5 Ways to Manage Success for Your Business
Finding success in your business doesn’t just happen. You need a plan that puts the right strategies in place and takes educated steps that can help you achieve your goals. Creating this kind of long term plan that manages and builds success can feel intimidating, that’s why we sat down with business growth expert, Mark Richardson, to discover how to put a plan in place. Here are 5 ways to manage success for your business to see continued growth.
1. Learn to Control Your Message
What you say and how you say it are vitally important. If people don’t understand or identify with your message, it’s like sailing into a headwind - you aren’t going to get very far. By looking at marketing trends and adjusting your message, you can target your clients more effectively. Three things to look at when developing your message are:
- Consumer Fear: Clients tend to have fears that can hinder them from making a purchase. These typically stem from economic factors, like interest rates, employment rates or the stock market. Your messaging should focus on addressing those fears by being empathetic in your messaging. Think about it this way, if you're nervous about the economy and the stock market, your clients probably are too. Speaking to consumer fear in your messaging can encourage trust-building which can get people to buy your product or service.
- Use Data Not Emotion: Using data to stear the conversation is a great way to manage the issue of consumer fear. With hard data, consumers can make decisions based on facts rather than their conflicting emotions. Plus, consumers often remember data more than a high-energy sales pitch from a rep.
- Address Objections Early: Be proactive in addressing common client objections. They might think that if they wait until next year to buy it will save them money or maybe they have a misconception about how long the project will take. By being proactive about their objections and addressing them before they have a chance to change their mind, you’ll avoid issues later on and your clients will be much happier.
2. Perfect Your Marketing
Marketing is an essential part of building a successful business, but it’s commonly overlooked. Here are three key elements to manage success by perfecting your marketing efforts:
- Think of Marketing Spend Like Calories: You can look at your marketing efforts in terms of food and calories. The more calories you take in, the more energy you’ll have. The same is true with marketing - when you invest in marketing, the more business you’re likely to draw. But just like food, having too much isn’t always the answer. Consider your target market and where they spend their time before investing in ads or other marketing efforts.
- Focus on Your Prospects: Spending some marketing energy on your lost-deal prospects can build success as well. Lost-deal prospects are people who were interested but didn’t proceed with you in the past. Even if the prospect doesn’t complete a deal, they are often more likely to provide you referrals than those from your current client base.
- Balance High Touch with High Tech: An important piece of marketing is finding the right balance of high-tech and high touch. If you’re only sending out email blasts, social media posts or webinar invites, you’re missing that balance. Consider adding human touches to your touch-points like phone calls or personal texts. When you combine high touch and high tech, you’ll start to see that you’re getting more leads, which will translate into more success.
3. Teach Your Sales Team to Sell
It may sound obvious, but you won’t be successful if you can’t sell. To manage success for your business, you need to equip your sales team with tools and training that support them. At the end of the day, you want your reps to feel successful at:
- Building Deeper Relationships: To manage sales success, you need to build deeper relationships with your clients. This might mean meeting with them more frequently or for longer periods. Typically, the more time you spend with a client, the better results you’ll see. This is because you can better address their fears and nervousness by developing a relationship with them. Remember, your job isn’t to sell to them, it’s to help them buy a solution to their problem.
- Selling Down, Not Up: An important part of managing success is to sell down, not up. Research shows that clients are more apt to buy if you allow them to step down a bit in what they’re purchasing. Rather than trying to add more products to a sale, consider what your customer’s budget is. Showing them ways they can save money can build trust and help close the deal.
4. Use Technology to Your Advantage
Technology has and will continue to revolutionize all types of business and should be an integral part of your business. This extends to the way you present your sales pitch. You need a presentation platform that uses technology to simplify the pitch, track how long reps are pitching and offer rich analytics to understand what parts of the presentation are successful and what areas need editing.
Outside of presentation software, CRMs, financing tools and messaging platforms are other great technologies you want to pay attention to. But, don’t get caught up in all the bells and whistles of a new platform. Remember to keep your customer front of mind and ensure that whatever tech you implement is actually supporting them.
5. Align Your Team
Your team is your greatest asset. The more you invest in them, the more successful you’ll be. It’s essential that you scout the right talent for your business and encourage them to achieve high goals through regular team-building meetings and honest conversations about objectives.
When your team is happy, they’re motivated, and motivation is key to managing success for your business. One way to keep a team happy is to build a solid company culture that has a good work-life balance and supports individual growth. The best companies have cultures that are not just project-focused, but client-centric and open to change. Instilling these key elements in your team is a recipe for success.
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