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There are instances when I get inquiries from several buyers, but these inquiries are not converted into deals. Either after a couple of discussions, communication from the buyer's end stops or he simply declines to carry forward the deal. Is there any way to judge whether the buyer is serious or not? & how we can know genuineness of buyer?
Free Member, Joined :01/07/2007
No of Topics Posted : 1
Reply/Comments : 0
I think before we go into judging whether a certain buyer is serious or not, we need to evaluate ourselves first. We need to find answers to questions like: Does our offerings meet the buyers requirements? Are all the requirements of the buyers included in our offer? Did I respond in time or was it too late? Buyers will ask for quotes and it has to be responded in time so that it is generated into a successful deal. This is competitive and serious business. People who do not take it seriously may come across such difficulties.
The first step to know if a buyer is serious or not is to go for a thorough discussion. Try to find out what the buyer's time-frame is for making a buying decision? How/What/When will the buyer inform the supplier/ seller of your buying decision? Will the buyer need a sample(s) of our product? How much products is he willing to buy? Has he ever bought these products before, and if he has from which supplier(s)? Why is he looking to buy now?
These are certain question that you might or you should ask the prospective buyer. The supplier or seller should understand that most buyers contact you because they want to do business with you. However several suppliers/sellers/exporters lose potential business due to:
(a) Poor communication skills: Don't get back to the buyer in a timely manner with the information they had earlier requested.
(b) Poor product knowledge: In many cases sales executives don't know the product well enough to sell it to the buyer who knows and understands the product and market.
(c) Promising more delivering less: Sometimes sellers promise a lot but when it comes to delivering, they are then unable to deliver. Promise what you can deliver.
(d) Take every inquiry a sale: The market today is very competitive. Plus the buyer will not waste time in several round of discussions. So the seller on the very first inquiry should act as if there is no second chance. Actually in business there is no second chance.
Free Member, Joined :02/02/2007
No of Topics Posted : 122
Reply/Comments : 16
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