Go Big or Go Home
Melanie Garza - Director of Operations
One of my favorite sayings is, “Go big or go home.” Give us your biggest challenge, and we will get it done. Undoubtedly, there are a few big targets you have your eye on. The lifetime potential of those high-value targets could change your business forever.
If we’ve learned one thing over the years, it is that it takes nearly as much time and effort to attract smaller customers as it does to attract the biggest and best. Although, most new business is good business, a few big clients can provide exponential growth and prosperity for those around you.
Why do we wait for those who we want to do business with to find us? We suggest you think deeply about your competitive position, looking at your recent successes and shortcomings. Investigate your top tier customers to determine your ideal customer profile. Next, do your research, looking for matches to that profile. Once you have this information in hand, go make friends. Spend a disproportionate amount of your sales and marketing resource proactively pursuing those organizations that you want to do business with, rather than waiting for them to find you. Choose the biggest and best. If your competitive structure doesn’t allow you to compete at that level, then ratchet down a notch or two until you can compete.
Be careful not to build too big a list. We think a manageable list is 300 – 1,000 prospects, leaning more toward the 300 for most campaigns. One of the biggest challenges of business growth, besides the lack of an ideal customer profile, is the size of the list. Most organizations cannot make friends with 10,000 prospects. In trying to do so, they get frustrated and often times get discouraged and shut down or circumvent the effort.
Sometimes the big fish is an existing customer. Review your top tier customers and determine your current share of wallet, then set goals that can be supported by a specific plan for each. Whether it’s different divisions, locations or opportunities for new products or services, work toward improving your share.
As you’re completing your work, making friends with these high-value targets, there are a few things we’d like you to think about. Before you start your work, build a structure that will help you organize these complex buying systems. Your goal should be to identify key buying influences, their feeling about your solution, ability to influence the decision and their final support for you and your organization. Basically, you’re building a buying system profile.
As Mark explained last month in We Tried That and it Didn’t Work, “Some things do come easy, happen quickly, are obvious and create immediate gratification, but they are not very often the important, strategic, and most meaningful outcomes.” Be sure in your Go Big or Go Home strategy that you don’t go home to quickly. Larger buying systems take longer to develop. This is often why these larger systems are not cracked – most lose interest or focus before the system is ready to buy. For those who are persistent and intend to be a quality supplier to larger buying systems, going big is best.
I encourage you to think about your large account strategy and contact me directly if you would like to have a further discussion at firstname.lastname@example.org or (866)646-4400.