The number one differentiator between consultants who earn great yields and those who scrape by is confidence.
Not arrogance, most of us have quite enough of that, but confidence.
The confidence required to speak directly to executive level managers, on the issues that are pertinent and important to them, and to advise them without fear or favor.
These are people just like you are. They have worked their way up the ladder just as you have, and they have a very specific background in the industry you are working with normally.
Make sure you can speak to broader issues in their industry. Not with the specifics that they have, but with a knowledge that shows you at least are conscious of their concerns.
Make the case for the value that you bring. We were recently challenged on our experience in the gas sector (which we have a lot of) I was able to confidently tell the CEO that he actually didn't need any more Gas experts. They were dripping off the walls. What he needed was experts in how to care for large scale distributed asset bases.
Make your intentions clear. CEO's, Execs and others have no problem with business. They expect that you are there because of some issue related to your hopes for revenues etcetera. It is not a bad thing to make it clear that you are looking for an opportunity to prove value for them.
Don't back away. Heads of large companies are surrounded by a sea of nodding heads. They don't need any more.
If you state a position, or state a specific course of action, then be sure of it and do not back away from it when immediately challenged. You need to be seen as a person of substance who has the experience, mettle and wisdom to help in specific areas where they do not.
That is the essence of what we do anyway isn't it? Find, create and spread leading practices, the role of a consultant. And they are talking to you because they hope you are able to do that for them.
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Showing posts with label Pitching. Show all posts
Showing posts with label Pitching. Show all posts
January 22, 2010
January 20, 2010
The real secret to sales success
You never get if you don't ask!
Closing techniques went out with selling hairbrushes and insurance door to door. Nobody falls for "your pen or mine" anymore, and they are increasingly cynical because of it.
For consultants the sales process is exactly that, a process. We live and die by the value of our last engagement. Our calling card is our track record and the brand we have created from it.
If it doesn't fit, then don't try to make it fit. You will just burn yourself out, burn out their patience and trust, and ensure a low likelihood of repeat work.
During your discussions with the person who pulls the trigger, at some stage you will have identified the opportunity where you could help, established your value in the mind of the client, and bought her to a place where she is comfortable in spending whatever is required to achieve that value.
Then you ask for the order.
"How can we bring this to a close?"
"What else is needed for us to proceed here?"
"What are the next steps here?"
At all times your intentions are clear. There is no hidden agenda. You are there to do business, this is not a charity after all.
You could get into the whole fencing thing with objections and countering statements. But that is more like forcing a sale than making a sale. In the end, your best results, and most likely chance at consulting repeat work, is to develop a process that allows for a win win situation.
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Closing techniques went out with selling hairbrushes and insurance door to door. Nobody falls for "your pen or mine" anymore, and they are increasingly cynical because of it.
For consultants the sales process is exactly that, a process. We live and die by the value of our last engagement. Our calling card is our track record and the brand we have created from it.
If it doesn't fit, then don't try to make it fit. You will just burn yourself out, burn out their patience and trust, and ensure a low likelihood of repeat work.
During your discussions with the person who pulls the trigger, at some stage you will have identified the opportunity where you could help, established your value in the mind of the client, and bought her to a place where she is comfortable in spending whatever is required to achieve that value.
Then you ask for the order.
"How can we bring this to a close?"
"What else is needed for us to proceed here?"
"What are the next steps here?"
At all times your intentions are clear. There is no hidden agenda. You are there to do business, this is not a charity after all.
You could get into the whole fencing thing with objections and countering statements. But that is more like forcing a sale than making a sale. In the end, your best results, and most likely chance at consulting repeat work, is to develop a process that allows for a win win situation.
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July 4, 2009
Consultants and the Cold Call
There has been a lot said about the consulting profession and the cold call. Some are vociferous in their contempt of the practice. Tending instead for an approach to pre-meeting prospects in networking events such as trade shows, or to draw prospects to them via their brand.Strangely, the people who repeatedly make statements like that are not actually in the B2B marketing game at all, instead they are selling their own books and seminars to the public, or a slice thereof.
Others are effusive in their defense of the cold call, employing telemarketing services to drive up attendance at public seminars and training courses. This does work, I have used it myself. Although it tends to convert into future work less than attendees who were found through more traditional marketing means.
I returned to Australia after over a decade working around the globe. (15 years if you skip over the short break) My network is essentially outside of Australia in Europe and the US in particular.
I have had no option but to use lots of different versions of the cold call to generate work. But (and this is important) I never cold call with the hope of closing a sale. Selling consulting services, as with everything else, is all about scarcity, value and principally about trust.
Trust that you are a decent human being, and that you can deliver what you say you can deliver. Sales will not happen without trust in the equation.
However I always cold call with the hope of starting a relationship.
Here are some versions of the cold calls I frequently use, listed in order of efgfectiveness. (Or maybe it is just my own preferences)
1) The LinkedIn cold call.
Directly to the person in question, or via an introduction by an intermediary. These have been exceptionally useful for me and I recommend you check out the article I wrote a while ago about generating revenue via your LinkedIn LogIn.Always a humble Inmail. followed by a short email, followed by a phone call / visit or whatever. There are other ways, connecting first followed by a contact Inmail some weeks later is often very successful also.
2) The Book cold call.
I send a copy of one of my books on Engineering, accompanied with a brochure on the services and products our company offers, complete with client referrals. Always focused on the business sector associated with my prospects company.
I actually almost always get a reply from this approach. The combination of a trust based asset, the books and referrals, combined with the targeted information in the brochure is often enough to get me at least a hearing with the prospective clients.
Also works with unsolicited reports if they contain actionable and valuable data.
3)The Telephone cold call.
I love these. I really do enjoy making contact via the telephone, and particularly on cold calls. Call me masochistic....Following up from a conference, chasing down information on a certain issue, reference checking or just to introduce your product. Once you have a good reason to speak to somebody, and they are willing to give you a hearing, you can often generate a lot of opportunities for near term discussions and to build a relationship.
4)The email cold call.
Less effective for me as their is so much garbage floating through everyones inbox every day. It is really hard to get noticed this way.
The times that I have it has been because my personal brand was already known to the prospect, making him or her at least interested in what this could be about. Not great unless you can back it up with some form of brand recognition. For me, only partly useful sometimes.
These are my methods of cold calling. Always personal, always to start a relationship - not to make a sale, and always done with the confidence that I am representing something that could fundamentally improve their lot in business life.
Good luck.
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June 13, 2009
The perils of "Value Added" services
When you offer "value added" products the implication is that they were worth less before, or that they were even value-less.
Value added is how competitors try to position themselves in a commodity field. ERP players used to be swimming in a sea by themselves. Today, they are in fierce competition for a dwindling market. Price becomes a key factor.
To get around that - and to try to sustain something like the profit margins of the good old days, they offer additional services - normally for an extra cost - or to try to prop up their prices for their bread and butter work. They offer value added services.
What does this do in the market? Clients start to believe that they are paying either the right (low) price for the existing services, and maybe even overpaying.b The result, the expectation that they can get more for less...they are already getting a pretty good investment!!
Here are some ideas to try out to get away from talking about, or even offering to give value added services.
1) Establish your value at the onset. Work through this stage with the clients, work through the issues, problems, past costs, future risks etcetera. Get them to assign a value to it. Help them, facilitate the process, but ultimately they need to make the statement.
Then they know the size of the issue facing them.... but this is only the beginning. They know now the problem, but may believe that they could employ any number of people to fix it. So...
2) Make sure that you have established your ability to deliver this value - rapidly. A track record of success, a brand that screams value, a long list of verifiable case studies, and a long line of people waiting to refer you if required... all pointing to the fact that you can be trusted with this problem.
3) Deliver extraordinary value. In fact, number 2 is not possible without number 3. Make a lot out of your ability to compare with other anonymous industry leaders, your ability to produce scarce and valuable insights, and your ability to connect with others who are leading the field in whatever it is they want to do.
And when it is all over you must help them to work through what has been achieved, and help them to quantify the results of it, as well as understanding the steps that are going to be needed to make it all happen. Something you, and they, have had your eye on since the game started.
Adding value is a 1990's con... and one that devalues your products and services. Selling value is what you want to be able to do - and then deliver beyond expectations.
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Value added is how competitors try to position themselves in a commodity field. ERP players used to be swimming in a sea by themselves. Today, they are in fierce competition for a dwindling market. Price becomes a key factor.
To get around that - and to try to sustain something like the profit margins of the good old days, they offer additional services - normally for an extra cost - or to try to prop up their prices for their bread and butter work. They offer value added services.
What does this do in the market? Clients start to believe that they are paying either the right (low) price for the existing services, and maybe even overpaying.b The result, the expectation that they can get more for less...they are already getting a pretty good investment!!
Here are some ideas to try out to get away from talking about, or even offering to give value added services.
1) Establish your value at the onset. Work through this stage with the clients, work through the issues, problems, past costs, future risks etcetera. Get them to assign a value to it. Help them, facilitate the process, but ultimately they need to make the statement.
Then they know the size of the issue facing them.... but this is only the beginning. They know now the problem, but may believe that they could employ any number of people to fix it. So...
2) Make sure that you have established your ability to deliver this value - rapidly. A track record of success, a brand that screams value, a long list of verifiable case studies, and a long line of people waiting to refer you if required... all pointing to the fact that you can be trusted with this problem.
3) Deliver extraordinary value. In fact, number 2 is not possible without number 3. Make a lot out of your ability to compare with other anonymous industry leaders, your ability to produce scarce and valuable insights, and your ability to connect with others who are leading the field in whatever it is they want to do.
And when it is all over you must help them to work through what has been achieved, and help them to quantify the results of it, as well as understanding the steps that are going to be needed to make it all happen. Something you, and they, have had your eye on since the game started.
Adding value is a 1990's con... and one that devalues your products and services. Selling value is what you want to be able to do - and then deliver beyond expectations.
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June 9, 2009
Removing friction from sales of services
Sales are easiest when friction is reduced. I have no problem buying from Audible.com or Amazon because I can do so with one-click buying. I tend to buy more than if I have to enter my credit card details every time, or my address.If I want a newsletter, and I am faced with a form containing numerous mandatory fields, I often navigate away out of sheer annoyance. Note: I don't consciously make a decision if I want to go through this level of pain to get the newsletter... I just move on.
They had their chance to get me, they made it too hard, and I'm outta there...
I was looking around the internet for online storage for file sharing within my team of consultants. I went to Box.net first. I entered my details, then I clicked the buttons and had to enter my credit card details.
I don't have my card with me, I couldn't be bothered looking for it, and I moved on. I now have an account with FilesAnywhere.com. (Who didn't ask for anything beyond name, username and password)
I need this service, and I will probably pay for it at some stage once our requirements get larger. My first option now is going to be FilesAnywhere.com. They have "got me" and they have a chance to prove to me (or you) that this service is the no complications one that I need.
Thats more than the rest of the plethora of service providers got from me... and as attention gets even more scarce, reducing friction in sales will become a deciding factor.
Are you helping your clients to buy? Or just putting stumbling blocks in their way?
1. Don't pitch over their budget. If they cannot authorize the level you need then you are dealing with the wrong person!
2. Use subscription services where ever possible. Take away many decisions to buy and replace them with only one.
3. Don't allow "No" to be one of the options that you present. Words, your use of them, and how you frame your arguments are keys to driving the negotiation towards the ends that you require.
4. Always provide options and progressions. Set up the next steps while the first step is still being started.
5. Reduce the steps for them to speak with you, and for them to get what they want. Answer emails promptly, return calls promptly, no web forms,and no gatekeepers. We get so focused on getting our details out there, yet we often don't act promptly when they are used.
If they don't ask for it, then don't offer to send them your encyclopedic volume of information on whatever it is you do. Explain, impress the value upon them, and close.
6. Be sure that your reputation precedes you. B2B referrals, strong track records and a long line of people waiting to refer you always make it far easier for a client to buy. It takes the risk out of things.
Any further advice for helping other consultants to remove friction from the sales process?
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June 6, 2009
Marketing 2.0 - It's all about trust !!
Marketing 1.0 was advertising. TV slots, Billboards, Radio spots and magazine (print) ads. These still have their place, and they're a lot of fun, but the game has changed. Cynicism, the evaporation of trust and changes in our reading and entertainment habits has given rise to a whole new swag of marketing techniques and practices.
Marketing 2.0 is all about trust. Using trust based avenues to reach the unreachable, and to do so in a way that raises the chance of them buying something from you, at some stage. This is more than getting your name out, it is getting your name out attached to something, some form of value or benefit that people want to possess.
Here are the top three marketing avenues available to you today.
1. Sponsored blog posts. Drawing on the trust of leading bloggers to reach their audience. These are great because bloggers will not risk their readership, or their credibility, by referring somebody who is not worth it. So the reviews are honest and allow you to be introduced to a large group of people by a trusted source.
2. Interviews and guest posts. The world is swimming with blogs, news sources and failing publications. In the increasingly commoditized world of news - scarce and stand out content is something to be fought over. You can make yourself this content for your markets. Another form of introduction to a large audience by a trusted source.
3. Permission based marketing avenues such as your own personal blog, your own personal email newsletters and your own channels on YouTube, or even Twitter. I think the most important element here is that the traffic you have, or the followers in the case of Twitter, need to be authentic . Not just the result of some following technique.
4. Referrals, but not as you have ever known them. Referrals are a different creature than they were even two short years ago. Today a Twitter Re-Tweet, if done by the right people, can have far more effect than a month of display ads on Adwords. Your LinkedIn recommendations, if collected from the right people, are a permanent and public trust based asset for you. A record of trust by those others may trust.
The world is changing. You can push against it and continue to employ old world gimmicks like TV spots, SEO advertising and spam-type marketing. Or you can start to really try to leverage the trust that exists out there.
Amway, as I have noted may times on this blog, is built on trust. A network of sales reps all over the world selling to their family, friends, and extended circles of friends.
Amway turned over 7 billion last year. Thats a lot of trust...
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Marketing 2.0 is all about trust. Using trust based avenues to reach the unreachable, and to do so in a way that raises the chance of them buying something from you, at some stage. This is more than getting your name out, it is getting your name out attached to something, some form of value or benefit that people want to possess.
Here are the top three marketing avenues available to you today.
1. Sponsored blog posts. Drawing on the trust of leading bloggers to reach their audience. These are great because bloggers will not risk their readership, or their credibility, by referring somebody who is not worth it. So the reviews are honest and allow you to be introduced to a large group of people by a trusted source.
2. Interviews and guest posts. The world is swimming with blogs, news sources and failing publications. In the increasingly commoditized world of news - scarce and stand out content is something to be fought over. You can make yourself this content for your markets. Another form of introduction to a large audience by a trusted source.
3. Permission based marketing avenues such as your own personal blog, your own personal email newsletters and your own channels on YouTube, or even Twitter. I think the most important element here is that the traffic you have, or the followers in the case of Twitter, need to be authentic . Not just the result of some following technique.
4. Referrals, but not as you have ever known them. Referrals are a different creature than they were even two short years ago. Today a Twitter Re-Tweet, if done by the right people, can have far more effect than a month of display ads on Adwords. Your LinkedIn recommendations, if collected from the right people, are a permanent and public trust based asset for you. A record of trust by those others may trust.
The world is changing. You can push against it and continue to employ old world gimmicks like TV spots, SEO advertising and spam-type marketing. Or you can start to really try to leverage the trust that exists out there.
Amway, as I have noted may times on this blog, is built on trust. A network of sales reps all over the world selling to their family, friends, and extended circles of friends.
Amway turned over 7 billion last year. Thats a lot of trust...
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June 4, 2009
The value of display advertising (Yes, it is still valid!)
"The best run companies run SAP."
A brilliant strap line isn't it? Possibly up there with "Just Do It", "Where's the Beef?" and "Got Milk?"
If you are part of a specific industry type then you will have heard this phrase. If you are a business traveler and it is familiar to you thats because it is posted up in every major airport in the world.
SAP, for those who don't know, is a gigantic Enterprise Resource Planning tool set, the world leader in fact. All the projects of theirs that I have ever come across have a price tag in excess of $10 million.
Yet I am sure that nobody ever sees one of their billboards and calls them saying "Send me one of those SAP things, we'll do the Purchase Order tomorrow".
So why do they advertise like this? Why do they spend millions of dollars every year posting their sizable billboards in expensive advertising space in major airports around the globe? Isn't the goal of advertising to make the phone ring?
Well... no ... it isn't alway about that at all.
Sometimes it is about brand recognition. Would you buy a book from LuLu.com? What about Amazon? It makes a difference doesn't it...
The goal of a lot of what is left of display advertising is more about being recognized for something. Not just getting the name out, but getting it out related to something. It is about creating awareness of your product, service line, special abilities and track record.
But most of all, it is about making the door slightly ajar when you do call on that client... display advertising is an essential element of our industry, our economies, and of getting a relationship initiated.
It makes the trust based stuff a lot easier once you have been introduced.
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A brilliant strap line isn't it? Possibly up there with "Just Do It", "Where's the Beef?" and "Got Milk?"
If you are part of a specific industry type then you will have heard this phrase. If you are a business traveler and it is familiar to you thats because it is posted up in every major airport in the world.
SAP, for those who don't know, is a gigantic Enterprise Resource Planning tool set, the world leader in fact. All the projects of theirs that I have ever come across have a price tag in excess of $10 million.
Yet I am sure that nobody ever sees one of their billboards and calls them saying "Send me one of those SAP things, we'll do the Purchase Order tomorrow".
So why do they advertise like this? Why do they spend millions of dollars every year posting their sizable billboards in expensive advertising space in major airports around the globe? Isn't the goal of advertising to make the phone ring?
Well... no ... it isn't alway about that at all.
Sometimes it is about brand recognition. Would you buy a book from LuLu.com? What about Amazon? It makes a difference doesn't it...
The goal of a lot of what is left of display advertising is more about being recognized for something. Not just getting the name out, but getting it out related to something. It is about creating awareness of your product, service line, special abilities and track record.
But most of all, it is about making the door slightly ajar when you do call on that client... display advertising is an essential element of our industry, our economies, and of getting a relationship initiated.
It makes the trust based stuff a lot easier once you have been introduced.
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June 1, 2009
"No" is not an option (or never let them say "No")
When you are running a seminar do not have somebody go around and ask everyone if there is something that you could be doing better, or if there is something missing. You think you are providing good customer focus, but what you are really doing is getting people to think negative thoughts about the seminar.
Your questions need to set up a dynamic where they have a choice of options that are favorable to the outcome you want.
"When should we meet next?" is better than "Do you want to meet again?"
"Whats the best way for us to proceed?" is better than "Should we proceed?"
And always make your intentions clear. You are looking for the opportunity to find a proving ground. A piece of work where you can prove your worth to them. Your goal, stated, is that you want to be working with them in ten years time. (Not just for ten months)
One way to help them to say yes is through options. For example:
Option 1. Your preferred route
Option 2. A choice that would be okay, but not your preferred option
Option 3. A long shot. The one they can rule out automatically and work their way closer to your preferred options.
Your questions need to provoke thought on outcomes that are desirable to you. Not dead ends. You want them to decide on something that continues the relationship, continues with the meetings and prospecting, or continues the engagements you have with them - not something that is going to cut everything off.
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Tuning into your clients - one of the keys to sales success!
Sales is one of those areas that is shrouded by myth and legend. Stories abound of phenomenal sales people through the ages, and writers all over the globe try to distill their lessons into something that can be duplicated by people such as you or I.For me, one of the areas that always gets overlooked is the ability to tune into the client.
I don't mean defining the needs or the wants, and I don't mean developing a strong trust based relationship - I mean something a little deeper and a bit more psychological than that.
Tuning in means understanding not only what the client wants but also why they want it.
For example, today I visited a client who are reputed to be leaders in their field. My own research as borne out by our conversations in proving this to me.
They are organized, they are leading the field in many areas, and they are confident in their leadership.
What does that mean to me? it means they do not want to be led, they want to be supported. I am sure there are things I could show them, and I am also sure there are things that (over time) they may ask me to provide thought leadership on - but right now they just want to be supported in what they are doing.
Others know they are laggards and are desperate to find quality thought leadership that can get them where they need to go. Yet others are in need of help in a way that prevents them from losing face in front of their industry peers. (Yes, it gets to be that basic sometimes)
Tuning into the client is part research and part profiling. Are they cost effective and profitable? Are they recognized as leaders? What are they saying to you?
Clients who talk to you about benchmarking opportunities are generally looking to fill some sort of void they have identified in their business model. If they speak about templates and rapid implementation models want to cover ground very quickly.
If they are confident in what they are doing, they may be after a supporting service - or they may actually be projecting a brave front to try to hide deeper issues.
I worked with a guy in the UK who moved like a hurricane. he took decisions at the speed of thought and moved masses of people around the company getting things done. His motivators - getting results. How did I get on his good side? I gave him results. Period.
Being able to read people is a key skill for consultants and sales people. But tuning into them goes far beyond sizing people up, it means understanding their fundamental motivators and using these to anticipate the type of service you can assist them with.
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May 23, 2009
The Error of Permission Based Marketing (And do-it-yourself branding)
As we all look to new media and new forms of marketing there have been some unacceptable casualties on the way. Marketing now has a distinctly do-it-yourself feel to it, and with the technology available today there is little wonder.
Unfortunately most of todays marketers have not had the old Jedi like training that yesterdays Ad-guys had. And I think we are a little worse off for it.
Things like how to generate headlines that really work, the structure of advertising copy, how to write a press releases that captures and holds people attention, and how to pitch ideas to make them interesting and even viral.
This is why we see so many plain Adwords ads, so many very boring email newsletters, exceptionally boring podcasts, and spammed conversations and emails with outdated titles like "FREE FREE FREE".
I am a big supporter of permission based marketing, and I have taken it further with the trust based concept I think. But it is nothing without the fundamental skills to back it up. Call it business development skills if you like...
I would strongly advise you to check out books like "The Wizard of Ads" and other old school advertising type books.
I am not proposing regressing to interruption marketing - but there were some great skills that came out of that era. It would be a shame to throw the baby out with the bathwater.
Unfortunately most of todays marketers have not had the old Jedi like training that yesterdays Ad-guys had. And I think we are a little worse off for it.
Things like how to generate headlines that really work, the structure of advertising copy, how to write a press releases that captures and holds people attention, and how to pitch ideas to make them interesting and even viral.
This is why we see so many plain Adwords ads, so many very boring email newsletters, exceptionally boring podcasts, and spammed conversations and emails with outdated titles like "FREE FREE FREE".
I am a big supporter of permission based marketing, and I have taken it further with the trust based concept I think. But it is nothing without the fundamental skills to back it up. Call it business development skills if you like...
I would strongly advise you to check out books like "The Wizard of Ads" and other old school advertising type books.
I am not proposing regressing to interruption marketing - but there were some great skills that came out of that era. It would be a shame to throw the baby out with the bathwater.
May 19, 2009
4 quick tips to increase your sales hit ratios
Some quick tips to raise your hit ratio.
Call early and often. Get your first calls out of the way before 9am and try to get a few in before 9:30. Do this daily and your hit ration will improve. Why? because some action is better than no action and it gets you in the mood for the day.
Win, lose or draw never lose contact. The professional relationship should exist with or without a commercial agreement in place. So obvious yet so often overlooked as people skulk off to lick their wounds.
Call to say "Hi", call to tell them about a report you are going to send them, call to see whats going on in their industry - just call.
Smile when you talk, especially on the phone. I have absolutely no idea if others can sense it or not, but if you smile then I can guarantee you that you'll feel it, and it raises your entire optimism levels.
Don't do the "I'm just calling to see if you need any information" call. Ever. it is just pathetic. if they haven't called there are two possible reasons, 1) They don't want to take it any further for some reason, or 2) They simply haven't had time to review it.
Instead call to tell them it has been a week, you're keen to know what is going on with the proposal, do they have any updates on progress?
Call early and often. Get your first calls out of the way before 9am and try to get a few in before 9:30. Do this daily and your hit ration will improve. Why? because some action is better than no action and it gets you in the mood for the day.
Win, lose or draw never lose contact. The professional relationship should exist with or without a commercial agreement in place. So obvious yet so often overlooked as people skulk off to lick their wounds.
Call to say "Hi", call to tell them about a report you are going to send them, call to see whats going on in their industry - just call.
Smile when you talk, especially on the phone. I have absolutely no idea if others can sense it or not, but if you smile then I can guarantee you that you'll feel it, and it raises your entire optimism levels.
Don't do the "I'm just calling to see if you need any information" call. Ever. it is just pathetic. if they haven't called there are two possible reasons, 1) They don't want to take it any further for some reason, or 2) They simply haven't had time to review it.
Instead call to tell them it has been a week, you're keen to know what is going on with the proposal, do they have any updates on progress?
May 16, 2009
The Number 1 Reason for Cold Call Success
I remember when I was just starting to get into sales that I read a heck of a lot about my "unique value proposition". Something that would wow every client and something I had to get out there within the first 30 seconds of every cold call.
What garbage!
First of all there is very little that is really new under the sun. Everything has been done, and there are others who can do what you do. They may do it differently, with a slightly different slant, but overall it is nearly impossible to be truly unique.
So thats out.
Second of all, you do not have one value proposition you have many. It really depends who you are talking to, who you represent, and what you are selling.
Sometimes I am the local vendor
Other times I am representing a company that is 4,000 strong in Australia and 40,000 strong globally.
Yet other times I am representing an organization that is so flexible it can turn on a dime.
Or I am representing a company with unparalleled technology for this specific application.
If the person you have called on a cold call is willing to give you a fair hearing, then the number 1 reason for your success or failure will be determined by how well you can tune into their immediate thinking, and how well you can second guess who they want to do business with and what they might see as valuable in a partner.
Homework helps, experience helps more, but the key super-power you are going to need in this area is that of perception and understanding the market, because you probably won't have the time to establish a link and glean their requirements from early conversations.
Don't ask leading questions. Don't immediately jab out with crazy value promises. And do not, under any circumstances, start asking questions first.
Hi, I'm (Insert your name) I am the (insert your title) I would like the opportunity to introduce my company to you if thats not inappropriate". Stop, wait... they say okay, then state your case.
You win, you get a meeting, you lose, you get to try again with a different prospect. Great fun stuff...
Related Posts
5 Tips for Cold Calls
Turn your LinkedIn account into a powerful revenue generating tool
What garbage!
First of all there is very little that is really new under the sun. Everything has been done, and there are others who can do what you do. They may do it differently, with a slightly different slant, but overall it is nearly impossible to be truly unique.
So thats out.
Second of all, you do not have one value proposition you have many. It really depends who you are talking to, who you represent, and what you are selling.
Sometimes I am the local vendor
Other times I am representing a company that is 4,000 strong in Australia and 40,000 strong globally.
Yet other times I am representing an organization that is so flexible it can turn on a dime.
Or I am representing a company with unparalleled technology for this specific application.
If the person you have called on a cold call is willing to give you a fair hearing, then the number 1 reason for your success or failure will be determined by how well you can tune into their immediate thinking, and how well you can second guess who they want to do business with and what they might see as valuable in a partner.
Homework helps, experience helps more, but the key super-power you are going to need in this area is that of perception and understanding the market, because you probably won't have the time to establish a link and glean their requirements from early conversations.
Don't ask leading questions. Don't immediately jab out with crazy value promises. And do not, under any circumstances, start asking questions first.
Hi, I'm (Insert your name) I am the (insert your title) I would like the opportunity to introduce my company to you if thats not inappropriate". Stop, wait... they say okay, then state your case.
You win, you get a meeting, you lose, you get to try again with a different prospect. Great fun stuff...
Related Posts
5 Tips for Cold Calls
Turn your LinkedIn account into a powerful revenue generating tool
Selling to different roles requires different words
Win ratios start to pick up almost immediately once sales professionals and marketers realize that succesful sales is not about a script - rather it is about adapting to the person you are talking to.
Here's something I have learned from the field of engineering and asset intensive industries. I am sure it applies roughly to each one of the industries out there. I have tried to identify the language, concerns and areas of interest that I have found relating to each level.
Interestingly they are all similar, but they are represented with different word sets.
(Note: This is talking about people like the EVP of Exxon, not of Joe's Pizza Barn.)
Its broken down into the levels that I generally get to speak to, feel free to add you own comments and concepts.
1) CEO / EVP / Board Members
Interests (if they are worth their paychecks): Earnings per share growth, return on invested capital, book value growth, cash flow and market share. (As a driver for all of the others)
Some of you will note that issues related to safety and environmental integrity of operations are not there. My experience, sad but true, is that these issues normally do not rise to this level until something dramatic has gone wrong. A very reactive approach to managing these areas.
To be fair, it is also true that normally there are people assigned to manage these areas on their behalf. Whole programs normally.
Decision Criteria: If we want it, we'll buy it.
2) Directors, General Managers, Managing Directors:
Interests: Net Present Value/Costs, Cost effectiveness, Operational efficiency, LTIFR (Lost time Injury Frequency Rate), Whole-of-Life costs, sustaining market share, independence and robustness. (These levels are very focused on being able to act independently and removing dependence a lot of the time.
Decision Criteria: If it carries obvious and rapidly realizable value, then we will buy it.
3) Senior Line Managers
Interests: Whole of life costs, cost effectiveness, risk reduction, efficiency and productivity.
Decision Criteria: It has to be able to realize benefits within 6 months (say) before we can consider it.
Note: Managers are game changers in many organizations of this type. They have often large corporate structures under them and they are directly responsible for significant earnings and cost responsibilities.
But... from here down you start to get into the ego game. People are less likely to think about what is the best for the organization, and more likely to think about what will be best for them personally so they can climb the ladder.
They have many ways to say no, and often no way to say yes. They are always wondering "what can you do that we cannot do by ourselves?". They confuse capability and resource capacity, and they are keen to have it seen that they did the work.
The senior people are more than happy, on the other hand, to make it known that they identified the work - and got extremely capable people to do it for them.
I hope this is of some use. Feel free to add your advice if it adds to or is different to this...
May 14, 2009
5 ideas for cold calls
Cold calls in consulting work. There is absolutely no doubt in my mind about that. But you are not calling to make a sale, you are calling to start a relationship.
This goes to the heart of consulting and to how to sell consulting services.
Functionality hasn't sold too much since Microsoft was offering a "free calculator" with their windows product. SAP is arguably less functional than some of their competitors, yet they still dominate the market.
When IBM bought PWC one of the reasons for the (then) high price was their boardroom access.
So relationships sell, no doubt about it. And if you haven't realized that yet you are in the wrong game.
Cold calling is your way of getting the foot in the door - not to sell, but to try to create a relationship.
Some tips that I use.
1) Whenever possible call, don't email first. Emails that are unexpected can be ignored and deleted, calls at least are answered.
2) Be human, don't be "on the sell". Make it clear, you want the opportunity to introduce your company and products or services. Thats it. If it goes further you may have a chance to talk about some of the "wins" you have had elsewhere. But all you want initially is the chance to tell them who you are.
3) Your personal brand helps. If people already know about you, or already have an idea who you are and what you do then this makes life incredibly easier. They are more likely to want to speak with you and far more likely to give you a fair hearing.
4) Use LinkedIn. Undoubtedly a fantastic device for establishing first contact with economic decision makers. Make it clear you are not "on the sell", that you want the opportunity to introduce the company only, and you want to make sure that this approach is not inappropriate.
5) Toughen Up! Some people seem to get awfully annoyed that you call them. Some are rude, ingracious, disrespectful and aggresive without any real reason to be.
This goes to the heart of consulting and to how to sell consulting services.
Functionality hasn't sold too much since Microsoft was offering a "free calculator" with their windows product. SAP is arguably less functional than some of their competitors, yet they still dominate the market.
When IBM bought PWC one of the reasons for the (then) high price was their boardroom access.
So relationships sell, no doubt about it. And if you haven't realized that yet you are in the wrong game.
Cold calling is your way of getting the foot in the door - not to sell, but to try to create a relationship.
Some tips that I use.
1) Whenever possible call, don't email first. Emails that are unexpected can be ignored and deleted, calls at least are answered.
2) Be human, don't be "on the sell". Make it clear, you want the opportunity to introduce your company and products or services. Thats it. If it goes further you may have a chance to talk about some of the "wins" you have had elsewhere. But all you want initially is the chance to tell them who you are.
3) Your personal brand helps. If people already know about you, or already have an idea who you are and what you do then this makes life incredibly easier. They are more likely to want to speak with you and far more likely to give you a fair hearing.
4) Use LinkedIn. Undoubtedly a fantastic device for establishing first contact with economic decision makers. Make it clear you are not "on the sell", that you want the opportunity to introduce the company only, and you want to make sure that this approach is not inappropriate.
5) Toughen Up! Some people seem to get awfully annoyed that you call them. Some are rude, ingracious, disrespectful and aggresive without any real reason to be.
Don't sweat it. They just aren't ready for you yet. They are dealing with the small power world of their operational environment while you are striding the national or international stage... their loss.
May 2, 2009
HEY FELLA!!
Hey, you - buy this, read this, its relevant to the message - HEY FELLA!!
If you were standing next to someone and did that they would turn away, move away or possibly even get aggressive. Yet there are thousands of people floating around online who seem to think that it is not only OK to do this, but that it is actually a good long term strategy.
Every now and then someone will join the group on LinkedIn that I run and almost immediately they are at it with some way of promoting their products, services, knowledge, newsletter and so on.
Or someone will post to the blog, not even reference the issues that I posted on, and tout their newsletter, website or
It really annoys me... really!!
"Accept all invites..." - because thats what I'm really here for, not to interact with you and form a commercial relationship. No way! Just to get to more people through you.
"Join our new group on..." - because this group of nearly 3,000 people is just not good enough!
"Buy my stuff...", "Send me an email...", "Read my newsletter...", "read my blog..." HEY FELLA!!
Whats the underlying message here? "I'm not here for you, or anybody else. I have no intention of contributing value here. What I am really here for is me! My prosperity, my profits, my success... and I want to do it very quickly through you and your contacts!"
Trust is what drives sustainable success. trust in a persons character and abilities...and this is no way to begin a trust based relationship. At all, ever.
If you want to get someones trust then try interacting with them instead of interrupting them. try developing a line of communication with them before trying to sell them on anything at all. And try to be sincere and authentic.
Nobody cares about you, everyone cares about "me". And if you don't care about "me" then I could not care less about you...
The more you shout at people the more they look away or walk away. One of the things that Google was very good at doing in the early days was getting around web page spam.
One of the things that LinkedIn has become very good at is getting around anonymous spam.
Why are these things important? people want them of course...
So keep going, keep interrupting, and keep pushing you over them. Sustainable business success isn't for everyone...
If you were standing next to someone and did that they would turn away, move away or possibly even get aggressive. Yet there are thousands of people floating around online who seem to think that it is not only OK to do this, but that it is actually a good long term strategy.
Every now and then someone will join the group on LinkedIn that I run and almost immediately they are at it with some way of promoting their products, services, knowledge, newsletter and so on.
Or someone will post to the blog, not even reference the issues that I posted on, and tout their newsletter, website or
It really annoys me... really!!
"Accept all invites..." - because thats what I'm really here for, not to interact with you and form a commercial relationship. No way! Just to get to more people through you.
"Join our new group on..." - because this group of nearly 3,000 people is just not good enough!
"Buy my stuff...", "Send me an email...", "Read my newsletter...", "read my blog..." HEY FELLA!!
Whats the underlying message here? "I'm not here for you, or anybody else. I have no intention of contributing value here. What I am really here for is me! My prosperity, my profits, my success... and I want to do it very quickly through you and your contacts!"
Trust is what drives sustainable success. trust in a persons character and abilities...and this is no way to begin a trust based relationship. At all, ever.
If you want to get someones trust then try interacting with them instead of interrupting them. try developing a line of communication with them before trying to sell them on anything at all. And try to be sincere and authentic.
Nobody cares about you, everyone cares about "me". And if you don't care about "me" then I could not care less about you...
The more you shout at people the more they look away or walk away. One of the things that Google was very good at doing in the early days was getting around web page spam.
One of the things that LinkedIn has become very good at is getting around anonymous spam.
Why are these things important? people want them of course...
So keep going, keep interrupting, and keep pushing you over them. Sustainable business success isn't for everyone...
April 29, 2009
No way is the customer always right...
When you work in consulting the client is not always right! In fact, quite often they are dead wrong.
And this is the value of being in consulting. They are speaking to you because they are hoping that you have differing experiences, skills, understandings or perspectives that you can ring to the table to help them with their problem.
Generally they don't just want a nodding head . If they did they would open the door and invite in one of the people who work for them.
Telling a client that he is wrong shows a strong and resilient relationship, demonstrates your value and what you bring to the table, and if it is done correctly, it can place you safely in a position of trusted advisor .
A very powerful commercial position to be in...
And this is the value of being in consulting. They are speaking to you because they are hoping that you have differing experiences, skills, understandings or perspectives that you can ring to the table to help them with their problem.
Generally they don't just want a nodding head . If they did they would open the door and invite in one of the people who work for them.
Telling a client that he is wrong shows a strong and resilient relationship, demonstrates your value and what you bring to the table, and if it is done correctly, it can place you safely in a position of trusted advisor .
A very powerful commercial position to be in...
January 17, 2009
Being the news - The Art of the Press Release
When you are the news and not the ads you have a direct line of communication with your prospective buyers. One way of doing this is through well thought out and written Press Releases.
Unfortunately, the subtle art of writing a press release is greatly underrated.
Press releases are like resumes. You rarely get any real benefit from just sending them out with the expectation that the offers, calls or whatever will come flooding back to you.
There are just far too many out there in the marketplace. Check any of the release sites and you will find a daily mountain of press releases; all vying for the limited attention spans of newspaper and online media editors.
The best use of them I am aware of is as a follow up to media contact. When you are pitching for an interview, an article spot or as an expert. A tool to support what you are pitching, to showcase your expertise, and hopefully to talk about one of your success stories who is lining up to tell others how great you are.
Press releases require captivating headlines, a compelling initial paragraph, a flowing and interesting storyline, and a call to action - no matter how subtle. Once they are picked up then they can become the source of another press release on top of that.
There are a lot of sites that will distribute your press release, but only a few that will actually help you to craft it for best circulation possibilities. One I stumbled across recently is PressReleaseSolutions.com , a site I aim to test run in the next couple of weeks.
The more you aim to be the news, rather than the ads, the more likely you are to get the attention of your intended audience. And the more collateral you have out there in the reputation sphere, the more likely you are to be on the tip of their minds.
Unfortunately, the subtle art of writing a press release is greatly underrated.
Press releases are like resumes. You rarely get any real benefit from just sending them out with the expectation that the offers, calls or whatever will come flooding back to you.
There are just far too many out there in the marketplace. Check any of the release sites and you will find a daily mountain of press releases; all vying for the limited attention spans of newspaper and online media editors.
The best use of them I am aware of is as a follow up to media contact. When you are pitching for an interview, an article spot or as an expert. A tool to support what you are pitching, to showcase your expertise, and hopefully to talk about one of your success stories who is lining up to tell others how great you are.
Press releases require captivating headlines, a compelling initial paragraph, a flowing and interesting storyline, and a call to action - no matter how subtle. Once they are picked up then they can become the source of another press release on top of that.
There are a lot of sites that will distribute your press release, but only a few that will actually help you to craft it for best circulation possibilities. One I stumbled across recently is PressReleaseSolutions.com , a site I aim to test run in the next couple of weeks.
The more you aim to be the news, rather than the ads, the more likely you are to get the attention of your intended audience. And the more collateral you have out there in the reputation sphere, the more likely you are to be on the tip of their minds.
January 8, 2009
The war on advertising
If you spend too much time around twitter and the web 2.0 blogs you can easily fall prey to the belief that display advertising is the biggest waste of cash for any marketer or advertiser.
A chorus of bloggers and authors all hailing th death of advertising and the rise of relationship marketing and it's many variants. Don't get me wrong, I agree with a lot of the points they make, but as bloggers and web 2.0 mavens it is pretty incestuous you have to admit.
Interruption marketing used to be the only way to reach people, the only mediums were magazines, newspapers TV and the radio. Today, there are many, many more. From podcasts, to blogs, to Adwords, to e-newsletters; the number of mediums that can be used has multiplied.
And there is a rise in relationship style marketing. I have written about what I called Trust Based Marketing here before, and I also posted on my own experiences with permission marketing.
But the rise of new forms of marketing doesn't mean the death of the old forms. They are still around, and they are still effective. They are just transforming.
Modern display advertising used to be useful for initiating a sale. Today, it is for initiating a relationship. Even Godin, in his book permission Marketing, recognizes the need for a form of interruption (read display) marketing.
Initiating the relationship, getting your permission to start a conversation, enabling the vendor to begin to win your trust. However you look at it the need still remains to get peoples' attention in the first place.
Getting their attention, building or supporting a brand image and making sure that your products are on the tip of their minds when they are considering your areas.
My wife and I are in the process of creating a company here. The focus will be on trying to gauge the impact and usefulness of local display advertising. it is not a full time business, more of a past time right now.
I will let you know what I learn.
What I believe is that display advertising, when delivered in the right medium and local, is the most powerful way to initiate a relationship for small businesses such as consultants.
A chorus of bloggers and authors all hailing th death of advertising and the rise of relationship marketing and it's many variants. Don't get me wrong, I agree with a lot of the points they make, but as bloggers and web 2.0 mavens it is pretty incestuous you have to admit.
Interruption marketing used to be the only way to reach people, the only mediums were magazines, newspapers TV and the radio. Today, there are many, many more. From podcasts, to blogs, to Adwords, to e-newsletters; the number of mediums that can be used has multiplied.
And there is a rise in relationship style marketing. I have written about what I called Trust Based Marketing here before, and I also posted on my own experiences with permission marketing.
But the rise of new forms of marketing doesn't mean the death of the old forms. They are still around, and they are still effective. They are just transforming.
Right now I am in a new place. I have no idea who does what and I have been responding to TV ads, yellow pages listings, newspaper ads and even billboards to try to get an idea of who does what around here.
It has been a great wake up call for me. I still try to tap into referrals wherever I can do, particularly where schools are concerned, but in general - display advertising is getting my attention.
Modern display advertising used to be useful for initiating a sale. Today, it is for initiating a relationship. Even Godin, in his book permission Marketing, recognizes the need for a form of interruption (read display) marketing.
Initiating the relationship, getting your permission to start a conversation, enabling the vendor to begin to win your trust. However you look at it the need still remains to get peoples' attention in the first place.
Getting their attention, building or supporting a brand image and making sure that your products are on the tip of their minds when they are considering your areas.
My wife and I are in the process of creating a company here. The focus will be on trying to gauge the impact and usefulness of local display advertising. it is not a full time business, more of a past time right now.
I will let you know what I learn.
What I believe is that display advertising, when delivered in the right medium and local, is the most powerful way to initiate a relationship for small businesses such as consultants.
January 5, 2009
Not at any cost...
Sometimes you cannot avoid being classified as a commodity. You have built up your value approach, you have developed results producing IP, and you are able to differentiate yourself with others through your track record of astounding achievements.
But the client insists on subjecting you to auctions, demanding you cut price, and giving you a "my way or the highway"approach to terms and conditions.
Some negotiation is inevitable, some flexibility is wise and very practical. But you simply cannot take work at any price.
Once they have knocked you down on price, they become convinced that they got the better deal, and that you were holding out on them. If they hire you through these online auctions such as elance.com and rentacoder.com then you are price based rather than value based.
And if they force unworkable terms and conditions on you then you will not be able to make them work. (Strange that)
Get out. Walk away. Turn to the next option and stop wasting your time, effort and aspirational power with these types of clients. There are planty (PLENTY) of other fish in the sea, and it is their loss not yours.
The problem with competing on price is that you could win... and we all know just how much that hurts.
But the client insists on subjecting you to auctions, demanding you cut price, and giving you a "my way or the highway"approach to terms and conditions.
Some negotiation is inevitable, some flexibility is wise and very practical. But you simply cannot take work at any price.
Once they have knocked you down on price, they become convinced that they got the better deal, and that you were holding out on them. If they hire you through these online auctions such as elance.com and rentacoder.com then you are price based rather than value based.
And if they force unworkable terms and conditions on you then you will not be able to make them work. (Strange that)
Get out. Walk away. Turn to the next option and stop wasting your time, effort and aspirational power with these types of clients. There are planty (PLENTY) of other fish in the sea, and it is their loss not yours.
The problem with competing on price is that you could win... and we all know just how much that hurts.
December 26, 2008
Elitist social media and the value of display advertising
I recently read a post on Chris Brogans blog that really riled me. Not the tone, he seems to be genuinely a nice guy and always goes out of his way to be decent, but the topic and the attitude displayed really bugged me.
After recalling all the ads and banners he saw in one of the terminals at JFK, he then went on to argue about the stupidity of this form of advertising. (After remembering all of them mind you)
This is not an uncommon theme among the Social Mediarati. (Particularly those who earn a living from espousing the benefits of SM) They regularly slam all forms of off line marketing as ineffectual, out dated and a generally a waste of money.
It is an elitist attitude and it is dead wrong! This whole social media blogging thing is fast becoming a cabal of people having a discussion amongst themselves while others cheer them on.
His points were two fold, first the question/statement "does it convert?" and his second question/statement "Is this just about volume?"
Do you travel much? If you do then you have probably seen the billboard type ads for SAP. Normally they highlight a world leading organization, one that is generally held in high esteem, with the words "The Best Run Companies Run SAP".
Does it convert?
A brilliant strap line isn't it? Want to be one of the best? Well look at what they are doing. But strap line aside; does anybody really think that the goal of that billboard is to get one of the senior execs traveling through the airport to say "Darn it, I need to spend $50 million on SAP, Get me a telephone!"
Of course not, an absurd concept and naive in the extreme. It's not always about making the telephone ring.
Often, it is about embedding a perception of the company, one that buoys its performance in the marketplace and helps it to have a receptive audience when it finally meets them. Just like the newsletters Chris sends out, or the newsletters I send out. it is a longer term game.
Not everyone is online, most senior execs don't read many blogs, if any, and they have no time for establishing a conversation with you, sorry. They are busy changing the world.
Thats not to say the "lets have a chat" approach doesn't work with big deals.. McKinsey and IBM are having a decent try at it. It's all very clumsy and stiff, but they are trying. I am sure it generates at least some leads for them to follow up on. (Just try to unsubscribe from the McKinsey newsletters...I dare you!)
Or in the case of McKinsey, perhaps it just reinforces the perception they want to create - that of a thought leader. One who you will receive willingly when they come calling, or the one you are going to turn to if it all goes bad in a hurry.
Just one example, there are many others. The key point is that not all marketing is designed to get the telephone to ring immediately. Some of it is a longer game that is all about perceptions in the marketplace and the reinforcing of positive images.
Here's an example of off line display advertising done very well. Gordon Ramsay is famous for his serious Hell's Kitchen. I used to watch him on another series where he would meet a restaurant in trouble, and then work through a series of tailor made steps to get them profitable as quickly as possible.
Much to my surprise I found him to be an absolutely excellent consultant!!
One of the things I saw him do regularly was to put placards at strategic points telling people how to get to the restaurant he was working on. The footfall increase was generally very impressive.
Off line display advertising, of all sorts and forms, does work. It does yield impressive results, and it is often about a longer game than the social media newsletter / blog approaches.
I'm not saying that Godin's TV Industrial Complex is alive and well. I understand his point and I am sure he sleeps well at night knowing I agree with him. (That's sarcasm by the way) Just don't try to hook everything that is off line into the "interruption marketing" basket. I don't see it as correct.
Is it all about volume?
No. Not at all. I am sure that for some it is, and so be it, but for others it definitely is not.
If you have been through the airports where these billboards are, and you don't recall them. Then it is a fair bet that they were not talking to you. I see them because I am in the game, I am sensitive to what is happening and (I have to admit) the SAP strap line really does get me. I wish I had thought of it.
it's about touching a chord in the heart of the very few people who count for them. Maybe creating a doubt, or reinforcing a recent decision, or influencing a decision that is coming up in the next few months. It's not for you, and it's probably not for Chris.
I recall hearing about an event when SAP announced its annual conference in Spain, and Oracle immediately swooped on all the advertising in the airport that their clients would be arriving through. Did they make any sales out of that? No idea, I don't even know if its true.
But it really sent a message if it is, and I'm sure it unsettled more than one of the people in attendance, and may even yield dividends down the road.
When it is deployed effectively, off line advertising does have it's place. It is less likely to generate instant sales, or sales over the short term, but it is all part of a long term perception game.
Pump manufacturers, nail gun makers, grease and lubricant suppliers, all have to be noticed too. There are avenues online, but they also have many avenues off line.
After recalling all the ads and banners he saw in one of the terminals at JFK, he then went on to argue about the stupidity of this form of advertising. (After remembering all of them mind you)
This is not an uncommon theme among the Social Mediarati. (Particularly those who earn a living from espousing the benefits of SM) They regularly slam all forms of off line marketing as ineffectual, out dated and a generally a waste of money.
It is an elitist attitude and it is dead wrong! This whole social media blogging thing is fast becoming a cabal of people having a discussion amongst themselves while others cheer them on.
His points were two fold, first the question/statement "does it convert?" and his second question/statement "Is this just about volume?"
Do you travel much? If you do then you have probably seen the billboard type ads for SAP. Normally they highlight a world leading organization, one that is generally held in high esteem, with the words "The Best Run Companies Run SAP".
Does it convert?
A brilliant strap line isn't it? Want to be one of the best? Well look at what they are doing. But strap line aside; does anybody really think that the goal of that billboard is to get one of the senior execs traveling through the airport to say "Darn it, I need to spend $50 million on SAP, Get me a telephone!"
Of course not, an absurd concept and naive in the extreme. It's not always about making the telephone ring.
Often, it is about embedding a perception of the company, one that buoys its performance in the marketplace and helps it to have a receptive audience when it finally meets them. Just like the newsletters Chris sends out, or the newsletters I send out. it is a longer term game.
Not everyone is online, most senior execs don't read many blogs, if any, and they have no time for establishing a conversation with you, sorry. They are busy changing the world.
Thats not to say the "lets have a chat" approach doesn't work with big deals.. McKinsey and IBM are having a decent try at it. It's all very clumsy and stiff, but they are trying. I am sure it generates at least some leads for them to follow up on. (Just try to unsubscribe from the McKinsey newsletters...I dare you!)
Or in the case of McKinsey, perhaps it just reinforces the perception they want to create - that of a thought leader. One who you will receive willingly when they come calling, or the one you are going to turn to if it all goes bad in a hurry.
Just one example, there are many others. The key point is that not all marketing is designed to get the telephone to ring immediately. Some of it is a longer game that is all about perceptions in the marketplace and the reinforcing of positive images.
Here's an example of off line display advertising done very well. Gordon Ramsay is famous for his serious Hell's Kitchen. I used to watch him on another series where he would meet a restaurant in trouble, and then work through a series of tailor made steps to get them profitable as quickly as possible.
Much to my surprise I found him to be an absolutely excellent consultant!!
One of the things I saw him do regularly was to put placards at strategic points telling people how to get to the restaurant he was working on. The footfall increase was generally very impressive.
Off line display advertising, of all sorts and forms, does work. It does yield impressive results, and it is often about a longer game than the social media newsletter / blog approaches.
I'm not saying that Godin's TV Industrial Complex is alive and well. I understand his point and I am sure he sleeps well at night knowing I agree with him. (That's sarcasm by the way) Just don't try to hook everything that is off line into the "interruption marketing" basket. I don't see it as correct.
Is it all about volume?
No. Not at all. I am sure that for some it is, and so be it, but for others it definitely is not.
If you have been through the airports where these billboards are, and you don't recall them. Then it is a fair bet that they were not talking to you. I see them because I am in the game, I am sensitive to what is happening and (I have to admit) the SAP strap line really does get me. I wish I had thought of it.
it's about touching a chord in the heart of the very few people who count for them. Maybe creating a doubt, or reinforcing a recent decision, or influencing a decision that is coming up in the next few months. It's not for you, and it's probably not for Chris.
I recall hearing about an event when SAP announced its annual conference in Spain, and Oracle immediately swooped on all the advertising in the airport that their clients would be arriving through. Did they make any sales out of that? No idea, I don't even know if its true.
But it really sent a message if it is, and I'm sure it unsettled more than one of the people in attendance, and may even yield dividends down the road.
When it is deployed effectively, off line advertising does have it's place. It is less likely to generate instant sales, or sales over the short term, but it is all part of a long term perception game.
Pump manufacturers, nail gun makers, grease and lubricant suppliers, all have to be noticed too. There are avenues online, but they also have many avenues off line.
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