How can I reach them out?
I’m currently reviewing chapters 3 and 5 where it’s described how we can learn about our customers/market.
This is the part that particularly resonates with me, as it’s something I’m doing on a daily basis. The problem I struggle with the most is that in order to obtain the data from potential market/customers (get inspirations) – you have to observe or interview people (through behavioral observations/exploratory conversations).
In my case (B2B market), usually, these people have senior-level jobs in big corporations (high-pressure work environments). Given responsibilities they have and limited-time for tasks they need to accomplish, it’s hard to get them to talk to you on some new ideas (it’s not a priority for them) – especially if you don’t have any relationship with them (why should I share my problems with somebody I don’t know).
I wonder if you maybe have any tips/recommendations on how we could reach out to such people and make them talk as I believe the hardest part is to ‘steal’ some of their time?
Really good question Daniel. It is hard when you are selling B2B and the target customer is a very busy mid to high level executive. That is good news (they can get stuff done and have juice in the organization) but they are hard to reach. All I can say is that you have to work your ass off to get the first one. Do a lot of secondary market research to get up to speed but don’t get locked in by secondary market research and certainly don’t be a “smarty pants” with others because you have read some stuff on the internet or elsewhere. The SMR (Secondary Market Research) allows you to sharpen your questions. You should do immersion as well. Go and do an exhaustive personal run through of the customer experience for their product. Be meticulous in synthesizing and recording what you learn from this. Read all the blogs and customer reviews of their product as well. Just get really damn knowledgeable about their company like a consultant would. Then find a way to get your break to get in front of them. Trade shows where they are presenting might be your opening. Get to them before they present and show how much you care about what they have to say and show that you are intelligently inquisitive. You may have to use personal connections to get to your first person in the target customer group. But once you get your first one, treat them like gold and get them to refer you to others. You have to do a GREAT job with them or you won’t get a second chance. They are you gateway in. Go above and beyond with them and make them feel great about introducing you to others. This is just hard work. I hope this is helpful and I can tell you it works but you have to be hard working, creative, persistent and empathetic. All you need to do is get that first one and treat them well and they will open the gates of heaven for you.
Thanks, Bill for your help – I really appreciate it!
Geography really, really matters as well. There is a reason why a few cities top the charts in innovation each year, and that is because the decision-makers are located there and they are open to hearing from “outsiders” to integrate new products and new ideas, and to actually pay startups when you do so.
This is one thing that is fantastic about the Boston/Cambridge area in the US. I went to a conference, paid my normal registration, and I heard the CEO of one of the top five pharmaceutical companies in the world give a speech. I was working with a startup developing a technology that he mentioned was part of the “future of our company.” So I walked up to him after his speech and told him “you know how you mentioned [x] is important? I have a company solving part of [x].” On the spot I got his business card and an opportunity to follow up with his office.
This doesn’t happen everywhere in the world, because you need the right conditions:
- A decision-maker has to be physically present there. (Boston is the number one city in the world for biotech.)
- The context of the event where you meet them has to be just right where they are primed to hear a pitch from you. (He had been invited to talk about open innovation and what they are looking for in terms of collaboration with universities and startups).
- The event venue was set up with a shared space for participants and VIPs to interact. (Believe it or not many conferences are set up specifically to keep VIPs away from the “riff-raff” and they get escorted in and out private entrances. On the other hand, most events in Boston, especially events in and around the MIT campus are designed to be open for novices to have a chance to put their first foot in the door.)
Depending on your industry, different cities can provide various opportunities, and of course, don’t ignore the power of LinkedIn. Even if you cannot travel, you can do an advanced search for specific positions, specific industries, and specific cities. Like Bill said, it will be a lot of hard work, and you have to be meticulous in preparing to reach out to them. That said, you will find that many professionals are willing to spend their time helping you understand their own industry if they see your are making the right efforts to provide value that would help them, even if the actual product will be released at some point farther in the future.
Hello Daniel,
I see in LinkedIn that you’re based out of Gdynia – beautiful spot. I was there for a meeting last year with a local manufacturer.
I certainly agree with Bill and Mario’s comments. I was recently on a video chat with Jesse Itzler, an energetic American entrepreneur, and asked him a question similar to yours. His words echo Bill’s: Work really hard on that first contact so that they are impressed and will continue to collaborate with you. Even if you initially lose money on that first relationship, the dividends will be worthwhile in terms of future business and references.
To Mario’s point, location does matter but that’s not something you can always control in terms of company location. However, you can certainly attend events and pre- and post-event times when you can approach someone are great opportunities to meet someone. However, like you mentioned, these people are busy and meet many people at events. Therefore, you have to provide something that they perceive as valuable and which shows you are not just showing off or trying to sell something. For example, you could say: “I noticed that you have mentioned XXXX as an important strategy going forward.” (this could be from the talk the person just gave, an interview, an article or a book the person wrote). Then, you can follow it up with something of value: “I think you could solve this by doing YYYY.” These kinds of conversation will catch someone’s ear. (This is also where Bill’s comments about researching your customer come in).
Do widzenia i powodzenia,
José