Mango season in Mumbai where I live is almost behind us! I work from home which means it takes a special kind of focus to get anything done. It also means that I get to witness strange and interesting things through my day! Last July, while I was plopped at the dining table working on my laptop - I could overhear the conversation my mother was having with the aam wala (mango vendor). After a bit of haggling, my mom eventually ended up buying the mangoes for a handsome price! In fact she probably paid a lot more than they were worth. But she was happy, and so was I, because I had learnt a few sales lessons from the conversation between my mom and the aam wala! ;)
Top 3 LESSONS I could gather from the conversation:
1. Craft an emotional story/create a desire: Our mango vendor weaved an entire story about where he gets his mangoes from, who grows them and the entire journey from farm to table. It makes you want to become part of this story by choosing to consume these mangoes.
2. Be authentic: He claimed his product is the freshest, most delicious, most nutritious. Of course he was trying to make a sale, but there was so much authenticity in his voice that it felt as though HE really believed in his product and stood by it.
3. Communicate value and not price: He said his prices are non-negotiable and quickly moved the discussion away from pricing. Instead of trying to haggle on the price, he insisted that my mother shift her focus to the premium, supreme quality product that she is receiving. He insisted that this would be her last opportunity to enjoy the delicious mangoes and that she would have to wait for another year to experience the same! In a subtle way way he created urgency and scarcity.
In the end, my mom did end up buying the mangoes at the quoted price, and both the aam wala and my mom had a smile of satisfaction on their face! :) More often than not, you learn important life lessons NOT in business school - but just by opening up your eyes and ears to your surroundings. Everyone has something to teach us if we are paying attention. At NEP, we teach you important lessons not theoretically - but practically and experientially. This ensures that the learnings stick with you. We have one such experiential workshop coming up on Tuesday, Sept. 26th @ 7:00 pm IST. The Profit Prescription: Pricing Strategies for Nutritionists and Dietitians. CLICK HERE TO REGISTER for the same. You will learn many more strategies to up your game!! - Dr. Vishal Marwah Program Director, NEP