Greetings and Happy New Year to all!
After running The Supplier Spotlight contest for five months, I’m beginning to develop a few theories on how it works…
The first theory I call “The Front Runner” theory: You guessed it, whichever submission is the leading vote-getter by the end of the first week wins – every time. All five months. A small sample, yes… but as sure as “the sun will come out tomorrow” (no singing, please), whoever leads the contest after one week of voting will win.
Why is this true, fellow front runners? I say, chalk it up to human nature: We’re a real competitive bunch, we ALL want to win, and none of us wants to be Left Behind. QUESTION: Do you vote for the leading entry rather than evaluate the best idea for your business? Let me know.
Now, for my second unsolicited theory:
Theory #2: “Growing Revenues Rules”
This past month is a perfect example: How else can you explain Overture Promotion’s Submission #3 which eked out a scant 1.45% of the vote! I mean… was Tej Shah (firstname.lastname@example.org), Overture Promotion’s VP, Ecommerce & Marketing the only one to vote for the value of incrementally improving every aspect of your company’s performance?
And how do you explain Submission #2 from Global Financial Analytics earning a mere 9% of the vote other than the fact it was a finance-themed entry: Four Tip$ To Combat A Cash Flow Crunch. An absolutely critical component for keeping your business alive. 9%!?! Actually, it covers one of the most important topics for an SBE. When was the last time you ran your business through an in-depth financial check-up? A thorough review of your A/R & A/P aging & trending, analyzing days outstanding. Overhead as a % of GP. GP of Sales by category. Review each line item on your P&L vs. budget, or vs. 2010 performance? (If you need help, email Carol Phelps, the CEO of Global Financial Analytics for info! This is her specialty!).
My theory suggests Submission #2 crashed in the polls because it wasn’t a tip on growing revenues. Let’s face it. Most of us owners believe all of our problems can be solved with more revenue. After all, Growing Revenues Rules! Let’s look at the brief history of our winning entries:
August: Cpethink.com, LTD – SMART Goal Setting – Increasing revenues/income
September: Fourth Technologies – Reinvent Your Company – Growing sales
October: MotivAction – Employees Drive Significant Cost Savings – No Revenue Growth entries to vote for!!
November: The Sartell Group – Diversify Your Customer Base – Growing sales
December: Havens & Company, Inc. – Turning Customers & Partners Into Sales Channels
The winning topic for this month’s contest? You guessed it: GROWING REVENUES RULES! How else can you explain it?
So, with an astounding 89.9% of the vote, it should be no surprise that this month’s winner is Havens & Company, Inc.! Check out the final voting poll:
In exchange for their excellent effort, Havens & Company, Inc. has earned the following opportunity to promote their company on Supplier-Connection for the month of January (they supply all marketing materials, graphics, etc.):
- Company logo prominently displayed under The Supplier Spotlight banner on the Get Connected page.
- A 200 word description of their business posted on the Get Connected home page under their logo.
- The option of writing an article on the winning idea, explaining the value it brought to the company.
- A link to their website, Facebook page, Twitter account, company blog(s), etc.
- A link to an online sales presentation with audio
- Link(s) to product videos, commercials, and/or their YouTube channel
- Posted links to white papers they might have written
- A link for interested Member Partners or SBE Suppliers to schedule an online sales meeting,
- An email gets sent to all registered buyers from the 9-Member Partners promoting the winner
- If Havens & Company, Inc. can attribute any new customer order to this promotion I’ll follow up by interviewing Lynne Noel, VP, Underwriting & Technical Services and post the interview on The SBE Lifer blog.
And, by now, I hope you know the best thing about The Supplier Spotlight contest is it starts all over again on January 1st. And with 12 Member Partners, including three new Fortune 500’s joining Thanksgiving week (John Deere, Office Depot & Kellogg’s) and more to join in January, and with site traffic for The Supplier Spotlight increasing to over 800 views & votes, you’ll agree Supplier-Connection is where all SBEs who sell to the Fortune 500 should want to be seen.
Every month this marketing opportunity grows in value. So review all aspects of how you run your business. Review the innovations you’re deploying that have made a difference in your performance. Write them up and email the best ones to me no later than end of business Monday, January 9th. Send them to email@example.com to qualify for January’s contest. (For details on How The Supplier Spotlight Works, click here.)
Remember… You can’t advertise on the Supplier-Connection portal for any amount of money.
No you cannot.
The only thing we’ll accept is your best ideas.
Godspeed and may the best idea win!
Dan Gallo Social Media Director & Small Business Advocate, Supplier-Connection Managing Director, The Allasso Group, LLC
The contest is available only to businesses that qualify as a U.S.-based Small Business, that have registered on www.supplier-connection.net, and have completed their Supplier Application. Go to www.supplier-connection.net for more details on the initiative.
CLICK HERE to JOIN THE SUPPLIER CONNECTION DISCUSSION GROUP on LinkedIn
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CLICK HERE to READ how a sales process called Decision MAPping increased win-rates up to 78% on The SBE Lifer
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CLICK HERE to go to Supplier Connection and visit the updated GET CONNECTED page to:
- Download the Presentation and the Q&A session from the 1st Webinar.
- Download the Presentation from the 2nd & 3rd Webinars.
- Read the profile of this month’s winner of The Supplier Spotlight contest.