Channel strategy

Channel strategy is the plan for guiding decision about a products distribution channel , the chain of intermediary that it passes from its creation, delivery and the end user. In this contact a channel is one or more intermediary individuals or organization that performe a role in getting a product or service from the producer to its purchaser. Some intermediaries may be involved in multipal channels.

There are 3 channels that a product or service must pass through.

-          The sales channel

-          The product channel

-          The service channel

The channel strategy includes decisions about the types and number of intermediaries that are appropriate for a given product and how the chain of intermediaries will be managed.

 

Techniques for effective objection handling

Objection are inevitable but should never be seen as a door slamming closed in your face the key is to understand why the customer is objecting . Some of the common reasons why a customer show objection are:

1.    Lack of knowledge:

“We don’t need mobile solution”

2.    Specific warranted concern:

“Your price is higher than every one else”

3.    Hiddenagenda:

“The customer has preference or incentive to use a different product but does not say that how to write”

4.    Customer may not be clear about their interest: “That’s not a priority for me this year”.

Tactics for handling objection

1.    Gratitude: Say “Thank you” to the customer according to the situation always thanks to a customer when they put an objection in front of you because this is an opportunity to address it and move on with your deal.In fact about all of the concern and objection right up friend and you will receive even more opportunities to turn the table to your advantage. Don’t forget an objection is better than “NO” because it gives you some place to begin the conversation.

2.    Empathize: Empathizing is a way to connect with your customer on a personal level “Show you care and that you are listening to them. After thanking the customer for bringing the objection to your attention. Empathize in that way that will further help a situation in favor. Example I hear this a lot “I am sorry you feel that way” – this sound like this has been very frustrating. “I hear what you’re saying and I think I can help you “ by empathizing with the customer their more likely to open now and share more.

3.    Let the discovery begin: Now that you have begun to defuse the situation take your time to uncover that is really going on. Good customer discovery always focus on asking open ended questions. If the customer can respond with a yes or no then you’ll have to rephrase your question. This is a lot harder than it sounds and it practices to develop this ability.

4.    Ask, probe and confirm: Now that you have got question following is important to keep the conversation moving further and deeper. As the customer respond to your open ended questions you should probe further by asking more questions about what they have just say it. If at any time you don’t understand something ask them to clarify. A great example of this tactics is on the customer mention and acronym or other works specific to their company or business process. Expert says that it takes atleast 4 to 5 layers of the questions to really uncover the pain or nature of the objection.

5.    Show them value: To keep your customer around for the long haul they must see value in your product or service. The purpose of goal discovery is to understand what is important to them, why it matters and what their business would be like without your product or service.

6.    Back it with proof and customer references:Now that you have gone through steps 1 to 5, its time to back up your statements with industry research, customer references or customer success stories to proof the value of your product or solution. For research find out what analyst say about your industry or product and incorporate this data into your conversation. Customerreferences are another great tool because those stories of an represent a pain or objection that was overcome with success.