6. Leveraging success from one Industry to Another.
At the moment, your most compelling story may be relevant to only one sector or application. You risk diluting the impact of your story by watering it down to a generic benefit like cost containment.
Often an industry perceives its challenges as unique to their particular circumstances. You may see your relevance more broadly, but remember, relevance is in the eye of the beholder.
If your current credibility story is a specific business challenge, like retaining credit card customers, you may need to first develop success stories within the credit card line of business and find ways to migrate to consumer credit, for example, if your offering relates to financial services.
Once you can demonstrate credibility to consumer credit, you may be able to leverage your relevance to other industries where consumer credit is a line of business such as auto or computer equipment leasing.
Armed with credibility in the leasing business, you may then have proof points that will have weight in the auto and computer manufacturing sectors.
Having a plan for tactical development will spare you the “see what sticks” approach to multiple industries. Knowing the landscape surrounding the Big Game you are tracking means being able to identify the nature of their challenges.
Read their industry journals: follow their thought and opinion leaders. Know which conferences they meet and speak at. A cursory survey of the topics at important conferences or journals can give you clues to the challenges they are facing.
As you become familiar with the landscape your Big Game lives in, your ability to target your message to THEIR concerns will mean more listening from them. If you want to be a Big Game hunter, you need to know where they live, what they eat, who their predators are.
ASK US: “If I have a very specific service, how might I make my offering relevant to another industry?”
cmassociates@sympatico.ca
To learn more about this author, visit Catherine McQuaid's Website.
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Catherine McQuaid
(Visit Catherine's Website)
CM Associates
do market reconnaissance for companies
wanting to acquire “wish list” new
clients: those in stable sectors, with
lots of ongoing needs.
How to avoid the feast-or-famine cycle of
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CM associates conducts new business
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Simple, database tools, voice, email and
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Reach beyond local markets without leaving
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