Improve Your Industrial Marketing
So what does industrial marketing have to do with Chef Gordon Ramsay? If you have ever watched him work on turning around a restaurant he consistently does one thing. He looks at the menu and severely pares it down. This is simply because the bigger the menu the more expensive it is to operate the restaurant. More inventory, more chefs, more food wasted, it’s pretty obvious. You want a lean and mean menu for a lean, mean, and profitable restaurant.
The same principle applies to the menu of products you are utilizing in your industrial marketing activities. Lots of products may give the appearance of heft but ultimately they work against you. Lean and mean also works best for industrial marketing. Pare your menu down.
In some industries extensive product lines are required. Obviously there is nothing inherently wrong in offering a wide product line (although an 80/20 assessment followed by some serious cuts to your product lines would save you a bundle).
While, like one of Chef Ramsay’s restaurants, a large menu of products can make your company more expensive to operate it will cause additional problems.
When you market your company by first presenting a large menu of products to your target market it often has the not so wonderful effect of creating confusion in the minds of your prospects. A confused prospect will often choose to do nothing. This is the least desirable course of action if you have any hope whatsoever of selling your products.
Here’s what to do.
If you want to add power to your industrial marketing you are far better to take the time to first consider what constitutes the main problem or aspiration in your marketplace.
Surveying your marketplace will give you a good general idea of what your prospects want to avoid or to gain. Once you have done this the next step is to come up with some kind of lead generation asset that will get their interest in your company. This could be a report, tip sheet, video, teleseminar, or a webinar. This is, of course, standard two-step lead generation.
The next step is the one that is often skipped but will dramatically increase your rate of success.
Simply create and promote a fabulous lead offer that makes it easy for your prospects to become first time customers. Where possible this offer should be focused on helping them solve their specific biggest challenge or meet their most-desired aspiration. One thing you could do is provide an onsite assessment. You could charge a nominal amount or make it a free assessment.
When you survey your marketplace be sure to ask them to tell you what lead offer they would find most interesting.
Once you have a more complete understanding of their particular situation form your free assessment you will then know exactly what to offer. Instead of presenting your prospect with a menu of 20 product choices present them with three or fewer (one may be better). Make it easy for them to choose and they will choose you. And isn’t that what industrial marketing is all about?