Years ago, Ponds Talcum Powder was selling in huge quantities in Namakkal/Salem area in Tamilnadu. It was unusual. So, they set out to find the reason for this.
You will be surprised/shocked to know the truth.
Here is the truth: It was an industrial belt. There were many trucks & workshops. These workshops were buying the Talcum powder and using it while repairing the punctured / flat tyres of the trucks. So, that was the reason for the increase in sales.
Whether the Sales numbers are unusually down or unbelievably high, you should find out why. You may be in for a surprise.
Do we always know why our customers are buying our products? What are they using it for? What problems are they solving using our products?
There was a customer who was spending huge amounts of money on communication between their offices. The cost of telephone bills, fax machines formed a huge part of their spending. But no one bothered. Until one day.
I had told this customer a long time ago about the benefits of Lotus Domino, groupware, and collaborative solutions that can help them do their business more efficiently and also lower their communication expenses.
He remembered this and called me. I solved their problem. But without knowing the problem. That’s because I didn’t ask him why he wants to buy or what problems they were facing. He said he wanted to buy Lotus Domino. He said that I had told him long ago it will help them in communication between their offices. I said yes. I closed that deal. Long after the deal and post-implementation, he told me that the cost of communication has drastically come down then and he thanked me.
If only we know what our customers are buying our products for, we will be able to close more deals faster without bleeding.
In the future we may have an AI that will read all the Sales conversations, Sales reports, scan the customer, markets and tell us why they are buying what they are buying after performing data association, analysis & reading patterns. Those will be called Insights from your data.
That future is already happening. And the AI is even telling us who all will be the target customers in that space.
But this is something I thought was my special knowledge/closely guarded secret/market info/account info. That was my property. I gained importance and job security with that knowledge. Not anymore.
Now I should convert more customers with the knowledge derived from the system.
#b2bsales #accountinfo #kkrocks #askwhytheyarebuying