If you are a supplier, do not underestimate the power of asking questions. The right question can help you find out what your potential customer needs, while the wrong one can get you eliminated from contention. You may want to start by considering these 10 questions that typically, b2b buyers ask potential suppliers to answer during the sales process:
In an ideal world, a buyer would have all the information they needed to choose a supplier before issuing a request for quote (RFQ), but since this is not always the case, it's important to recognize the questions that typically, B2B buyers ask potential suppliers to help them make their decision.
Before preparing for an RFQ, buyers should first consider what they want from a supplier and then be prepared with specific questions that will help determine if this company should fulfill those needs.
Before asking potential suppliers any specific questions, a buyer must first consider whether or not this company is capable of supplying the products or services required by both parties involved.
For example, if possible, buyers should contact past clients of the company in question as well as companies that offer the same type of product or service to ask for recommendations before giving out their contact information.
If a supplier is not capable of supplying a company's needs, it might be wiser to look elsewhere because providing this business with an RFQ will only waste valuable time and energy.
Of course, while considering what kind of supplier they should use, buyers should also consider how much they are willing to spend on this product or service as well as when they need it in order to ensure that potential suppliers meet their criteria.
In addition, buyers should discuss any other requirements or specifications with their managers so that these specific details can be included in the RFQs sent out for review.
1) What is your minimum order quantity (MOQ)?
Typically, b2b buyers ask Potential suppliers to understand the buyer's MOQ before making an offer.
Keep in mind that this is not a production or delivery MOQ, it can be as low as 1 unit for some products/services and 5,000 units for others.
Typically speaking, I would consider anything below 50 units to be small orders. Keep in mind that the smaller the quantity desired by the buyer, the more time consuming it will be on your end to provide them with proper documentation and samples.
2) Delivery lead times?
This is extremely important because most B2B clients operate with tight scheduling due to the fact that they have inventory, personnel and other resources to manage.
Be sure to ask the supplier for their current production lead time to get an idea of how long it will take for them to fulfill your order. Keep in mind that most suppliers require a minimum of 4-6 weeks lead time for new orders, but this varies depending on the product/service.
3) Price?
Typically, b2b buyers ask potential suppliers to about pricing. Naturally, buyers are going to inquire about pricing information from potential suppliers.
However, it's important not to focus exclusively on price as there are other factors (quality, delivery, etc.) that need to be considered when making a purchasing decision.
That being said, it is still important to get a general idea of what the price range is for the product/service you are looking for. The rule of thumb here is to get 3 competitive supplier quotes and find out which one offers the lowest overall cost (price, logistics, quality).
4) What is your payment term?
Once an order has been placed with a supplier, it's important that they have good credit; thus making it easy on the buyer to pay them.
Typically speaking, suppliers prefer that their clients pay within 30 days after receiving a B/L copy from shipment. On the other hand, many suppliers offer terms between 14-60 days if they know you're a reputable business partner.
Some suppliers will even accommodate shorter terms in exchange for a commitment letter or up-front payment.
5) Are you an authorized distributor?
Typically, b2b buyers ask potential suppliers to about this question. This is an important question for buyers as it helps them to determine if the supplier is authorized to sell the product/service that they are looking for.
If the answer is no, then it's likely that you'll have to go through a long and arduous process of qualifying the supplier before making a purchase.
In some cases, it might even be better to find a supplier who is an authorized distributor as they will have more credibility with your buyers.
6) What type of quality control do you have in place?
This question is important for two reasons:
7) Do you have a sample that I can see?
In most cases, samples are provided free of charge as proof of capability and quality.
That being said…make sure you don't get fooled by paying for a "special" or "customized" sample because it might not reflect what your order may look like.
Another thing to keep in mind is whether or not the supplier's samples meet internationally recognized standards (ISO 9000/9001).
8) What kind of transportation do you use to ship my products?
You'll want to inquire about this from potential suppliers as it helps buyers determine where they stand on the matter of shipping.
Some suppliers might use their own transportation, while others may use a third-party carrier. If the latter is the case, be sure to ask for a few quotes so you can get an idea of the average cost.
9) What type of warranty do you offer?
This question pertains to the quality of the product/service that is being supplied by the supplier.
Typically, suppliers will offer a standard warranty (1-2 years) on their products, but this could vary depending on the product/service. It's important to have this information in hand before making a purchasing decision.
10) How long have you been in business?
This question gives buyers an idea of how established and reputable the supplier is. If the supplier has been around for a long time, then it's likely to be an experienced and capable business partner.
However, what you don't want to see is a one-year old company trying to do business with you because it could indicate that they haven't yet established themselves as a trustworthy or reliable source for your products/services.
Product presentations are an important part of any business. As a supplier, you need to know how to present your product effectively in order to get the sale, but buyers won't be impressed by subpar presentation skills.
1) Stick to the Point- When giving a product presentation, it is important to stick to the point. Don't go off on tangents or spend too much time talking about irrelevant topics.
This can be frustrating for buyers and will likely lead to them losing interest in your product. Instead, focus on highlighting the key features of your product and how they can benefit the buyer.
2) Practice Makes Perfect- Practice makes perfect! If you want to make sure your presentation skills are up to par, practice in front of a mirror or with friends and family members.
This will help you get comfortable with speaking in front of others and help reduce any nerves you may have. Plus, it never hurts to have a few practice runs under your belt.
3) Provide Useful Information- When giving a product presentation, it is important to provide useful information that can help the buyer make an informed decision about whether or not they want to purchase your product.
Keep in mind that you need to know more than just what your product does and how much it costs – potential buyers will also be interested in other factors such as warranty length, shipping details, etc.
So don't skip this part! If you're having trouble figuring out what kind of additional information might interest your audience, try doing some market research before giving the presentation so you'll have a better idea of what people are looking for. You can then tailor future presentations towards addressing their specific needs.
4) Don't Forget Your Questions!- Don't forget to close your presentation by asking the buyer any questions that may have come up during the talk.
This is a great opportunity for you to learn more about their specific concerns and can help identify areas where they need further clarification.
A good way of approaching this topic is by saying something along the lines of, "Now that we've gone over my product, do you have any other questions?" or "Is there anything else I could cover in order to address your concerns?".
Keep it open-ended so buyers aren't restricted with what they are allowed/not allowed to ask – this will actually encourage them to speak up if they forgot important information or want some clarification.
5) Use Visual Aids Wisely- Visual aids can be a great way to help explain your product and its features, but it's important not to go overboard. If you use too many visuals or they are too cluttered, it can be difficult for buyers to follow along and they may lose interest.
Try to stick with a few key points that you want to highlight and use images and/or videos to support your explanation. This will make the presentation more concise and easy-to-follow.
6) Be Confident!- One of the most important things you can do when giving a product presentation is to appear confident in what you're saying.
Don't fidget or seem nervous. Instead, look the buyer in the eyes and speak with a clear voice so they know you are telling them everything truthfully. Having confidence can help buyers trust your product more easily, which will increase their desire to purchase it!
7) Be Prepared for Questions!- Make sure you're prepared for any questions that may come up during your presentation – especially if someone raises their hand or asks you something out of turn.
When answering these questions, keep calm and try not to sound like you've been caught off guard. Remember that potential customers aren't trying to trick anyone; instead, they just want good answers from people who actually know what they are talking about. So stay on your toes!
8) SecBe Flexible!- It's important to be flexible when giving a product presentation so you can adjust things if/when necessary.
For example, maybe the buyer is very interested in one specific feature but isn't as concerned with another part of your product – this means that you should spend more time covering the topic they care most about and save less-important issues for later (or just not mention them at all).
Try to use some empathy here; try thinking about how someone else would perceive what you're saying or doing during the talk. This way, you'll have better control over everything that happens and will hopefully avoid any embarrassing situations due to lack of preparation!
9) Keep it Fun & Informative!- Your product presentation doesn't have to be a day at the park, but you should try and make things as lighthearted as possible.
This will help buyers feel more comfortable with what's going on around them – especially if they are meeting with your company for the first time or don't know anyone else who is there with them!
You can do this by asking questions throughout the talk so that people interact a little bit and by throwing in some interesting facts about your industry/product here and there.
These types of comments from you may even inspire others to contribute their own thoughts which could lead into an engaging discussion among everyone involved. Don't be afraid to have some fun with it!
10) End on a Positive Note- No one likes to feel like they're being forced into anything, so make sure you end your product presentation on a positive note.
This could be as simple as saying something like "Thank you for your time – I hope this was helpful" or "If you have any other questions, please don't hesitate to let me know".
You could even offer a discount or free trial if the buyer seems interested in what you've presented. Whatever you do, just make sure that the buyers leave feeling good about the whole experience and excited to learn more about what you have to offer. I hope you’ve got your answer as what typically, b2b buyers ask potential suppliers to.
