There is going to be a bit of an offbit in this newsletter. Since I'm focused on to help people who are looking for building a business with WebAR, it is important sometimes to take a step back to focus on the most obvious fundamentals of business success.
Lately I am reading a lot about business success guides and I decided to share my thoughts with you this week. My list of suggestions are mostly focused to b2b business since it is easier to scale a B2B business than a B2C. However, you are welcome to modify them if you find them useful and effective for B2C or B2B2C businesses too.
Why it is important to focus?
WebAR is a new technology and many new things coming up constantly in the market, it is often a puzzle for the businesses to prioritize the right step. We all have a flight or fight mechanism in-built in our DNA while getting encountered with new situations.When WebAR is presented to the decision makers, down prioritizing is often a safe flight mode activated in their minds to avoid taking hard and complex decisions.
Growth starts to happen at the end of comfort zone. This is same for businesses too. Especially if it is a well informed calculated risks, history shows that it mostly wins over again and again with bigger ROI than previously thought. But how can you make sure you deliver the right message to close a deal?
Step 1: Work on ICP
The chances of landing a successful deal increase a lot when you start talking to the ideal persona from the target company. Your Ideal Customer Profile is quite important because if a person with whom you're talking with, does not hold the decision making power, can often lead to loss of a deal. Do your research more and try to find out who is your ideal ICP profile. Is it owners, sales head, marketing director or ecommerce director or is it is different set of people that you need to talk to.
Step 2: Multi-dimensional approach
Cold mailing was such a powerful approach but a decade ago. Many SaaS unicorns were built the last decade based on cold emailing only. However with the advent of many different digital channels, customer reach out process should take a step up in the game. Find out your ICPs across LinkedIn, connect to them while you are sending the cold emails and give them a reminder that you have sent a mail to them. This will help your email not to be lost in the spam or junk folder. If your ICPs are more dominant in other social media like Insta or elsewhere, reach out to them there too.
Step 3: Take up your phone
No, I'm not going to advocate you to be The Wolf of Wall Street (although if you become one, I'd cheer up for you). But old ways of selling seldom dies. Take up your phone and ring your ICPs. What could be the worst outcome? They can say 'No' to your proposal. But following them up over a phone along with a cold mail strategy can be a killer approach. Study says, it can increase your meeting booking chances from around 6% to up to 20%. Why would you leave money on the table by not calling your prospects?
Step 4: Use Case Studies
So you have the first encounter with your prospect or maybe they found your mail interesting. How to convince them that your service is so trustable where they should invest? In B2B world, for any procurement decision, at leats 5-6 people are often involved. So impulsive buying is perhaps never gonna happen there. That is where your data backed case studies and customer references matter the most. Help your prospects to understand the ROI with proven case studies and see their confidence grow towards your service. This will definitely make a difference while closing a deal.
