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Posts Tagged ‘Specialization’

Marketing in these Economic Times

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Recently, Jim Rudnicki, (far right), Rudnicki & Associates, and I moderated a luncheon for Small Business Owners at Harris Bank hosted by Frank Covelli (center) in Frankfort, IL.  Thank you for the invite, Frank!  It is always enlightening to hear from other Small Business Owners about approaches they are taking to the market given today’s economic times.  The common points “centered around”:

1. NARROW YOUR FOCUS!

2. CROSS-SELL TO YOUR EXISTING CLIENTS AND CUSTOMERS!

3. BE CONSISTENT IN YOUR APPROACH!

We appreciate the opportunity to be a part of such a gathering!  It is another opportunity to share with others and to learn from others how best to grow their business during these times!

Focus on One Market by Ilise Benun

Focus on One Market by Ilise Benun

Focus first on which market to pursue, and then on which tools you will use to pursue that market.

When it comes to choosing a market, start with what you know. Look first at the industries you have served in the past. A marketing plan built on past experience and actual examples will yield live clients more quickly than if you start from scratch introducing your services to a new market. For example, if you worked in pharmaceuticals, you can make a strong case for your experience in the broader market of healthcare or even in peripheral industries, such as medical devices or hospitals.

Don’t worry—focusing on one market doesn’t mean that’s the only work you will do. You are free to take any work you want. But for the purposes of proactive marketing and to streamline your efforts, you must be efficient with your time and money. That’s why it’s best to start with one market, get the ball in the air, and then add additional markets later. 

Ilise Benun, a Hoboken-NJ based consultant, is a national speaker and the author of several books, including Stop Pushing Me Around: A Workplace Guide for the Timid, Shy and Less Assertive and Designing Websites for Every Audience. She is also founder of Marketing Mentor, a one-on-one coaching program for small business owners. You can reach Ilise at ilise@marketing-mentor.com.

What now? SAME AS IT EVER WAS!

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The Talking Heads wrote a song, “Once in a Lifetime” that uses the phrase…same as it ever was!  What does that have to do with marketing in today’s difficult economic times?  Everything!  Your marketing initiatives should be the “same as it ever was!”  What is… “same as it ever was?”  

  • NICHE — Narrow your focus, be an expert, don’t be all things to all people!
  • CROSS-SELL — Expand and package your solutions to your existing clients and customers whom already “know, like, and trust you!”
  • CONSISTENT — One must “receive a message” at least 6 times before “it sticks!”  Keep “raining messages” on your target!  Don’t give up…don’t ever give up!  (my thanks to Winston Churchill)

SPECIALIZE! SPECIALIZE! SPECIALIZE!

Great article by JILL KONRATH…THANK YOU, JILL! 

How to Pick the One Service You Should Sell to Get

Your Foot in the Door

When pursuing big companies, most sellers want to ensure that decision makers know all about the full range of products, services, or solutions that they provide.

Proudly, they brag:

  • “We offer a full breadth of services.”
  • “We provide our clients with one-stop shopping.”
  • “We can handle all your _____ needs.”

These killer phrases are detrimental to their sales objective and actually create massive roadblocks for them. But they don’t want to believe me.

Marketing has convinced them that these words are exactly what prospects want to hear—that prospects will be impressed with their vast capabilities which differentiate them from everyone else in the market.

And, truth be told, they’re scared. By sharing every detail of their offering, they’re hoping that something—one thing—will interest the decision maker and a purchase decision will be imminent.

Unfortunately, it doesn’t work that way.

If You’re Everything, You’re Nothing

Corporate decision makers today don’t want to deal with the “jack of all trades.” Instead, they much prefer dealing with experts who really understand their business, marketplace, and needs.

Plus, when you dump your entire offering on them, you’re not connecting with any urgent or compelling business need. With no focus, there’s nothing there for your prospective clients to grab on to.

Finally, by pitching your entire offering, you’re setting yourself up as a self-serving salesperson who is only interested in winning a new revenue source.

To be successful getting into big companies today, you need a foot-in-the-door strategy that revolves around only one subset of your entire offering.

How I Learned This Lesson

Years ago, I discovered that it was much easier to get into large organizations if I focused on a very specific business problem which I knew I could positively impact—new product launches.

Many companies do a terrible job preparing their field sales organization to sell the new products or services they’re introducing. As a result, sales revenue typically lags far behind projections.

My targeted customers clearly had an immediate, urgent need for help. The success or failure of a new offering is highly visible in the company. If the new product flopped, everyone knew about it. Careers were at stake. Windows of opportunity would be lost, market share could erode, and the lifetime profitability of the product was seriously diminished.

Despite the fact that I was capable of doing training on a wide range of sales skills, I chose to focus my “getting in” strategy on helping salespeople be successful at launch.

In my early meetings with the corporate decision makers, I never confused my message by sharing the entire breadth of my services. The focus of our discussion was always on their product launch issues. Once I had a successful project under my belt, I let my clients know how I could help them in other ways.

Uncovering Your Foot-in-the-Door Strategy

How can you pick the one service you should sell to win first-time business? Try these approaches:

  1. Let your customers tell you.Look at your existing customers to see if there is any similarity between how you got your first contract with these accounts. Did you start out tackling a specific type of problem or opportunity? If so, what was it?        

  2. Find the white spaces.Search for areas that your prospect’s current supplier or service provider might have overlooked. There are always gaps in their offerings. Check out competitive websites to look for possible shortfalls. Think about areas of their business they don’t stress.
  3. Be willing to take the crumbs.You don’t want to position yourself head-to-head against an incumbent. Unless they’re really screwing up, it’s too hard to dislodge them. Go after a small piece of business first, prove your value, and then expand.        

* * *

As far as I’m concerned, phrases like “one-stop shopping” are a bunch of worthless tripe that makes you sound like a cheesy salesperson. The more you try to be all things to all people, the less likely anyone wants to work with your company. It’s time to figure out your own best foot-in-the-door strategy and start using it. Now!

 


 

Jill Konrath is a Contributing Editor for RainToday.com and is a recognized expert in complex sales strategies and creating business value for B2B sales organizations. She is also founder of SellingtoBigCompanies – a web resource that helps professional services providers, consultants and salespeople win big contracts in the corporate market. E-mail Jill at jill@sellingtobigcompanies.com.

 
 
 

 

 

Specialization abounds in technology and…marketing!

Thomas Piette, Midco Systems, January 21 2009, HANG

I had the opportunity to present the “Seven Steps to Small Business Marketing Success” to the Hinsdale Area Networking Group yesterday!  WOW!  What a dynamic group!  They had over 30 business owners in attendance!  Fantastic!  A very vibrant, dynamic group with fantastic questions and some great success stories. 

As each member introduced his or herself, Thomas Piette, Midco Systems, introduced himself as a TELECOM SPECIALIST with some emphasis on security, and his guest, as a SECURITY SPECIALIST with less emphasis on Telecom…Great intro, Tom…like duct tape, that “stuck” for me and assisted me in clearly differentiating “what you do” and “what he does!” 

Tom is pictured with me receiving a copy of the Duct Tape Marketing Book!  Congrats, Tom!  AND…thanks again to the group for affording me the opportunity to discuss the value of building small business marketing systems for their businesses!