You have a great product or service, and when you first starting selling it, it was difficult, then companies started to buy it, and then for a while it seemed so easy. But by now the sales may have tapered off.
And you keep asking yourself why this happened.
You have spent a lot of time, money and energy developing your product or service. And you keep spending more on its development, but companies don’t seem as interested anymore.
And you can’t figure out why.
I believe I have the answer!
Before the Internet and social media, if you wanted to sell your products and services, then you had to go knock on doors, sometimes figuratively, and mostly literally.
Too many companies have gotten away from the concept behind demand generation marketing. Demand generation is the focus of targeted marketing programs to drive awareness and interest in a company’s products and/or services.
Having said that, in today’s market, there are certain Internet and social media platforms you need to use, because your prospects and clients research your company on these platforms.
Most B2B businesses spend more on building their products (R&D) than they do on Sales & Marketing.
Intuitively this may sound like the best practice, but for business sustainability and growth, it is a business destroying practice.
Get your product out there through Sales & Marketing and let the marketplace tell you what is needed next.
Watch the following video to see why this practice, of not spending enough on Sales and Marketing, may be the destruction of your business.
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Graphic by mcraeandcompany.co.uk
- 3 major mistakes that stop B2B business owners & CEO’s from moving their business from 7 figures to 8 figures and beyond – Mistake #1
- Major Mistake #2 that B2B Business Owners make – Unknowledgeable about Sales & Marketing themselves
- 5 Major Mistakes B2B Companies Commit to Lose Clients
- Why B2B Businesses Struggle to Grow from 6 or 7 figures to 8 figures and Beyond.