"Traditional methods of sales prospecting are grossly inefficient." - Jill Konrath, Author SNAP SELLING
What is marketing? First, it’s about
understanding deeply the needs and wants of your customers and
providing them with greater value. You must clearly identify the
demand in the marketplace. At a minimum, most businesses can improve
significantly in this area. However, the real power and leverage of
marketing comes from the next level of influence, communicating
convincingly your unique and superior value proposition.
Marketing is about communicating with and
educating your customers, prospects, and referral sources why it’s
in their best interest to do business with your company. It is about
educating the right target audience on the unique and superior
advantages, benefits, value, and results you can provide and sharing
the credible evidence/reasons that support and back-up such promises.
In short, marketing is about educating your target market on the
advantages of doing business with you and the reasons why they should
trust you to deliver on your promises.
Instead of impacting one prospect at a time (i.e.
direct selling), marketing allows you to communicate with, educate,
and influence many buyers at once. In a sense, marketing is a
one-to-many selling system. Marketing allows you to target and
influence large groups of customers, prospects, alliances, referral
sources, reporters, etc. in a single action.
Unfortunately, most business owners mistakenly try
to tackle most goals (i.e. growing sales) with a one-to-one, single
weapon, combat mentality. For example, instead of considering the
leverage of marketing (i.e. strategic alliances, referral systems,
direct mail, telemarketing, etc.) to grow sales, many owners remain
in the same comfort zone and deadly rut of using a single weapon like
direct selling. They fail to consider and try new options, new
approaches, and new strategies.
While all businesses have a selling process
(converting leads to customers), most do not have a legitimate
marketing process (generating qualified leads). As such, they miss
out on tremendous leverage and opportunities.
Your goal should be to add an ongoing marketing
process to your business. Again, marketing is nothing more than
understanding the needs of your customers and then communicating to
them the superior advantages/benefits they can derive by doing
business with you. Think of marketing as ongoing education. You
are educating customers, prospects, and referral sources why it’s
in their best interest to do business with your company.
There are only 5 ways to grow your business:
- Keep the customers you have,
- Bring in more customers,
- Increase the average transaction size (unit sale),
- Increase the frequency of purchases, and
- Say “no” to bad customers/prospects.
In short, keep what you have, bring in more
customers, sell larger amounts to them, and sell to them more often.
Do one of these ways and your business grows. Do two or more of
these well, and your business can grow by quantum leaps and bounds,
geometric growth instead of mere linear growth.
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