I have a client who has been hit very directly by the current economy; while he has maintained a positive outlook, he like everyone is looking for that slight edge that will help them drive revenue now and maintain his base for the future. While hasn’t always been easy for Tom over the last few months he continues to marshal on looking at the up side of things. But in April he became really disillusioned when he found out that his printer, who had been handling his flyers and other commercial printing, stopped send his business to Tom, and was now buying from one of my client’s competitors.
Being a man of action, Tom was hell-bent on making sure that he had an equal relationship with everyone, and he quickly switched his printing business to another printer. In fact he began looking at his vendor list and examining which are in a position to do business with him, and of those which are doing business with him, and which are not. Those that were not are slowly being replaced. What’s interesting is that he is not telling any of them why they he is switching away, no fanfare no hoopla, just a quiet migration. As he switches he is letting his new vendors know why they are getting new business, and his expectation of some form of quid-pro-quo.
Please understand that Tom is realistic, he doesn’t expect the new vendors to switch everything all at once, some are contractually obligated, or otherwise truly unable to switch right away. They are however able to provide referrals, introductions, send some business at times, the key is to show themselves as supporting “business partners” willing to ensure their own revenue stream with just a little effort.
Tom also realizes that some large companies can’t respond the same way local companies do, but being $150 million business, Tom has a sense as to how agile some can be. Even with his bank, he may not get their contract, but he can get their support, he has engaged his small business banker and has got him to mention him to existing and new account holders whose business fits Tom’s customer profile. As a result of Tom’s actions, his accountant now sends out introductory letters, and has created a “customer directory” of sorts on his site where his clients are encouraged to support one another. Not a big deal, but a show of intent, and support.
As sales people we can learn a lesson from this, we should encourage knowledge of our clients and prospects, become a conduit between them. If we expect referrals, we should exemplify that, you don’t have to belong to a formal networking group, doesn’t matter how big or how small, if you can send opportunities their way you help them and yourself. Take a look at your account base and your opportunity pool, see who can work with whom, and just keep that in mind. You don’t have to go out and play match maker, but if you are aware of where the dots are, they are easier to connect when the time presents itself. What could help you more than to refer a current prospect to a current client; you think they would miss that? Long before social media and social networking, there was just being social. So socialize you rolodex, help you community, and earn some nice dividends for a good investment.
Tom, he is rocking, earning business just because he has become known as an honest partner. Some of his vendors have come around asking why he left, he tells them very clearly, no emotion or vengeance, some have sent him business again, some can’t grasp the concept. But since Tom has started this move, his revenues have grown and his mood is high.
Well I have to go and get my order into to Tom so I can have it in time for the weekend.
What’s in Your Pipeline?
Tibor Shanto
The PipelineLink to original post