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Jul 06

I had an interesting discussion with a client recently debating the ideal approach for a cold call presenting a new product to a targeted group of potential customers.

The debate stemmed from the positioning of a value proposition within the call, and the depth to which we need to probe, profile and analyze needs before making a presentation of said new product.

I’m a big proponent of the SPIN Selling methodologies, and firmly beleive in the adage that people value information they ask for more than information they don’t ask for.  Especially in the world of a complex sale.  Conversely, in highly commoditized products or relatively simple sales a more transactional model can work.  And we see this in spades in the B2C space.

In the context of my recent debate, my client clearly had  a better mousetrap.  These mousetraps have existed for years.  The vast majority of customers large and small are generally accustomed to hearing about mousetraps.  A significant portion of my client’s business is in mousetraps, along with mousetrap parts, service, accessories, and a vast variety of cheeses.  I’m taking the mousetrap analogy too far.

Product Maturity or Buyer Maturity? A Better Mousetrap.

Given the mousetrap’s maturity, my client’s prescribed approach was to follow a traditional transactional method, where we focus on highlighting the competitive differentiators and advantages of the new and improved mousetrap.  Essentially, go in, show off the new mousetrap, and point to the bells and whistles.

At first, this approach seemed logical given the relative simplicity of the product and the general level of familiarity with the type of solution.  And in truth, the product/feature approach is all-too-common in other similar product pitches.  But something didn’t sit right with me.  The entire approach seemed based on the maturity of product, rather than of the customers themselves.  The product-focus completely essentially discounts or ignores the potential customer’s perspective.

How does this product-driven approach work for those who’ve never had issues with mice?  If the whole idea of a mousetrap is meaningless to them, what value are we brining in talking about the next best thing in mousetraps?  For net-new mousetrap consumers, a product-driven approach only creates intrusion, nuissance and frustration.

Shouldn’t we be considering the maturity of the individual buyers themselves first, regarless of where the product sits in its grand lifecycle?

Feb 06

250px-lost_title_cardJust in case you’ve been living under a rock…

LOST is an American serial drama television series. It follows the lives of plane crash survivors on a mysterious tropical island, after a commercial passenger jet flying between Sydney, Australia and Los Angeles, United States crashes somewhere in the South Pacific. For its first three seasons each episode typically featured a primary storyline on the island as well as a secondary storyline from a previous point in a character’s life, though the introduction of shifts forward in time and other time-related plot devices changed this formula somewhat in later seasons. The pilot episode was first broadcast on September 22, 2004 and since then four full seasons have aired, with the fifth currently in progress. The show airs on the ABC Network in the United States, as well as on regional networks in many other countries.” (Wikipedia)

For me, LOST is somewhere in the realm between guilty pleasure and outright obsession. When it first aired, I couldn’t be bothered to watch, and even as buzz started to build up and water-cooler-conversation ran rampant, I refused to allow myself to be pulled into the abyss.  At least at first.  When ABC’s Lost was in its infancy, I too had a beautiful newborn baby to tend to… and to clean up after, and to lose sleep to, etc…

Needless to say, I was very selective in my TV choices, and all else that involved “free” time.
But eventually, I had to cave it. It was destined to happen… and I mean that more than just as a tongue-in-cheek reference to the recurring “destiny” theme on the show.

For years, my wife and I had abstained from paying for cable.  Really, the non-cable idea was as much a personal decision as it was a financial one at the time. We didn’t want to have the television as the focal point of the home and at the time were more interested in movies and film as a pastime – rather than throwing on whatever happened to be on to pass the time at a fixed monthly cost with very little perceived value.  (That is of course until a new HDTV finally justified the need “premium content”.  And as an aside, Hockey Night in Canada has never been the same since, and I appreciate every minute of it)

And so, at the time, I was left with a very small number of options… and it was merely a matter of time before I was “stuck” watching an episode of LOST… and found myself drawn in.

And that’s the very point.

As marketers, when we’re reaching out to new prospects, the goal is more than just making contact. We need to draw them in.

We need to grab their attention, keep it, and drive them towards the next step in the funnel, all with the hopes of building and maintaining a fruitful customer relationship.

Capture. Captivate. Compel. Cultivate.


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Dec 28

A newly established strategic partnership with Hugh Macfarlane, author of “The Leaky Funnel” and his organization - MathMarketing - presented me with a new piece of reading material over the holidays… that didn’t come from Santa. 

For me, the first steps in this new relationship consist of a funnel management workshop (lovingly referred to as Funnel Camp) in January, as well as a first read of “The Leaky Funnel” over the holidays to get familiar with the philosophy and any intricacies or nuances that may differ from or may complement our/my own.

As a synopsis, The Leaky Funnel aims to provide a better understanding of what’s required to change a company to adapt to a modern customer-focused world, and speaks to one of the most critical issues in any sales business - managing the funnel.

While I’ve just completed the first of the proposed “blocks” of reading, I felt it worthwhile to put a few of my first impressions down on paper…if for no other reason, to help me reflect and absorb.

While the book is business book, it goes about it in a very very different way. It’s like self-help fiction. A parable or allegory, almost.

The key messages are told through a ficticious tale of a customer-turned-CEO, leading her former vendor through a business transformation centered on customer experience and value-chain optimization.

Throughout we meet the usual suspects (finance, manufacturing, sales, marketing, distribution, customers) and their perceptions on the business challenges and potential solutions.

It makes for an interesting way to impress a business concept on an audience. I can’t think of another business book that has a narrative in the realm of fiction. Tres cool.

But at that, I can see how this style may not lead to as broad an appeal. It certainly isn’t for everyone.

For an avid reader of business and sales training content, it took some time to adjust to the notion of a fairy tale for business. I’m sure the intent isn’t to make light of the subject matter or to make the positive outcomes seem pie-eyed or optimistic and out of reach… But I’m sure other readers may leap to that conclusion as well.

Regardless, the narrative is fairly well done, and though the characters may be somehat stiff or even stereotypical, it makes it easy for readers to relate it to their own professional lives.

In any case, I’m sure my judgements may be entirely unfair, as I’m but a third of the way through the book at this point, but again, these are my own first impressions after having just put it down.

I have every intention of following this up as I make my way through this interesting tale, sharing any other thoughts, impressions or nuggets of wisdom that I can.

Food for thought.

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