The Business Of Our Business is a quarterly article series featured in Rea’s print publication, The Rea Report. The purpose of each article is to provide readers with greater insight into the inner-workings of our firm.
Research Calls Are Not Sales Calls
Looking for an easy and effective way to gather market intelligence? Look no further than the research call.
Before you ask, no, a research call is NOT a sales call. Instead, it’s an opportunity to interview somebody of importance to learn more about a specific topic. For example, you might choose to conduct research calls on industry thought leaders, competitors, providers of related goods and services, and likely buyers; all for the purpose of looking for more information about your marketplace, a new strategy or … really, almost anything – that is, as long as you’re not looking to make a sale.
Hello?
Not sure who to conduct your first research call on? Start by thinking about what you want to learn about and who you might speak with in order to gain a better understanding of the subject. Again, there are no rules. (Aside from: NO SELLING!) Just identify your subject and reach out to them to request a meeting in person or over the phone.
Who Is This?
Once you make your call and connect with your research call target, explain the reason for your call. Getting someone to set aside an hour of their time to allow you to pick their brain might seem like a challenge, but you’d be surprised how understanding and helpful people can be when you’re transparent with your intentions and respectful of their time. (You might even find that they are actually flattered that you think highly enough of them to seek out their insights.) Once they grant the interview, be straightforward, listen intently, ask good questions, and take time to really understand their answers.
Enough About Me, Let’s Talk About You …
As previously mentioned, research calls should never feel like a sales call. Nobody likes to feel like they’re being sold something. However, there may be times when the person you are interviewing expresses a desire to learn more about you and your business. When this happens, don’t take this as a green light to jump right into your sales pitch. Instead, finish the research call that’s already in progress and request to set up a new time to discuss your services and how you might work together.
That’s A Great Question!
At face value, research calls might appear to be a modest tactic. But at Rea, they have helped us become a better business and resource for our clients and prospects. The key is to use the information you gain from each call to build and execute your strategy for growth and the best way to ensure that you are getting the right information from the call is to make sure you are asking the right questions.
Let Me Tell You More About That …
If you like simple tactics that bring amazing results, research calls are for you. If you’d like to learn more about our strategy and how your business might use research calls in the future, set up your first research call with me. My number is 330.308.6822.
By Don McIntosh, CPA (retired)