[Kickb]

I have a product idea that i would like to pitch to a few companies. I've been told I need to call headquarters and speak to a buyer.

Does anyone have any idea what questions they will ask and/or any tips?

My product is The Impurity Ring-basically the opposite of a purity ring.

any input would be much appreciated

[Moma]

(05-06-2011 03:35 PM)kickboxer Wrote:  

I have a product idea that i would like to pitch to a few companies. I've been told I need to call headquarters and speak to a buyer.

Does anyone have any idea what questions they will ask and/or any tips?

My product is The Impurity Ring-basically the opposite of a purity ring.

any input would be much appreciated

What is an impurity ring? What benefits does it have? How will the companies profit from this ring?

[mikeymike]

lol an impurity ring, like a more visual tramp stamp indicating you put out on the regular. I like it, makes our job easier.

[Caligula]

(05-06-2011 03:35 PM)kickboxer Wrote:  

I have a product idea that i would like to pitch to a few companies. I've been told I need to call headquarters and speak to a buyer.

Does anyone have any idea what questions they will ask and/or any tips?

My product is The Impurity Ring-basically the opposite of a purity ring.

any input would be much appreciated

Haha great idea.

Hard to give good advice without more specifics - it's been a while since I was smiling and dialing regularly. However, I've done a lot of cold calling.

If you're pitching big companies (eg. buying department at a retailer) getting to a decision maker can be half the battle. Figure out who makes decisions and keep pushing until you get to a decision maker - anyone else will just dick you around and you won't get anywhere. If you can find out their names online (linkedin, company website) call up and pretend you already know them when you get to a PA/receptionist.

Otherwise just call up and say "I don't know if you can help me... I'm trying to ... Do you know who can help me with that?"

Once you're through to a decision maker you'll want to be working from a script or rehearsed pitch. Then tweak this as you figure out which angles work best.

You're not cold calling to make a sale - in almost all cases you're doing it to get a follow up meeting. Always push to get a meeting in the diary, avoid letting them fob you off with talk of a follow up call. Make it as easy for them as possible - "You know what, let's get together. How about next Thursday at 3pm at your office?"

Never give in at the first sign of resistance. Neutralise the first objection someone throws you - a lot of people automatically brush off cold callers without thinking. Eg. Customer: "I'm not interested" - "You know what, that's what a lot of people said before they had a chance to find out more.. I'm going to send you some more information and then follow up with you Monday next week." or go straight for the close "It would actually be worthwhile for us to get together how is ... for you?"

Avoid dead end yes/no questions. Push for a decision as soon as possible - an firm no is a good thing since you'll then have time to focus on better prospects.

There are some good books on cold calling out there, if you're doing a lot of it it would be a worthwhile investment.

[manilaguy]

Sales is the master skill. You won't learn it in books, that's what makes it bad ass. Anyways, here are my thoughts on this as a top-seller.

Know your product inside and out (and of the competitor).

Work on the pitch until it becomes extra-ordinary.

In sales, the trick is to captivate the target by "trapping" them to a limited response. It is a logic game. You must have a caustic rejoinder for counter arguments which you have already anticipated.

CLOSE the deal. You are not an entertainer CLOSE the damn deal.

Leads are your life blood.

You will also have to find, what the industry calls, "your style". Everyone has a style.

Every target has a breaking point. I sometimes employ what I call "trampling" where I benefit bomb the target until their mind registers a benefit. Sometimes I make them like me first, sometimes I treat them like unqualified clients so that they feel I'm doing them a favor.

Find the opening, find what they need. Probe.

Lastly,

sales men are like shark. the best of the best operate like sharks. they smells weakness and lunges at the opening, grabbing the opportunity to close the deal.

happy hunting!

[Caramel Communist]

Yep....

Buyer will want to know your FAB statement
Features
Advantages
Benefits
-target market, demographics, psychographic data, segments...how it aligns with them? What data do you have to back this up or market research?
-projected sales for year 1 and year 2
-what channels are you focusing on? ecommerce? retail? tatoo shops?
-distribution process
-manufacturing process

Will also want to know
-cost
-discount pricing for volume
-terms for billing net 15-30..do you extend credit?
-References or other customers who bought/quantity - if none, say your the first customer I contacted...don't lie.
-If they buy, how soon can you get x amount to me
-Any liability or health hazards
-Your CRM or Customer service operations-how do you handle complaints. They do not want you passing on the complaints to over to their system.
-If product doesn't sell, do you pick it up and credit them..how long is the process if you do
-Where do you want this product positioned? Register, shelf, endcap?
-If they agree to sell it online, will you syndicate content by feed or provide pictures, product details?
etc...etc...etc...

[Kickb]

Hmm thanks alot guys, i see there is still a ton of work on my end that needs to be done before i'm ready to talk to any of these guys.