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Three Things Missing From Companies Who Don’t Have Commercial Success – Part 2

 

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by Mary-Rose Hoja in EPE, Sales

Last time we started the conversation about the three main things missing from businesses that don’t have commercial success.  We talked about how keeping your time and energy focused on closing deals is vital for business growth.

Today we’re going to look at two more ingredients that I see missing in businesses that aren’t seeing the success they’re after, and the first is a lack of visibility among the people your ideal clients want to see you with.

So what does that mean? It’s a critical concept that I really want you to buy into.  Especially when it comes to new business, you really want everybody that you’re working with to be an A-player. You want fantastic customers that really resonate with you and your values.

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In my world, this means they are good people.  Kind, professional people that I want to hang around with. People who are trying to stretch themselves and desire to make things better in some capacity.  This is true for your clients, and for new business as well.

To flip the coin on that, you are also wanting to attract, spend time with, and be associated with certain kinds of people. There is a hygiene factor. You’re looking at the greater kind of community you want to be building, so you need to make sure that you are visible among the people that they are hanging around with, that they want to be seen with, and they want to see you with.

That is why it is so important that you are fishing where your fish are, especially when you are building business.  This means being visible at panels where they’re going to be, in publications that they read, and on podcasts that they listen to.

You need to think of all the senses that people have, and Expert Profit Engine is based on a psychological and full systems thinking approach to this.  What kind of perfumes or scents do they like? Do they enjoy nature? What kind of movies do they watch, what books do they read? What are they listening to – radio or podcasts?

Visibility has multiple dimensions, including the offline piece. What golf courses or restaurants do they like to frequent? You must know these things, because business is about generating an omnipresent visibility in a relevant context for the people you are wanting to attract.

The offline or analog piece is only one part of this, though.  Even if you don’t like the digital side of things, you must embrace this to stay abreast of your competition. Do not go the way of Kodak! Digital is often how people will look at you, specifically when someone is telling about you – especially on LinkedIn.  It ranks highly, so if someone Googles your name, your LinkedIn profile will be one of the first things contacts look at. This is why you must seize control of your own visibility, and, as far as you can, steer the perception that people have of you.

This means that you must be visible in a relevant way in the digital world before, during, and after an influencer or prospect has contact with you.  You must always be screenshot-able and cut and past-able and email-able in a way that is going to positively influence your commercial success.

You might say, “My influencers aren’t on LinkedIn”. Nonsense. The people who influence them are. That is really important. The power is not necessarily the direct people, but the second and third degree connections that they know. Look at the broader dimensions of what people are going to say about you and who they are going to say it to.

You also need to be visible at a consistent level – you can’t just pop up when you’re looking for a job. It’s often so obvious when employees are looking for a new position because they all of a sudden start looking on LinkedIn. They are having to dig their well when they’re already thirsty, and it’s not a dignified way of doing things.

You want to pre-emptively position yourself and really work on your brand.  We talk a lot about monetizing your value, which is just as important as branding you and your value. In order to do that, you want to be seen as someone who is consistent, structured, and calm. Your customers are often in a situation that is causing a crisis with urgent, expensive problems, and they need stability from you.

While you need to be visible among the people your prospects and influencers want to see you with, it can be exhausting going to events all the time – so I don’t propose you do that. Instead, I propose you start to put processes in place that will ensure your visibility on all points of the sales funnel.  You build a funnel and a sales pipeline where you are providing value at every stage of your clients’ and prospects’ user journey.

Visibility is really important. The reason Coca Cola is so successful is because they are everywhere. At the beach, coke is in all the kiosks. At a pizza place, Coke is everywhere – even on the fridge, so you grab a Coke. You really want to be the Coca Cola of your niche.

What we’re building here is a narrow vertical where you have control over a very specific niche, where you are helping specific people with specific problems via a specific offer. That is why you need to make sure you are visible in a very specific way, making you the obvious choice! Simple as that. People only choose Pepsi when Coke isn’t available. The concept holds. You want to be the go-to person, the no-brainer person. Visibility is really key.

The third ingredient that is really important in companies lacking commercial success is lack of full systems thinking.

What I mean by that is it’s not just about deals and visibility, it’s also about lack of healthy enjoyment and healthy aging as your company evolves. When you have an aging population, the growth needs to be healthy. If you have self-care incorporated, people enjoy going to work. If you have an organization that is solely focused on sales and performance, and you have a culture where the minute someone doesn’t perform, you get rid of them rather than look to understand, nurture and elevate your investment in them as a first step, no one will want to work with you. You will be training and investing in people who will leave. They will go to your competitors, plus you’ll have to find someone else. I really believe what Richard Branson says – You train people to prepare them to leave, and you treat them well enough to keep them and to make them want to stay. Lack of full systems thinking and lack of retention incentives can be a big problem.

Self-care is also key.  You don’t want to get burnt out and not be taking care of yourself. It’s not just about telling you to go to the gym, but making sure that an essential part of your Expert Profit Engine is kept in check and healthy. It’s like your car – every piece needs to be in tune and running smoothly.  You want your phone battery on 100%, not 14%! You must have self-care and retention application and advocacy incorporated in your business – for all the stakeholders, including support people.

So to recap, the keys to building commercial success are a focus on sales, becoming visible to the right people, and maintaining full-systems thinking.

If you’re interested in learning more about how to incorporate these ideas into successfully driving your Expert Profit Engine, please head over to expertprofitengine.com and download our free guide.

 

 

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