Over the years, I have taken detailed notes on my many conversations with business owners, marketing professionals and salespeople in various industries. After distilling this information down, I have determined there are just a few core reasons as to why many are not leaders in their market. That being said, you will find listed below these reasons along with an applicable solution.
- Lack of a Prospecting Database(s)
- They Rely Exclusively On Their Salespeople
- Somebody Else Is Offering More Value
- They Do Not Have A Marketing Strategy
- They Do Not Have A Sales Follow-up Strategy
Solution To Reason #1: Lack of a Prospecting Database(s) - Having a well-defined and manageable database is close to 50% of your sales success. That said, make it a point to have an up to date and comprehensive database comprised of your target audience; whether it is your client, prospect, dealer, distributor file.
After getting a list together, you need to secure the contact name of the person you want to sell to, their e-mail address, their mailing address and their telephone number. There are no short cuts to this process, as it requires a lot of hard work by your salespeople. You may want to consider creating a landing page on your website or a low-risk offer that would give people an incentive for someone to give you their contact information).
Solution To Reason #2: They Rely Exclusively On Your Salespeople - Salespeople are only part of the equation to your sales success. Although a salesperson may be good on the phone, they need to know who to focus on and what to say; therefore, you need make sure they are targeting the databases from item 1 above. Additionally, you need to create a suite of presales tools including but not limited to ROI tools and success stories. You also need to have low risk offers to augment their follow-up calls, track their activities and make sure they are always updating their database.
Solution To Reason #3: Somebody Else Is Offering More Value - We are not talking about the price of what you are selling, we are talking about a competitor who is offering more value - value your prospects recognize, which is why they are not buying from you. Although this is simple enough to fix, most businesses do not take the time to innovate their business by asking their target audience what they want and then shopping their competition to determined what they do. Ask yourself this one simple question: If I were a prospective buyer, what would compel me to buy from my business instead of my competitors? For example, would a Service Guarantee or a XX-Minute Callback Guarantee be of value to a prospective buyer?
Solution To Reason #4: You Do Not Have A Marketing Strategy - Okay, so you are done innovating your business and have determined that you are the best value in town. However, do you have a plan in place to present this to your target audience? What you need to do is develop the right mix of marketing campaigns that fit your budget - campaigns built around a solid marketing strategy. You need to not only tell your story well, but also tell it consistently. Like I tell everyone, "If you aren't dripping, you ain't marketing."
Solution To Reason #5: You Do Not Have A Sales Follow-up Strategy - One the biggest failures a business can do is to follow-up on a major campaign. Sure, you can tell your salespeople to call someone, but just because you tell them to do it does not ensure it is being done. What you need to do is to develop a formal follow-up strategy that your sales team sticks to doing. We also recommend setting a dedicated number of days and times for your salespeople to get on the phone and CALL their targeted prospects. Do NOT take any excuses as to why they cannot attend these sessions. This is so simple for a business owner to do, but few companies know that this one little proactive event can skyrocket their sales. Remember this: The troops do what the company commander monitors. If you are the company commander, you need to step-up your game to ensure these selling events are done.
Summary: These solutions may seem simple and brief to you; that is because I am taking the book I am writing about drip marketing and compressing it down to this one page e-tip. But please realize this: The key to effective marketing is to let your target market know in a consistent and compelling way the value you are giving them. And if you have truly innovated your business, then it is just a matter of time before you start winning over more prospects faster and easier than your old way of selling.