No one likes a receiving a cold call, we all know that, but no one particularly likes doing them either. So why is this technique still the main avenue of gaining opportunities for the majority of suppliers?
Anyone in a competitive industry will always cold call because companies won’t call for help in a competitive market. They can be spoiled for choice so calling the business is the only way show you’re better than the competition. It’s a long process, it annoys businesses. It costs our economy with all that wasted work too. A 1-10 call conversation rate would be considered as excellent. That’s 9 calls you’ve had to make and at the cost of someone else’s time in the other 9 prospective businesses.
To top this off, I find an engagement that starts with this often create a ‘work for’ rather than a ‘work with’ relationship. It’s never as productive as it could have been the other way around.
Simply create an avenue where businesses can go to register their interest in working with you. Have a well marketed annual review for these to suppliers and invite them to explain why they deserve the opportunity to work with you.
This resolves some big issues straight away. It prevents already embedded suppliers getting complacent, but it would create healthy competition too. This means you get the best service. The benefit relevant to this blog is, once these companies know that’s your process, there’s no reason to keep calling you all year round.
It would also free up the phone line for relevant calls from clients or prospects you can convert that you may not have been able to previously. The outcome of this to a company’s output would be unquantifiable, literally, but we at least know it wouldn’t be negative, that’s for sure.
We all know knowledge is power, right?
And I guess the more people you know, the more knowledge you have access to. That makes it’s important to network in any job, or even in your personal life.
The reason this concept can be challenging to follow through with is we can’t always see the benefits of networking until they happen. That’s why you go so it can seem pointless initially. However, when you’re in an environment of like-minded people, this networking happens effortlessly instead with great results.
Information sharing only works where rapport between individuals is there. Considering this when creating a recruitment strategy, isn’t it crucial new employees integrate well as a team to promote this? If that’s the case, shouldn’t this influence the way we choose who’s really best for the business? The recruitment process we all know focuses purely on academics. Without seeing someone’s personality through the application process it’s hard to tell someone’s suitability.
This has a significant impact on the overall well-being and productivity of any workforce. You will either get ideas during team brainstorms collaborating the best of each other’s thoughts. Or you get the same idea you would have had from the most forward individual on their own. Poor communication is often the cause and could be prevented if the way we apply focused on this.
People would enjoy their working environment more having a positive impact. The reason it’s necessary is that it retains industry knowledge gathered within the businesses network and is shared with new employees! More efficient, more enjoyable and more profitable!