I’ve attended quite a few meetings lately where people complain about declining sales numbers. They all seem to be focused intensely on the next tactic they can use to increase their sales. Whether a new brochure, or a new addition to their website. The problem is …simply adding a tactic will never be a long term solution!
This doesn't mean that people who are experiencing declining sales are doing so because they don’t know what they are doing. We are in the midst of the worst economic conditions of all time and unfortunately are all victims of these circumstances. I personally look at difficult financial times as an excellent opportunity for the cream-of-the-crop to rise to the top.
The best companies, not necessarily the biggest, will thrive in a challenging market.
It certainly doesn’t take a rocket scientist to realize that when companies and individuals are watching every dollar they spend, they’ll only choose to spend money with a company that they trust can deliver on the promises they are making. Companies are no longer given instant credibility due to their large size. It often seems like larger companies are run inefficiently and are teetering on the verge of closing their doors.
Smaller companies specializeing in small niche areas who focus on delivering results are the companies that will survive and thrive in any economic condition.
You may be saying, “That all sounds great, but my company is delivering results, and our sales numbers are still steadily declining. Why isn’t this specialization working for me?” Are you telling as many people as you can and providing proof?
The Internet causes consumers to be critical since they are exposed to so much information online. They can get the entire scoop on a company and its products within a few minutes of Google searching. When the Internet initially emerged, companies struggled with how to do business online while still maintaining that “personal touch.” The introduction of Web 2.0 technologies have changed our lives. Everywhere you look there are blogs, videos, online seminars and social media like Facebook, Twitter, and Google+.
If a consumer is thinking about doing business with your company chances are they’ll begin their intelligence gathering mission online. Can they find anything about your company? If not, you have probably disqualified yourself from the running. If they are finding information about you, is that information painting an accurate picture of your organization? If not, you need to take control now!
You need to earn a company’s trust and prove to them you are worthy of that trust. It isn’t about selling anymore; it is about proving you are worth doing business with.
What are you doing to prove your worth? Do you have a company Facebook fan page? Do you share successes you've helped your clients achieve? Do you “tweet” and share new articles you’ve published? Do you showcase your depth of knowledge and prove you are worthy of your prospective client’s trust?
Companies are using social media sites and social media tools, like blogs and video sharing, to show that they can deliver on the promises they are making in the marketplace. Companies are utilizing these mechanisms to provide value-added service by educating prospective clients. These strategies help develop friendships with prospects before a transaction has even been made.
Take a look at the below two companies. Think about which one would impress you more.
Company #1: This company is only five years old, very small and specialized but is highly visible on Facebook and Twitter. You’ve read their blog entries and watched videos of companies just like you, a prospective client, who were looking to achieve the exact same results you are looking to achieve. The CEOs of these companies were in the videos giving their endorsement and applauding the level of work their employees have done.
Company #2: This company is the largest in its industry, has the most tenure and has complete top-of-mind awareness. When you went online to search, their website told you about their history, their products and what an excellent management team they had. They had a few testimonials sprinkled throughout their site, using first names and a letter representing their last name. They didn’t have pictures representing these people, or company they were affiliated with.
Which company would you choose? You may be one of the “old schoolers” who still believe the largest company is the top contender for your business. Hopefully your stance is rapidly changing as you watch large company after large company close their doors. Today, being big isn’t always better.
Companies that use the Internet as a tool to better understand their buyers and deliver more value will win. Companies who build trust through social media and develop deep relationships with their customers will be the giants of tomorrow.
