by Tim Hughes | @Timothy_Hughes
My co-founder, Adam Gray and I were both in Melbourne, Australia with Graham Hawkins of Sales Tribe.
Graham explained how companies using cold calling, cold email and advertising were in slow decline over more efficient methods like social selling, where you can get higher faster. And the can get higher revenue results.
Why is this:-
- People don’t take cold calls and in fact won’t tolerate cold calling. Companies that use this method (apart from getting lower results than social selling) are sabotaging their brand.
- People don’t read your emails. The best people can expect (on average) from email marketing is 4%. That is 4 opens in 100. Highly unlikely to translate any of those opens into a sale. Again you are sabotaging your brand as people hate the interruptions.
- Nobody reads adverts anymore. We were pitching in Melbourne to a group of marketers and Adam said “you get up in the morning and ignore the adverts on the TV, you get in the car and drive to work, switching radio stations when adverts come on, you walk to work, ignoring the billboards and hate it when people interrupt you when they cold email and cold call you …. then you totally ignore your own and everybody’s behaviour and commission some advertising.”
In fact everybody in modern life have developed the ability to filter out all advertising, cold calling, cold emailing and any corporate marketing. It has now become, just noise.
This is the graph moving downwards from left to right. Note this line does not meet zero, the horizontal line is where sales no longer cover costs. Which at the point you go bust or are purchased.
Think this is made up, don’t forget that 52% of companies that were in the Fortune 500 in the year 2000 have gone today!
Go to Where Your Prospects and Customers Are. Here is a clue where they are.
The smart companies are starting to make the changes necessary to pick the new curve up, moving from left to right.
It would be wrong of me to say this is easy, change never is. No change is hard and to take everybody along with you, no number of “webinars” or “hints and tips” training can help you.
To move the organisation to a “social first” platform, so socially enabling, Sales, Marketing, HR, Supply Chain, Procurement etc, needs new thinking, changes in processes and change in the way people work.
The prize being, increases in incremental revenue, competitive advantage and of course staying in business.
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