We’ve shared a lot of great advice this year, and in case you missed it, we wanted to present you with the highlights.
Here are our top seven ROI selling tips of 2016 and how to apply them to your own business.
If you’re trying to find new opportunities in a market, it doesn't necessarily mean you have to expand your product line. First, expand your perspective.
Why do I say this? To paraphrase Harvard marketing professor Theodore Levitt, people don’t want to buy a quarter-inch drill bit. They want a quarter-inch hole. In other words, look at the market from the perspective of the problem that you solve.
How well can you describe the value of your offering to different market segments? Correctly communicating value at the segment level is critical to any successful business strategy. Unfortunately, many B2B sales and marketing professionals communicate value in broad, generic terms, or fail to customize their language to appeal to different market segments.
Fundamentals, in most competitive endeavors, are what we must first learn and master in order to perform well. They provide us with confidence in setting basic direction and a stable foundation when the going gets rough. In marketing, sound fundamentals help set strategic direction, guide tactical plans and provide benchmarks for determining execution and performance.
When customers ask for new products or features, should you jump to fill the request? These situations can help you deepen your relationship with your customer. On the other hand, you could also end up wasting time and resources creating a new offering that they're not willing to pay more for and that no other customer needs.
When you make the decision to target market segments strategically, you can create significant profitable growth opportunities for your business. But what happens when the sales team fails to embrace those new segments?
It’s not that salespeople want to sabotage the efforts of marketers. But resisting change is part of human nature. When salespeople have spent months and years developing relationships with established customers, it can be difficult to make the switch to selling to a whole new set of customers.
Recently I read a MarketingProfs blog post reporting that business decision-makers are 10% more likely to consider B2B brands that consumers know and feel connected to.
The report, which was based on data from a survey of 9,500 global consumers and 450 business decision-makers, included some interesting charts and categorized companies in four ways.
Like just about everyone, we’re well aware that video can be a powerful vehicle to communicate with prospects and customers.
According to Inc.com, 92 percent of B2B customers watch online video and 43 percent of B2B customers watch online video when researching products and services for their business (with 54 percent of these watching on YouTube). Numbers like these make video a difficult medium to ignore.
If your most valuable customer had the chance to buy from another supplier, would they?
Of course not! You have the best product on the market. You have the best brand recognition. Your prices may not be the lowest around but you have a rock-solid relationship with this B2B customer. You would walk through fire for them. No way would they leave you for a competitor, right?
This is Part IV of a five-part series about the value lifecycle in B2B selling and marketing. This post explores Phase 3: Differentiating from your competition.
So far we've learned two important points about the value life-cycle.
1) In Phase 1, the maximum price you can charge for your product/solution is the value you create minus the value of the next best alternative, plus the price of the next best alternative.
2) In Phase 2, your job is to show not only how much the customer’s problems are costing them (both in terms of actual cost but also lost revenue), but also how much your solution can help them overcome that cost.