E161: 🎓Mentoring Moments #9 | Growing Existing Agency＜＞Client Relationships, Agency Ops/Expansion, Making Time for Content Creation, eCommerce Profitability Imperative and More!
UNLOCKING THE POWER OF INTERNAL RECOMMENDATIONS IN DIGITAL RETAIL
In the dynamic world of digital retail, navigating the complexities of business expansion and networking can often become overwhelming. However, leveraging the right strategies can transform these challenges into golden opportunities. This blog post distills wisdom from industry veterans on expanding your influence within a business ecosystem, specifically focusing on making the most out of internal recommendations and understanding the nuanced approach required for hiring in different business scenarios.
THE ART OF INTERNAL RECOMMENDATIONS
Imagine you've just had a successful meeting with a potential client or partner. The excitement is palpable, but the question arises: what's next? How do you broaden your reach within the business or to other brands under the same umbrella without coming off as pushy or invasive? The answer lies in the strategic use of internal recommendations.
START WITH YOUR ADVOCATE
Your first step should be to connect with your primary contact within the organization, who acts as your advocate. This person understands the business's internal dynamics and can provide warm introductions to other key players or decision-makers within the organization. This approach eliminates the coldness associated with direct outreach, creating a smoother path for collaboration.
WHY WARM INTRODUCTIONS MATTER
Warm introductions offer a personalized gateway into broader business opportunities. They allow you to bypass the initial barriers that typically come with cold outreach. More importantly, leveraging your advocate's network gives you a unique insight into how to tailor your pitch or presentation to meet other stakeholders' expectations and preferences.
AVOID PRE-PACKAGED INTRODUCTIONS
While it might be tempting to provide your advocate with a ready-made script or materials for these introductions, resist the urge. Allowing your advocate to use their own words and understanding of the relationship creates a more authentic and effective connection. It also gives you valuable insights into the preferences and expectations of your new contacts.
NAVIGATING HIRING DECISIONS
Expanding your influence often means expanding your team. Depending on your business's current stage and needs, you might find yourself contemplating the next hiring move. Should you focus on bolstering sales, account management or perhaps project coordination?
ASSESSING YOUR NEEDS
Before jumping into hiring decisions, take a step back and evaluate your business's exact requirements. Are you in dire need of someone to manage day-to-day operations, freeing you up to focus on strategy and client engagement? Or is your priority to enhance your sales team to drive more business?
JUNIOR BDM: A PATH TO SCALING
For businesses looking to gradually remove the founder or a key figure from the day-to-day sales process, hiring a junior Business Development Manager (BDM) could be a strategic move. A junior BDM can learn the ropes, progressively taking on more responsibilities, eventually allowing you to step back without losing momentum.
VIRTUAL ASSISTANTS: THE FLEXIBLE SOLUTION
If your needs are more fluctuating, considering a Virtual Assistant (VA) might be more prudent. VAs can offer the administrative support you need without the commitment of a full-time employee. This flexibility is especially beneficial for handling peak times or project-specific tasks.
THE BOTTOM LINE
The digital retail landscape is bustling with opportunities for those willing to navigate it with strategic intent. Whether it's leveraging internal recommendations to expand your business reach or making smart hiring decisions to bolster your operations, the key is always to approach these opportunities with a clear understanding of your goals and the dynamics of the organizations and people you're dealing with. With these insights and strategies, you're well on your way to unlocking new growth avenues in digital retail.
To learn more, check out the related THE ECOMMERCE EDGE Podcast episode below: