Some start-ups and CEOs get on like a house on fire as they start; fortune smiles down on them and they get business partner after business partner. Soon enough they are breaking even. Once the company has become established a bit, they start to see that business trickle down. Why? Many experts explained this away by saying that at first, when the company is new, it tries everything and the customers also flock to a new service. Once it becomes established it falls among all the rest of the companies out there and loses its distinctiveness.
However, in this digital day and age, getting or giving business is not that simple. There has to be B2B sales and marketing alignment in order for you to tap the full potential of that market. And this is not limited to the traditional ATL and BTL advertising – it means online too.So here are the things you can do to get your company’s business back on track.
As much as you hate it, an outsider’s perspective can shed crucial light on what you are doing wrong, or even what you are not doing enough. So call in an agency that does audits on your strategies and plans. They will observe for a few days and then show you what you need to do in order to change your results. Some agencies even offer solution packages that are tailored to your specific needs. If they have one available, use it. The money is nothing compared to what you will gain from it.
If you are like most companies that began as start-ups, then you have a core team of loyal employees who would rather die than leave the company. These are the bedrock on which a company rises. However, they also run the risk of fossilizing as they do not gain exposure to new working environments and conditions. Since the corporate landscape changes every day, it might be a good idea to get in a trainer or speaker to hold B2B sales training for your employees in order to keep them up to date. This is also important as start-ups attract a lot of newbies to the field, and most of them have no clue about best practices, corporate terms etc. that are the bread and butter of a business.
Foster a culture of self-evaluation right from the beginning and you might even forgo the practices auditor. Hold frequent discussion groups with your teams at every level and then pull focus groups from a mix of levels so that you get a good idea of what problems exist within the company itself. There can be negative working relationships or negative power dynamics that are affecting the negotiating table and your bottom line which will not be found out by an audit; that requires careful probing by a trusted internal employee.