Is it possible to have such business? Is it feasible?
I have been thinking about this lately and here is
my take on it.
Everything In Business (Resources)!
Everything (all resources) has its own use, place,
specific purpose and when used properly, smartly according to its specific
purpose, it delivers.
But when used otherwise, it results in certain
weaknesses, for instance improper or ineffective use of R&D resources can
result in poor product quality, poor design
consequently product failure, customer dissatisfaction, shrinking profits,
market share etc.
Now considering the above point, if you want to have
a business without any or minimum weaknesses you need to cover all such
weaknesses and for that you need to know the right, proper utilization of all
your business resources.
So you are planning to use mailing lists (direct marketing approach) for some or all of your products/services
but you are wondering about the mailing lists, you are confused rather you have no
idea which type of mailing list would deliver, would get you the maximum sales leads.
Well it’s not such a big problem; yes! not a big problem
unless you don’t know ;), so today I would give you an easy approach to create mailing
lists that will surely deliver maximum.
The approach I am going to discuss with you guys is not
ordinary, normal approach of making mailing lists by asking potential
customers, buying mailing lists from third parties or capturing addresses of
people from here and there and then bombarding them with your mails.
The idea is, your mail should connect, resonate with your
potential clients/customers if it doesn’t then it would be waste of time and
resources, right ?! and frustration!
About 64% of customers (in the US) consider lower quality to
be the major cause of dissatisfaction (1).
Considering that fact, it is imperative for small medium business owners to seriously consider quality. 64% customers is a big number
and given the competition such a number can wreck havoc on your business.
Now in my opinion the most important question is what the best practices are when it comes to
quality, specific business and how can one identify them. That’s the most
important question of all in my opinion.
If you don’t know what are the best practices or should
be the best practices in a given business situation or specific business then
you won’t be able achieve what you want to achieve when it comes to quality.
In present day
market, where customers have far more choices to choose from due to extreme
homogeneity, consider the facts that over one million businesses starts in the
united states alone each year (114 each hour) that excludes online start-ups (1)(2).
And out of those one million around 134,139 patents
are issued roughly to the same number of businesses while the rest of the
businesses are essentially “Me-Too’s (product/service)” numbering around
866,000 businesses (3).
Similarly there were around 125 million SME's world
wide in 132 economies back in 2010 (4). And in my opinion majority of these
businesses are “Me-Too’s (product/service)” too, considering the fact that nearly
50 percent of new products introduced in the market are complete failures and
more than 70 percent do not reach their sales goals (5).
This has resulted
in extreme homogeneity in products/services, extreme competition in the present
day market and excessive number of options to choose from (for customers).
Customer data (CD) is being used daily in almost any
business. For instance Managers utilize CD to devise strategies, for market segmentation, to serve customers, to cross sell, to retain customers, to identify new
needs, to provide customized products, to forecast demand, to foster relationships
as we all know that without customer data relationship marketing is futile so
on and so forth, so today I am going to give you guys a totally new approach to
What I mean by new approach is, that this time you
are going to give back the CD to your customers, yep, you heard it right! This
time you have to let the customers become the managers to decide, take
decisions about your brand, products/services.
I won’t go
into details of why direct marketing in b2b makes more sense as most of you
guys who are reading this probably know that already.
move to the main purpose of this article, “How
to convince your target business effectively”, well it’s easy, yeah easy!
if you know how to do it the right way and if you don’t well I am going to
share my approach that would help you to do it the right way, hopefully.
convince your target business, to cut a deal, you need two things.