Many white-collar small business owners are stuck in "The Matrix", the movie starring Keanu Reeves and Laurence Fishburn. Similar to the theme and plot of "The Matrix", small business owners are hoping new sales will magically appear because owners have the right certifications from the right colleges and addresses are at the right locations.
By definition, 321 Biz Development defines white-collar small business owners as those who sell products and services starting at $1,000. White-collar business owners include: attorneys, CPAs, dentists, plastic surgeons, insurance brokers, real estate brokers and others.
The matrix is suitable for marketers selling products and services for $10-$100 since this price range is within consumers' discretionary spending.
321 Biz Development uses the matrix vibe to highlight how white-collar small business owners unknowingly use unsuccessful business development strategies to add more clients.
321 Biz Development saw the matrix grow due to social media's popularity. As it became easier to post video and picture promos, business owners confused digital marketing activities with sales productivity.
There's a huge difference between digital marketing activity and sales productivity.
Digital marketing does not create a sales funnel to track and measure contacts' progress in the sales cycle. For example, a social media "like" rarely converts to a sale.
In contrast, sales productivity has five components: contacting, prospecting, appointment setting, closing and getting zero-cost referrals. These five components can be tracked and are measurable.
The biggest difference between digital marketing activity and sales productivity is personal input. Digital marketing does not require the business owner to be involved other than appearing in videos. Sales productivity puts the business owner or his/her staff with the potential customer at the beginning of the sales cycle.
Sly Stone was born in Texas and raised in the San Francisco Bay Area. My favorite lyrics from this song is: "Number one gonna be number one".
321 Biz Development clients can be number one, too.
Thanks for reading this article and listening to the podcast episode.
Rick Nappier, President
321 Biz Development