How CEOs Can Drop The Ball With Marketing

Marketing Forum

 #31
AZBroker

Quote:
Originally Posted by Bald Dog
But they do by trying to acieve certain ends using the wrong means.
By whose standards and who are they to say?

Quote:
Originally Posted by Bald Dog
I've read somewhere that marketing is bringing people to the door, and sales is bringing people through the door.

So, marketing is really to communicate with people and discover wheteher or not they want to come to the door.

Thoughts?
I've read somewhere that marketing is...
  • identifying and fulfilling the needs of their customers
  • providing value to their customers
  • pricing, promotion and distribution
... among other things. Would you agree?

 #32
Bald Dog

Quote:
Originally Posted by AZBroker
By whose standards and who are they to say?
Oh, nothing major. They are just my fiendish standards.

I have some joint ventures running with some organic farmers. From a former life I am butcher (among others) and when the animals are ready, I knock them in the head and we ship them to the US as super- expensive deli meat.

It's not too hard to imagine that where there is blood and raw meat, there are flies. Not the tiny flies, but the big horse flies and bluebottles.

Of course I want these flies out of the way, so they can't wreak havoc with the meat.

At this point we have two distinct options:

1. Chasing the flies with a rolled-up newspaper and flattening them one-by-one. It's doable but it takes too much time and energy, and the number of flies I can kill is very very limited.

2. Creating a "honey pot". This is a jar halfway filled with sugared water. We all now that flies love sweet stuff. Then I spread honey on the inner side of the lid and screw it on the jar. Then, with the knife sharpening steel, I punch a small hole on the lid. The hole is just big enough so the biggest flies can squeeze through and get to their oh-so-much-longed-for sugar. Then I put out the jar in the working area, and get on with my work.

The interesting thing is that all the flies disappear. They all go to the jar. They are not interested in the "competition" (blood, meat or even the people) any more. They are only interested my unique offer, the sugar-water in the jar. And of course after tasting my offer, they can't get away, and they all die in the jar.

What is the lesson here? We created the "honey pot" and the prospects (flies in this case) came to us without chasing them.

And now you may say, you can outrun prospects and catch them. Well, not really. All right. Maybe sometimes. There is a reason for this...

A Zen master and his student were in the forest when they saw a fox that was chasing a rabbit.

Zen Master asked his student: "Who do you think will win?"

"The fox of course. It's bigger, stronger and faster." - the student said.

Then the Zen Master told the student the rabbit would win.

"But why, Master" - the student asked.

The master's response was simple: "You see, the fox is running for a meal. The rabbit is running for his LIFE!

You can chase your next fee, commission, sale, that is, your next meal per se, but your prospects are running for their lives. You can never catch them. Or in the best case you catch a few of them for one-off sales. Then the word starts spreading and everyone will hide from you. Soon people will place guards and “No Solicitors” signs on their premises.

Back to the flies. Now I don't say that we want to kill your prospects, and if they want to leave us, they are free to do so, but attracting them can follow the same logic. Well, I don't mean you collect prospects in a jar of sugared water. You can replace the jar with a free report, a free audio download or whatever you see best for your specific target market.

Yes, it takes some time, money and effort to build a prospecting "honey pot" and concoct the right bait for your ideal clients, but once you do it, you can have your ideal prospects come to you seeking your expertise. Imagine. No more chasing. No more convincing. No more overcoming objections. No more price pressure and demands for discounts. And no more begging for business.

Quote:
Originally Posted by AZBroker
I've read somewhere that marketing is...

  • identifying and fulfilling the needs of their customers
  • providing value to their customers
  • pricing, promotion and distribution
... among other things. Would you agree?
I agree. That's why I find it hard to separate marketing and sales. That's why I prefer to talk about a seamlessly integrated business development department.

What do you think about this oddball perspective from the Buthcer of Langley?

__________________
Raise your sight! Blaze new trails! Compete with the immortals!
Tom “Bald Dog” Varjan
Request your free copy of "B2B Online Business Development Insider For Wise Buyers" at
http://www.varjan.com
 #33
AZBroker

Quote:
Originally Posted by Bald Dog
What do you think about this oddball perspective from the Buthcer of Langley?
I don't view "prospects coming to us vs. us chasing them" as an oddball perspective.

 #34
Houston

Quote:
Originally Posted by Bald Dog
Jacques’ High Probability Selling has been a good teacher for me. Thanks a lot, Jacques!
Do you think high probability prospecting is chasing leads?

 #35
Mikey

Bald Dog, here is a thread about sales vs. marketing skills - Skills: Sales vs. Marketing

Which way would you vote?

 #36
Calvin

Quote:
Originally Posted by Calvin
Where does referrals, networking, etc. fit into your model?
Is proactive solicitation of referrals part of your marketing plan?

 #37
Bald Dog

Quote:
Originally Posted by Mikey
Bald Dog, here is a thread about sales vs. marketing skills - Skills: Sales vs. Marketing

Which way would you vote?
Mikey,

In my experience when qualified prospects come to me, they have already sold themselves on me. I can be a bumbling idiot at selling, I get the downpayment and we start the project.

Now I admit I'm not a good salesman. That's as certain as the sunrise. But... And this is what I've found valuable... I'm a kick-arse diagnostician (My engineering background helps a lot). Instead of taking the client's problem on a face value, I start digging deeper.

And then tell the client, just as a good doctor would, “Joe, I believe your story, but according to the facts, you have syphilis and your dick will fall off in two weeks.” And that will horribly impact his career as a strip dancer who makes over $1 million a year, and has about $15 million to make until retirement.


What happens here?

Moronic prospects start arguing that you don’t know what you’re talking about.

Smart prospects will go white, start sweating and then ask you, “Where can we go from here?” They don't want to lose their earning potential.


At this point there is nothing to sell. And there is no price objection. Actually we're solving a $15 million problem.

Do you think he is willing to invest, let's say, $250,000 in the remedy? You bet he is.


Quote:
Originally Posted by Calvin
Is proactive solicitation of referrals part of your marketing plan?
I believe they give it to you when they are ready for it. But…

Let’s say you’re a financial advisor who has ongoing lifetime relationship with clients, and your clients have many contacts who need financial advising help, and they fit into your DIeal Client profile. Then it’s fair to ask. And guess what? If after one 1-2 years, if the happy client doesn’t introduce me to anyone, the client should be ditched.

Ideal clients should brag about you and your work, and should be keen on introducing you to people they care about.

Quote:
Originally Posted by Houston
Do you think high probability prospecting is chasing leads?
I think it’s a very carefully planned selection process: "Come to me and the best of you will have the privilege to work with me." Some may say this is arrogant. No. I just have a strong conviction for the value of the service I offer, so I don't offer it to losers.

What Jacques’ promotes is that it’s all right NOT to close each and every deal. Good deals will close fairly easily, and there is no need to struggle with problematic deals.

Some people say that the biggest sceptics and cynics become the some of the best clients. Maybe. But personally I don’t have time and energy to convert them. Using fishing language, when I go fishing, I want fresh hot fish and chips waiting for me. All I have to do is to eat it and drink a galss of red wine on it.
Thoughts?

 #38
Mikey
Marketing Skills and Sales Skills

Quote:
Originally Posted by Bald Dog
Mikey,

In my experience when qualified prospects come to me, they have already sold themselves on me. I can be a bumbling idiot at selling, I get the downpayment and we start the project.

Now I admit I'm not a good salesman. That's as certain as the sunrise. But... And this is what I've found valuable... I'm a kick-arse diagnostician (My engineering background helps a lot). Instead of taking the client's problem on a face value, I start digging deeper.
Marketing skills and sales skills. That's a good combination.

__________________
"You're only as good as what you did yesterday, not a month ago, not a year ago."
 #39
Agent Smith

Quote:
Originally Posted by Houston
Do you think high probability prospecting is chasing leads?
Absolutely. HP telephone prospecting isn't about "having prospects come to us" it's about picking up the phone "to chase them".

 #40
Bald Dog

Quote:
Originally Posted by Agent Smith
Absolutely. HP telephone prospecting isn't about "having prospects come to us" it's about picking up the phone "to chase them".
That's quite possible. But then I'm doing the HP process the wrong way round and I'm damn glad for it. I don't think I could handle all the rejection that comes as a by-product of chasing type prospecting.

But maybe I'm too sensitive and should become a monk.

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