In The Upside of Stress, Dr. Kelly McGonigal showcases research on the power of mindset to affect outcomes. Those with a negative mindset toward stress experience much different results than those with a positive mindset toward stress. It turns out that mindset towards stress affects happiness, effectiveness, and even personal longevity.
What we think about things matters. When it comes to stress, surprising research shows that it's not stress that is killing people, it’s the “combination of stress and belief that stress is harmful.” In essence, stress can be good or bad depending on what you believe about stress.
What if we took this same line of thought about mindset and applied it to growing revenue? What if what we believe about marketing and sales affects our results.
What if what we believe about marketing and sales affects our results?
How does mindset affect revenue growth? Here are some thoughts.
Why do some buyers enthusiastically say yes to your offer while others simply shrug off your proposals? Why do many of your customers buy one of your products but seem to ignore your cross-sell efforts?
Part of the answer can be found in Clay Christensen’s “jobs to be done” theory. (See Marketing Malpractice: The Cause and The Cure) Clay believed that buyers don’t buy products and services. Instead, they “hire” products and services to do jobs that need to be done.
In Revenue Growth Engine I share a similar belief that buyers don’t buy products and services, they buy the outcome(s) the products and services enable.
When you understand the outcome your client wants (the job they want done) you become much more relevant.
1. Focus Your Message
The world is noisy. Every buyer is subjected to thousands of messages each day. As a result, we all have elaborate filters in place. The only things that get through our filter are messages around the...
When faced with a price increase, clients may feel backed into a corner with only two options. One option is to take the price increase, sacrificing somewhere else in their budget. The other option is to stop buying from you and either forego the service or go through the hassle of finding another vendor.
Price increases typically create a “yes” or “no” scenario. Instead, what if you offered a third fallback option that was a scaled back version of your service?
Your fallback option could be lower-cost package with fewer benefits for your clients that are not willing to accept the price increase. You win because you keep the client. The client wins because they get to save money while keeping pieces of your offering.
The good news is that your fallback option not only can preserve revenue, it may also be able to preserve your profits. Done correctly, it may also create a strategy to go after your competition and get marketshare.
Here are a few things to...
“Predictability and consistency are the unsexy keys to overall improvement.”
Jason VanCamp and the Mission Six Zero Team
Fellow sales professionals and entrepreneurs, I wish there were a magic pill. I wish there were some programs you could enroll in, some conferences you could attend, some hot new tactics you could adopt…
As Jason VanCamp says above, it's the boring things that get you where you want to go.
High performing sales professionals are predictable and consistent in these five areas:
Fanatical Prospecting author, Jeb Blount puts it very plainly: “The number one reason for empty pipelines is failure to prospect.” There are simply no excuses here. Block the time. Make it a priority each day. Hit your number without cheating. Do it.
Hang out with me for a few minutes and you’ll discover I’m passionate about the low-hanging fruit of cross-sell revenue. You need to...
Increasing costs require many businesses to raise prices. Rather than just raise prices, what if you could take a strategic approach to cost increases? Following are ideas to get you thinking creatively about how you could handle this challenging situation.
First, consider if you are a core supplier or a vendor.
You are a core supplier if you are a key partner to your customers. You show up on their profit and loss statement as a cost of goods sold. Your offering is key to their success. An example might be a materials supplier to a manufacturer. You are critical to their business operations but you might also sell a commodity that is easy to replace.
You are a vendor if you provide something that is not a core part of the business. For example, you provide office equipment or bookkeeping service. You show up on their profit and loss statement as an overhead expense. In some cases, your offering may be optional or easily replaced. It’s not...
There is a huge disconnect in sales that costs companies and their sales reps millions of dollars a year. On one hand, we know that all high-performance leaders invest in their teams with training and coaching. On the other hand, sales leaders notoriously say, “We don’t have time for training.”
Imagine if the general manager of your favorite sports team called a press conference to announce the plan for the next season. “I’m proud to announce that we have attracted the best players to our team. They know what they are doing. They are top performers. So, we’ve decided that having coaches is a distraction to them. To keep them focused on what they are supposed to be doing, we’ve eliminated our coaching staff.”
If I heard that from my favorite team, I’d be livid. I know that the best athletes need training and coaching to become better. In fact, the best athletes are always attracted to the team that has the best coaching programs....
Without oil and grease the most beautiful sports-car with the most powerful engine will not make it out of the garage. Oil and grease reduce friction, allowing the cylinders to fire and the wheels to turn.
Business is the same way. Without the right oil and grease, your Revenue Growth Engine® comes to a grinding halt.
What are the oil and grease every business needs? Trust and loyalty.
Trust removes the friction for deciding to become a client. Loyalty removes the friction for continuing to be a client.
The #1 challenge of executives, sales professionals, and marketers in the next decade will be building trust and sustaining loyalty.
Let’s explore how trust and loyalty connect to business results.
To grow net-new business we must develop enough trust for buyers to approve the first order. However, trust is at an all-time low.
In 2021, Edelman’s Trust Barometer showed that the trust bubble had burst, putting...
The most important role of marketing and sales is to pay attention to the outcomes that prospective clients want. This is also the most neglected part of the marketing and sales role. Now, more than ever, marketing and salespeople must be listening and adapting.
Clay Christensen and Bob Moesta assert that customers don’t buy our products or services. Instead, they hire our products and services for a job to be done. In Revenue Growth Engine, I say that buyers don’t buy products, they buy the outcomes the products enable.
Great companies have an intimate understanding of the jobs that prospects are hiring products to do. The most effective marketing and sales focus on the outcomes, not the product. Outcomes are driven by business goals and the problems that keep clients from achieving them.
As the economy shifts, the problems our prospects encounter may shift. We may be selling the same product as we sold last year, but the reason prospects buy the...