Master The Power of Business Introductions
By Know My Business AU In KMB Blog On February 28, 2015
We live in world where we can quickly build our networks at the click of a button in LinkedIn and Facebook or follow someone on Twitter. The information superhighway (a.k.a. the Internet) has changed our lives to give us all as consumers and businesses access to information we never had. Even our Federal Governments have a substantial focus on the Digital Economy and how we should be adapting our businesses.
However an execution strategy that suddenly becomes highly effective in the ever-growing Ocean of Online is mastering the power of business introductions. Remember this from the on set; it’s not about selling but understanding what’s relevant and of value to your business prospects. In marketing it’s referred as the Value Proposition and this article will give you pointers in putting it together and using it to lead to effective and meaningful business introductions.
So lets list the steps to meet prospects that are more likely to convert to customers:
- Define the Value Proposition
- Do your Research / Know Your Target
- Make the Introduction
- Meet Face to Face
1. Define the Value Proposition*
Take time to consider your background, and that of your company. A short story, tells others the journey you took. It doesn’t matter if you’re a startup or been in business 30 years. List out what makes your business unique and what would be of value to others. This may be providing better service, your reputation or being more available than the competition. Think about the relevance of what you are offering by way of a product or service to the other party. No one ever needs everything you can sell, so consider what your prospect typically needs to deliver his or her own product or service.
*If you’d like a FREE Value Proposition Template please submit the form http://www.knowmybusiness.com.au/contact-us/ mentioning the template.
2. Do Your Research / Know Your Target
Check that there is a demand within a particular type of client – your ideal client. An easy way to do this is consider who are your best customers and talk to them on why they do business with you. Alternatively you can identify prospects that are similar by doing your own research on the Internet. A number of resources are available depending on your level of investigation, however most companies have a website or are listed in various directories (e.g. Truelocal, Google etc). Take time to understand how your product or service fits the delivery of their own capabilities. A key term to remember at this stage is relevance. Relevance can relate to uniqueness, but is primarily around how important your organisation, as well as your product or service, can be to them. Save yourself time, if you can’t define this with your targeted businesses, go back and review your value proposition.
3. Make The Introduction
Pick up the phone and within 1-2 minutes talk about the relevance of the call. This applies whether you got straight through to the CEO or the front desk receptionist. Consider your tone of voice as the receptionist doesn’t need to know how well you’re suited to deliver a capability, but a CEO would. No matter what, don’t sell, but offer up an opportunity to discuss further at another more convenient time. If you did your research well and spoke effectively, they will respond.
4. Meet Face to Face
Again this is not an opportunity to sell, but more so to know the other business’s value proposition. We are all in business so get to know their business and operation. Get to know their story. Talk to them about their current challenges and opportunities. If you see you can deliver to their goals, only then make reference to what you do. Don’t force the solution to them, but let them figure it out themselves on how it could work. If you’re talking to true decision makers and good leaders, they will take action.