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Business is risk taking

It’s no surprise why a lot of business owners put tons of effort in creating innovative products and effective marketing strategies to increase business growth. After all, sales is the lifeblood of business. There are potential risks that have to be taken. Some of them pay off and some of them, well, just don’t. Most strategies revolve around the notion of highlighting why your product is better than the competition, which in reality is actually a good thing. But while it’s ideal to present the pros of what you’re selling, the truth of the matter is, a lot of B2B sales transactions are influenced not by the greatness of your product, but by aspects where your competition fail to deliver.

Try looking back at some previous purchases that your company has done over the last couple of years. Delve into the details and then ask yourself this question, did we buy this product because it has cool and exciting features, or was it because it can do something that my old product can’t? You’ll then understand that many buyers feel the need to purchase something when they’re not content with what they are currently using. Bottom line is, if a company is happy with the service they’re getting, chances are, they’ll stick to that provider for a very long time.

So what factors really influence the curve of decision making when we avail new products? Let’s look into some obvious pointers that sellers sometimes take for granted because they concentrate way too much on making their goods fit well on a silver platter.

Second rate service

Some business owners simply like it old-school, and they always tend to go for the “cheaper alternative”, rather than the better option. And because you’re offering something that would make their lives easier, you know the technology you’re selling is what they should be using. Present your product in a way that would convince them that they not only want it, but that they “need” it. Convince them that tons of second bests still pale in comparison to a high class product.

bad service

Crappy customer feedbacks

Remember the fact that business owners are customers, as matter of fact, we all are. They have expectations, that when not met, could spell a fatal blow for the vendor. Business relationships get affected, either in a good or bad way, depending on how the other party responds to problems and complaints. Immediate responses are important, but the most crucial and logical cure of all would be a complete remedy to the issue. Even if you respond to a call immediately after you receive it, if you didn’t actually get the problem fixed, then most likely you’ll get a dissatisfactory rating on your customer survey. Whereas, even if it took you sometime to solve a problem but you got things done, you’ll leave your customer happy and satisfied.

Whether it’s an internet service provider or software company, or even the agency that provides hired help and security, there are particular factors that they consider when acquiring products or services. This means you already are competing with someone and you need to dethrone them to be able to get yourself that precious contract.

One of the main reasons why a vendor loses a client is because their service doesn’t live up to the vendor’s expectations. You’ll be able to unveil a lot of useful information that you can use to persuade the customer into getting what you’re selling, just by asking some key questions about their current service supplier. Start with something like “How do you find the quality of your vendor’s service”? You can also ask about previous problems they encountered, and then tell them how you’ll handle the situation once they switch vendors.

Information overload

With the diversity of the various mechanisms that you need learn to run in a business, it’s not surprising that there are a lot of providers or vendors that you consistently have to deal with. Times can get confusing, or worse, mixed up. When B2B buyers feel bombarded with too much information, they tend to find shorter and less confusing alternatives that can get the job done with minimal number of actions involved. Increasing profitability is almost always the primary goal, for this is where you get the money to run your business. The key is showing them how to make things easier without compromising the quality of their work. There are certain companies that offer excellent all-in-one packages that provide a number of high grade services that cover basically all your office needs. By giving them versatile options, you make yourselves more dependable.

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