Article 27 : Get Your Business Out of the Box!
Periods of economic downturn are ideal opportunities for companies who are not afraid to take chances and try new things. As all good fishermen know, when the fish don’t seem to want to bite it may not be because they aren’t in the area or hungry but rather because what you are offering just doesn’t interest them anymore. So do what they do – Try a Different Bait! In this case the different bait could be a totally new service you are now offering or a product line which, in the past, had taken a lesser role.
The benefit of making a push with a new or lesser known product/service is that you now have a different reason to call your current client base or prospect. It also demonstrates that you have taken on more of a full service business partner role by providing your customers with options in areas you previously never discussed.
Here is the “rub” to the above strategy, though. Most of your current clients or prospects have already, in their head, attached your company name with a specific core product line. They have nicely and neatly put you in a box and placed you on a shelf. That box may be; financial advisor, personal insurance broker, home realtor, auto mechanic, etc. In one sense that is good news because you have separated yourself from the endless litany of companies to at least “box” status. On the other hand it is bad news because now you are only thought about when that specific need arises and even then you are not guaranteed the business or that your client/prospect will call you timely.
Whenever you want to introduce a new line to your target base you have to do more research into the companies you want to approach to make sure this new offering has value for either them or for their client base. This research will help with the client qualifying process as well as positioning you as more of a professional salesperson v. just an order taker. Even though this type of approach will take extra time, the end result is that it will bust the “box” barrier mindset off of you and your company and ultimately translate into more sales from new untapped revenue streams.
Because of the times we live in it is now even more important to showcase a deeper breadth of products/service in order to make it easier for your client to focus on their core business. Remember you don’t have to be the leader in every industry to gain traction. You just need to demonstrate that you are more of a strategic business partner so companies begin to think about you when they are considering adding, changing or adjusting a product/service.
Companies are looking for business partners who can do more for less and that less doesn’t always revolve around “cost”. Many times it revolves around; saving them time, removing stress, or eliminating redundancies. Make a commitment today to become that business partner who provides multiple solutions for their clients!
Rdestiny, LLC – Business Consultants