Tips for Making Enquiries
1. If the seller is your constant supplier, you can
(1) state the goods and services you are interested in;
(2) request for catalogues, price lists, samples, terms of transaction, etc.;
(3) ask for attention to your enquiry and an early reply.
2. If the seller is your new supplier, you can
(1) express that you would like to establish business relationship with him;
(2) request for catalogues, price lists, samples, terms of transaction, etc.;
(3) ask for attention to your enquiry and an early reply.
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Enquiry Handling
As a sales and marketing consultant who specialises in B2B sales leads, I've had the opportunity to personally review dozens of research studies about enquiry handling, enquiries and sales leads. All the research points to the same conclusion about enquiry handling: although nearly one-in-four enquiries result in a sale within six months, the majority of sales come from longer-term leads. Consider a research study conducted by Reed Business Information about enquiry handling. It took a look at 40,000 enquiries from ads and press releases in magazines serving the manufacturing marketplace.
The study found that six months after enquiring:
● 23 percent had bought the product or service advertised from the advertiser or a competitor.
● 67 percent said they were still in the market planning to buy.
And, looking back at older enquiries, they found that of those who bought:
● 11 percent purchased within 3 months of enquiring.
● 17 percent purchased within 4–6 months.
● 25 percent purchased within 7–12 months.
● 47 percent took more than a year to buy.
Unfortunately, despite the high number that eventually convert to sales, many salespeople believe that advertising enquires are not worth following up on. Why? Probably because a majority of these enquiries are from longer-term prospects, and salespeople generally need immediate sales in order to meet monthly or quarterly quotas to earn commissions.
As a result, if your company's enquiry handling process simply passes all enquiries on to your salespeople, reps, dealers or distributors to follow up, beware. They're probably neglecting the longer-term prospects and, as a result, your company may be leaving as many as 8 out of 9 sales on the table for your competitors with better enquiry handling.
"What can we do to get our share of those longer-term sales?" you ask. Simply follow these 4 steps to establish a solid enquiry handling process and sales-winning relationship with your prospects:
1. Show how responsive your company is by sending requested information immediately.
2. Use the phone to follow up with all enquirers to learn about their needs, authority, budget and timing.
3. Use ongoing direct mail, e-mail, faxes and telephone calls to keep in touch with your longer-term prospects. This will keep your company and its products "in sight and in mind" and allow you to "spoon feed" your prospects with information about the features and benefits of your products or services.
4. When you determine that specific prospects are ready to buy or meet with sales, get your salespeople involved.
To use an analogy, imagine your marketplace is like an orchard full of fruit trees. Your marketing people are the orchard tenders: planting, weeding, feeding and watering the trees. When the fruit is ripe, they call in the fruit pickers: your salespeople, reps, dealers or distributors. If enough trees were planted (advertising) and the orchard was well tended (follow-up), there will be a bountiful crop of fruit to be picked (sales). If not, the pickings will be slim.
Discussion:
1. Why do many salespeople believe that advertising enquires are not worth following up on?
2. What can a businessman do to get a share of the longer-term sales?
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Negotiation Tips: Who's on First?
Typical scenario: a businessperson is preparing for high-stakes negotiation. I ask them what their plan is for the first few minutes of the negotiation. They tell me that they are not going to say anything and, instead, make the other person go first.
I then ask them, “What if the other person has this exact plan?” That leads to a comical scenario in which two people are engaged in a stare-down — neither of them willing to say anything and both coyly trying to get the other person to spill the beans.
In research by Kellogg faculty, we've dug deep into the question of, “Should you make the first offer, or let the other person do it?” There is a widespread, almost unquestionable, assumption that it is wise and strategic to let the other person talk first — and that it is suicidal to make the first offer.
However, there is virtually no research that supports the claim that letting the other party open first is advantageous. In fact, it can backfire — and lead to a worse outcome than you imagined. Here is why:
According to the anchoring principle, the first offer made in a negotiation sets up a powerful, unconscious psychological anchor that acts as a gravitational force. Stated simply, there is a strong correlation between first offers and final outcomes.
Opening offers also influence the offers that the other party (the opponent) makes. Meaning, if you open first, the other party’s counteroffer is influenced by your offer — not good for them. Conversely, several research investigations show a strong and powerful positive effect of making the first offer. The negotiator who puts the first offer on the table has an advantage, other factors remaining constant. That means that if you and I have done equal preparation and have similar leverage points, you will have an advantage if you make the first offer.
When you do make a first offer, which we strongly advise you do, keep these three points in mind:
Hardly anyone accepts the first offer, so be sure you have room for maneuvering after you make it. If your first offer is too generous, you will not get credit for it.
Don't make an outrageous opening offer. Sometimes, negotiators think that they can establish dominance by making an extreme offer. However, this backfires and creates a chilling effect. A chilling effect occurs when offers are so outrageous that the other party loses all motivation to continue negotiating.
Ideally, your offer should be at or near what you think is the other party’s BATNA (best alternative to a negotiated offer, 达成谈判协议的最佳选择方案), close to the most that your buyer will pay or the least your seller will accept. Such offers are, by definition, within the realm of what the other party could actually pay (or sell for), but are not giving up unnecessary ground.
Tips for Establishing Business Relations
1. The establishment of business relations with another company is the base of starting and developing business. It's better to state how you gain the information directly.
2. How can you make your company and products stand out? You should emphasize the competitive advantages of your company and products.
3. In most cases, establishing business relations is the beginning of business. Remember to be sincere and honest.
4. Do not forget to show your reference.
