If It Ain't Broke, Fix It (Before You Have to Replace It)!
Brian Basilico
Helping Mid-Sized B2b Business Generate Impressive Sales - Fractional CMO/CRO (Marketing/Relationship) & EIEIO (Engaging/Inspired/Enthusiastic/Interest/Optimizer) - Blending Traditional & Innovative Marketing for Sales
The Flat
A few weeks ago, I had a bad car week. I had just had surgery and had to go to a follow-up visit the day after another doctor's appointment. I walked out into the garage to recycle some stuff and noticed I had a flat. Because of my surgery, I could not change my tire. Add to that, the next day was a pending snowmageddon. North Carolina shuts down since they don't have plows or salt for roads, and companies close till the snow melts.
I had two choices: ask for help or call an Uber to get to and from the appointment. Either way, I was going to need help to change the tire. Luckily, there was a neighbor home, so I took the spare (that had never been used in 14 years) and switched it out. I made it to the appointment just in time. On the way home, I stopped at my favorite auto repair shop and asked them to fix the flat.
They said it could not be fixed and, because I had all-wheel drive, I would need a new set of four tires for $700. I said, "Let me think about that." I did not have a backup plan, but I knew the tires would probably outlast me and this 14-year-old, fully paid-off car.
Wanting a second opinion, I made another stop at a local tire shop. I dropped off the tire because they were busy and asked them to call if they could fix it or quote me a new set.
I got a call about 3 hours later saying the tire was fixed and I owed them $18.
The Light
My check engine light came on as I was driving home from another appointment. "Oh Crap" may or may not have been uttered, but there was no question which auto repair shop I was taking it to.
The snow started falling, so again, I stopped at the tire repair shop that had fixed the tire. They said they could not look at it because everyone was trying to beat the snow but to bring it back at 8 a.m. on Friday.
So I showed up at 8 a.m. on Friday. There was still snow on the ground, but the warm-up was coming. After they did a diagnostic, they said that the check engine light was because my car was low on oil. I have been diligent about getting my oil changed every 3000 to 6000 miles, so that told me that my old girl was starting to burn oil or I would have seen leaks on my garage floor.
I could only imagine that my old auto repair shop would have suggested a new engine or complete overhaul for $10,000 or more, but I paid $120 for the diagnostic, a synthetic oil change, and a tire rotation.
The Takeaways
First off, trust was broken. My old repair shop seemed caring and to the point, but their desire to get me to spend $700 on an $18 problem made me think, "What else have they withheld that has cost me too much in the past on a 14-year-old car?"
Trust was built. The local tire repair shop was honest and did not push any additional services they could have. At that lower price point, I could have been talked into a tire rotation, balance, and even a tune-up on my spare. That easily could have been $200 or more, but they did only what was needed.
The first company could have told me I should get a second opinion and shared the name of a tire shop they partner with BEFORE I went all in on a new set of tires. The second company showed that they have multiple locations and have the bandwidth to deal with small and big problems when needed. That gives me a sense of security and expertise, especially as I want to limp along in my 14-year-old car a little longer without dropping thousands to keep it going!
Marketing Yesterday
My customers and others have heard that our current economic environment is crazy, volatile, unpredictable, and worrying. That means that there is a reflex reaction that causes companies to pull back on spending.
This usually comes first with marketing and capital upgrades before it affects what companies consider core operating expenses, like people, sales, and general operating costs.
I have already been told to scale back by some clients (which is what I preach NOT to do), but what really concerns them is that what they sell is getting more expensive, which will cause their clients to scale back or cancel equipment orders altogether. They are not wrong when something costs 25% or more today than it did yesterday.
Marketing Right Now
Having been in this situation before (2001, 2009, 2020) I have seen two things that not only keep business afloat but can grow market share and revenues exponentially:
While people and companies may be hesitant to bet on the future, they're not willing to forget the past. They will remember when systems or services were interrupted by broken or outdated hardware and software. They may be willing to do a check-up or evaluation or even repair broken stuff that they have been slow to repair in the past. This is an opportunity for you to remind them that you are their go-to partner for repairs, retrofits, and upgrades.
It's also great to have your sales staff reach out and do a check-in with current and past clients to get a pulse of how their business is doing right now. Remember to capture and document those conversations in your CRM.
Finally, it's the worst time to pull back on marketing because most of your competition will be doing just that. You can be the voice of reason and proactive thought leadership. You have a better chance of getting your messages seen and probably creating new or timely conversations that will keep your sales flowing as you fill the gaps left by companies pulling back on capital spending.
Closing Thought
Imagine if the car repair shops sent out a "Free Spare Check" or "50% off Check Engine Light" diagnosis. It would have gotten my attention, as I am sure it would have for others, too.
If your company is in the repair, retrofit, or preventative maintenance business, now more than ever is the time to promote it.
There is always an alternative, like when I had my flat tire. I could have called an Uber to get me back and forth from my appointment, but that would have cost me over $200 with tips. It would have hurt a bit. But I was much more satisfied to pay to have my tire repaired and get my check engine light off... all for one-half of that cost. Who do you think I will trust my car with now and in the future?
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Career Transformation Coach | Guiding Business Leaders and Solopreneurs to Infuse Work with Meaning, Freedom & Fulfillment | Creating Tangible Success | PhD in Transformative Leadership
6 天前Great insights on the power of trust!