Business as usual today is a risky business. As entrepreneurs and business owners, our potential clients have so many choices these days. The Internet makes it easy for anyone to educate themselves about various alternatives available. Did you know that 70% of the buyer’s journey happens BEFORE a client even talks to a potential seller?
That means that someone interested in buying a product would research online and most likely even make up their mind on the product or service to buy, without the seller knowing anything. … Which means that it’s becoming increasingly difficult to be the preferred choice for your preferred clients.
This is valid even if you sell a physical product, because even though not everyone will buy online, almost everybody researches online, reads reviews, looks for discounts and information, all of these online. If most of the potential customers are online, how come so many small businesses are still reluctant to make the best use of the internet to reach these people?
There are many possible answers:
- The power of “business as usual” or what we see others around us doing, especially for those businesses starting up
- An apparent lack of resources and information about what it means to generate business online.
Companies that understand the new rules of business are thriving. The ones that are stuck in their old business-as-usual-habits need miracles to survive. Do you realize that 30% of American GDP comes from companies that didn’t exist 30 years ago? Look at Google, Amazon, Facebook, eBay, Uber, Airbnb. You name it!
Guess as a tech company, you want to make it to this list in the near future… You know that the Internet and technology enable us to do much more than before, and you clearly are using technology to bring a new solution into the market. But are you using the power of the internet to MARKET your solution? The business game has changed and simply having your tech company on a beta testing platform is no longer enough.
Your Business and the New Economy
Now, let’s talk about your business! Guess you want to be the next Uber rather than just another taxi company… Booking.com rather than just another travel agency… Apple rather than Blackberry… All the companies that position themselves at the losing end of these pairs have one thing in common: their strong persistence in doing business the old way – disregarding the impact of the new Internet-driven economy.
According to futurist Gerd Leonhard, 50% of our habits today (i.e. what we do in life on a regular basis) will disappear or will be replaced within the next 5 years. Guess you are contributing to this change with your own tech company.
You clearly use technology to develop a wonderful product. The question is however how much are you using technology and the Internet to attract customers to buy your solution? Run this quick reality check answering 5 simple questions:
- Do you still think you can get away with an old-school selling style based on cold calls?
- Do you believe Facebook is just for fun but not for business, and you don’t need to be present on social media?
- Do you rely on your product selling itself without creating interest online for your offer?
- Do you still rely on traditional sales and advertising methods and neglect your customers’ new habits and the fact they find everything online?
- Do you think your clients care only about the quality of your services and not about you as a person, with your values, beliefs and life purpose?
If you answered “Yes” to any of these questions bad news might be coming your way. There is a good chance that you could be the next Blackberry or Nokia… if you even had a business… In case you are starting up, you may never get to be the next multi-million dollar company!
You may say “I am so good with technology, look at this amazing solution that I’ve created. I know it all…”. You may know it all in terms of tech, which is great! But this is not all. You can grow your company exponentially by adapting to your users, their behavior and requirements in the new economy.
Discover the New Rules of the Business Game
- Create interest in your products instead of just trying to sell them
You can do this by first providing value to your potential client, solving their problems, and only introducing your solution after your potential client has been through some of your content, and got some help from you.
The effective way of creating interest for your products is by building an online sales funnel, which is an online marketing system that generates leads (attracts potential clients) by providing value and helping them first. You can further use such sales funnel to convert your cold leads into warm prospects and from warm prospects into hot potential clients.
- Sell human-to-human rather than business-to-business or business-to-consumer
People have always bought based on trust and respect. The difference today is that you don’t need to meet your potential clients several times to build a trusted relationship. You can do all of that online, automatically.
We live in a world where we don’t talk about B2B or B2C businesses. People want to do business with people, this is why human-to-human (H2H) is the future. This means it is absolutely crucial for YOU, as the business owner, even if you don’t have a team just yet, to develop your own PERSONAL BRAND. You have to position yourself as the expert in your field and be known for what you do. In today’s economy it’s easier and cheaper to build your personal brand and pass the shine back to your company, than to invest loads of money in marketing your company.
Regardless of what you sell, you can, and SHOULD, be the expert in your niche. Because your solution is based on YOUR knowledge. Share that knowledge with your potential clients and help them BEFORE offering them your solution. It’s YOUR time to become the CELEBRITY in your niche. I am not talking about Lady Gaga or Madonna here, but more like a good doctor – only known by those in need. People want to deal with experts, because your prospects and customers want to know the face of the company they are dealing with.
- Be proactive to what the market wants and test everything
In the past, companies used to produce, and then find someone to buy, and adjust their output if they couldn’t sell. The approach was REACTIVE. Whereas now, the approach is PROACTIVE, where those who are successful ANTICIPATE what the market wants, based on the problems identified with the potential clients. And produce accordingly.
What are you doing?
As a tech company, you have obviously anticipated where the world is going. What you need to do next is to clarify what you offer and test it in your market BEFORE building your solution. Only when you have the confirmation from some of your potential clients that they want that, start building and marketing it. It is crucial not to wait to have the product ready so you begin looking for clients.
The next step is to discover who your best clients are so you can focus ONLY on them. This immediately stops you from feeling overwhelmed, stressed, and avoiding extra work because you’re laser-focused purely on the people who will happily pay you!
Ready now to take a shortcut to the new economy & design the business you dream of? Then check out the Business by DesignTM Program to understand how can you grow your business faster online. Join the program to get access to a series of videos, workbooks, step-by-step guides, templates, blueprints, formulas, checklists & more, as well as customized mentorship to fit your development needs.