My last post emphasised the need for start-ups to prioritise commercial focus on generating Sales.
What it didn’t offer was any guidance on the optimum strategy to achieve this objective.
In business, often one of the most difficult things to achieve are Sales - the acquisition of paying punters.
Sales rarely happen without consideration and trust. Therefore, making sales is usually dependent on building relationships; possibly between individuals; often relationships with your brand.
Equally rare is for Sales conversion to happen as a consequence of a single moment of communication. Rapport is usually a key ingredient of trust and consideration.
And so, what are you going to do to give yourselves the permission to build dialogue - to create an on-going communication between you and the people who might buy your product?
Why innovation is so important.
If the primary objective is sales - then the number one strategy is building meaningful dialogue with customers and prospects to enable sales to happen.
In my experience, the communication of innovation is the most engaging and effective route with which to execute this strategy.
And if you have any doubt about this, simply look at the global impact of Apple’s #WWDC (Worldwide Developers Conference) - or the fact that half way through this week’s Apple event, Google chose to announce its $1bn+ acquisition of Waze.
But this phenomenon is not unique to the Apples and Googles of the world. It is absolutely relevant to all companies large and small.
People like to hear that you and your business are progressing. They want to hear what’s new. They want to hear that you have invested in and worked hard to bring new propositions for them to enjoy. They like discovery and being the first to discover something new. They also like the idea that perhaps in some small way, that they may be a component of your success (ie. by buying your latest innovation). They want you to be successful, especially so if you have a worthy cause and lots of passion.
Innovation - and your announcement of it, gives you the permission to:
- Grow your audience
- To engage them in a compelling conversation
- A conversation that your customers and prospects want to hear
- It nudges them one step closer to actually buying something from you
- It potentially generates PR coverage, thereby extending your reach still further
If innovation is such an accelerant of sales, my request is not to fall into the belief that it can’t be engineered and planned for - to mistakenly assume that innovation is a mysterious elusive thing that only happens to rarely gifted people.
In my next post I’ll write about how best to plan innovation.