Why should you be obsessed with Reports?

Reports act as a ‘mirror’ !! It shows where you stand!

The job of a leader at times is to simply show the mirror!

Ask your team to prepare a business report, only numbers and no gyaan…The process of making a report will uncover a lot of things that they need to focus on…Your team will discover the broken pieces that needs to be put together…

Sharing the reports amongst all the players in the team generally builds positive competition…No one wants to be looked on as a the last man…

PS: Dont over do it!

Facebook on Linkedin- Choosing the right social media platform!

Power of Platform!

Facebook using Linkedin to promote/sell its services.

FB acknowledges that the best place to reach decision makers is Linkedin.

Is it a sign of decreased ad spends on FB? Probably not.

The FB revenues doesnt signal a decline. However, the promoted post shows that when you are down, do not be defensive. Instead, strike with more rigour.

~Commitment Economics~

Propose some value added benefits. Seek a nominal commitment from the consumers for the value added benefits. This is the Holy Grail to boosting your sales.

Eg.

  1. Amazon Prime
  2. Saavn Pro
  3. Jio Prime
  4. Zomato Gold
  5. Ola Prime

Idea: Induce the customer to give you a nominal fee. You would always be pricing at the point you wanted to sell. In order to reap the benefits of whatever small amount that he/she has invested in, and to take advantage of the investment, he will purchase your products for the value added benefits they receive. By doing so, you give him a feeling(just a feeling) that he is smarter than the rest and receives superior treatment. Who doesn’t like it?

The basic tenants involve the principle of “Sunk Cost Fallacy”. For a detailed reading on Sunk Costs, read an amazing write up at: https://youarenotsosmart.com/2011/03/25/the-sunk-cost-fallacy/

 

 

 

Pitching Tips!

1. Attention:The prospect should have your undivided attention. We dont even give our undivided attention to our kids/parents/spouse. Hence, to secure the attention, you need to have a convincing one liner/idea which is of interest to the prospect.

2. Time: Mentally prepare the prospect and clearly outline the time that you seek for your pitch. Prospect should be ready to give 10 mins/20 mins/1 day/1 year to you.

3. Environment: Good lights and music are the key enablers for affecting positive thoughts and good mood.  Retail industry uses this to the core- Garment stores/Botiques have extremely good lights and music.

4. Testimonials: Having a few calls closed would increase the confidence of the prospect.

Master tip to skip all the above and close a sale effortlessly.  Have a wonderful Product.

Whatsapp never had to do any marketing. It is such a wonderful product that the world consumes it, without there being any push from the companys’ side.

Executing a Sale!

Me: Maam, I sell this makeup kit for Rs. 50/-.  It is very good.

Prospect: Hangs up!


Me: Maam, this make up kit has been used by  Mrs. Shetty for the movie #SuperStar.

Prospect: I am not Mrs. Shetty, I am not a #SuperStar


Me: Maam, this make up kit used by Mrs. Shetty in #SuperStar comes @ 50% off for a limited time. Your neighbour Mrs. Sharma bought 3 packs.

Prospect: Give me 4 packs.

 

Freemium, Freakonomy- Attention!!

Freemium-

It rules the business models today…You charge certain segments of customers ie premium and utilise their funds to offer free services to others. The premium segment comes after the free segment has risen to substantially high numbers.

Freakonomy-

My modified definition:-

You offer services a dirt cheap rates (almost free) and freak out the competition. eg Jio. Terribly low rates, freaked out every one major player in the telecom space in India. Today Jio=Voda+Idea+Airtel

 

Attention

The word “free” rings bells across caste, creed, educated/uneducated, intellectual/dumb, child/adult.

Recently BigBazaar launched a shrewd campaign called FreeShopping. I too got swayed by it. In the store, i hear a 10 year old child telling his father, “Dad, we need to buy for 456 more to get things for free”

Freakoloy

The psychology behind free- I am not a psychologist. But just as we all breathe oxygen, we all drink water, all of us- fall in for free!!  What goes behind it? I call upon my anthropology and psychology friends to share their views.

 

 

Why you should be in Sales atleast once !!

Infact, every one of us is into sales- every day….

We try to sell our ideas to our boss, our spouse….We try to convince our kids that we are correct…We try to convince ourselves that we are doing good…All these are some acts of selling….persuading….
However, not everyone has been into hard Core Sales…Do you have the guts to knock the doors? Do you feel low about it? Are you comfortable with asking for what you want?
Majority of times, we do not ask for what we want? We are afraid of being rejected!! Nothing is a big deal, until you make it one!! Nothing is rocket science, except rocket science itself!!
Here are the benefits of being into hard core sales:
1. Humility: You cant be arrogant when you wish to sell something…However, we do not beg. We sell it with pride.
2. Respect: You know how it feels that when 8 on 10 people do not respect you when you knock on their doors. Next time you see some one pitching something to you, you will give them the due respect, if not the due time.
3. Failure: Single biggest learning. You would fail probably a 100 times.
4. Ego buster: You cant sell and have ego at the same time. You do not loose self respect in the process. However, the line between ego and self respect is like optical fibre.  What may be self-respect for me, may be ego for you.
Franklin Roosevelt once said ” Failure is not fatal, success is not permanent, it is the courage that matters”
Go out and ask for what you want-today, right now!