Contents
What are speculative sales?
Speculative sales are a sales method that focuses on creating personal interest for the buyer. The seller guides the client through all stages of the sale, starting from establishing contact and ending with closing the deal. However, unlike traditional methods, where the emphasis is on the product's characteristics, speculative sales are more oriented towards the client's personal benefit.
For example, if a sales agent wants to secure a long-term contract with a publishing house but faces refusal due to an existing agreement with another company, they may start a conversation to uncover the personal interests of the interlocutor. If they discover a shared passion, such as collecting, the agent might offer to gift their collection of rare butterflies in exchange for the deal. This approach emphasizes the importance of personal connections and emotional elements in the sales process.
The economic nature of speculation
In economics, speculation is often defined as a transaction based on price differences. For example, if one entrepreneur buys a product at a low price and sells it significantly higher. However, in the context of speculative sales, this concept is not always relevant. Here, it is about creating a beneficial situation for the client without focusing on price differences. This method is most commonly used in B2B sales, where personal connections and bonuses can lead to substantial profits from deals.
Tools for speculative sales
To work successfully in the field of speculative sales, sellers develop various communication skills and apply several key tools.
- Discounts and bonuses: Offering special conditions and exclusive discounts allows clients to feel valued and interested in making a purchase.
- Gifts: According to research by Robert Cialdini, gifts can significantly increase the likelihood of the client agreeing to a deal.
- Bribes: In large transactions and tenders, bribes are sometimes used to achieve the desired outcome.
- Mimicry: Sellers sometimes use manipulative techniques by copying the behavior and emotions of the client to create a sense of closeness.
- Creating an atmosphere: Sellers can create a suitable atmosphere for the client, such as inviting them to a trendy restaurant or offering transportation in a luxury car.
Where are speculative sales applied?
Speculative sales find application in various fields, including:
- Government and budget organizations: Sellers strive to establish contacts with such structures, using various methods to build trusting relationships.
- Conservative markets: In these areas, companies often work with permanent partners, and the only way to attract new clients is through personal interaction.
- Tenders: Speculative sales play a key role in tenders, where personal connections can influence the distribution of contracts.
Risks of speculative sales
Despite the high revenues that speculative sales can bring, they are also associated with certain risks.
- Loss of clients: If a seller leaves the company, they may take the entire client base with them.
- Instability of personal relationships: Personal preferences of clients can change, making the business dependent on the clients' moods.
- Legal risks: Some methods, such as bribes, can lead to criminal liability.
- Adaptation issues: Sellers accustomed to speculative methods may face difficulties when transitioning to companies with different approaches.
Thus, speculative sales can be an effective tool, but they require careful consideration and understanding of the potential consequences.