If you wanna be part of the BIG FAT INDIAN WEDDING market, speak to me…I have a proposal you dont wanna miss!!

Beyond Work

I have been doing some research on indian marriages and its economics.
I found the following information from www.businesseconomics.in

    an upper middle class family normally spends 30 lakh on a wedding
    an average of 10 million (or 1 crore) marriages take place in India every year.
    conservative average of wedding expenditure to be `3 lakh i.e 3 trillion for weddings every year

In India, marriages are a big event for the family, relatives and kids. People come together during marriages, spending happens a lot from both bride and groom sides. Lets look into the place where spending and incoming happens and the enormous opportunities in those areas.

Spending
1. Brides and Grooms Dresses
2. Marriage Halls
3. Food
4. Flower Arrangements
5. Receptions (before or after marriage… usually happens during the evening)
6. Music bands or DJ

Getting a marriage hall within the city limits is the biggest issue. the…

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How To Make a Flawless Cold Call- PART 2

Hi winners!

This is part 2 of my blog titled- How To Make a Flawless Cold Call

This part will cover points 4 through 6 and complete the series for you.

I hope that the points that I have raised have helped you make some quick notes and create a personal playbook that you can refer to, wherever you may be, which part of the world you may be working today and in the future!!

These points sure helped me succeed in India and Africa…so the logic is, if they worked in these 2 very tough markets, it should be a cinch in the mature markets of the US and Europe ….right??!!

So here goes….

STEP #4: SCHEDULE THE RIGHT TIME

You’ll never get the cold calling done unless you schedule a regular time each week to make the calls.  The trick here is scheduling your cold calling at the times when prospects are most likely to agree to a future meeting and thus become a potential customer.

The “right time” varies according to whether you’re working from a static list (like one built from the search of a database) or working on leads being fed to you from a web site where potential prospects are constantly coming and going.

If you’re working from a list, the best day to call is Thursday while the worst day to call is Friday.  In addition, the best times to call are 8am to 9am and 4pm to 5pm, while the worst time to call is 1pm to 2pm.

If you’re working from a website feed, the best time to call is within 5 minutes from the time that the potential prospect was viewing your website.  Turns out you are 4 times more likely to successfully qualify a lead if you call within 5 minutes than if you call between 5 and 10 minutes. And you are 21 times more likely to qualify a lead if you call within 5 minutes than if you wait for 30 minutes.

STEP #5: GET THE RIGHT ATTITUDE

Most of your success in cold calling will depend not upon your product or the quality of your leads, but on your attitude as you approach the cold-calling process. Here are five tips to help you achieve the best attitude for this part of your job:

Use a headset, not a handset. You want both hands free so that you can talk as if you’re talking in person.

Sit up straight and smile. If you’re slumped and frowning, the prospect will “sense” it, even from a distance.

Visualize success. Think of a time when you won a big sale. Put your mind and memory and emotions in that place.

Practice your script. Practice what to say if you reach a gatekeeper and what to say if you reach a decision-maker.

Lay aside your sales goals. These get in the way if you focus too much on them. It’s about the customer, not about you.

STEP #6: MAKE THE CALLS

You are now ready to make your cold calls.  Remember, cold calling is a process of disqualifying leads, not finding prospects for your pipeline

This is a VERY important point. As my boss often pointed out to me, “cold calling” is a “discarding” or “disqualifying” process, like panning for gold or digging for diamonds. You have to turn over a lot of dirt before you find the gems.

If you fail to get this, you’re destined to get frustrated. So, rather than trying to get as many leads as possible into the pipeline, use the cold calling process to avoid wasting time and effort on people who will never buy.

Because of this, you must make a point to make every cold call into a “win.”  It’s a BIG WIN every time you can scratch a “lead” off your list, because that means you’re not going to be chasing wild geese around mulberry bushes.

 

Hope you liked my posts….keep writing and keep connected!

How To Make a Flawless Cold Call- PART 1

Hi confident cold callers!!

I bet I got your confidence up by many a notch after the last 2 blogs on the subject of cold calling jitters and how to win!

So I thought that it is now the right time to discuss some key steps that will help you make flawless cold calls and deliver results!!

I have a total of 6 points to discuss with you and I shall do that in 2 parts- THIS IS PART 1, which will cover the first 3 points..

STEP #1: TARGET REAL OPPORTUNITIES

 

If you’re going to cold call, you need to target people who are likely to buy.

There are many ways to get lists of leads, but typically you’ll either get them from your marketing group or you’ll have access to an online service that allows you to pull potential prospects off the web.

The challenge is winnowing down that list to the prospects who are most likely to buy.  There are three general criteria that are always important:

  • Target Industries. Based upon your experience (and that of your colleagues), figure out which industries have both the greatest need for your offering as well as the money to purchase your offering. You should limit your target to one or two industries at most.
  • Target Job Titles. Within each industry there are “natural” buyers who either purchase offerings similar to yours or greatly influence such purchases. Based on your experience (and that of your colleagues) figure out the two or three specific titles that this natural buyer usually has within your target industry.
  • Trigger Events. For most products (especially B2B) there are key events that signal a likelihood to buy.  For example, if you sell services to help companies integrate normally-incompatible computer systems, a corporate merger or acquisition will usually open up a sales opportunity. Other trigger events are job changes, reorganizations, big sales wins in the prospect’s firm, etc

STEP #2: CREATE A WINNING SCRIPT

An effective cold calling script has the following characteristics:

  • It is about 30-45 seconds long.
  • It includes absolutely no small talk.
  • It delivers a specific, compelling reason for the prospect to want to continue the conversation.
  • It uncovers a problem in their business that you can help them fix.

If the prospect (not you) identifies something that is having negative ramifications on their business (a problem) AND they are serious about getting rid of that problem, then you “may” have a possible reason to continue.  If so, you can set an appointment to explore the possibilities of helping that prospect in some way get rid of that problem.

An effective cold calling script has the following structure:

  • Tell them your name and company
  • Ask permission for 45 seconds and tell them they can end the conversation after that if they want to.
  • Get right to the point
  • Help then identify their business problems by offering a short “menu”

STEP #3: PRACTICE YOUR TECHNIQUE

Many sales reps “sound like” sales reps — and that can be a big impediment to making the sale.  If you’re selling to decision-makers, you need to sound like a decision-maker, not a sales rep.  Every time you sound “like a salesman,” you’re communicating that you’re only there to sell and your credibility flies out the window.

So how did you find these points?? Write back to me , comment on this blog and wait for PART 2!!

Getting excited about Cold Calls!

Hi “cold feet Claude”

Is cold calling getting the better of you lately?

Is , trying to sell a product or service to an unknown and unqualified prospect getting to be so confronting that it freezes you  into a state of inaction? Are you daunted and stopped dead in your tracks at the prospect of making cold calls?

Well , Claude, you are not alone, and I have been there!!

Sadly, as the need for cold calling frequently accompanies the launch of a new business, or the launch of a new offering, such inaction

(caused due to numerous reasons)  can have dire consequences for your personally and definitely for the business.

Let’s try to fix it by looking at what actually causes our dislike and then introduce some new strategies- shall we?

  • Not surprisingly, the biggest reaction that’s generated by cold calling is the fear of failure. We know the incidence of sale is extremely low; we know the chances of even getting to the decision-maker are slim; is it therefore any wonder we are fearful of failure?
  • Running a close second, is the fear of rejection. No one likes to be rejected at the best of times and less so when the rejection is at best, abrupt and at times, downright rude.
  • The third fear is that of giving offence. It’s natural we don’t want to be seen as a nuisance — after all, this is not the atmosphere we look to foster with a potential customer.

So, we know cold calling has a low success rate; we know it generates fear of failure, fear of rejection and fear of offending. How can we combat this and move forward with any degree of positive action?

I reckon the answer lies in our measurements of success.

Imagine you set yourself the goal of making twenty-five cold calls to set up meetings to promote your business.

Now let’s assume that twenty-three of the calls are met with either rejection or total failure to connect with a decision-maker.

In this scenario, the chances are you’d be feeling pretty miserable. You might feel like you’ve failed in twenty-three out of twenty-five of the calls. And you’d be right.

Imagine instead, you had approached the exercise with this goal:

‘To attract people who are genuinely interested in hearing about my work’

By choosing your language carefully and not linking your goal to a finite number of calls or sales, it is possible to switch the emphasis away from the fears of what may be coming (failure, rejection, offence) and more towards your sense of what you’re actually hearing.

By listening out for those ‘who are genuinely interested’ it is possible to quickly disqualify anyone appearing unsuitable or disinterested. Through these means, you’ll move more quickly to the next call and with a greater sense of purpose. What’s more, you’ll do so without being rendered inactive through fear.

Too easy? Try it and you’ll see why successful telesales people are able to make call after call, seemingly totally unfazed by any of the classic fears.

Confession– This piece is motivated by a patch in my life as a sales professional when I went through this rut myself and it was a friend of mine who worked in a BPO (Business Process Outsourcing) firm who put me through the paces and taught me how to overcome my fears on cold calling.

This piece also helps young sales reps to understand how to qualify a serious lead through the process of cold calling, which is very important!

 

How To Reinvent yourself when the chips are down, and create a new avatar!

Hi struggling sales stars of yester years!

Feeling the heat of a struggling economy? Do you have nightmares about not making your quota targets and being presented with a beautiful pink slip on your table?

Well…you are not alone and that makes two of us!!

But having weathered many situations and economic downturns myself over the last 18 years that I have been working, I have realized that mental agility (keeping your wits about), perseverance ( always a good attitude) and an open mind ( keep options open) are key to ensure that you dont get caught in a rut and are successful in reinventing yourself in a more potent avatar!!

So here’s how you do it folks!!

  • Step #1. Locate. Find the most talented and successful Key account manager in your company and ask (beg, if necessary) to let you shadow him (or her) on a couple of weeks worth of sales calls. Get your boss on your side; boss is gonna be very pleased that you are taking the initiative to learn and improve (see ..thats politically correct!)
  • Step #2. Observe. Watch how he presents himself, opens up a conversation, moves the sale forward. Observe the words he uses, the way he moves his body, the way he interacts with individuals. (Take notes on your tricorder if necessary)
  • Step #3. Investigate. After each sales call, ask your role model to describe what he was THINKING at each point in the sales call. You want to understand the basic beliefs and assumptions that support the successful sales behavior. (Always good to understand the perspective behind each action and reaction that you observed during the sales call)
  • Step #4. Imitate. After you’ve done this for two weeks, you should have a pretty good understanding of the way that a successful sales professional THINKS about selling, and how that thinking manifests itself in specific behavior. Good time for you to jot down these key observations and to think of a way to consciously imbibe that into your system.
  • Step #5. Integrate. Start trying to think and behave identically to the sales professional. It will seem odd at first and you’ll be tempted to start talking technical. However, if you emulate both the thought process and the outward behavior, you’ll eventually get similar results.

EVENTUALLY you will have evolved into a new YOU and success will be closer to you than a couple of weeks back!!

Results guaranteed!!

Ten Ways to Make Cold Calling Easy

Hi Readers,

This blog is a natural follow up to the blog that I posted yesterday which drew numerous visits…thanks for your continued interest and for the shares.

Yesterday I spoke of the ways to conquer your fear of cold calling https://ashishtandon.wordpress.com/2013/02/17/how-to-conquer-fear-of-cold-calling/

In this post I would like to touch upon the topic of ways to make cold calling easy and also FUN!! Yes Cold calling can be real fun and can help you break the monotony of your daily routine!! Dont believe me , then read on….

Many sales professionals dread cold calling, and that included me when I had just come on board as a sales rep with J&J in 1992.

And that dread, unfortunately, makes them ineffective when they pick up the phone to make the calls. If you’re not careful, you can end up in a cycle, where your fear of cold calling creates more failure, making you hate it even more.

It needn’t be that way. Fear (or hate) of cold calling is a very solvable problem,

The following according to me , are the suggested ten best ways to overcome the fear of cold calling…

  1. Make some phone calls. The fear that you’re creating for yourself is far worse than the reality of cold calling so overcome fear by doing.
  2. Make a lot of phone calls. The more calls you make, the more success you will have and the less you’ll notice the ones that don’t work out.
  3. Prepare. Know the goal, what you want to say, how you want to say it and how you want to represent yourself, your company, and your offering.
  4. Practice. Practice your cold calling conversation out loud and role-play with friends or colleagues. Then focus on your prospect rather than your fear.
  5. Start easy. Begin with your less important leads. Once you feel more comfortable, start working on the more important leads.
  6. Stay calm. If a prospect is rude, remember that they’re probably just be having a bad day and then move on. Don’t take it personal.
  7. Don’t project. Your priorities and your prospect’s priorities are different. Don’t read negative meaning into early conversations with your prospect.
  8. Keep your perspective. Some things are out of your control. But what is within your control is continuing to prospect and continuing to make calls.
  9. Make it a Game. Give yourself 1 point for every “no” answer, when you reach 100, give yourself a prize. (If a prospect says “yes,” that’s a bonus!)
  10. Have fun. The fate of the world does not rest on you and your telephone, so loosen up and be creative.

 

The other 5 reasons that sales hates marketing!

Hi readers,

This is the second part of my blog posted some minutes back….https://ashishtandon.wordpress.com/wp-admin/post.php?post=523&action=edit (Top 5 Reasons Sales hates Marketing)

As promised, this blog covers the other 5 reasons why sales teams hate their marketing counterparts!!

REASON #5: Marketeers pose as “strategists.”

  • Description: Marketeers think they’re “brand managers” who should be directing all activities throughout the company.
  • Why It Rankles: Brand is a reflection of product and service.  If good, the brand is good; if not, the brand is bad.
  • What’s The Cure: Only reward marketeers for behavior that directly results in a measurable increase in revenue and profit.

REASON #4: Marketeers waste resources.

  • Description: Marketeers expend money on fancy brochures, advertisements, and trade show junkets.
  • Why It Rankles: The more money that’s spent on Marketing’s boondoggles, the less money there is to pay commissions.
  • What’s The Cure: Give the sales team veto power over all marketing activities that exceed a fairly small amount of money.

REASON #3: Marketeers pretend they’re engineers.

  • Description: Marketeers try to set the technical direction of the firm’s products and services.
  • Why It Rankles: In most cases, the Marketeers have never even spoken to a customer, so they’re clueless about what they want.
  • What’s The Cure: Let the engineers design the next generation based upon customer input.  Keep marketing out of the picture.

REASON #2: Marketeers force technology on Sales.

  • Description: Marketeers pressure the sales team to enter reams of customer data into the CRM system.
  • Why It Rankles: The sales team knows full well that most of that data isn’t going to help generate more sales.
  • What’s The Cure: Set up your sales tech so that it always increases the amount of time that sales reps can spend selling.

REASON #1: Marketeers pass along lousy leads.

  • Description: Marketeers provide lists of leads that are either unqualified, or unqualifiable.
  • Why It Rankles: When Sales complains, the marketeers make it personal, accusing the sales team of being unable to sell.
  • What’s The Cure: Fire any marketeer who can’t consistently provide leads that the sales team – with its current skill set – can’t sell to.

Well what do you think folks!!

Love to have your views on this and my other posts!!