4 Growth Strategies You Probably Don’t Know About

4 Growth Strategies You Probably Don’t Know About

Structure precedes Strategy and Strategy precedes Execution

© 2021 McBrayer & Associates

THIS IS RIGHT FOR YOU IF . . . 1) You want to grow, to have confidence that you can generate

profitable, recurring revenue, but don’t want to hire more estimators just to quote more work.

2) You are growth-oriented and realize that choosing to “do nothing” results NOT in remaining the same size, but in loss of revenue.

3) You want to convert winning a job into winning a long-term customer relationship that values what you do more than just low-bid.

4) When your realize that your Project Manager’s role has shifted more to Business Development than running the job. Relationships are more important to recurring revenue than quality control.

5) When leadership has determined that new business development should be their key initiative but without some type of change in structure, strategy or execution they are unlikely to succeed.

© 2021 McBrayer & Associates2

BRANDS WE HAVE WORKED WITH


4% OF START-UPS MAKE IT 10 YRS.


THE CULPRIT IS CUSTOMER CHURN

1) Definition: % of Monthly Recurring Revenue lost

2) Acceptable Rate is 5-7%

3) Importance? More profitable to keep customer than land new one

4) Why would customer leave:

Values lower price more than YOUR relationship or YOUR value


THREE KINDS OF PEOPLE


ALL I ASK IS TO BE OPEN MINDED

“Everybody wants change; nobody wants to change.”

Leader’s responsibility to influencedesired change.


1ST WHO, THEN WHAT, THEN HOW


STRUCTURE - INTERNAL


WE ASKED SALESPEOPLE

A defined strategic plan for a sit-down opening discussion with a target. One where I feel confident that I can present and change the discussion from $$/% to performance and service.

being able to sell our difference when we’re fighting competitive offers where we don’t have the lowest price or the best deal.

create more customers that trust us verses having to bid “one and done” jobs.

How can I get in the room with the key decision-maker(s)?


WHAT WE FOUND LEAD INDICATORS


High-ValueActivities

Low-ValueActivities

Customer Interfacing Not Customer Interfacing

SALESPERSON TIME MATRIX



Low-ValueActivities


Q1 Q2

Q4Q3

SALESPERSON TIME MATRIX



Low-ValueActivities


Q1 Q2

Q4Q3

1) Prospecting2) Establish Relationship3) Need Discovery4) Presenting Solutions

1) Planning / Preparation2) Research / Rehearse3) Creating email / scripts4) Design Sales Collateral

1) Donut Drop2) Wrong Conversations3) Meeting Wrong People4) Customer / Tech Service

1) Wind-Shield Time2) Administrative Work3) Internal Meetings4) Checking Email

SELF-REPORTING SURVEY TIME MATRIX



Low-ValueActivities


Q1 Q2

Q4Q3

10%

30% 40%

20%

STRUCTURE - EXTERNAL


5 CUSTOMER CATEGORIES

1) Preach to the Converted - Retention – Keep what you got

2) Cut the Time Wasters – (Quit playing the role of 3rd bidder)

3) Grow Where You’re Planted – Increase your Share-of-Wallet

4) Follow the Money – Identify which Segments will be Hot

5) Gain New Customers – Take Market Share


DECISION-MAKERS AGREE TO MEET

1) They want to expand their product offering or entertain new bidders

2) When their current supplier (your competition) is having problems

3) When they are performing a product / supplier / contractor review

4) When they are having problems

5) When they want different ideas about how to solve their problems

6) You reach out with relevant information to their challenges/priorities


ACCESS TO THE RIGHT PEOPLE

80%That’s the percentage of decision-makers that say they would take a meeting with an outside supplier when it’s relevant to their priorities.


4 GROWTH STRATEGIES + 1 YOU PROBABLY DON’T KNOW ABOUT

1) Strategic Introduction

2) Capabilities Briefing

3) Bounce Meeting

4) Executive Roundtable

5) Signature Talk


1) STRATEGIC INTRODUCTIONS

Copyright 2021 Program on Persuasion20

Transfer of Credibility

Cold-Calls = .05% - 5.0%

Personalization = 10% - 15%

Direct Introductions = 15% - 20%

ASKING FOR DIRECT INTRODUCTION


1) Ask recent convert if they are happy?

2) Why? What is the key metric?

3) Only Performance Results matter.

4) Be specific about who you want them to introduce you to.

5) Why they stand to benefit from making the introduction.

6) Leads to Capabilities Briefing

7) Retention, Share-of-Wallet, Follow-the-Money, More Customers

2) CAPABILITIES BRIEFING

1) Not pushy, just to let you know what we do before you need it.

2) Avoids objections, because not trying to sell them anything.

3) Not trying to sell, trying to start a conversation.

4) Frames the conversation to be had.



THIS IS RIGHT FOR YOU IF . . . 1) You want to grow, to have confidence that you can generate

profitable, recurring revenue, but don’t want to hire more estimators, just to quote more work.

2) You are growth-oriented and realize that choosing to “do nothing” results NOT in remaining the same size, but in loss of revenue.

3) You want to convert winning a job into winning a long-term customer relationship that values what you do more than just low-bid.

4) When your realize that your Project Manager’s role has shifted more to Business Development than running the job. Relationships are more important to recurring revenue than quality control.

5) When leadership has determined that new business development should be their key initiative but without some type of change in structure, strategy or execution they are unlikely to succeed.


BRANDS WE HAVE WORKED WITH


3) BOUNCE MEETINGS


POSITION THE BOUNCE MEETING

Copyright 2021 McBrayer & Associates Inc.26

1) Identify the problem to fix or the goal to achieve

2) What are the top criteria or deliverables

3) How will we measure the results

4) Confirm results needed to move forward

5) What should we expect if we exceed the expectations

6) Schedule bounce meeting now

7) Retention & Share-of-Wallet

1-PAGE CASE STUDY


Challenge: Flat Industry GrowthMarket ConsolidationReduction in ForceMarket Share Grab

Solution: Transition from Product Sale Gain Customer InsightsNamed Account Target StrategyEnhance the Buying Experience

Result: Record number of New Accounts Successful Transition to New BusinessIndustry Retracted (-1%)NCS Increased Sales 7%

700% Better than Industry

MONTHLY ROI PER PM


4) EXECUTIVE ROUNDTABLE


EXECUTIVE ROUND TABLE1) High-caliber executives (invitation only)

2) Virtual Meeting (Zoom, GoToMeeting, Skype)

3) Who else is going to attend (Your Anchor)

4) Topics that are of the most interest to attendees (we ask them)

5) Limited to 8-12 Attendees

6) Your role is to facilitate (connection economy)



5) SIGNATURE TALK LIES IN LONGTAIL


Bulk

Sale

s Vol

ume

Differentiation of Messaging


THE REAL PROBLEM


5 TIMES OUR CLIENTS REACH OUT

1) They need a low bid to help them win the work and make a profit

2) When the schedule is tight and they have to be done on-time

3) When lots of changes are expected and the drawings are poor

4) Specific skill-set is required & professionalism is a must

5) When they have to have someone they trust to get the job done


CUSTOMERS TELL US THEY WANT

Low Cost

On TimeQuality


BUT, WHAT THEY REALLY WANT . . .

1) Not the “low bid” but the final cost, the real cost to win & profit

2) Adjust to changes while maintaining cost & meeting deadlines

3) Quality work that represents them favorably with their customers


“The bitterness of poor quality remains long after the sweetness of low price is forgotten”

- Benjamin Franklin


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4 Growth Strategies You Probably Don’t Know About