The most important role of marketing and sales is to pay attention to the outcomes that prospective clients want. This is also the most neglected part of the marketing and sales role. Now, more than ever, marketing and salespeople must be listening and adapting.
Clay Christensen and Bob Moesta assert that customers don’t buy our products or services. Instead, they hire our products and services for a job to be done. In Revenue Growth Engine, I say that buyers don’t buy products, they buy the outcomes the products enable.
Great companies have an intimate understanding of the jobs that prospects are hiring products to do. The most effective marketing and sales focus on the outcomes, not the product. Outcomes are driven by business goals and the problems that keep clients from achieving them.
As the economy shifts, the problems our prospects encounter may shift. We may be selling the same product as we sold last year, but the reason prospects buy the...
Sales and marketing both have common objectives in the pursuit of revenue: creating competitive advantage and increasing perceived value. Without these, the company’s offerings slide into the slimy pit of commodities, decreasing win rates and profit margins.
How can you build competitive advantage and communicate value? In Revenue Growth Engine, I recommend that you think strategically about the experience you provide your ideal clients before and after they become clients.
In The Experience Economy, Competing For Customer Time, Attention, and Money, Pine and Gilmore recommend looking at your company as a stage and your team as actors. In this model, the script is your sales and marketing processes.
In show businesses, compelling scripts get turned into profitable movies and plays. Boring scripts get rejected.
What about your sales and marketing processes? Would the script you have written for prospects and clients capture the attention of your clients? Or, would the script...
Cross-selling to current clients to additional products and services may be the fastest way great companies can grow. According to Amy Gallo, a contributing editor at Harvard Business Review, acquiring a new customer is anywhere from five to twenty-five times more expensive than retaining an existing one!
The old saying is true: it takes more effort to get a new client than it takes to cross-sell a current client. Even better, happy clients create a basis for referrals, helping feed the net-new side of your growth engine. If you are providing great products with a responsive service delivered by caring people, why wouldn’t your clients want to buy more from your organization?
Unfortunately, most companies do not fully optimize their cross-selling opportunities and only drive net-new business. They don’t see that cross-selling to current clients creates low-hanging fruit. As I consult with companies, many begin to realize that if they simply focused on this half...
“What makes you different?” Every sales professional and marketer gets confronted with this question multiple times a day. The ability to answer this question well forms the difference between winning and losing, profitability and unprofitability.
Here’s the challenge: you’re not different. Is that a fair statement? Probably not. But in the eyes of your prospects and clients, unless you take intentional action to create differentiation, you are not different.
Without differentiation, the best case scenario is that you win on price. The worst case scenario is the you lose to a competitor that creates differentiation. Even worse, what if you are losing to a competitor that creates differentation and charges more! Talk about salt in a wound.
How can you create differentiation? Let's consider three options that don't work for most companies.
Many companies I serve sell products that they don’t manufacture. From a product...
If you want to grow net-new business, your Revenue Growth Engine needs to be fine-tuned to attract and create new clients. To do this, you need to consider the two types of prospects: buyers who are actively looking and people who are not.
Buyers who are actively looking have felt needs. They have a problem that needs to be solved. You need to make sure that when they look for a solution that they find your company online. Once they find your company, you need to be able to convert that visitor to a sales opportunity. We’ll explore this in the chapter on inbound marketing.
For every buyer that is actively looking for what you sell, there are many who are not actively looking. It doesn’t mean that they couldn’t benefit from the outcomes your products and services deliver. In fact, many of these companies have latent needs, problems that lie below the surface that if solved, would make their lives a lot better. To grow revenue with these buyers you need salespeople...