It is not mathematical models, but the ability to relate, facilitates the business through.

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The business is all about the ability to build relationships. One does need a personalised attention to buy even a simple thing or on deciding a seemingly unimportant business proposition. Times are such that choices are many. The days of customers looking for sellers are over. Now seller is chasing the customer. We are living in a buyers market. In a buyers market with multiple options for the customers, to standout in the crowd is the toughest thing. How to stand out and how to reach to the relevant customer is the challenges of any organisation. Running a successful business is tough in a competitive world. “A major part of keeping profitable and growing your business is maintaining a focus on business development” says Claire McLennan in an article ”tips for acquiring new business”. The strategy is to maintain competitive edge by opening up business

While discussing about opening up, it is sure that one can’t operate in cocoon. Business develops as we do business. It is when the very important first contact is made; future follow up measures can be undertaken. So, many marketing function boils down to making the very important first contact. Just like the Chinese proverb- a journey of two thousand miles also start with a single step- any long standing and fruitful association bears the pangs and pressures of establishing the initial communication. One cannot get away with the scoring of first run if he is planning to be in the middle to score big ones.

Before making the first contact, considerable thought and research must go, to identify the potential customer. World over companies wanted to eliminate the inefficiency of wasting the energy by following the non-productive client. There is no point in squandering time with a non-prospective customer. A smart businessman is noted for his ability to distinguish between the possible and unlikely customer. Intuition and cumulative experience of businessperson has to be relied to spot the right target. Sometimes this is very easy when customer didn’t have the wherewithal to buy so that he can be well bypassed in the campaign. Theories of management textbooks wont help much here. It’s the understanding of human mind and experience gathered over the years may save one in deciding the prospective ness of a-would be buyer.
In this connection, results of some surveys are relevant. Recent surveys by Warne, a Toronto marketing company, tracked more than 3,500 people who inquired about an advertisement. Here is what the surveys found: 19% of the inquirers made purchases within six months (whether from the advertiser or a competitor) and 29% purchased within a year. By 16 months, 43%, and by 25 months, 57% had made purchases. That translates into two in 10 that want to buy "now" and four others that want to buy "later" — or about six prospects for every 10 queries. Clearly, inquiries are a key to sales. But to understand and distinguish the potentiality of the buyer at the time of enquiry or during a follow up session is important
That's because all queries look alike at the outset. You can't tell which will fade and which will turn into prospects. Since good follow-up requires three or four subsequent contacts, companies cannot afford to respond to every request for information or pricing with such attention. So the good gets tossed with the bad.

So first contact is very important in all aspects as the process of warming up a cold client to a hot prospect stars there. And the person who makes the contact has to be thoroughly prepared for it. He must be in full know of the things. No fumbling and mumbling will do. A total knowledge of the market and competitive advantages of the product shall figure in the radar screen of his mind as and when require. Any shortcoming in this regard will expose the marketing man and his prestige will be in doldrums.

Another thing is, Understanding the customers’ needs in proper perspective. There is no point in pushing a buyer to make decision. The persuasive, charming and pleasing manners can do the trick. In any successful negotiation what is important is the ability to see things from other persons perspective. It is the keynote of success. In a business opportunities also, this is no different.

There are times when the customer is not aware of the product or not aware the range of services entailed in the package. A smart marketing man ought to have the insight to understand the level of customer awareness. There is no point in explaining the things which one is already aware. Nobody has time and energy to listen the empty prattles anymore. Reading the level at which customer operates is very significant. It applies to the general awareness of the customer as well as the knowledge of the particular product or service offered. Raising the customer from the ‘zero awareness’ to ‘threshold awareness’ to make a purchasing decision is the challenge a marketing man must address.

The mindless and continuous chattering is not associated with elegance in business. A smart marketing man prompts the customer to open up. While the customer speaks, a view into his future potentials and apprehensions is available for a marketing man to analyse. That will help in allaying doubts. Allowing customer to talk may make a businessman understand his related needs and anxieties.

Another significant aspect on which marketing people often fail to give sufficient attention is the space needed for the buyer to take decision. There exists a tendency among sellers to rush through the business. It is not right that all customers countenance this. Penchant to do this may repulse a perceptive customer.

Customer is the one who sustains market. He is the raison d'etre of the business. He must be treated with respect and care. A customer once created, shall be retained. While putting forward a business proposition, a marketing man must remember this. Any information withholding or distortion may switch off the customer later when it is found out. The cardinal rule is to be truthful. There shall not be any information shocks later. But one ought to be thoughtful enough for not to pass information, which is not in the immediate interest of the prospective customer, be it about the product, company, or services. Being truthful doesn’t mean that belting out everything. It means that the businessperson has to divulge all related things, relevant to the product and service to the customer at the outset.

It is the persuasive charm of the marketing man combines with the value addition he offers, make a business proposal through. Simple, hassle free approach with utmost sincerity and a truly professional attitude will help a seller to clinch the deal.