"Market Pull results in higher marketing and sales ROI than Market Push and makes everyone’s life a lot easier. Ask B2B business owners which they would prefer, and you’re unlikely to find anyone that wouldn’t prefer to have customers lined up at the door asking to buy their products than having to coax them out of the brush to engage." Market Push Market Push is exactly what it sounds like – aggressively pushing and promoting of your product to any and all that will listen. After all, customers can’t buy your products if they don’t know they exist. So, marketing must become obsessed with “getting your name out there”. Right? Well, not really. That obsession makes Market Push programs expensive and
In the early days of my consulting practice I would give a talk at venues where CEOs convened to hear about specific topics of interest. I would give my talk and folks would walk up to me afterward, hand me a business card, and say, “That’s real interesting stuff. I think it might be able to help us. Please give me a call to arrange a time to get together and talk.” Those introductions led to client engagements. Engagements led to client successes, and successes led to CEO-to-CEO referrals. QMP's business is still largely maintained through talks and referrals.
Recognizing the critical role the lead client executive plays in a consulting success, we conducted an analysis of the last ten years of QMP engagements. That analysis brought us to this conclusion: The personality type of the highest client executive involved in a specific consulting engagement, not simply his title or position, is the best predictor of an engagement’s ultimate success and the longevity of economic benefit received by both the client and the consultancy practice.
Where does one begin the search to find new markets? The good news is: new high-potential market opportunities are typically discovered closer-in than you would imagine. Some await discovery hidden in the clutter of your current customer list. Others find you, not the other way around. In either case, your task is to recognize and quickly assess their viability.
After many years of both conducting sales training workshops and personally selling, I have come to recognize six popular misconceptions about selling. And, I must say, every time I broach those myths during a sales training session I get push-back, disbelief, the wagging of heads and several audible "No Way!'s".
When we ask groups of salespeople in our workshops and talks to raise their hands if they have ever lost to an inferior offering, they always, almost universally, raise their hands - even though we have told them ahead of time, "It's trick question." The truth is: No one ever loses to an inferior offering. Read why this is true.
It's a Relationship Business! That four-word phrase is probably the most common statement we hear when we talk to sales people about their business. Read this QMP Insights blog post to understand, and avoid, the hidden risks associated with that belief.
Between the banks pushing for higher prices and margins on your products to generate improved cash flows (or you lose financing), and your big customers pushing for lower and lower prices, what’s a manufacturing firm to do? And, how does a sales person make a living if he isn’t price competitive. Isn’t some margin, albeit low margin, better than losing a customer?
For small to mid-size businesses, the decision to commit resources to target a large account should considered carefully. The primary considerations are: "What are the implications of winning?" and if those are acceptable, "How should we go about it?" So let me provide you both sides of the story.