Buried Treasure: How to Uncover Hidden Sales Value
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Transcript of Buried Treasure: How to Uncover Hidden Sales Value
BRASS 2014
BRASS 2014
Today’s Goal
Draw a new parallel
to expand lines of thinking
in order to find hidden value
for sales and retention.
BRASS 2014
• Independent third parties
• Fill a marketplace need when capitalism expands into
uncharted territory
• Swift and nimble in response to government action
• Created and strictly upheld self-regulated sets of
standards
• Relied on a powerful name and reputation
The Pirate Parallel
I. Thinking Like a Pirate
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Thinking Like a Pirate
Start
Charting the Map
X Marks the Spot
The Treasure
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Thinking Like a Pirate
I. Thinking Like a Pirate
Pirate (noun)
Middle English:
from Latin pirata,
from Greek peiratēs,
from peirein “to attempt”
BRASS 2014BRASS 2014
• What do you already have in your sales stock?
– Advantages of BBB Accreditation
– Programs and services
• Charity review
• Arbitration
• Ad review
• BBB Smart Investing
• BBB Military Line
• Other localized programs
1. Take inventory before action.
I. Thinking Like a Pirate
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2. Sharpen reaction time.
• Pirates used shrewd, nimble movements and the
element of surprise to win.
• Personally: Knowing tools and resources well
will help increase successful, quick use.
– Post visible reminders
• Organizationally: Watch the horizon for new
opportunities; quickly respond to meet needs.
I. Thinking Like a Pirate
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3. Size doesn’t matter.
• Innovation: how small pirate crews outsmart large ships
• Example: Nintendo vs. Sony and Microsoft
– Smaller company and market share competing head-on and
failing against better-sourced rivals
– Could not win “arms race” of processing power, sophisticated
technology
– Opened new avenue of attack based on niche idea
– Gained access to new customer base
I. Thinking Like a Pirate
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4. Use the name.
• “Nobody would surrender to the Dread Pirate Westley.”
• Merchant crews often surrendered without a fight the
moment they saw Blackbeard's flag.
• Our name precedes us:
BBB means trust.
I. Thinking Like a Pirate
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5. Raise the right flag.
BBB
Leadership
Information
Networking
Trust
Awareness
Community service
Corporate philanthropy
Education
News
Recognition
• Which flag should you raise?
• Which flag is the target flying?
I. Thinking Like a Pirate
BRASS 2014BRASS 2014
• Valuable products and services can speak for
themselves.
– 90 percent of consumers trust recommendations from
people they know.1
• Engage other publics to speak on your behalf.
– Board members, ABs, consumers, program and
service users, thought leaders, government officials
– Explore alternate centers of influence
6: Let others talk for you.
I. Thinking Like a Pirate 1According to a 2009 Nielson study.
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Charting the Map
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1. Map your own path.
• How do I touch businesses?
• How does my office touch businesses?
• How does BBB touch businesses?
II. Charting the Map
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2. Follow the clues.
• "There is more treasure in books than in all the pirate's loot on
Treasure Island.”
― Walt Disney
II. Charting the Map
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Cross-Promotion
X Marks the Spot
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Cross-Promotion
A set of activities that are designed
to help a company sell two or more
different products, or to help companies
sell their products or services together.
III. X Marks the Spot
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Why it Can Work
• Increases market share
• Expands brand awareness
• Enhances credibility
• Offers different resources
• Diversifies portfolio
• Sum of parts is greater
III. X Marks the Spot
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BBB Examples
• Ferrero– National Partner Program Children’s Food & Beverage Advertising Initiative
• Council of American Survey Research Organizations– EU Safe Harbor National Partner Program
• National Pest Management Association– National Partner Program AB
• McGraw Hill– BBB Military Line AB
• Maserati– BBB AUTO LINE National Partner Program
• Building Performance Institute– BBB microsite sponsor National Partner Program
• Quarles & Brady LLP– AB National Partner
III. X Marks the Spot
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A concentration of riches, often one which is
considered lost or forgotten until being rediscovered.
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1. The Treasure
• The biggest assets we have are:
– People
– Information
– Expertise
– Businesses
– Brand
• What forms do these treasures take?
IV. The Treasure
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2. Keep hunting.
• Reexamine value regularly every 3-6 months.
• Add Google Alerts with keywords to help search.
• Hidden treasure is always there, and the tides
are constantly changing.
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3. Keep an eye on the horizon.
• Sharp eyes and ears help spot new value
• Listen and watch to business and industry needs
• Survey key publics
• Subscribe to internal, business, industry, and government newsletters
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Key Takeaways
1. Reexamine and review existing sales value.
2. Chart new value by exploring “hidden” BBB
brand channels.
3. Treasure can be anywhere.
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The Goods
• Newsletters
– FTC: https://www.ftc.gov/stay-connected
– SmartBrief: http://www.smartbrief.com
• Visualization
– https://bubbl.us/: Mind mapping site
• Pirate Reading
– The Secrets of Cross-Promotion. Inc., 2014.
– Pirate Copy: What managers can learn from Somali pirates. The Economist, 2010.
– The Pirate Organization: Lessons from the Fringes of Capitalism. Harvard Business Review Press, 2013.
• National Partner Program Intranet FAQ Page
• National Partner Program microsite
