Marketing & Sales - Attn. Small Business Owners: You May Have an Ugly Baby
Posted by Teicko Huber on Fri, Jun 19, 2009 @ 10:32 AM
As a marketing strategy and sales execution consultant, I interact with many types of businesses in a wide array of markets. Much to the disbelief of many small businesses and business owners, they are always surprised when I am not amazed by the “awesomeness” of their product or service. The most popular defense to my lack of zeal is often “well, you really don’t get it, but you will.” As always, I smile courteously knowing that when working with our firm, they will soon come to realize the first step of 21st century marketing and sales execution requires you be able to admit you may have an ugly baby.
Far too many business owners and small businesses treat their venture as their child. They bring it into this world (or adopt an existing business), feed it, spend many sleepless nights worrying about it, and hope it grows up to be strong and independent someday.
What is dangerous about this attitude is too many business owners’ bias and paternal connection to their small business becomes so strong they can no longer look at it objectively, from the eyes of the consumer. Coincidentally, more than 50% of small companies miss their sales objectives and miss out on reaching their full potential.
So, how do you know if your paternal instinct is getting in the way of asking objective, market-based pricing, marketing and sales execution questions about your business?
- Your pricing strategy is founded primarily based upon your perceived value of your product versus a market-based argument for your product, and the strategy has not been revisited within the last 12 months.
- Sales demand is out of alignment with your relative supply (your business is not selling stuff).
- The value of your service is challenged and your first response is we don’t sell on price.
- It has been more than 120 days since you’ve solicited feedback from customers, employees, or trained sales and marketing professionals about the value of your product or service.
- It is difficult for you to make decisions that will require change from a sales and marketing perspective.
If you want to thrive in the 21st century it is critical to remember:
- Unique does not make you useful.
- Always test your marketing and sales approach from a customer centric perspective.
- Assume nothing and question everything about your marketing strategy.
- Those who lead read, make sure you are dialed into and have an understanding of your entire industry beyond your own business. Google Alerts is a great way of staying apprised of buzz in your market segment.
- Hire an outside advisor, not friends or family, to come in and provide. You might be surprised at how much value a sales and marketing consultant can provide in an hour.
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