The Dumbing Down of Our Industry & New Buyers

Published: IPA Bulletin - March/April 2010

To some degree, too many organizations in our great industry appear to have lost their way. We need to keep focused on the correct answers to: Why are we here and what's our mission?

I was reviewing with the sales representative his most recent dozen or so quotations. They appeared on the surface to be your typical specification-driven quotations, including customer and supplier quote numbers, when quote was needed, specifications, and pricing for several quantities.

My Assignment: Improve the client's hit ratio estimating results, in general, and each sales representative's performance with target customers, in particular.

To move discussion along with each sales representative, as we went through a review of one quote after another, I asked a series of what I consider basic questions focusing on Would you please tell me what you know about this company. For example:

• What is the account trying to achieve both as an organization and with this project?
• What do they supply that's valuable - that separates them from their competition - and who are their customers?
• What are their prospect's sources of pain?
• How do they (or could they) use print and related services to support their performance objectives?
• What are they unhappy about with their current supplier(s)?
• What would they like to see improved?
• What is most important about this project, in particular?
• Are they interested in any options (including services) that might save them money, or improve the effectiveness of the project?
• Has this project been produced before? If yes, do the colors need to match?
• Are there other pieces being produced or used with this project? Do the colors need to match?
• Are there pet peeves or problems the buyer doesn't want to occur ever again from a supplier?
• If the answer to any of these questions is yes, why was none of that information included in the quote letter? How long have you been calling on them?
• Have they visited our company and/or met any of our key people - CSR, estimator, plant manager, prep supervisor, president? You get the idea.

Responses to too many of these questions were: "I don't know," and "Is that information I should know?"

To some degree, too many organizations in our great industry, to coin a phrase, "appear to have lost their way." In too many organizations, the focus appears to be: "Find opportunities to quote that fit us so we can win work that we need."

Stressful conditions can understandably create distractions to what we know we should be doing to provide value to an important customer. As an organization (and not just as a business development professional), we need to keep focused on remembering the correct answers to: "Why are we here, and what's our mission?"

For some time, I've been an advocate that our great industry's mission is to improve our customer's economic well being - that's the only reason we have to exist. To that end, our associations, publications, peer groups, consultants, investments, and education and training should be focused on how to implement that mission.

Practical Applications

Back to the Sales Representative Quote Log review, discussion turned to a series of questions, information resources, and how to use the information we learn so rather than selling the customer a lower price we are providing information so the customer "would want to buy from us."

Chop your own wood, and it will warm you twice. - Henry Ford

A few applications for the information we learn include:

Quote Letters: We should use the meaningful information we learn to articulate in quote letters that we understand what's important to the buyer, the customer's strategic objectives, and the project's success. Too few quote letters contain anything other than the basic specifications, identification of the project, and pricing.

Sales Calls: We should prepare at least two pieces of useful information for every sales call. Suppliers and buyers' primary sources of useful information. The supplier that distinguishes him/herself with always bringing useful information can generally be assured of an appointment and preferential treatment of some design.

Notes of Appreciation & Acknowledgment: When we learn of a buyer's or account's significant achievement or anniversary, it deserves acknowledgment. In today's environment of too little time and too much to do, almost no one is receiving too many (handwritten) notes of acknowledgment. (The late Tim Russert of Meet The Press fame credits his handwritten notes of appreciation for differentiating him in his earliest professional development stages.)

Samples: A timeless practice that today's legion of new buyers are starved to receive, and which distinguishes suppliers, is a comprehensive review of a sample that's appropriate for the buyer's situation. Putting "the sample story" in writing is a self-promotion program two of our clients are utilizing today to open new doors as well as acquire new projects from current customers.

Useful Information: Researching our customer's business should have a focus that feeds a target market. What we learn at one account should feed our competence at other accounts and with other projects. For example, a target customer's markets might include higher education, fundraising, associations, direct mail/direct marketing, packaging, or even publications (short-run). A beginning list of sources of useful information include:

• Customer's website,
• Published articles,
• Customer's sales literature (read it!),
• Quote history,
• Sales calls,
• The internet,
• Current customers in similar businesses, and
• Local library-research librarians (including ReferenceUSA).

Improve Customer's Economic Development

I recently observed a well-respected sales trainer advise 11 CEOs that she "did not believe researching a target account should require more than about 10 minutes."

I don't agree.

I have one opportunity to make a very good first impression on my first visit to a target account. The first impression is very difficult to remove or correct. My buyer (whether from marketing, purchasing, or even creative or finance), with his/her valuable time, can be expected to be asking one gut-level question throughout our initial discussion: "What does this supplier offer that I need, and don't already have?"

If we accept that last statement as probably true, or very true, then doesn't it follow that I should want to do my homework and confirm the conditions and priorities in their organization in our initial, on-site, in-person discussion before I position my company's capabilities?

There are no shortcuts to any place worth going. - Beverly Sills, Opera Singer

Invest in your first (and last visit) impressions by always doing your homework and using that information to relentlessly move the working relationship forward to:

• Improve your customer's economic performance through the integrated use of your organization's resources; and
• As a result, improve your value and performance as the preferred supplier.

It's that simple. Not easy - but that simple.

Finally, are there concepts and information in this article that are worth your time to distribute and discuss with your Business Development Team? If the answer is yes, what will be the assignment to determine "what we should do differently" that deserves a checkup and group discussion review - one week from now?