During one of my business development days in Zurich a few weeks ago, I met with an old friend and colleague. We used to work together.
He is one of the best sales people I have ever met. He loves selling.
He told me about taking over a new business as the CEO two years ago and growing it to 15 employees with operations in Switzerland and Germany.
We talked about business and the old days when we worked together. He told me that he loves cold calling decision makers and sell them the services they offer.
I personally never enjoyed cold calling but I can see that he loves the game and that’s great.
However, building a business on selling without marketing is extremely dangerous. That’s a trap that I see many business owners fall into, no matter if they are in business for 6 months or 30 years.
Marketing vs. Sales
I believe you have to have both in your business to build sustainable success. They are not separate but interconnected.
They are a bit like a happily married couple. Without each other, they do great at the things they are good at. However, when they are together, everything works more in harmony and life becomes easier, more fun and more rewarding.
At a recent workshop I did with business owners to help them become the go-to experts in their market, I asked the question of “What’s the purpose of marketing?”.
There are many definitions of marketing and it does many different things. However, I believe a major purpose of marketing is making it easier for potential clients to say “Yes” to what you have to offer.
So marketing basically makes sales a whole lot more effective and easier.
How hard is it to call up a stranger and try to sell them something without having any trust or likability?
How different is that from having somebody call you or schedule a time in your calendar to talk to you about which one of your services would be best suited to help them overcome their challenges and achieve their goals?
About two weeks ago, I met with a fairly successful business owner who contacted me because somebody else told her about me. We never talked before and I did not even think of her as a potential client. I found her business fascinating and naturally wanted to learn more about it.
When we met for a coffee and I told her that I help business owners become known as the go-to experts in their market, she asked me “This is exactly what I need. Do you think you could help me with this as well?”.
One day later, she signed up for my highest paid coaching program.
I did not have to do a lot of selling, if any at all. My marketing has done all the hard work for me.
Starting at Zero Every Day
My old friend that I mentioned at the beginning of this post has to start the sales process from scratch every single day.
Even if he has talked to a potential client before, the next time he calls, the potential client hardly recalls who he is. He has to call exactly at the right time at the right day and say the right thing to get a new client. His conversion rates are extremely low.
I have built a system for my marketing and sales that converts every single potential client I talk to into a new client at about 70% of the time.
That’s only possible because my marketing pre-qualifies and educates potential clients on what they can expect.
I feel much better to talk to less people and convert a large percentage of them into paying clients than spending all my time calling up people and trying to sell them something.
I’d rather travel the world, read a book, go hiking or do something in my business that I love during that time.
Fact is that if you are building a business on selling without doing proper marketing, you have to start at zero every day. Even worse, it’s a house of cards with no solid foundation and if the wind blows a little harshly, it can easily fall apart.
Your Brand Equity
What a fancy word. What it means is how many potential clients know about you and what you have to offer. Now, if nobody knows about you and what you have to offer, you constantly have to be out there, hustling to get your next client.
I’d rather build brand equity so potential clients come to me when the timing is right for them.
It’s a fact that people buy from people they like and trust. If nobody knows you, nobody can like or trust you.
By building brand equity, you are actually scaling and leveraging the marketing and sales side of your business.
You create something that works for you even while you sleep. It creates more awareness and brings more people into your circle of influence without having to do more work.
So your output becomes exponentially bigger over time than your input. Isn’t that what we all want?
Who wants to spend the next 30 years selling their services by doing 100 phone calls a week that convert into 1 paying client?
Wouldn’t it be nicer to create brand equity that grows your list of potential clients and has more people out there talking about you and your business every single year?
I definitely prefer the second option and if you do too, let’s talk about how we can make this happen for you.
I recently watched a great talk from Gary Vaynerchuk on building brand equity. Check it out below.
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