With all the attention given to AI and machine-learning driving business processes, are we at risk of losing sight of the need to apply authentic human learning to improve results? With so much focus on AI, we tend to overlook the meaning of the leading word of that phrase, “artificial”.
It’s commonly said that business-to-business (B2B) companies have a similar marketing challenge to those in consumer (B2C) categories. After all, they say, it’s still ‘people’ making decisions. That’s only partially true.
Why Associations need to be wary of this alarming trend
It’s a trend we all experience. Each day your inbox is carpet-bombed with survey appeals, “Tell us how we did” or the old-school appeal, “Give us your two cents”. It’s almost comical, but sadly is not funny – it presents a major challenge to your feedback loop with members. The more survey requests they receive, the less likely they are to respond to yours. What’s Driving the Issue?
Why It Hurts So Much to Lose a New Business Opportunity and how Win-Loss Analysis May Help
Let’s face it, we all want to grow. Regardless of company size or business category, growth is your goal. And yes, you want to be smart about it. Certainly M&A strategies can play a role, but what about organic growth? Whether you are expanding your product or service offerings or entering adjacent markets, before you begin deploying resources around the new opportunity, consider these four critical guidelines:
When you lose a deal you thought was yours, it hurts – a lot. So, you quickly jump back into the fray, pursuing other potential deals. Afterall, as the old adage says, “Sales is a numbers game”, and if you just focus on putting more deals in the funnel, you’re bound to win the opportunities you’re supposed to win. Right?
Whitewater rafting. It’s kind of a Colorado thing – like Subarus, Tevas, and dogs. That crazy pin-balling off boulders, both seen and unseen, as you hurtle downriver tossed about by ever-changing rapids, rises, and drops, can leave you wondering how you’ll ever make it to the takeout.
Having a group of deals expected to close, but instead get “pushed” into next quarter is as frustrating as it is common. And it is common.
In Q of E Diligence, you know what matters and how to measure it. After all, your deal is at stake, and the performance after the deal depends on it. With all the rigor you apply, still, you have to ask, “Is the diligence package giving us confidence in the revenue stream we expect?”
As companies seek organic growth, launching new products and services makes sense. Innovation is key to long term success and competitive advantage. Opportunities to sell more to current customers is an obvious motivation for creating new offerings.