It’s something of a stupid romantic cliché but it can have a shocking relevance to B2B relationships as well. Some prospects look upon a particular service or product and deem themselves ‘too good’ to see any use for them.
A knee-jerk, if not all too emotional, reaction would be to dismiss such prospects as arrogant and choosy. However, should that always be the default response of your lead generation strategy?
Normally, it would be a waste of time trying to convince a prospect past this point. But for some industries, this is usually a point reached by a prospect even before they knew your organization existed. These would be the kind of prospects that are generally shunned by your industry as a whole (your competitors included). This ignores the following risks:
The rise of a disruptive innovator – Oftentimes the most difficult competition is one who has gone to where no one else has gone before. That could include a target market that was deemed impenetrable due to seemingly low demand. However, if just one realizes a means to challenge these barriers, you and the rest of the industry are at a disadvantage.
- Professional pride ignoring facts – It’s not hard to find an example of people opting for professional pride rather than face the facts. This article on journalists’ attitude towards new digital advertising is one example. The nasty thing about facts though is that it can be painful when they finally win out. Look at the deadly price the legendary John Henry had to pay just to beat his mechanical replacement.
- Radical change in industry – As with journalism, the 21st century is becoming an age when practically every industry finds itself in radically new paradigms. What was once not needed before is now desperately sought out. Whether it’s medical databases or multi-channel media, you can’t think an industry will forever be without a need for your services.
Some might argue that the above risks aren’t always a constant threat. But when you feel like you need a new target market to expand or discover a new demand, a good place to start is actually the industries that appeared ‘too good’ for you to be of any relevance.