Today we have a guest blog from Elizabeth Andreini:
August
is generally a quiet time for business; many people’s thoughts turn to vacation
and it might seem that half the people you want to contact are either getting
ready to go on vacation, or already on vacation (even if they haven’t yet left
the office). Several companies I’ve talked with recently have been thinking
about making changes in the markets they serve. My advice, which I share with
you, is this can be an ideal time to reach out and have a different type of
conversation with customers and prospects to gather information to make
strategic decisions on markets and products.
Maybe
your business feels less focused than you would like it to be because there are
so many possibilities that you aren’t sure you are focusing enough? Or have you
felt that your market traction may not be as strong as it should be and wonder
about the size of the market? Are there are other markets you could be
expanding into, but aren’t sure where to expand for maximum results?
No
matter the question, this is the ideal time when everyone’s pace is a little
slower to have some deeper, more meaningful conversations. Take a few minutes and create a list of
questions you would like to research. Ask customers and key prospects for a few
minutes of time over the phone, or if they are nearby offer to meet for an
(iced) coffee. Interview customers and recent prospects or others who are
thought leaders, listen to them talk about their problems and needs as well as
wants. Analyze market segments to pursue (including the one you are currently
in) and validate that problems are urgent and pervasive to know that target
segments will support both current and future business.
You
might be surprised at the insights you gather and the connections you make
during this research process. Taking this time during the summer doldrums and
you will be ready to create a plan that will help you as you come into the more
active fall and winter periods – and help prepare you for an even stronger and
more profitable 2015!
Consider these
questions when doing your research:
- What are some of your biggest challenges?
- What are the biggest advantages you gain when you use our products and services?
- What products or services do you wish we had that we don’t?
- If we were considering offering “test product/service” what advice would you offer us on which markets to pursue?
- What trends are you seeing that our company should be aware of?
ELIZABETH ANDREINI
As the President of Accelerate Marketing, LLC, Elizabeth Andreini, is the “secret
weapon” CEOs turn to at key growth points when they need to transform marketing and
product management to grow their customer base, increase revenue & scale their
business. In addition to providing experienced executive insight and guidance, Elizabeth
often works as an interim CMO or VP to provide the hands-on leadership needed to
rearchitect marketing and product management and improve execution from the inside.
Elizabeth Andreini, founder & president of Accelerate Marketing, LLC
206-769-3420 or elizabeth@accelerate-marketing.com
Twitter: @acceler8mkting
LinkedIn: www.linkedin.com/in/elizabethandreini
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