It is a generally understood that if you want to make a sale you have to go directly to the source. This begs the question, who is the "source?"

The term "source" often refers to the decision maker. With regard to business transactions, one might be surprised to learn that the end consumer is often not the decision maker. Identifying the decision maker is one of the first steps to effective business marketing.

Let me give you an example. Let's say that you sell life insurance. You understand that there are many consumers out there who need your product. You also understand that very few of these consumers actually reach out to initiate the sales process as they do not fully recognize that they need your product. Your clients consist primarily of high net worth individuals, business professionals, and small business owners. You know that these would-be clients are already working with attorneys, investment advisors, accountants, property and casualty insurance agents, professional bankers, and others. So who is the decision maker?

You may be inclined to say that the net worth individuals, business professionals, and small business owners who pay your fees are the decision makers. After all, they are the ones who buy your products. More importantly, they are the ones who pay for your products. These individuals usually are not the decision makers.

In most cases, the other professionals who work with the end consumers are the decision makers. This includes the attorneys, investment advisors, accountants, property and casualty insurance agents, professional bankers who are currently working with your would-be clients. These are the individuals who understand that the end user needs your product, they understand that your product costs money, and, hopefully, they understand the benefits of helping their clients buy your product from you. A business referral to you from one of these advisors typically results in sales, as the end user will typically accept the advisor's decision.

Having identified the decision maker for your product, you can now design marketing activities to increase the chances that you interact with these decision makers. This may include attending professional education or training meetings, volunteering for trade groups, authoring business articles, deploying targeted advertising in trade publications, participating in a leads group, or other similar activities. This makes business marketing a numbers game that can be refined over time to produce results. Unfortunately, this is a time consuming and costly process.

This is where Passitto comes in. Passitto aims to be the place where likeminded advisers who work with your would-be clients go do find you. Why would they do this? It's simple. They do this for the same reason that you do this. They want your referrals. Think about it. When you sell a life insurance policy, you are probably going to learn that your clients need legal, investment, real estate, and other insurance services or products. Given Pasitto's unique credit-based auction system, if you refer these clients to other professionals using Passitto you will increase the chances that you will receive incoming business referrals from other advisors. It is that simple. The more you send, the more you receive. This is the same principal that works offline, but using Passitto, it is more efficient and can be deployed on a mass scale. In this sense, the "source" of business is actually Passitto.

Labels: business, decision, exchange, leads groups, maker, marketing, passitto, referrals, source

posted by Passitto  # 8:13 AM