Being in a room where everyone is strong-willed and overly opinionated is like being in a war room where no one wants to be defeated. If you’ve been here before, I know how frustrating it is. That is the usual scenario in every management and board meeting. Everyone has a voice in a meeting. And since we hold business meetings like a democratic “en banc” session, the majority always wins. Hence, the power of decision making lies in the hands of the majority, or in the hands of the owner who always has the veto power on matters regarding the business. But seriously, it is not always about the veto power, nor about the majority – it is all about your clients and you market.
According to Josh Kaufman, the author of The Personal MBA, “the best businesses are the ones that create the most value for other people”. From his definition, he made an emphasis on creating value for other people – and those “people” whom he were referring to is your market. That means, aside from your products and services, your client (your market rather) is also part of the core of your business.
So why are we focusing with your market? Simply, for you to have a profitable business. They are why you do business, which is why you need to listen to them.
One of the common mistakes a start-up business can make is that they are completely blind about the total needs of their (or their clients at the very least). During internal meetings, the management relies on their perception, thoughts, and guts about the market. They rely on their stock knowledge, not knowing the world of business is cut-throat because the needs of the market, most especially their purchasing habit and psyche change every now and then. And how can businesses adapt to this kind of force that shakes and shapes the market? The answer is simple – just LISTEN!
A successful business always listens to their market, to their clients. These businesses always mandate their sales theme to be with their prospects and clients throughout the buyer’s journey. This is to make sure that we are there to listen if they have something to say or when they need help. Nourishing the relationship with our prospects and our clients is the best way to increase retention. Listening is always the core of the “famer” sales strategy. The yield is not immediate (may took years at the most), but is proven very effective.
How can we effectively listen to our market and our client’s thoughts and needs? There are two principles on how to do this:
- Train your sales force to master the art of Total Quality CRM (customer relationship management). This is by cultivating them to effectively communicate the value of your products and services. Secondly, train them to always spot the client’s needs, listening well to what they have to say, and to spot other needs that they haven’t fully realized. Lastly, use all of those to tailor-fit a proposal that will meet their needs and that will exceed their initial expectations on your company.
- Acquire a business solution that is focused on enhancing the efficiency of your company to collect, encode, file, process, and retrieve essential client and market data to completely analyze their psyche and needs. This is a part of your TQCRM to equip your front liners such as sales and telemarketers.
Business isn’t about us, it is about our market. If we will insist in doing business without actually listening completely to our market, we are just putting our time, effort, and resources to waste. What is important is that before we produce new products, launch campaigns or start the operations, our arsenal is complete. And that is if we listen carefully and attentively to our market-client, and if we modernize how we do it.
If you have any business intelligence or enterprise solutions needs, you can contact PGE Solutions for their wide range of cloud-based business solutions in the Philippines to jump start your profitable year.
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