How Do You Catch Something You Can’t See? Bait Marketing!
How do you catch something you can’t see? Technology companies must implement Bait Marketing to grow their companies at scale.
The traditional technology sales approach of direct prospecting is a dismal statistical failure. Is it because technology companies have no value, or is because your target customer doesn’t know what your value proposition means to him in dollars and cents? Surely, smart companies can understand your monetized value proposition for their future if you show them.
Traditional direct prospecting places hope in brute force to create a response often resulting in turning off more prospects than it creates by blasting information they didn’t ask for, or probably don’t read or understand. Smart buyers are insulted by direct tactics they see as a nuisance and manipulation of their time and attention. Moreover, besides being statistically unsuccessful, direct prospecting is expensive in the long sales process and often results in unsuccessful sales representative turnover, training, and repeat process. Direct prospecting for technology sales is the wrong way to grow a technology company at scale.
But how do you catch something you can’t see? Bait! Teach a man to fish, and you feed him for a lifetime.
Bait Marketing utilizes your monetized value proposition (MVP) as the bait to create interest that delivers hot leads based on your MVP value for your target customer. Bait Marketing relies on interest, attention, and attraction generated from your MVP.
Bait Marketing is a pull marketing technique where the “bait” is circulated and cast near the target customer with personalized language to “lure” the prospect, whereby the bait is pursued by the prospect. Bait Marketing delivers prequalified hot leads based on a predetermined MVP.
Non-technical buyers operate in 3 information spheres:
- Looking – for tactical solutions
- Listening – to leaders
- Interested – in strategic impact.
Bait Marketing hits on all 3. As a tactical expression, it provides leadership insights before engagement, and has direct strategic financial impact as its main goal!
Additionally, Bait Marketing is affordable because it exists independently of effort, is non-intrusive, customizable, and scales. Bait Marketing also provides a showcase of company samples, examples, and leadership expression before meeting with you.
The key to successful fishing and business is the right bait. Your MVP is the right bait to catch your target customer because your MVP is your personalized value proposition specific to their company condition. Selling is easy when they ask the right questions.
Technology companies must monetize their value proposition as bait to grow their business at scale and maximize their business valuation.
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“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.
#tseanteague #resourcedomain #informationeverywhereaccessanywhere