Comparison: Direct Prospecting Sales vs Bait Marketing
Direct Prospecting Sales
Step Stage Behavior Cost Element
1 Prospect Locate and research talent Time in Salary
2 Prospect Approach directly; repeat (1-7 times) Time in Salary
3 Prospect Communication; repeat (1-7 times) Time in Salary
4 Sales Appointment taking Time in Salary; Expense
5 Sales Proposal presentation Time in Salary; Expense
Results: Direct prospecting is expensive in terms of the long sales process, unsuccessful sales representative turnover, training, and repeat process.
– VS –
Bait Marketing
Step Stage Behavior Cost Element
1 SEO Cultivate Interest Marketing
2 Social Media Circulate bait Marketing
3 Email Cast bait to target customers Marketing
4 Sales Prospect initiates presentation Time in Salary
Results:
- Provides hot leads that buy sooner & more often
- Prequalifies prospects by showing them a predetermined value
- Merchandizes your bait by presenting samples, examples, demonstrations, and results – before the sales process begins
- Hits on all 3 buying areas: as a tactical expression; leadership insights; makes a financial impact
- Is independent, nonintrusive, scalable, personal, persistent
- Differentiates you from competitors without a demonstrable value proposition
- Is much more efficient & affordable than direct prospecting or sales can be
“Nothing happens until a sale is made.” Thomas Watson, Sr., President of IBM from 1914 to 1956, coined this expression. He knew what he was talking about. Selling technology in the first half of the twentieth century, before the moon landing in 1969, was not an easy sale to make. Companies then, like many still today, did not understand the transformational power of technology to reshape industry and company fortunes.
What is a “sale” and how is it made? A sale is made when a buyer and seller agree to exchange values. The customer’s value is revenue, but what is your value to the customer? It’s not your price.
New sales are the lifeblood of every business, but not every business knows that yet. Without predictable new sales year over year, no matter how well intended a company’s mission or goals, the company will suffer with limited growth. New sales breathe life into all other company possibilities.
How to attract new customers year over year is the seminal question every business must solve first if it wants to maximize its value proposition and reach its potential.
Technology companies must monetize their value proposition to make more business. A company’s value proposition is the monetized value of its service or product to the customer - “your value.” If you don’t know the monetized value of your value proposition to your prospect, neither does he.
Sales are the problem, sales are the answer, sales are the point. Monetize your value proposition to make more sales and grow your business at scale.
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