Productization is the process of taking a skill or service that has been used internally and developing it into a standard, fully-tested, packaged, and marketed product. It results in a cohesive, repeatable offering or set of offerings that solve a business problem for your customers. The offerings can be created to accommodate a degree of customization to make them even…
Peter Drucker once said that “The greatest danger in times of turbulence is not the turbulence; it is to act with yesterday’s logic.” Drucker could not possibly have envisioned the turbulence we are experiencing today, yet his words are very applicable. If you have not started to strategically examine and realign your marketing, you might want to do so now.…
Lead generation is killing your business. Yes, you read that right. It’s true. Here’s how, and what to do about it. Lead generation is a reactive process for finding prospective buyers, creating a relationship, and converting as many as possible to customers. It relies on knowing that someone already has a pain point that your offerings can solve. And that…
Recent studies have shown that a focus on lead generation reduces the effectiveness of marketing efforts for all sizes of company, across all industries. That may seem counterintuitive, but it’s true. To generate closed and repeat business, it is essential to prioritize developing relationships and authentically representing the brand. A catchy or slick campaign, great lead magnet, or memorable elevator…
Many smaller companies developed their offerings when the company first opened. But they don’t always revisit their products on a routine basis, and they are not necessarily as engaged in product improvement as they need to be. In the competitive markets we find ourselves in today, it’s important to keep pace with shifts in the market and changes that may…
Every company is currently trying to find creative ways to do more with less due to inflation, which is driving up fixed costs and causing disruptions to cash flow. Cost-cutting actions are being recommended by most advisors and many companies are following that advice. One area that is frequently targeted for cost-cutting is marketing, but that can sometimes lead to…
Are you using a Customer Relationship Management application (CRM) to enhance your sales and increase your revenue? CRMs are designed to automate the sales process, not just record it. If your CRM is not helping to refine your targeting, reduce manual effort, shorten your sales cycle, and increase your close rate, you might have the wrong CRM, or you may…
It never ceases to amaze me how much potential revenue small businesses are leaving on the table without realizing it. Small business leaders are not unintelligent, but, as humans, we don’t know what we don’t know, and that has a big impact on the pace of growth of your business. It’s also a great reason to reach out to a…
So many people are giving advice about how to generate more leads and close more sales these days, but I rarely see anyone talking about how to make sure that the customers you have stay until they are naturally ready to move on, or get them to make referrals to your company. This is crucial for growing your revenue. Customers…
As a small business owner, you have limited time, and you need as much of that time as possible to grow and improve your business. But you also have limited financial resources, which you need to use wisely, so hiring staff may not be possible. Many small business owners try to keep their expenses in check by taking a “Do…