Relationships make a difference

When I was starting out in sales I read a book – What they don’t teach you in Harvard Business School. It was authored by Harvey McCormick. I was very impressed with the achievements that he mentioned in the book.

I have forgotten most of the book, but one sentence that has stayed with me has been – All things being equal people buy from friends, all things Not being equal they still still prefer to buy from friends.

That one statement keeps ringing in my mind from time to time. It has been a guiding statement whenever I interact with anyone.

I try to ensure that I make long term relationships by being straight and upfront in whatever interaction I have with people. Not only with prospects and customers but even with vendors and everyday people.

When you build these kind of relationships you can be sure that you can pick up the phone and call people when you want and they will also answer your phone. Also because you have dealt straight with these people you aren’t scared when connecting with them.

Its also similar to the philosophy of giving first that Joe Polish talks about. When people trust you and know that you will be transparent in your interactions, they are also open to interact

Does that mean that I have not been tricked and taken advantage of because of this philosophy, absolutely not. But the amount of times I have been duped is way smaller than the amount of times the relationships have helped.

My advice would always be to play the long game and build relationships which can last you a long long time.

Till next time then.

Carpe Diem!!!

Riding the elephant- you still need to market

B2B, Marketing, need, relationships, Riding the elephant, route to market, Symbiotic relationship

While I keep harping about the advantages of using my philosophy of riding the elephant. You need to be aware that, at the end of the day you need to keep your marketing principles in mind over there also.

I have written on some ofvthese points earlier also, but its important to identify the need of the elephant. The elephant has to see the benefits of giving you a ride.

This is a critical aspect, because if you try to tell the elephant about your capabilities to cut branches of trees, then the elephant may not be interested in you. On the other hand if you show the elephant that you can help him get bananas faster, it may become your friend and give you a ride. However some elephants may not be interested in bananas, so you may end up missing judging and spending time in convincing the wrong elephant.

Year before last, we invested a lot of time in building a solution on one of the biggest cloud service providers. We had a unique solution and we thought that the cloud service provider would take us along where they saw prospects. But inspite of spending more than a year we realized that the technology platform that we were working on was not a priority for them in India. So this elephant was not interested in the fact that we could help it get bananas faster, because it was not interested in eating bananas.

So whether you are going out on your own or you are using my philosophy of riding an elephant you still need to identify that one need in the market which you can address.

Till next time then.

Carpe Diem!!!

Riding the elephant- once again

Marketing, Product Management, route to market, Symbiotic relationship

Today’s post is a short one. You all know my philosophy for a small business in the technology space- ride a large OEM (the elephant) and wherever the elephant goes, you get a ride . In case you are interested I had written around 4-5 posts earlier in the year on this whole philosophy.

Today’s post is about how my team has used the same concept. I have trained some of my team members into following this philosophy and while it took them some time to learn the techniques of first learning to give before asking and building long term relationships.

It took about 8-9 months with our technical and marketing working closely with the OEM to keep building solutions on their platforms without any desire for business.

But now that so many of the OEM’s people see the kind of investments we have made and our commitment to their business, they themselves have started taking us forward.

We are still no way near reaching the full potential of what’s possible with the relationship, but if my team does it right then it can have a snowball effect.

Till next time then.

Carpe Diem!!!

Riding the elephant – using the power of relationships part 3

Marketing, Partners, relationships, route to market, Symbiotic relationship

The best use of this symbiotic relationship is when the customer does not know your company. Due to the relationship that the OEM has either directly or because of the brand association, you get a free ride into the customer.

I remember there was a Japanese consumer electronics giant in India. When I tried talking to them, they were very clear that they did not deal with Indian companies. They would only deal with the OEM with whom they had the global relationship.

When this global OEM however introduced us into the account as the only specialists in that product, they ended up having to do business with us.

Now comes the real story. Once they started doing business, they realised the benefits we offered. So instead of doing business direct with the OEM which was their preferred method earlier, they started routing all the business through us.For almost 5 years till we were in that line of business the customer every year was giving us more than Rs 50 million of business on various products and services.

For the OEM also it was a better deal, because we were taking over all the challenges related to delivery and support across the country, they also preferred that the customer, route the business through us.

In another instance a customer had bought one OEM’s product, but the partner who had sold it, messed up on the implementation of the product. Being a very prestigious customer, the OEM had to get us in to clean up. The result was an amazing long lasting relationship with the end customer.

Since these OEMs are looking at growing very fast to create a dominant position, they put in a lot of sales bandwidth to penetrate the market. As a small company you will never be able to garner this bandwidth. But because of your relationship, wherever the elephant goes, you will automatically reach there.

Consider this as a very critical market penetration strategy to gather a large portion of the market.

Till next time then.

Carpe Diem!!!