5 Business Saving Examples of New Thinking
Einstein said, “We cannot solve our problems with the same thinking we used when we created them.”
Einstein’s advice to CROs and those who will survive because of successful growth of sales and profitable revenue, frames this generation’s most daunting challenge.
The thinking from the past (even the recent past), is a threat. Before, the thinking from the past might have been seen as a strategy, a tool or an asset. The thinking that works today, will be tomorrow‘s “thinking from the past”, which creates damage, as the next series of business risk.
Even a few years ago, who would have believed that the internet and social media would rip the relationship control from the manufactures and sellers to the buyers? Who would have expected having a large experienced sales team could be replaced by opt-in marketing and conversations with a perspective buyer by chat or through online webinars? Who really expected malls to be replaced by Amazon, eBay, and for Expedia to eliminate human travel agents.
Einstein’s message is telling the CROs to watch for things like:
1. Less is more – the world won’t believe you can successfully do anything for money. Develop a very specific Revenue Strategy based on “Buyer Problems” that you uniquely solve for buyers who find this problem compelling and worth paying for.
2. As you deploy your Revenue Strategy, measure behavioral outcomes that make it easy for a customer to opt-in. Understand how the problem they need solved is the same one you solve, to preview what the world would be like with that problem solved by you, and receive the full value previewed in the selling function.
3. Message everything from the buyer’s frame of reference. Buyers don’t care about your company history, locations, number of staff, product details or the fact you take Visa, until they believe they can trust you and you have the ability to solve a compelling problem for them.
4. The thinking that created these problems used words like wallet share, up sell, cross sell, sticky contracts and customer ownership. This is HQ out thinking. STOP doing that and learn to think and communicate with the buyer.
5. Avoid setting your pricing based on your costs and required return. Customers DO NOT care about your costs or your return. They care about the value they get when you uniquely solve their problem, proving more benefits to their business than ANYTHING else they can do.
Einstein would be proud of CROs who are in business to make money with their buyer’s by delivering value based on thought leadership that results in the buyer’s business being better off than anything else the buyer could have done.
These CROs must continuously improve their growth of sales and profitable revenue over time, because they measure the behavioral outcomes from the buyer engagement, not activity. The CRO knows that activities are what produces the behavioral outcomes on the part of the buyer. Those activities increasing the right behavioral outcomes and sales deserve additional investment (until they don’t). Once an activity levels or decreases, the CRO knows the buyers need at least new engagement activities and probably more / different value for the problems being solved.
It is this awareness of the buyers changing world that would make Einstein proud. For too long, there was no recognition of “We cannot solve our problems with the same thinking we used when we created them”, so when we saw the outcomes from the activities decreasing we would fire those doing the activities or invest more in those same activities because “that is what we have always done.”
Make Einstein proud and get “Revenue Science™” certified, develop and deploy a Revenue Strategy and apply the science to take advantage of the extreme changes that will eliminate those who don’t think like a CRO and apply “Revenue Science™”.
Upcoming Revenue Science™ Certification Classes:
Beginning
June 9, 2017