One would argue that no matter what you role is in any company, one of your primary responsibilities is to always promote the brand to those on the outside. Each of us interacts in some what with the public. From the person who answers the phone, to the person who handles invoices or inventory. We do not exist in a bubble that allows us to operate independently of others within our place of employment.
Because of our influence on the outside world, especially those we consider in our target market, it is imperative that we are properly trained and prepared on how we can drive revenue. But how can everyone within a company accomplish this? The answer? The “monkey paw.”
The monkey paw, in the marketing world, is a low-cost or even free thing that creates an entry point to your company. Similar to the process by which a large cargo ship enters the harbor and prepares to dock. Rather than simply dropping anchor, a crew member will begin the docking process utilizing a small, light rope with a large knot at the end. The large knot at the end of the rope is referred to as a monkey paw. The person on the dock catches the monkey paw and attaches it to the pier. The monkey paw is attached to thicker, heavier ropes and then chains that are eventually attached to the anchor. This process allows the cargo ship to safely and slowly dock.
In the business world, what would be your monkey paw? What does your company do or offer to potential prospects that doesn’t require full buy in? In other words, without necessitating that huge leap of a $5000 investment, what do you and/or your company offer that slowly builds that credibility and trust essential in any sales process? Examples of a monkey paw in business would include:
- Speaking Engagements
- White Papers
- Free Trials
- Relevant Content Marketing
All of these examples provide value, yet don’t require a substantial investment. They allow prospects to build their comfort level (trust) and your credibility first. They in turn share with others the value they received (word of mouth marketing). Eventually, when trust, value and need converge, revenue is generated. Typically, the larger the investment, the longer the selling cycle and monkey paws allow you to shorten that cycle.
Keep it simple.