When you think of the word leverage it generally ends up with a negative image intended mind. It sounds like being in debt.
In financial terms, leverage can have some negative connotation but today I am going to talk about the positive effects of leverage.
Archimedes is supposed to have said “give me a lever long enough and a fulcrum on which to place it and I shall move the world.” The biggest advantage of leverage that with very small effort you can achieve massive results. Little hinges swing large doors.
Moving in your car versus walking is leverage, automating a factory is leverage and all these help tremendously
In marketing (and sales also as part of marketing ) there are tremendous processes where we can leverage on things like automation etc.
But my favorite kind of leverage is relationships. These could be relationships with customers, relationships with vendors or your network. If you have enough good relationships in place, as Archimedes mentioned in a different context, you can grow your business dramatically.
However in any relationship is always better to give, before you get. That way the principle of reciprocity comes into play. Otherwise the person will feel exploited or used.
Other than relationships good sales people are tremendous leverage. A successful advertisement / message in one market can be leverage to get into other markets faster.
A CRM can help the new salesperson on speed faster to the accounts that she needs to target because all the historical information about the prospect is available.
A family of aspirational products and brands are also leverage for the company.
I would love to hear what is your favorite leverage in marketing or sales.
Till next time then.