- Category: Sales
It's a great time of year because through this research we are exposed to other companies successes and at times failures - all while thinking about what more we can do for our clients.
One of the big issues that small businesses face is their understanding of how sales and marketing works together. Quite often, small businesses invest in one and not so heavily in the other, only to find that their sales pipeline isn't full and budgets are not being met.
Without being critical of small business owners who have their fair share of things to worry about: think people, finance, hr, sales, marketing, product / service development - sales and marketing is something that every small business owner understands the importance of, but has trouble executing.
Re-thinking how your client makes decisions on whether or not to buy your product or service is imperative to understanding how to market to them and ultimately, how to get the sale. We know that the reason someone buys at all in a b2b environment is to either make money, save money or reduce pain and frustration.
There are many things to consider when doing research into why your client buys from you over a competitor and it is more than just reputation or the benefits that your product or service offers.
The reasons why small businesses buy are simple. (B2B)
Price: They usually have a budget, but don't know what it is exactly, and need you to sell to them value that is backed by a competitive price point.
Packaging: That means your website, your business card, how you present yourself, the experience they have at reception, your brochure and more.
Service: Do you make them feel special from the moment they click onto your website to the time that they come into your office and ask you the hairy questions? Do you make them feel special?
Payment: It's true. Most people make choices on their buying decisions based on what payment plans are on option.
Reputation or perceived reputation.
Then it gets down to what type of product or service you have on offer and whether or not it has perceived value, quality and use.
It's important for all businesses to ask their clients why they have bought from them and use this for both testimonials and for improving service and product delivery.
Yesterday, I went to a meeting in Melbourne where a company was looking for a marketing consultant for their burgeoning technology company. Ready to go to the next level, this company looked online to find a marketing consultant in Melbourne and they based their decision on who to meet by what they read on each website. They met with Marketing Eye and by our company's reputation in the market within their own client base and knowledge have firmly made their decision.
Reputation is either through referrral, or through a perception of what a reputation may be. That may mean the addition of testimonials on your website or it could mean that they actually know someone who has used your services or products.
Like most cities, Melbourne is a small city, so reputation is everything!