Fact: Even after you’ve talked to them at length about it, most of the decision-makers you are talking to still have no idea how Social Media can help their business.
Heck, they may not even completely understand how developing relationships with customers, building a great brand or taking the time to help communities grow around their products or company philosophy can positively (and pretty significantly) impact their P&L.
Now… don’t get me wrong: I am not a huge fan of spending a whole lot of time attaching every single thing a company does to the almighty P&L. That’s a lot like putting a $$$ value on every hand you shake at a party or every business card you hand out. Pretty self-serving and sort-sighted, right?)
BUT I also understand that when sitting across the room from a decision-maker who gets pitched every day, you have two choices: 1. Sell something they don’t care about, or 2. Solve a problem for them that no one else can.
It doesn’t matter that what you’re selling will absolutely catapult them to the #1 spot in their market or boost their sales by 5,000% in just 12 months. (As if the actual value of an idea had anything to do with management decisions. 😀 I mean really: Look around you.) If they don’t get it, if you aren’t handing them a solution to a problem they are struggling with, you are wasting your time.
Worse yet, the opportunity cost to you and the honcho you just wasted your time speaking with is this:
1. Someone else with a lesser idea but better presentation skills will get that business.
2. The company who went for the lesser solution will suffer from not having signed with you. Market share and profits will continue to erode. Layoffs will ensue. The world as they know it will end. (Do you really want that on your conscience?)
So what’s the answer? Simple: Be prepared to address their specific need. Understand what their hot-button issue is. And more importantly, get good at clearly and smoothly connecting the dots between what you have to offer and the result your interlocutor is looking for. Is it more sales? Is it loyalty? Okay, how does your solution impact either or both?
But wait… define sales. Are we talking about creating new customers? Increasing how much existing customers spend? Shifting customer spending from one product to another?
If trying to impact loyalty, how does loyalty look to that manager? Does it look like increased frequency in purchases? Does it look like an increase in new customers through referral programs? Do they even know? Do you know?
Look, if you don’t know this stuff, if you can’t tie it all together, if you can’t at the very least speak that language, it’s back to the drawing board for you.
Sure, you may get lucky with 5% of the company execs you sit down with, but even then, it’s a matter of time before their boss looks at your program and asks for a slightly better answer to the ROI question than “increased social mention,” “really positive online conversations” and “almost 3,000 followers on Twitter”. Whether you like it or not, whether you care about it or not, this is a piece of the puzzle that you have to address. Period.
If you’re scratching your heads right now, no worries: Over the course of the next few weeks, I will be helping you with that little problem. Stay tuned. I have something special brewing for you guys. 😉