This basic question reverberates in my mind frequently, as just about everyone is concerned with business growth. But other than the common resource challenges (human and financial), competition, and “needing more customers,” why is growing a business so difficult?
Sometimes the Answer is Simpler Than It Seems
I heard 38 Special’s song, “Hold on Loosely” the other day, and the chorus kind of says it all, “Hold on loosely, but don’t let go / If you cling too tightly, you’re going to lose control.”
Say what? 38 Special was talking about business growth? Well, no… but, maybe we just try too damn hard to “sell” somebody. Maybe we’re clinging so tightly to revenue goals and growth objectives that we’re alienating prospects and pushing people away. How we attempt to control a situation can produce the opposite results of what we are trying to achieve.
Customer Experience Begets Business Growth
Think about it: the last time you were pondering a purchase that required even a small amount of consideration, what did you do?
It is likely that you:
- Googled information on the problem you were having or solution you were seeking
- Asked family or friends for recommendations or referrals
- Contacted a company directly (website, phone, email, chat) for more information about a product or solution
The point is that you initiated the process, and began a “self-serve” process of becoming educated. You began your “Customer Experience.” Mostly likely, you were not seeking to be “sold” or “marketed”. I am a marketer, and must remind myself often that most people do not want to be “sold,” or overtly “marketed.”
So, are we seeking business growth to the point that we are trying too hard to “sell,” “market,” and “convert”? Are we “gripping too tightly” in our efforts to meet revenue numbers and growth goals…causing us to “lose control”?
Business Growth: Learning as Marketing
What if we flip the thing on its head and take the un-selling/un-marketing approach, and simply educate people? Would you rather learn something or be marketed to? Would you rather learn or be “closed”? Would you rather be “held loosely” or “gripped tightly” by a company vying for your business?
In today’s hyper-competitive world, just about every product or service is a commodity. Competitive offerings and substitutes abound; literally, it is a buyer’s market in just about every category. So, how can businesses – particularly, small businesses – differentiate their brand, grow their customer bases, and best their competition? Teach.
Relationships are a two-way street. Give and take. Meaningful relationships require a time investment, emotional investment, mutual respect, and a reciprocal learning process, among others. So, why do we think a customer relationship is any different? Why do we shortcut a great “customer experience” by simply trying to sell someone a product without educating them first and building a relationship that begins with respect and trust? Doesn’t business growth seem more probable if we work on creating relationships with the people to whom we are selling?
How You Look Business Growth
Recently, I taught an Intro to Marketing Communications course at Webster University here in St. Louis, and introduced the concept of “Inbound Marketing” to 23 Communications students. We had already covered advertising, promotion, and integrated marketing communications, and the largely intrusive manner companies have employed to market and communicate over the last 100 years.
It is a completely different thought process when you talk about leading the proverbial “horse to water” vs. prodding the horse with a sharp stick. And no, I’m not implying customers are horses.
We discussed the tenets of inbound marketing and the differences between attracting prospects versus pushing out messages; nurturing prospects through their “customer journey” versus rushing to get a “sale”; and how value-added content can educate prospects, build trust, and differentiate a brand.
When I asked the class what they thought about “inbound marketing,” and how it was different than just talking “at” or “to” prospects and customers, their insights were telling:
- “It seems more respectable…and less salesy…”
- “Companies that do this have more integrity…”
- “It looks better for the company and they will probably get more business…”
- “Customers want to do business with cool companies…they don’t want a hard sell…”
- “It’s a much better reflection on the company…”
Ah. The student is the teacher.
What Can We Learn from Teaching?
If a company is willing to create content that teaches you about something so you can make an informed decision, isn’t it likely that you would reward them for that information?
Isn’t it likely that consciously or subconsciously, you would have some allegiance to the company that helped you learn as much as you needed to know to ultimately make a purchase?
And isn’t it likely that you would have a “position” in your mind that the company that educated you, demonstrating expertise and authority, probably offers a great product or service…maybe even the best product or service?
Doesn’t this really make sense?
Learning is empowering. Teaching is giving. Education requires vulnerability and trust. A result is reciprocity.
The Rule of Reciprocity
In psychology, the “Rule of Reciprocity” states that when someone performs a nice deed for another, the recipient will have a deep-rooted psychological urge to do something nice in return. It is common for a recipient to return the favor with a gesture far more generous than the original good deed.*
Duh. Isn’t this exactly what Marketing and Sales wants?
Or do we just want what we want when we want it? Are we really concerned about the Customer and the Customer Experience? Or do we just want a sale?
The Truth Does Hurt
As Marketing and Sales professionals, we don’t want to hear this, but from a prospect’s point of view:
- Being “marketed to” is opportunistic.
- Being “advertised to” is intrusive.
- Being “sold” is negative.
- Being “closed” is pushy.
So, knowing prospects feel like this, why do we continue to forge a path of brute force, intrusion, and potential alienation to reach our goals and numbers?
Sticky Note: An Enlightened Era of Marketing
Approximately 64% of all web visits start with a search. We literally have the world’s information at our fingertips. This path to purchase (there we go again, ”…sell, sell, sell!”) is started by the prospect who begins researching a product, problem, or solution.
In most cases, there are gazillion resources on the web, and myriad companies hawking their wares. But how many companies are really educating prospects? How many have invested in content that helps their prospects and customers learn? How many are truly interested in teaching to establish that reciprocal relationship based on trust and respect?
What about your company?
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