Cold calling – Bitesize tips

 

Let’s debunk a common myth regarding salespersons first. We don’t turn ”No” or ”Maybe” to yes. We are not tricksters. What we do is solve the problem of a client, or create a ”Want”. There is a stark difference between needs and wants. Even though it is one of the most basic concepts in business, a lot misinterpret them. Nobody can create needs (Thirst) But we can create wants i.e a milkshake.

 

Three Simple Tips

 

  1. Smile and call ⇒ Before and at the beginning if possible. Prospects can feel it, and it is totally professional and infectious. Prospects will like it. Also, you will get a small dopamine boost as well.
  2. More calls = More sales ⇒ There’s nothing around this eternal truth. Yes, it’s about the quality, the research you do about the prospect, etc.. But at the end of the day, If 10 calls make you 1 sale, then 20 calls should make you 2 sales. It’s simple as that.
  3. Always ask W Questions? ⇒ People will not just give you information, especially when they aren’t expecting a call from you. You need to ask. Ask about anything.Ex – ”Right now I can’t buy it”. Ok, may I know WHY?. ”I simply dont have the money right now”

 

 

Best and the Worst-case scenarios

Worst

  • They hang up on you ⇒ Go for a walk, shake it up and dial the next number.
  • They scream at you ⇒ You don’t know the state of mind they are in. They are having a bad day. Or not. Maybe they are simply a**holes. What’s important here is that it will be only 1% of the people you call.
  • They don’t need what you are selling ⇒ Good. 1 more name crossed off the list. Move on to the next one

Best

  • They buy the product  ⇒ You made a sale out of thin air. If you haven’t called them, would they buy it? From anyone? NO. Congratulations That’s it. Forget the past hour or two you grind for nothing. In this 5 minutes, you made it happen ♥

 

 

Some Techniques to cope up with the fear of cold calling

 

1.  ”Eat that frog”  –  By Brian Tracy

 

Imagine Eating A Frog Alive Early In The Morning. That Is The Absolute horrible thing you could do for the whole day. There’s nothing worse that’s gonna happen (Of course most likely). Call that one annoying client, one that you know for sure to reject you and your product. Once you call him/her, then every other call will be better than that. You have already faced the worst

2.  “The reason to call”

 

You have a reason to call. You are doing your job. You need to do it. Is that all? Absolutely not. You need to believe from your heart that this product you are selling adds value to the prospect. It is for your own benefit. When you believe the worth of your product, there’s nothing to hide. Not even on a subconscious level. You can fight with your tooth and nail for that product. Because.. You believe in it. So.. What if you don’t? Then somehow you need to create that belief. Try the product. Do more research. Talk to the customers who use the product. Find out the values of it. There must be some tight? If not why would anyone buy it?

 

3.  ”Make it a game”

 

Reward yourself with a bar of chocolate for every 10 calls you make. Go for a short run on Facebook / Instagram (The word ”Short” is emphasized). Ok, you want to watch that next Netflix episode? (You sure you didn’t binge-watched it? Who are you??). Watch it as a reward after making 20-30 calls.

 

4. ”It’s not that big of a deal”

 

Alright, this doesn’t sound like a technique, is it? Believe it or not, you are not the most important person for whoever you cold call. They have their own problems and their own lives. Whatever said and done, after the call they will not remember it. Of course, if you made a deal, then they will – Hopefully. But most of the time, they will just carry on with their lives. So you have nothing to worry/think/contemplate about afterwards. Nothing. If they won’t think about it, why would you? Just forget it and dial the next number.

Strategic CSR – A New Perspective Based on Marketing Research

 

#Marketing #CSR #StrategicCSR #MarketingStrategies

 

Below article is composed based on the academic research done by (Bhattacharya, Good and Sardashti, 2020). Also, this is highly condensed and interpreted to keep concise and interesting.

 

A different approach to CSR based on evidence

 

Corporate social responsibility or CSR is a highly regarded concept in the corporate world. It has also become a buzz word, especially with large firms, as initiatives such as ”carbon credit schemes” have begun to emerge. Engaging in CSR activities have now become more of an obligation rather than an initiative of goodwill, in order to keep up with the competition. Hence, CSR is now considered to be a facet of marketing and a beacon of the corporate reputation of a particular firm.

 

Historically, CSR activities assumed to yield the following benefit for the organization.

 

  • It signals the brand value and enhances corporate reputation.
  • Interacting with a firm which engages in heavy CSR, makes consumers feel good about themselves and importantly about the particular firm.
  • Enhancement of brand preference, brand loyalty and positive word of mouth.
  • The HALO effect – Various contributions from CSR activities for the society, assumed to have an implicit yet direct effect on the customers themselves.

 

So… firms engaging in CSR, is massively beneficial to the firm itself. right? Not quite.

 

Based on this research, which is a longitudinal research of empirical studies, some conflicting implications have been found.

The researchers have conducted tests to determine the connection between CSR and perceived Brand quality, Brand differentiation and Brand value. Under normal circumstances, brand value and brand differentiation showed a weak yet positive correlation with CSR activities. Brand quality did not show any significant correlation.

 

But here’s the kicker. The study was specifically designed to measure the impact of CSR under a recession. (2009 economic collapse has been taken as the contextual recession)

 

When there is a recession, Brand value and brand quality showed significantly higher correlations with CSR. Although brand differentiation did not reach a statistical significance.

 

The gist of the study is that CSR activities yield far more benefits to the respected firm in a period of recession than in normal times. Although this has been conducted based on the 2009 recession, this is very much applicable for today’s Covid-19 pandemic induced recessions. Also according to the study, from a pure marketing perspective, CSR does not provide a significant benefit for an organization.

When there is a recession, marketing and CSR becomes the first cut or the cost reduction target. This study emphasizes the continuous or better yet, an increased significance to be bestowed upon CSR activities in these times.

 

Apart from the study results, there are some other psychological factors that could be contributing to this behaviour as listed below.

 

  • The economic restraints of the customers will make them more conscious about the quality of the product and not just the price when making the purchase decision to avert the risks associated with buying. And higher CSR of the firm/brand inevitably implies higher quality.
  • Engaging in CSR activities during a recession implicates the authenticity of the firm.
  • Recessions inherently famous for increasing unethical behaviours of firms, mainly to reduce costs. At a time like this, engaging in more CSR activities makes a perticular firm stand out from the rest.
  • People tend to value altruism more during recessions and reject materialism. This is directly related to a firm’s CSR.

 

Overall, the obvious and important giveaway is this:

During these unstable times, maintain or increase the CSR activities (even if the firm is not doing well) and never cut back on it. Also, the same could not be stated for normal times.

 

Reference

Bhattacharya, A., Good, V. and Sardashti, H., 2020. Doing good when times are bad: the impact of CSR on brands during recessions. European Journal of Marketing, 54(9), pp.2049-2077.

Harnessing emotional intelligence (EQ)

In a nutshell, emotional intelligence is strongly tied with decision making, career success, happiness, relationships and leadership. The highlight is that it is equally important to both professional and personal life.

Is it possible to raise the EQ? Yes, but it takes time, focus and dedication. This article contemplates concisely about raising EQ within an organizational leadership context.

EQ is a vast subject area. Below is a summary of the steps you can take in order to fully realise your potential in EQ. Please google each on your own time and understand these seemingly simple points better.

01

understand yourself

  • Know what you’re feeling and when
  • Reflect on your values
  • Define your purpose
  • Assess your skills
  • Know your style of work
  • Find your leadership style

Explore yourself

  • Identify and label your emotions
  • Feel your emotions. Dive deep – cry if need
  • Convey your feelings to others

Manage yourself

  • Calming down yourself under stress
  • Patience always
  • Clearly define your triggers
  • Prioritize self-care and seek support when need

02

Understand others

  • Think about your coworkers and their major values
  • Discuss with them and verify or disapprove what you thought
  • Practice empathy actively
  • Learn to read emotions

03

Lead others

  • Contemplate on the psychological safety of the coworkers
  • Prioritise and engage in the best practices for teamworking
  • Have a clear and well-conversed process for conflict resolution
  • Be ahead of the organizational change curve
  • Challenge the status quo
  • Leadership is a practice. Not a position. Don’t wait for a leadership position.

 

3 simple tips on Facing Unexpected Changes

 

Below depicts a 03 summarized and simple initiatives you can take face changes successfully. The major change we face right now is the differences in every facet of our life brought about by Covid-19. Below points are valid for any situation whether global or relatively small scale. Embracing change is a skill that will take time and practice.

01

Inspect perspective

The initial step is to acknowledge it. Change is normal and happens to everyone. Take a step back and reflect on it. Find out why it has happened. Do not make any major decisions within 48 hours of the change. Although is tempting to act fast, it takes time for emotions to subside. Making decisions in the most intest moments of emotions is always a bad idea. Seek counsel – you are not alone.

02

Work on the perspective

Crunch whatever the issue/change/problem into smaller parts. Do not look at the mountain, look at the first steps first. Think about past similar experiences but do not rely on it. Every change is unique in some way. Use the past as only a general reference point and build upon it with the new circumstances.

03

Build resilience

Embracing change is always about resilience. But the previous two steps are the prerequisites in building resilience with relative ease.

Everyone can build or horn resiliance. It starts by actively choosing to see things from a positive perspective. Although this is not possible every time and up to 100%, the act of actively trying to see the better side aids in decision making immensely. And over time it will turn in to a habit.

One major aspect of resilience is embracing your multiple identities. Everyone has multiple things/work/jobs they are good at. They just don’t know it because nobody looked hard enough. Think beyond your normal work, about other skills you have in a completely different dimension that you never thought before.