Have you ever received a really bad cold call, cold email or received terrible service somewhere? Obviously! I know I have, and my experience last week made me realize something very important. It is a true Business Fatality to put your weakest assets on the front line of your business. I will explain this in more detail below, just keep on reading!
As always I love to start with a quote, and this week’s quote I LOVE! As they say, the proof is in the pudding… You’ve heard of Wal-Mart, right? Although this retail giant may have changed its ways over the years, it was originally founded on this principle.
“The goal as a company is to have customer service that is not just the best but legendary.” – Sam Walton, Founder of Wal-Mart.
Business Circle Of Life
A business works very much like its own circle of life. Like life, there is a certain logical order to the way things should be done. The picture below shows a very basic non-detailed form of the 3 cycles to a business. 1) Develop Great Products | 2) Market & Sell Products | 3) Produce Products, then repeat. Each of the 3 cycles is very important in their own respect.
When you’re in business you probably have a great product or service that you believe in and have researched hopefully and know that it is good. You then move on to market & sell the product, a very crucial step as this is how you and your business makes money. Where I get lost are cases like what happened to me this week when a company who probably had a great product had a very inexperienced salesperson cold calling me, and totally ended up wasting my time, he did not know his product, he did not know what questions to ask me and the whole experience literally got me upset. You can imagine how thrilled I am now to refer this company to anyone else after having a disastrous phone call. Because of this experience the company did not need to produce anything.
Is Your Business Part Of This Trap?
Out of all the 3 cycles in the circle, there is only 1 that makes you money! That is Marketing and Sales. Yet most businesses will gamble on this by cutting corners and often not doing what it takes. You know if you had 10 products sold you would go out of your way to produce these products and deliver them because that is good service. However, you need to sell products in order to deliver & provide a good service.
Keep in mind that there are only 3 ways to grow a business, 1) Increase the number of customers, 2) Increase the amount they are spending, 3) Increase the number of times they come back to buy again. Keep this in mind as step 2 of the cycle revolves around this and there is no point in having a good product or producing it if you can’t market it and get it sold.
A couple of basic thoughts to keep in mind.
- Who do your new customers come in contact with when they are just discovering you for the first time? Is it the right person who is properly representing your business / product.
- How easily can a potential or existing customer get the latest information about your business and its new product?
- Do you have a process in place that keeps your customers informed and educated?
- Are you making it as easy as possible to help your client…get the information…to buy??
If you have been following all these Marketing TIPS articles I am sure that you are realizing by now that there is a lot more to a marketing plan then advertising. In business, absolutely everything matters and can make a big difference to your bottom line! Keep in my mind Your Go To Guy is here to listen and assist you.