When Steve McGinnes, marketing agency exec and author of Surfing the Asian Wave, headed off to Singapore for a pitch meeting, he only expected to be gone for three days.
15 years later, he’s still there!
I suppose Steve should have guessed he might be in for a longer than expected stay when he mentioned his “short jaunt” to a colleague… “Singapore, huh? 10 meetings to money,” came the reply.
And based on the way things played out, Steven’s associate was right on the money (pun intended!)…
It took Steven and his team over a month to close the deal with the Singapore-based firm. And after the paperwork was signed, the firm didn’t want to be handed off to another team.
After all, the firm’s reps had spent a month developing a rapport with Steven and the pitch team. Why would they want to start over with a completely different set of people? To them, it made no sense.
And this reaction typifies a clear difference in approach between Asians and Westerners in the business world.
When it comes to pitching a new client in the US… It’s all about getting a meeting ASAP. Pummeling the prospect with your power pitch. And hammering down until they “sign on the dotted line.”
In Asia, however, such “hard sell” tactics fall flat. Our eastern counterparts do business with people. Not companies or brands or corporate concepts. Thus, they want to know — and get to know — who they will literally be doing business with.
This Also Illustrates a Marketing Lesson CRITICAL to Your Business…
In recent posts, we discussed… The importance of avoiding turning your services into a commodity (by not competing solely on price). And why personality is the key factor differentiating your business from your competitors.
These concerns come into even sharper focus when you consider the value developing relations with your clientele brings to growing and sustaining your business.
Your prospects don’t expect to do business with a faceless company. They assume they’ll be doing business with you and your employees. And the better acquainted and more connection they have with you and your team, the better your odds of winning and keeping new business.
In turn, these elements all connect in two important ways…
First, relationships supersede price. Most professional service consumers prefer to work with a provider they know and like. Especially when the alternative is hiring a complete stranger just to save a couple of bucks.
And secondly, personality is a bridge to developing a relationship. The know, like + trust factors – which guide you from initial connection to fostering a rapport to earning a sale — are a metaphor for the evolution of a relationship. And personality opens the door to that process.
So, the question now is…
What Are You Doing to Foster Relationships With Prospects and Existing Clients?
Let’s say you’re not competing on price. And assume you’ve infused a sense of unique personality into your marketing. You may still be falling short.
That’s because while you have a foot in the door, it’s just sitting there, taking up space. The next, and all-important, step is capitalizing on that entre. Capitalization that’s achieved by developing and fostering relationships with your prospects and existing clients.
Not Sure How to Develop a Productive Client Relationship?
No worries, I can help! Let’s chat 310.466.7893 | ryan@ryananys.com
