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Ten things you can do now to stay ahead of the competition and keep the pipeline full.
Even if you don't believe that times are getting tougher, the chances are your customers do. In times like this you can carry on doing what you always do - and hope you ride out the storm. Or you can take the opportunity to focus on what really matters in the expectation that it will not only see you through the current climate, but will also put you in pole position once things have calmed down.
Here are ten things we think most companies could readily do, without having to restructure or redefine their strategy. What's perhaps more interesting is that we think your customers will thank you for doing them too.
1. Tune your message to pin point accuracy.
Your customers and prospects won't set aside time to see if they can work out how what you offer might be of use to them. Yet most marketing approaches assume that the customer is willing to do exactly that.
Generic, broad-brush messaging says you are a "vendor" of generic products or services; which translates in the customer's mind as "commodity". Commodities tend to go down in price.
Assuming that's not the sort of positioning you had in mind, you'll need to look at ways of presenting your product or service as the "perfect, natural fit" for your customer's specific needs or objectives.
That means you'll need to do the thinking for them. If you do, you have a good chance as being seen as a supplier who could be a valuable and trusted partner and as a result see a long term and profitable relationship. If you don't there are two possible outcomes:
1. The customer won't do it and so you'll either be ignored or you'll be lumped in with all the other "vendors" asked to quote as part of a benchmarking exercise. 2. The competitor will do it and as a result you'll for ever be seen as the company that couldn't be bothered.
How do you do it?
You'll need to spend some time thinking about the right questions to ask and then work out the right people to ask and the right way to present them. Customers like companies who "can be bothered". Find an appropriate way of making the approach and they'll give you the time.
Map what you know about the sector or the company already against what you know about other companies in that sector or indeed other companies in other sectors you believe might have similar issues.
Study the industry press. Check out the research organisations or analysts for the sector.
Then test your assumptions and messages with some pilot campaigns a focus group or with a friendly customer over lunch.
This just takes an investment of time and focus. The alternative is the "busy fool" syndrome. This will be effort and time well spent. The ROI will astound you.
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