It’s not really a chicken or egg question. Problems will generally come first before their solutions. And in industries where solutions requires a lot of tech, this is something often ignored in their lead generation strategies.
Of course, maybe companies in this sector shouldn’t be blamed. Innovation certainly seems to lie at the heart of Silicon Valley types. There’s always a race to produce something new, something revolutionary. There are times though when the need to discover something new isn’t always the same as the need to find better solutions.
This is the trap that ensnares the marketing and product decisions of many tech firms. Even Google isn’t spared (case in point: the ups and downs of the Google Glass project). Sometimes the drive to present something new takes higher priority than creating something that provides greater value to customers.
For the record, this has never been meant to say that companies shouldn’t market anything new at all. It only means that if you’re trying to pitch something new, always make sure it’s something that addresses a problem.
And really, it’s not like the rest of the working world is always short on problems that need fixing. When you neglect to identify a problem, you end up committing some of these serious sins against business:
- You come off as out of touch – You know you’ve already lost when a prospect wonders if they even need your products. This shouldn’t happen in an age where you have more capacity to understand the needs of your target market before you even make contact.
- Your products become a costly splurge – Even if you’ve somehow managed to convince a prospect to sign the deal, low satisfaction and underuse will only make the investment look like a money sink. This could’ve been prevented if you placed a stronger focus on a particular problem and presenting it as the best means to solve it.
- Your cure becomes worse than the disease – Sometimes the quest for novelty gets so bad, you end up solving a problem at the expense of only creating more problems for your target company. For example, think of implementing an EMR system but failed to reduce the amount of medical paper work still being done. What have you really accomplished besides just adding more to the workload?
You should never mistake the act of prioritizing problems with that of actually creating them. The difference is that your prospect ultimately sees the value of a solution because they see the problem too. That’s why you should always put them first in your lead generation strategy.