When the Three P's of Business Misses the Mark
*Note: This article is written from a digital marketer’s perspective.
If you’ve been in business, you’ve heard the benefits of a?people, process, and product model. If you’ve tuned into The Profit on?CNBC, the disputed King of reviving companies,?Marcus Lemonis, will mention the Three P’s as his guiding principle. There may be some dispute on the origin of the Three P’s, but most commonly, Jack Welch created the concept as CEO of General Electric between 1950 and 1985.
In a Nutshell:
People?– find the right people for the correct job
Process?– create a repeatable and scalable process. The process should cover everything from answering the phone to ensuring a customer’s request is fulfilled efficiently.
Product?– Depending on your business, this can be a tangible object or a service. Whatever the case, the product is the final element if you have the first two P’s in place.
The 4th P: People, Again
Fantastic idea! But, what’s next after you have the right people, a solid process, and a good product? In the digital marketing industry, I think the 3 P’s falls short of a potential 4th P: People, Again. I realize most companies will make customer feedback part of the people segment. This P is different. “People, Again” is established to remind salespeople, project managers, engineers, etc., that another person is on the other end of your product or service. This person has put their efforts into creating a successful business or position to help support their families, pay bills, and build a career. Think of the 4th P as mindful selling.
领英推荐
Mindful Selling
In 2009, I worked for a digital advertising company. The product’s core demographic was adults 18-34. It was a fantastic company with a great product. One day, the local Cadillac dealer inquired about using our product. After speaking with him, I told him his product was not the best fit.
But, in some situations, salespeople do not have the luxury of turning down business. For example, if it’s the end of the month and you are one sale away from making your budget, do you have the authority and security to turn down a potential deal?
Mindful selling is recognizing when your product or service is a fit for a potential customer. If your product or service doesn’t fit, gracefully decline and advise the potential customer on better options.
Your Marketing Business is a Service
Power Marketing is a service. Our primary products are websites, hosting, and search engine optimization. But, we are “selling” peace of mind. If a client has an issue with a broken link on the website, SEO traffic has dipped, or their email suddenly stopped working, our team is prepared to respond with an in-house specialist immediately. That’s why we incorporate support and maintenance into every hosting contract. So, if a website has issues (and all websites do at some point), Power Marketing is one phone call away.
Five Tactics to Support the 4th P
Focus on the 4th P
Whether you are working with a company with three employees or a marketing director of a $100 million company, the person on the other end has trusted you with their project. You create a win/win relationship by focusing on the 4th P.
Account Executive at Full Throttle Falato Leads - We can safely send over 20,000 emails and 9,000 LinkedIn Inmails per month for lead generation
6 个月Scott, thanks for sharing! How are you?