The core story combines the value, brand and strategy you have developed to clearly and simply communicate to prospects what you do. It should immediately follow a brand statement. Once delivered, you should have prospects and new acquaintances asking lots of questions which should be stimulated by the core story.
1. Do you know what’s happening in our market?
2. If I work with you, how do we measure results?
3. What do you know about our competitors and their services?
4. Are there risks if we retain you and your firm?
5. Tell me 3 reasons why you are better than firm x?
6. How important is diversity and inclusion to your firm?
7. How can you help us communicate results internally?
In other words, in refining your core story, put yourself in their shoes. If it doesn’t resonate with them in an initial meeting or a formalized pitch, why not? And in a follow-on discussion about retaining your services, have your team members been given training to “close”? Have they practiced going from the core story to implementing your sales strategy? Imagine sitting at the table with a particular prospect because the right industry and the right prospect have been targeted. Your research has given you a clear sense of how this buyer thinks, what their business is about and what the company wants and needs and what your opportunities are vis-à-vis your competitors.
Make sure the core story fits and is blended into your marketing and sales efforts.
Do you know the why? When Mary Barra was first appointed CEO of General Motors, she was asked what the biggest challenge she faced – “The head nodders” she said. They are the people who nod their heads yes when presented with a new program, process, decision, plan, etc. and then just continue on doing what they always have. By addressing the importance of communication, another in the 12 Essential Practices of New Business Development, clarity and follow-up are critical.
If a decision is not clearly communicated and prominent in the minds of the leaders, and followers, it will be difficult to convert it into action. Do not just issue decisions, present plans, unveil new services and then stand back. Remain in contact with those you have delegated to lead the implementation and insure they are doing the same. If obstacles or delays are encountered, identify ideas for collaboration or new steps to take. And continue to call for direct action.
Sound decision making must always keep the end in mind. Take in the longer range view of the desired end result and incorporate those goals into the designated actions. And again, make sure they are repeated often throughout the organization.
CEO Barra recognized that we are all in the people business. And people are creatures of communication. Remember, as she does, that every product and service is designed by people, built by people, sold by and to people. So communicate the why in order to accomplish the what.
So what are you doing about it? All too many companies and firms let new business slip through their fingers every month. Our keynote and workshops utilize methods for finding missed opportunities, underperforming assets, prospect segmentation, targeting and building effective leadership – all proving to double books of new business.
“Brand” is the second of the 12 Essential Practices for Revenue Growth we use in guiding clients in growing more revenue, more clients and opening more doors. It can be visual or descriptive. But as Jeff Bezos of Amazon says, “Your brand is what stays in the room after you leave the room.”
What you say or do in a prospect meeting, at a networking event, or on a speaking panel becomes the mental picture others have of your firm, through you. Will it enable you to have longevity with your targets. Or have you burned bridges without even knowing it. As one counsel stated, in a pitch meeting, we were outnumbered and out-talked. Another mentioned that in a recent meeting she was offered help with managing what they were already doing, not what they needed. And we have even heard that presenters were not prepared, showed a lack of business etiquette i.e. taking calls, and seemed disinterested in building a relationship.
Nike does not sell shoes, they sell performance enhancing products. Black and Decker does not sell power drills, they sell “holes” according to their Senior Vice President for Marketing.
So what is your brand communicating? What are you leaving behind in the room? Remember, there is a critical point at which your values need to become the prospect or client’s need. That is your brand.
When a new client said, “Honestly I don’t know how to begin developing new business,” my response was “So get started already.” As Mark Twain said, “The secret of getting ahead is getting started.”
There are simple instructions to help find new clients and close new business. The following seem so elementary yet are often overlooked by even experienced revenue builders.
If you see a prospect or a client or his/her company mentioned in an article, clip it and send it with a handwritten note.
How about this one: Keep in touch with your college buddies?
If you are on local boards of directors, offer your professional expertise, or get active on the program committee. Give decisive preference to those foundations and boards with current or prospective clients whom you may be selling to (or want to sell to) and with which you are already involved.
“So ask already” is the advice we give to clients who are too timid to ask a client for assistance. “Do you have core clients?” and have you reached out to them for a recommendation? If indeed your clients are receiving excellent results, they should become your best referral source. Remember, according to a recent Harvard Business Review blog,
at least 50% of your new business every year should be coming from clients and referrals.
Ask those core clients to introduce you to others in the company or agency who are handling top level matters. Test drafts of new materials, speeches, articles, presentations, etc. with current and recent clients. This can be a good relationship builder and “invisible marketing” opportunity.
Who will replace your clients if they retire or leave their companies, agencies, commissions, etc.? Good leaders have the responsibility to ensure that all of their client-contact team members build relationships with their peers at clients and in professional organizations.
A critical component of this tactic is to ensure team members identify who would replace clients if they left their positions or if the company was acquired. Invite them to be on a conference panel with you, ask about co-authoring an article which would appear in their industry journal.
Is your firm holding senior management accountable for client succession planning?
Does your firm’s professional development program include “on-going” business development training?
Read OWN THE ZONE for proven tactics to enhance client relationships at www.closersgroup.com;
According to Harvey Mackey, a true marketing guru, ‘EVERYONE IS IN SALES – IT IS THE ONLY WAY TO STAY IN BUSINESS.” It is the responsibility of all firm leaders to ensure that everyone, yes everyone, build relationships with their peers at clients, professional organizations and with their friends.
So when we heard a firm professional say, “My partner does all the selling; I deliver the work”, it was time to bring in the senior management. Simple, common themes provided to everyone in an organization can really help develop and raise your profile. So, just do it.
Respectful competitors help each other – See Mike O’Horo’s DEZURVE. It solves an important problem for law firms. It eliminates the waste of their business development training/coaching dollars by lawyers who aren’t serious about learning and developing business development skills. They estimate that waste at 80%, which is staggering!!!
Go directly to www.dezurve.com for a 30 second video. It’s a convincer!
I get good results, what else is needed?” is a quote from a client. Her business growth was stagnant so we suggested she answer the following 3 questions:
Who are my core clients?
Rate my relationships with each on a scale from one to ten.
When will I begin contacting each and how many each month?
And we introduced her to the Invisible Marketing concept (last post) to use with “good” clients. Too bad we did not take a performance guarantee for a percent of her new business!”
Invisible marketing can be a great relationship building opportunity. Instead of saying “I get good results, what else is needed?” (a client quote), ask them to introduce you to others in their organization or in their field. If indeed they like your work, they will be marketing for you.
Have you considered testing draft articles or speeches with current and recent clients and prospects? Here again, even if they do not respond, you are showing them your skills.
And where you are involved in pro-bono or charity events, invite your clients and prospects. Another invisible marketing tool for a very good cause.
