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January, 2003

 So, the big question that comes to mind as we all embark on another potentially challenging year is: who is left standing and how did they manage it?  In our December 2002 newsletter, we talked about the things we’d learned over the past year.  One of the key beliefs that we had was that “those who wait get left behind.”  Hunkering down and waiting for this economy to shift in the right direction has been, and may continue to be, the demise of many organizations. Also, continuing to cut marketing budgets or to shift marketing dollars to pure business development/ sales activities is still problematic in the long run.  Sustainable sales streams are driven by crafting a solid value proposition that is tailor made for a specific customer set and demonstrating that you know that market cold.  Sales organizations need this investment of knowledge to hit consistent home runs.

So what do we do?

n       Be crystal clear on what your market targets are.  Make sure that you are very very focused on the right targets, and that everyone in your organization not only knows what they are but understands what their business drivers and customer satisfaction needs are.  Time to finish your homework on refining your market segments – driven by laser focused vertical market research knowledge.

n       Be mindful in the target and deal choices you make, rather than just opportunistic.  Cash flow is important, but the decisions you make now need to fit into a larger picture.  You can harvest low-hanging fruit (if you can find any!) to the point of losing your organization’s true market focus.  It’s about sustainability.

n       Focus on building real referrals.  This isn’t about “can I use your name?” but really building a sense of trust between you and your referral sources – customers, partners, and colleagues.  Referrals that work are personal and provide value to both participants involved (the one that refers and the one being referred). What’s your referral strategy in 2003?  Make sure you have one and that it’s actionable.  Make sure you have a value proposition for your referral sources that connects them to you.  What is in it for them?  They are a core piece of your sales audience.

We believe that the turn around is up to you.  Turn yourself around. Be laser focused.  Be clear on where you’re headed, who your target is, and what their issues are.  Speak in their language, not your own.  Get smart by doing your homework.  Get personal – it’s about real relationship building.  We stand ready to help you take the right steps.

Regards,

Lisa

Lisa Dennis

President, Knowledgence Associates

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