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HowToGrowSales,BusinessDevelopmentandLinkedInStrategyInterviewWith:MrWayneBreitbarth

Episode103

ReleasedtoiTunes:7October2016

Here to Serve AustraliaOffice(Adelaide)+61881215711EuropeOffice(London)+442037697425

www.thebusinessfirm.com.au

TheBusinessFirmisaninternationalbusinessconsultancycompanybasedinAdelaide,SouthAustralia. Weprovidebusinessservicestocommercialenterprises,governmentagenciesandnon-profitorganisations.

Ourmissionistohelpourclientsachievehigh-leveloutcomes.Phone+61881215711.

BUSINESSPLANNINGWewritesophisticatedbusinessplansfororganisationsthatprovideablueprinttoachieveitsobjectives.Documentationiscomprehensiveandeasytofollow,likeanoperationsmanual–stepbystep.Allourbusinessplanningisbasedonfactandrealmarketconditionssotheyarerelevantandachievable.

RESEARCHWeconductmarketresearchtodeterminetheviabilityofamarketorproduct.Wedocustomersatisfactionresearchtofindoutwhatanorganisation’scustomerthinkofitsproductsandservices.Wealsoconductbrandresearchtodeterminetheattitudesheldbythemarkettowardsanorganisation.

MARKETINGSTRATEGYANDBRANDWepreparestrategicmarketingplansforourclientsthatprovideforgrowthofsales,increaseinmarginsandgrowthofthebrand.Ourfocusisnotonlytocreatewealth,buttocreateabrandthatishighlyvaluable,soitisworththemostmoneypossibleintheeventabusinessissold–ortheownerisnolongerinvolved.

ADVERTISINGANDPROMOTIONWeunderstandthemostcostefficientandthemosteffectivewaytospendmoneyonadvertising.Wecreateadvertisingfortelevision,radio,musicaljingles,newspapers,displayads,outdoorbillboards,cinema,online(Google,internetbannersetc.)andforthesponsoringofevents,teamsetc.

eLEARNING,TRAINING&EDUCATIONPRODUCTSWedevelopcustomised,highlyinteractive,game-basedonlinelearningcoursesfororganisations.ThesehighqualityeLearningsolutionsallowanorganisationtoachievefullcompliancewithallindustryandstateregulationsatsignificantcostadvantageandinreal-time.Solves:compliance,inductions,registrations,assessments,workplacetrainingandotherknowledge-basedrequirements.Inperson/classtrainingtoo.

SALESSTRATEGYANDSALESFORCEMANAGEMENTSalesarethelife-bloodofallorganisations;therefore,yoursalesstaff(whomrepresentbothyourbiggestassetandyourbiggestexpense)out-performsyourcompetitors.TheBusinessFirmhelpsyouachieveworld'sbestpractiseinsalesthreeways:bycreatingacustomisedsalesplan;byteachingsuper-effectivesalestechnique;andtrainingtheentireorganisationincustomerservicesoyourclientsonlyeverexperiencetotalsatisfactionandbuyagainwhenitistime.

EVENTMANAGEMENTWeplan,executeandassesseventsfororganisations,suchasproductlaunces,professionalseminars,tradeshows,fundraisingdinners,auctions,conferences,sportingeventsandentertainmentshows.Wewillmanagealllogisticsforevents,includingticketing(bothphysicalandelectronic)aswellasback-endsystemstohandlesales,statisticsandthecreationofaCustomerRelationshipManagementdatabase.

CONSULTINGANDTURN-KEYPLANNINGWewillcreateforyouaworld-class,modernbusinesssystemthatwillscaleseamlessly,allowingyoutogrowalargebusinessthatiseasytorun,issuperefficientandsignificantlymoreprofitable.Wesupportorganisationsfrombeginningtoend:fromresearchtostrategicplanning,itsimplementation,thetrainingofstaffonsystemsuponrollout,systemsoperationsanditsongoingrefinementandimprovement.

DIGITALONLINEANDWEBSITEWecreate:websites,eCommercesolutions,Facebook,YouTube,Twitter&LinkedInsocialstrategies,YellowPagesdigitaladvice,searchengineoptimisation,iTunesworldwidesales,Appleapps(iPhone,iPad,iBooks),Google,Bing,Yahoolistingsandaffiliaterevenueforyou.

FUNDRAISINGSYSTEMSWecreatefornon-profitsorganisations:regulargivingprogrammes,attractsponsorships,membershipgrowth,events&functions,In-Memoriamdonations,majorgifts,capitaldrives,databasemanagement,competitions&socialmediafundraising.

AUDIO,VIDEOANDPODCASTPRODUCTIONOurinhousestudioproduceshighqualityaudioandvideocontentforradio,podcating,television,YouTube,onlinestreamingbroadcasts,education,training,sales,leadgeneration,events,productlauncesandfundraising.

PUBLICRELATIONSANDLOBBYINGWeplanandexecuteproductlaunches,opendays,facilitytours,tradeshows,pressreleases,publicity,mediarelations,pressconferences,lobbying,informationevents,competitions&giveaways.Wealsododirectmailcampaigns.

PUBLISHINGHOUSE(inc.electronicpublishing)Wecreate:magazines,yearbooks,almanacs,manuals,tenders,books,novels,textbooks,electronicpublishing,investorprospectus.Wealsoofferproofreadinganddocumentlayout.Wecantakeyourexistingprintworksandpublishthemelectronicallysotheycanbedistributedworldwide.Thisisthelargestdistributionchannelintheworld.Wehelpyousellyourworksgloballyordistributeforfree.

ONLINEEVENTBROADCASTING,WEBCASTS&WEBINARSWecreateengaging,highconversiononlinebroadcastsfororganisationsworldwide.Wedevelopprofessionalqualitycontentthatconveysyourmessagewithpower.Whetheryouwanttoselltobusinessesorindividuals;educateandinform;influencepublicopinion;generateleadsglobally;streamyourliveeventonlinetotheworld;recordandpostforopenreplay;orrunanonlinesummit;wehavetheproductioncapabilityandonlinevideocapacitytobeaglobalstar.

NEWSLETTERS,MAGAZINES&PROSPECTUSWecreatenewslettersfororganisations,magazinesforindustrygroups,catalogues,syllabuses,investorprospectuses.Wepreparetenders,bids,proposalsandsalesdocuments.Wewillmanagetheentireprocessfromtexttodesktopdesigntoprintingthefinalproduct.

PRESENTATIONSANDMULTIMEDIADISPLAYSWecreatestunningsalespresentationsthathavehighimpactandgetresults.Publicdisplaykiosks(touchscreeninformationdirectories).Educationalinteractivelearningaids.Shopwindowdisplaystosellitems.POSdisplays.Shoppingmalldisplays(foradvertisingandinformation).

About the Podcast WeproduceaweeklyradioshowthatisdistributedgloballythroughiTunesandonStitcherRadioasapodcast.Theshowisdesignedspecificallyfordecisionmakers:entrepreneurs,businessowners,high-levelmanagersandBoardDirectorswhotypicallycontrolsignificantplantandhumancapital.Eachepisodeputsanotherpieceofgoldinyourpocket,representingdifferenttopicsrelatedtorunningahigh-performingbusiness.Youwillgetempiricallyproven,strategicadvicethatwillresultinmoreprofitforyou.Areascoveredinclude:strategicmarketing,businessdevelopment,salesperformance,advertising,publicrelations,socialmediapromotions,eCommerce,large-scalefundraising,researchandhowtobuildaglobalbusinessproperly.Youwillcollecthigh-levelcontentfromhostMrStevenMarioCavallo,TheBusinessFirm'sfounder;andyouwillalsogettheopportunitytohaveabusinessproblemyouaredealingwith,solved.Youcansubmitanaudiorecordingofareal-lifebusinessissuebyemailinganmp3fileto:answers@thebusinessfirm.comauYou’llalsoenjoyasky-highviewfromtheTowerofSuccesswhereyou’llsitalongsideSteveninTheBusinessFirmPresidentialLoungeandpickthebrainsoftheverybestbusinessthoughtleadersintheworld,duringaninterview.Youareinvitedineveryepisodetolistentointerviewswithincredible,world-leadinginformationsharedbysomeofthebusinessworld'smostexpertthoughtleaders.Guestsincludetoppractitioners,entrepreneurs,ProfessorsfromthegreatestUniversitiesoftheworld,successfulbusinessowners,coachesandmentors,industryleaders,authorsandotherhigh-achieving,credibleindividuals.Ifyoufittheabovedescription,havecontentofvaluetobusinessownersandareaconfidentspeaker,pleaseapplytobecomeaninterviewedguestbyemailingusat:guest@thebusinessfirm.com.auThisistheshowthatwillhelpyouinyourduty,ofbeinganeffectivebusinessleader.TheBusinessFirmRadioShowisproducedinAdelaide,SouthAustraliaweeklyandreleasedinternationallytoourworldwideaudience:thedecisionmakersandentrepreneurswhoarebuildingourglobaleconomy.SubscribetoTheBusinessFirmPodcastoniTunesandnevermissanepisodeagain,asitwillautomaticallyappearforyoutolistentoonyourdevice,atyourownconvenience.Inadditiontoenjoyingthefreeinformationonthepodcast,youarewelcometoafreeseatinthenextWebinar(onlineseminar)whereStevenwillbepresentingvitalaspectsofmarketingscienceandbusinessdevelopment.Topicscoveredinclude:howadvertisingREALLYworksandhowtoonlyspendmoneyonwhatACTUALLYgivesreturns.Learnhowtosell20%morewithoutanyextracustomers;andwerevealthetruthaboutconsumerbehaviourandHOWbuyersactuallychoosebetweenyourbrandandyourcompetitors’.Plus,you'lllearnthethreebiggestpiecesofmisinformationthatwastesmoneyandleadstonothing–thingsthatnearlyeveryonehasalreadybeensuckedintodoing!Thisinformationistotallyunknownbyyourcompetitors(andthefalse'gurus');soknowingitisalucrativeadvantageyoucaneasilygetoveryourcompetitors.Doyourselfafavourandattendthenextwebinar.Itwillendyourvulnerabilitytomisinformationandcanfinallystemtheflowofsomanyunnecessaryexpensesyouareprobablyalreadyincurring.There’snocost,noobligationandyou’llmakemoneyfromtheinformation.Checkwhenthenextoneisonat:www.thebusinessfirm.com.au/webinars.html

Discussion Inthisepisode,StevenMarioCavallodiscussesmanyaspectsofhowtogrowyoursales,howtodobusinessdevelopmenteffectivelyandefficiently;andalsobringsyouinformationaboutcultivatingbusinessusingtheLinkedInplatform–theworld’sbiggestprofessionalnetwork.Todaywefocusonthesystemthatdrivessalesrevenue,asthisisusuallythefocusofmostbusinesses’efforts.Notehowever,thatanincreaseinsalesdoesnotnecessarilyresultinincreasesinprofits,aslargevolumesoftenrequirelowmargins.Let’sfirstbeclearonwhata‘sale’isinthecontextofthisdiscussion:

• Itisthepointatwhichcustomerisconsideredtohave‘bought’yourproductorservice.• Doesnotnecessarilymeanyouhavebeenpaid(althoughinmostconsumermarketsyouwillhave)• Doesnotnecessarilymeanthecustomerhaspossessionofitemyet.• Scopeoftoday’sdiscussionincludes:B2C,B2B,B2G,onlinesalesandsellingtonon-profits&education.• Excludesexchangesdeliberatelymadeataloss;e.g.charitygivesthingsaway,govtspendsmoneywith

noexpectationofacommercialreturn(thesetypesofexchangeswillbecoveredinacomingepisode)Certainmarketconditionsmustalreadyexistinordertomakeameaningfulnumberofsales:

• Marketmustbeofaviablesizeandhavebuyerswiththeeconomicmeanstopurchase• Buyersinthatmarketmusthaveaneedtheywanttofulfilwithyourproductorservice• Buyersmustbemadeawarethatyourtypeofproductorserviceexistsandhowitbenefitsthem

Certainconditionsmustbemetbythefirminordertomakeameaningfulnumberofsales:

• Yourbusinessmusthaveareliablesupplyoftheproduct,orthecapacitytoproducetheserviceyousell• Youmusthaveadequatedistribution(eitherphysicalorvirtual)throughwhichtosell(eitherownedby

youorsuppliedtothemarketviadistributors)• Mostimportantly,yourproductorservicemustfittheactualneedthemarkethas(i.e.itmust

effectivelysolvetheproblem,orcatertotheneedsofthebuyersinthatmarket).CRITICAL:Thebuyermustperceivethatyourgoodorserviceprovidesthemwithmorevaluethanthemonetaryvaluethey’veforgone.(repeatphrase)E.g.simpleillustrationistheVALUEplacedonofabottleofwatercanvarydramaticallydependingonthecontext…(explain).Inthisway,asmallcomponentoringredientthatsavesabusinessamilliondollarsayear(ormakesthemanextramilliondollarsayear)isWORTHalotofmoneytothebuyer,evenifitcostsafewcentstomake.(e.g.infraredheaterforcommercialpaintingindustry).Ifyourbuyersperceivethevaluetheygetislessthanthedollarpriceofyouroffering,theneitheryourpriceistoohighoryouneedtodevelopyourproductfurther(orcreateanewonethatmoredirectlyfillstheirneeds).Bestpractiseistoconductresearchthatgivesyouadetailedunderstandingofwhatbuyersactuallywant,andthengomakeittothatexactspec.Thatway,youhaveanofferingthat‘ticksalltheirboxes’andappearscustom-madeforthem.Thefollowingisnotexhaustive,butisausefuloutlineofthesystemsthinkingrequiredtomanagesalesinanorganisation(i.e.itisasystematicmethodology-thereisnosinglemagicbullet).Yourorganisationshoulduseamulti-prongedapproachtothemarket(i.e.nevertreatthetotalmarketasasingle,homogenousbuyer).

LEADGENERATIONFromamicroeconomicsperspective,youmustknowthemeaningfulmarketsegmentsofyourbuyers

• Consumer• Businesses• Government• Geographic• Demographic(age,income,education)• Size• Cultural• Industryclassification(ANZSICinAustralia,NACEinEurope,UKSICinBritain,NAICSinNorthAmerica)

UnderstandingtheproblemsfromtheperspectiveofeachofyoursegmentsWhetheryouselltoconsumersorbusiness,alwaysbecertainonhowyourproductorservicetakestheirspecificpainaway.Remember,eachsegmenthasdifferentpains/needs/wantssoalterwhatyoutelleachsotheyonlyhearwhatisrelevanttothem.Chooseappropriatepromotionalchannelsandmethods

• Advertisingo Trademagazines(companiesthatsupplytospecifictrades)o Televisionandradio(broadbasedappeal,FMCG,lowestcostperimpression)o Newspapers(abilitytoincludemoredetailinanad,cut-outcoupons)o Online(interactive,controlcosts,abletotargetnicheinterestsviaFacebookads)

• Promotionviaindependentdistributorsorsatellitebranches(pushinitiativessuchasholidaysforhighestperformingvendor)

• Networkingevents(representyourcompanywhereinfluencersare,promotetoindustrygroups)• Referrals.Youmusthaveasoundlydesignedreferralsystemthatgeneratesnewcustomers

automatically.Therearecertainattributesofsuchasystemthatarecritical,soensureyouengageafirmthatunderstandsthoseprincipals.Ifsetupcorrectly,itcanbeextremelypowerfulingrowingyourbusinessasisevidencedinthereferralprogrammeswehavesetupforclients.

• Publicrelations,publicity,eventsetc.(ifyourbusinesshasnotoriety,newinvention,providecommentarytocurrenteventsofcontroversy)

Includeanappropriatecalltoaction

• Tollfreenumber• Visitastoreordistributor• Bookafreeconsult• Gotothewebsite• Clicktoinitiatechatsession• Clicktobuynow(online)• Inapppurchase

SALESMANAGEMENTSalesforceintheorganisationalstructure

• Bestintegratedaspartofthemarketingfunction• SalesManager,AdvertisingManager,PRManager,MarketResearchManager,CustomerServiceManager

allreporttotheDirectorofMarketing• Thisensurescoherenceandthatalloutwardeffortsareunified(e.g.nothingworsethanasalesrepthat

isnotawareofacurrentspecialwhenquizzedbyacustomer)• Ensuresascustomerfeedbackcomesbacktoorganisation,itisproperlyassimilatedintoproduct

development• Mostimportantly,itgivestheorganisationamarketorientation(i.e.everythingisalignedwiththeneeds

ofthemarket)Salesterritories

• EnsurethebasisbywhichyouassignterritoriesisbasedonthecharacteristicsofthePEOPLEthatcomprisethemarket,i.e.thenatureofthebuyers.Thismaynothaveanycorrespondencetocommonlyacceptedgeographicalregions,particularlywithinasinglecity.

• Territorialdesignisatoptimumwhenalldistrictsequalinbothsalespotentialandthesalesreps’workload.

• Whensalespotentialsareequal,thenitiseasiertocomparethesalesperformanceofindividualrepsanditalsoimprovesthemoraleofyoursalesforce.

• Aspopulationdensityshiftsovertime,youmustadjusttheterritoriestomatchorthoseyourelyontocreateyourrevenuewillhavedisputesamongstthemselves.

• Overlayalltargetsfromthedifferentsegmentsontoageographicalareatofullyunderstandthetotalsalespotentialofthatarea.Salesrepsareveryexpensivesoaimtominimisetraveltimewhereverpossible,andtraineachreptobeabletoproperlyservicedifferenttypesofcustomersintheoneareatoavoidduplicationofsalesroutesbymultiplereps.Thiscoulddrasticallyincreasethenumberofsalesperhour.

• Usecomputeraidedtoolsthathelpsolvethetravellingsalesmanproblemwhenindrawingthemostefficientsalesroutes.

• Buildincentivesandrewardstoencouragehighsalesperformanceinyourstaffandavoiddisinterest.Ensureyouhavetheproperamountofsalessupervision

• Enoughtoprovidetrainingandassistance• Adequateenforcementthatcompanypoliciesarefollowed• Monitoringofperformance• Providesrelationship,encouragement,assuranceandrecognitionforyourpeopleoutontheroadalone,

facingrejectionafterrejection.• Formalmotivationaldriverse.g.teamgoals,personalgoals,enjoyableworkculture,jobsecurity,

belongingtoastrongsocialstructure(lookforwardtocomingbacktotheworkplaceattheendofothedaytoseetheirworkmates),respect,involvementinregularstaffmeetingtocontributeandfeel‘ownership’oftheworkathand.

• ImprovesmoraleandleadstogreatersalesperformanceWithsalesmanagementallsetandleadgenerationcranking,youmustbepreparedtoact!

SALESPROCESSLet’svisitsomeofthemostcrucialelementsinpersonalsellingasitpertainsboththeB2CandB2B.Iwilltouchonareasyoucannotaffordtobeweakinasmistakeshereresultwillpreventanychanceforsalesgrowth,nomatterhowfabulousyourproductorserviceis.Readinessofyoursalesstaff

• Aretheyadequatelytrained?o Knowledgeofeachcustomersegmentanditsspecificneedso Uptodatewithallcurrentspecialsandhascopiesofalladvertisementso Guidanceofmostappropriateofferingmatcheseachtypeofcustomero Productknowledgeo Organisationalstrengthsandcompetitiveadvantages/disadvantageso Salestechniqueo FAQ(overcomingcommonobjections,returnspolicy,pricingauthority)

• Indoctrinationandbelief• Salesaids

o Scriptso Brochureso Financialsimulationsthatprovethefinancialviabilityforcustomerstobuyo Demonstrationstocko Video

• ProvideyoursalesstaffandsupportteamwithgoodCRMandtrackingsystemssotheyareinformedofthecustomerdetails,purchasehistory,deliverystatus,financialstatusandcasenotesofpreviousinteractionswithyourorganisation.

• Eventhehigh-endversionsofoff-the-shelfsoftwaresuchasQuickBooksProorReckonPremierorXerocandothisreasonablywell,ifthecreationofyourowncustomdatabaseisnotfeasible.

ConsultativeSellingApproach(asopposedtojust‘pushingyourgear’towhoeveryoucan‘con’)

• Isindicativeofarelationship-basedapproachtoselling• Salespersonfocusesontheneedsofthebuyer(notontheirownneeds)• Theclienthasanissueorproblem,whichisdiscussedandunderstoodbythesalesperson• Theclientistreatedasanequalinthisconsultativeprocess• Thesalespersonthensolvestheclient’sproblemascomprehensivelyaspossiblebysuggestingthe

productsorservicesthatsuittheneedsoftheclient(onlysuggestthingsthatarerelevant)• Ifthebuyerunderstandsthesellercanremovetheirpainandtheproposedproductorserviceis

perceivedasmorevaluablethantheaskingprice…onlythencantheirbeasale.Thesalesmanthattalkstoomuchanddoesn’tactivelylistentothecustomercannottransfertothatcustomerafullappreciationoftheincredibleworkdoneforthem,byeveryoneinyourbusiness.Thefullvalueofyourworkcanonlybeunderstoodwhentheentirepictureisrevealed.Noprofessionalfilmmakerwouldeverallowanincompetentprojectionisttoobscuretwothirdsofacinematicmasterpiecefromtheaudience’sview.Grouppresentations

• Commonwhensellingtobusinesses• Presentationsareoftenmadetoapanelofprofessionalbuyers,eachofwhomrepresentadifferent

functionaldepartmentwithintheorganisation:e.g.operations,marketing,finance,engineering• Ensurethepresentationcoverstheneeds(i.e.solvestheproblems/tickstoboxes)thatareuniqueto

eachofthesedepartments(i.e.hasaspecificpartforeachofthepanelmembers)• Makesureeverypersonfullyunderstandshowyoucansolvetheirproblemorsatisfytheirneed• Muchmoreeffectivetoanswerquestionsthroughoutthepresentation,ratherthanwithholdingthem

untiltheend• Includequantitativeandqualitativeproofthatwillhelpthepanel(orindividual)arriveatapositive

purchasedecision(e.g.calculationsusingtheirrealnumberstogivereliableestimatesofsavings;orphotographsandvideoorbefore/afterresults;andwhereverpossible,livedemonstrationsthatinvolvetheaudiencesuchastorturetests).

Ifyouselltoresellers,clearlycommunicatehowyourproductorserviceiscommerciallyadvantageoustothem:

• Theresale-abilityofyourproductandhoweasyitisforthemtosell• Opportunityforgreatersalesvolumes,moregrossprofitonresaleandischeaperforthemtoacquire,

haslowertransportcosts,canbedeliveredmorequickly,proximitymeanstheyneedtowarehouseasmuchetc.

• Emphasisethatyouprovidesuperbtrainingsupport,marketingsupport,easyordering,easyreturnsforreturneditems,favourablecredittermsandanotherotherbenefits.

Respondingtoobjectionsandproblems

• Commontypesofobjectionso Relatedtothecustomer’ssituationorattitude(e.g.loyaltytoacurrentsupplier)o Relatedtoyourproductorservice(e.g.price,missingfeatures)o Relatedtoyourcompanyorthesalesperson(e.g.companyreputation,repistooyoung)

• Receivingobjectionso Anticipateandprepare(bereadyforthecommonconcerns)

§ Yoursalesstaffmustneveravoidobjections§ Analysetheirbackgroundandcause(tounderstandthem)§ Preparesheetsforyoursalesforcedetailingcommonobjectionsineachsegment,with

theappropriateresponseso Bepositiveandconfident,butnevercocky.Yoursalespeople’sgoalistoprovidegenuinehelp,

notwinanargumento Yourstaffshoulddealwitheachobjectionaswhenitisraisedorthebuyerwillnothearany

moreofwhatthesalespersonsaysbecausetheirmindwillbestuckontheunresolvedissueandsoblockanychanceofasale

• ObjectionstoPrice(3:you’retooexpensive,it’soutsidemybudget,it’snotworththemoney)o Priceandvalue

§ Itisyoursalesteam’sresponsibilitytoensurethebuyerhasafullopportunitytoexaminevalueratherthantheinitialprice.

§ Veryfewbuyerscanbuysolelyonprice(thisispossiblyonlywithcommodities)§ Makethisyoursaleteam’smantra:“Valueofthetotalbenefitofowninga

product/servicecomparedtothetotalcostofowningitӤ Thetotalcostofownershipincludestheinitialprice,plusthecostinmoney,time&

inconvenienceofoperation,servicemaintenanceorrepairs,overitsusefullife.§ Thetotalbenefitofownershipincludesbothtangiblebenefits(workscorrectly,is

reliable,durableetc.)andintangiblebenefits(reputation,vendorsupport,services,prestige,peaceofmind,improvedself-imageetc.).

§ Ensureyoursalesforcehastheabilitytoproperlydemonstratethelifecyclecostingcomparisonsusingreal-lifefiguresoverdifferenttimeperiodsthatprovidethetotalcostofownershipislesswithyourproduct,despitethehigherinitialprice.Itisessentialyouprovidethemthetoolstodothiseasilyandaccurately(e.g.aspreadsheetoronlinecalculator).

§ IhavedonethisverysuccessfullyanumberoftimeswhereIsoldlarge-ticketequipmenttobusinessesthatwerehundredofthousandsofdollarsmoreexpensivethanacompetitor’soffering.Ineverycase,theproductwasgenuinelybetterfortheiroperationsandIwasabletoprovidethemunequivocalmathematicevidenceofthis,usingtheiractualinputvariablesandtoprojecttheresultantsavingstheywouldenjoyoverthenextmonthsandyears.Whatinitiallylookedtothemlikeanoverpricedofferendedupbecomingapurchasetheysimplycouldnotdowithout.EverysaleIpresidedoverwentthrough.

Buildingrelationshipswithkeycustomers

• Yoursalesstaffshouldbeinvestingincustomersatagenuinelevelandshowinterestinthepersonallivesofthebuyerstheycometoknow(e.g.rememberingbirthday,enquiringaboutkids’progressetc.)

• Goodaccountmanagemento Integrationofsalesintothemarketingfunction(keepssalesstaffmoreuptodatewithmarket

trends,givesbuyersagreatersensethatyourorganisationisamarketleader)o Developadocumentedaccountmanagementplanthatincludesallcustomers(don’tallowa

haphazardapproachtocustomercareasitwillalienatecustomersandcausesalesatrophy)o Reduceentryfrictionwhereverpossibleandbuildmaximumexitbarriersforcustomergrowth

andretention.SeeAdditionalResourcesEhrenbergBassInstitute:https://www.marketingscience.infoYourBusiness’AbilitytoAchieveGameChangingInnovation:www.gamechanging.com

Interview

In this episode,wehear fromMrWayneBreitbarth, aLinkedIn trainer and consultant.He shares someofhistremendousknowledgeonhow tobuildbusinessusingLinkedInasaplatform forgrowth.His is a consultantbased inMilwaukee in theU.S. and from there he helps someof the largest companies inAmericawith theirsocialmedia strategy. He is also a prominent speaker on business and is the author of the seminal guide forprofessionalswishingtomakemoney fromtheirLinkedInprofile, “ThePowerFormulaForLinkedInSuccess”.Aboveallofthis,heisagenuinelygoodblokeanditwasapleasureformetointerviewhim.MoreinformationaboutWayneandtopurchaseacopyofhisbook,visithttp://www.powerformula.net

Audience Question Today’s question comes from Bruce, who is a British ex-pat and owns a number of large swimming centresacross France. He asks, “What is the most appropriate advertising he should spend money on to grow hisbusiness?”Answer,firstmakesureyouareproperlysetuptoattractyourcustomers:myguessofthenatureofhisbusiness,hehasfourmaintypesofbuyer:professional,enthusiast,institutionalandrecreational.Understandtheneedsofeachinrespecttoservices(levelofcoaching,games,medicalsurpervision)products(foodandcoffee,birthdaycakes,playequipment,mobilityaids,relaxationchairs,watersafetygear,souvenirsetc.),daysoftheweek,timesofdayetc.Thereisnopointspendingbigdollarsonadvertisingifyouarenotreadywiththerightthingstoselltothosethatrespond.Youcan’tgetanyROIifyouthroughbaitintothewaterthat’snotattachedtoahook!Inrespecttopromotions,useadvertising,butalsousedohighlytargeteddirectmarketing(toeachbusinessunitinyourmostimportantinstitutionalsegments,somepublicrelations(suchashighprofileevents,dospeakingtointerestgroups)andspendsomemoneyongoodqualitycontentmarketing(e.g.articlesandvideosthatexplainthehealthbenefitsofaquaaerobicsasalowimpactsportforretirees).Youaskedspecificallyaboutadvertising,sotheseiswhatIwoulddo:

• Televisionadso Broadbasedappealtogeneralpublic(helpsgrowyourrecreationalsegment)o Lowestcostperimpressiono Highestimpactadvertising(showofffacilities)o Includefootageofapersonrepresentativeofeachofyoursegmentsderivingthespecificbenefit

eachseekso DoNOTshowtheadat3am!Playjustonceaweek(ifthatisyourbudget),butatprimetimeo Goforreach,notfrequencyo SupporttheTVcommercialwithasalespromotionembeddedintoaradioad(playdrivetime)o SupporttheTVcommercialwithasalespromotioninanewspaperad(inSundaypaper)

ListentoEpisode103tohearallofSteven’sadvicetothisquestion.ItcanbefoundiniTunesunderBusiness.ThisisthefavouritepartoftheshowforhostStevenCavallobecausehegetstodirectlyhelprealpeoplewithanactual problem they are having in the areas of business development,marketing, sales or fundraising. Stevenfeaturesoneoftherecordedquestionssentinbylisteners,andplaysbackthatrecordingonair,alongwithhiscommentary.Tosubmitaquestion,pleaserecordyourquestionasanmp3(maximumfilesize10Mb)thatisnolongerthan60secondsandemailitto:answer@thebusinessfirm.com.auWhilewe canaddressyour issueandprovide somevaluable insight forquestions featured;of course,we canonlygointobriefdetailintheminutesavailableinthepodcast,soweencouragelistenerswhowantmoreformaladvice(regardlessofwhethertheirquestionisfeatured)tooutlinetheirspecificproblem/opportunityandemailitdirectlytoconsulting@thebusinessfirm.com.auandyouwillgetareplywithin24hours.

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