Getting Back to the Fundamentals
It's time. I've been sharing this story with suppliers in business meetings over the last year, but now, it is time to bring this dialogue to the forefront more publicly. Together, I hope we can make the necessary changes to advance as an industry. This topic will likely come as a surprise to some, and some will expect it but regardless, it's vital for our collective progress within the industry that we open the dialogue.
First, it is no surprise that this industry is event heavy. The significant financial contribution to these events is no secret. These funds support a wide range of activities: from events, being named on podcasts and newsletters, email campaigns all the way to social media engagements, movie premieres, educational summits, golf tournaments and major annual summits. It is important to note that as our industry matures, these events are getting better and are more focused on building value for the Trusted Advisor, TSD and the supplier than ever before. These events are also a great way to naturally connect with Trusted Advisors and there are several best practices while at these events to connect to as many of them as possible.
At almost every one of these events, we, the suppliers, not only enjoy ourselves but also forge new relationships within the community of Trusted Advisors. Moreover, we return with the much-valued list of attendees. This list is the gateway to revenue and numerous opportunities, but only if we engage in diligent follow-up.
Here's the story. Last year, I participated in a national event, attending as a Trusted Advisor, alongside my business partner, Kameron Olsen. In the ensuing 12 months, we were inundated with emails from suppliers, or more accurately, their marketing teams.
Despite the thousands of emails received in the year following the event, Kameron and I have only gotten one phone call as a follow-up. Considering there were over 300 suppliers present, it's startling that just one company, one person at that company decided to reach out directly by phone.
Whether or not you were at this event isn't the focus. I'm not here to single anyone out. Additionally, it doesn’t matter which event this was at as history tells me that this happens at nearly every event in this industry. Instead, my aim is to propel us forward as an industry.
We're all familiar with the industry adage about the three-legged stool: the supplier, the TSD, and the Trusted Advisor. Success for one spells success for all. As suppliers, it's time we return to the foundational practices, the fundamentals that fueled our success in the past. We need to start making phone calls again and re-embracing the basics that have always been at the core of building strong, lasting relationships.
If you missed people at the event, don’t worry, you will likely get a list from the event host. You can identify the partners you met as well as those you missed and you won’t have to dig through LinkedIn accounts or Google searches to find them and their contact information. At minimum we should make phone calls but as we do that, we need to make sure we are buttoned up with best practices in our elevator pitch, we should connect with them on LinkedIn, do research and make sure they are a partner worth reaching out to. But we can’t stop there, there are numerous ways to connect with partners and it’s not just a phone call. If you are not sure how else to find success, follow us at The Channel Advisors™ for best tips and tricks as we are releasing the first industry’s best practices guide. Stay tuned. I am convinced that the financial asks tied to events will be less a talking point as we generate more meaningful ROI from these events. I am convinced that we will generate more meaningful ROI from these events by getting back to the basics.