As a branding and marketing firm with a long track record of working with Sales & Marketing VPs, I wanted to document the top ten challenges I've come to recognize, and what the most common strategies are for overcoming these challenges. For some, this may be sales/marketing 101, but it never hurts to revisit the basics:
10. Competition is stealing market share through low-ball price tactics Take the glass-is-half-full outlook by using this as an opportunity to educate customers and reinforce your value. Tactfully demonstrate that when they size up you against the lower-cost competitor, they are NOT making at an apples-to-apples comparison. Show them what the competitor has missed, overlooked or can't deliver on, and reinforce all the value you bring to the table.
9. Losing market share to smaller competitors Communicate the risks associated with placing business with a smaller firm. Show customers how service and quality will be compromised when a small firm takes on more than they can chew. Emphasize the cost of one misstep with the smaller player, and relate that back to real time and money lost.
8. No substantial differentiation in the marketplace Every company, by virtue of it's existence, is unique in some way. Find that unique X factor that will position your firm or company as the lone wolf, standing well outside the pack. Otherwise, it's a commodity game, and we all know how commodities are traded . . . on price.
7. Pressure to grow market share from top management Upper management does not always know as much as you think they might (or should) know. Good communication, about what the market size is, the number of players in the market, and what share you can realistically get your hands on, needs to be communicated, and not on a napkin.
6. Sales team is perceived as order-takers, and not solutions providers This is a tough situation to get out of once you're in it, and it's a hard climb up. It starts by training your sales team to think like a customer, REALLY listen and start living on the other side of the table. Only then can you truly come to the table with strategic solutions.
5. Communicating price increases Always in person with documented rationale. No emails or blind letters on this one, if it can be avoided. Good customers will appreciate that you are able to deliver bad news as effectively as good news.
4. Customer base is consolidating When the customer base starts to shrink, it's time to innovate and explore new market sectors that are not shrinking. What are the best cross-over paths for your products? Start by looking at industries that are ancillary to the ones you currently serve.
3. Sales personnel perceived as very low priority to their customers If your sales team is forced to chase customers, it means that customers perceive your deliverable as low priority in their world. Strategize. What can you do to elevate your importance and relevance in their eyes? What can you do to position your product or service as highly relevant and valuable to the customer's success?
2. Difficulty penetrating new market sectors Going into a new market space is always a challenge. But to light the fire all you need is one YES. Capitalize on that relationship and demonstrate that you now have the inside industry knowledge to get the job done.
1. Nearing or have reached a growth plateau When sales flatten out, it means you either start to grow or start to shrink. A plane can't stay up forever without refueling. It's time to explore new directions, to revisit your brand, and start looking downstream about what the next 5 years could bring.
To all of you that wear two (or more) hats in your organization, I wish you the very best.
What to do When You're the VP of Sales AND Marketing - To learn more about this author, visit Ed Delia's Website.
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Ed Delia
(Visit Ed's Website)
Ed Delia grew up in the dynamic world of
marketing, and was named president of
Delia Associates in 1998, assuming full
control of the company his father founded
in 1964. Under Ed’s direction, Delia
Associates has directly contributed to the
growth of a variety of clients.
Ed is committed to the welfare of the
local business community and donates a
significant portion of his energies to the
economic development of the region. He was
a board member of the Hunterdon County
YMCA, and acting PR/Marketing Committee
Chair. He is also active with the
Hunterdon County Polytech Academy.
Ed is president of the New Jersey Chapter
of the Entrepreneurs’ Organization (EO).
He was a founding member of Hunterdon
Young Professionals & Executives (HYPE) in
addition to the Flemington Chapter of
Business Networking International (BNI).
He served as board member of the Somerset
Business Education Partnership and the
Hunterdon Economic Partnership (HEP).
Delia graduated high school from the
Lawrenceville School (Lawrenceville, NJ).
He earned his BA in English from Dickinson
College. Ed is a frequent speaker on
branding, marketing, and creative
thinking.
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