Courtesy of our guest blogger Andy Chiodo - Charisma PR
“The only thing that is more misunderstood than Marketing is love.”
Successful marketing, in any situation, requires a clear understanding of what prospective customers will PERCEIVE as valuable. In today’s economic conditions, that is more important than ever.
How? Simple, you have to get back to basics.
You have to know the following five essentials:
- Know your prospects by knowing your current customers
- Know what customers will believe is your company’s real VALUE
- Keep your sales “pitch” focused on VALUE
- Keep it simple
- Stay consistently visible
1. Know Your Prospects By Knowing Your Current Customers
The first step is making sure you know WHY your current customers do business with you. This is critical to turning prospects into customers. Too many businesses, in this economy, believe that the right prospects are defined as “anyone with money.” This is a fatal mistake.
Because they believe that fatally flawed idea, some companies attempt to portray themselves as all things to all people. The rationale goes something like this: “If I limit my markets, I’ll miss opportunities.” However, most of the time, this approach is going to make selling harder, not easier.
No matter how wonderful your product features and fanciful your approach is, the issue is simple and functional – if you don’t know WHAT they want to buy, and HOW they want to buy — you will be disqualified.
2. Know What Your Current Customers Believe Is Your Company’s Real Value
“Mine” your current customers to find out WHY they bought – and, hopefully, continue to buy – from you. You may be surprised to find out what they say, once you get past knee-jerk: responses like “you do a good job.” What you REALLY want to know is HOW you got the chance to demonstrate that you were capable of doing a “good job.”
Without being pesky, you have to GENTLY by asking questions like “what was it that convinced you to do business with my company?” In many cases, the answer will be something like “because you were referred to me by someone I trust,” “because you seemed like a nice person and knew what you were talking about,” but the REAL reason is “because you didn’t waste my time, and found out that I needed X and convinced me that you could deliver it.”
3. Keep Your Sales Pitch Focus on PERCEIVED VALUE
Every company must routinely question its own value proposition. WHY do your current customers buy your product or service? Is it because they see it as a “must have” or a “nice to have”? These days, it has to be because it’s a “MUST have.”
To your current customers, “X” is what they PERCEIVE as the value you deliver. In the marketing business, this because the basis of your value proposition – the “offer” you make to provide something that the customer sees as having value.
SO – if you have done your homework, you will know WHY what YOU sell is perceived as a one of those oh-so-important “must haves.” Make sure that everything you say or show is based on that “must have” perceived value.
4. Keep It Simple
In the marketing business, “creeping elegance” is considered dangerous. The more a prospect hears that sounds “complicated” the less chance you have to sell. Many businesses get so wrapped up in going through an elaborate pitch, or feel that they have to “educate” their prospects to the point where they lose the sale.
The majority of prospects care about THEIR issues, not yours. If you stick to what they perceived as needed, make sure that you have presented your value proposition and that they understand it, you have much better than even odds to close a sale.
And, once the prospect is nodding yes, smiling and agreeing – stop talking and close the sale. Continuing to “pitch” after they have already agreed to buy is annoying and potentially fatal. There’s absolutely nothing wrong with saying, “So, why don’t we just go ahead and pick a delivery date?” If they’re happy, you’re done, if they have any issues – you have a chance to resolve them and move forward.
5. Stay Consistently Visible
Make sure that you keep in touch. Make an effort to email pertinent things to customers – forwarding information that relates to their business and could be of value is one way, calling occasionally is another – best of all is to know when they will need MORE, and call to sell it.
