Sandy Hubbard02.27.24
Imagine you’re flying around on a Starlink satellite. You’re 300 hundred miles above Earth, looking down at your company and all your competitors. Each company radiates a golden glow. The glow represents the strength, scope, and story of your market positioning. Is your glow warm and widespread, or is it merely a speck?
Whether you’re considering selling your business or simply wanting more customers, the quality and size of your glow – aka your positioning – is crucial.
Today’s customers and buyers of businesses are looking at how your business presents itself as an aggregate – the total glow.
They’re looking at more than how a salesperson interacts with them or how your website looks.
These reports could include:
your positioning.
Here are items you’ll find on a Stink Test:
I know what you’re thinking. Are today’s customers and acquirers really that sophisticated? Can they accurately view my business based on all these disparate factors? The answer is yes – because the tools are readily available, easy to use, and often free.
Whether the view is accurate is up to you and how you control it.
One of my buddies heads a family office. He’s always looking for companies to acquire. When we’re on the phone, I can hear him mindlessly scrolling databases. Sometimes he’ll say, “Hold on, hold on.” I can hear him clicking on something he just spotted. It may be a summary or sales teaser. Then, he’ll run the aggregate view. “Good one?” I’ll ask. Usually not. The “pre-search research” reveals something that causes a no-vote.
My point is that your positioning includes far more than you think. The things that can undermine you have more weight than you expect.
If you’re just a yellow speck and not a radiant golden glow, you’re losing sales – I guarantee it. Plus, you’re undercutting your chances of getting your asking price when it’s time to sell.
Today’s customers and acquirers have unprecedented access to both good and bad information about you. You can control that story by highlighting your strengths and controlling the narrative about everything else. That’s the power of positioning.
Sandy Hubbard is a chief marketing advisor who helps position businesses strategically and powerfully. She advises specialty print manufacturers, converters, and finishers – helping them improve, grow, and position powerfully in a world of rising competition. Her tenure in the industry has fostered business growth and success, allowing clients to make a difference in the world.
New clients always want to start the positioning process with the things that ring the sales bell. Understandable. However, controlling your reputation is an essential part of positioning and should be at the top of your list.
We need to do two things before we build the sales framework. First, we need to address negative information. Second, we need to correct anything that is inaccurate.
Let’s talk about negative information first. One of my clients went through financial reorganization many years ago. The business is now on solid footing, and the old news does not reflect the current conditions. However, when I began working with them, I did a Google search of the company’s name. The first dropdown in the suggested searches was “bankruptcy.” A person wouldn’t have to know anything about the company’s history to see it presented front and center. Thanks, Google!
Why is old and negative information suggested to those searching for a company name? Two reasons.
One reason old information pops up is due to the authority of the website holding the information. State websites, for example, have high credibility with search engines. Websites with databases get a lot of traffic for things like judgments, divorce decrees, revoked professional certifications, and disciplinary actions. Those sites move right to the top when people search for your company name.
The second reason a search engine may prompt a negative item is that someone (a competitor, former employee, or disgruntled ex-spouse) is seeding the search. Search engines suggest “popular” queries. People who want your negative information to surface can excite the search engine with multiple queries.
The second part of reputation management is correcting inaccurate information.
I see this issue with companies with similar names. For example, the wrong company name could be published on a credit reporting site. That’s a tough one because if you never got a bill – incorrect or not – how would you know there was a mix-up?
This is where monitoring is essential. Check for issues regularly, and then clear up, correct, or challenge any problem areas. As far as online reputation is concerned, get in the habit of searching your company name in all kinds of permutations. Use a variety of search phrases. Try searching your company name partnered with “reviews,” “complaints,” “employees” and “pros and cons.” It can be a real eye-opener.
Be sure to track your findings, especially if you think bad actors are trying to thwart you. Your reputation is a vital part of your positioning. Do first things first, take charge of your information, and keep your eyes wide open.
Whether you’re considering selling your business or simply wanting more customers, the quality and size of your glow – aka your positioning – is crucial.
Today’s customers and buyers of businesses are looking at how your business presents itself as an aggregate – the total glow.
They’re looking at more than how a salesperson interacts with them or how your website looks.
Are people judging you?
Yes, people are actually judging you. They may use apps, financial databases, and membership sites to view your business. They may also ask ChatGPT to create a report based on the sum of your online presence, public data, and other available information.These reports could include:
- How current your website is based on the last update or copyright date.
- Reviews on employment sites such as Indeed and Glassdoor.
- Your LinkedIn company page and the personal profiles of your executives.
- Articles in respected publications.
- Blogs or authoritative guest posts written by someone in your company.
- Your company newsletter.
- Your sales pages, product sheets, ordering portal, and access to online customer service.
your positioning.
What’s a stink test?
Entities looking to buy a company run a “stink test.” They want to understand your positioning before they decide if you’re a good fit as an acquisition.Here are items you’ll find on a Stink Test:
- Website – Is your site professional, modern, branded, and comprehensive?
- Lawsuits and legal action – Is there legal action pending against you or harmful information, even if it is resolved?
- Trademarks and Intellectual Property – Are your filings visible? What is the status?
- Reviews – Are there any negative comments? If so, have you addressed them promptly and professionally?
- Off-site data – Is there inaccurate information about your company or its principles on sites such as Dun & Bradstreet, Experian, Better Business Bureau, ZoomInfo, or others?
- Photos of your facility – Do pictures of your business leave a good impression? How about the historical timeline of Google Street View? Have employees posted images of your company’s interior? What do they show? Have real estate agents, customers, equipment sellers, or suppliers taken photos that may be on their websites or social media?
I know what you’re thinking. Are today’s customers and acquirers really that sophisticated? Can they accurately view my business based on all these disparate factors? The answer is yes – because the tools are readily available, easy to use, and often free.
Whether the view is accurate is up to you and how you control it.
What will they find?
Think about what a simple Google search can turn up. Add artificial intelligence to the equation, and suddenly, all your dirty laundry is hanging out there for everyone to see.One of my buddies heads a family office. He’s always looking for companies to acquire. When we’re on the phone, I can hear him mindlessly scrolling databases. Sometimes he’ll say, “Hold on, hold on.” I can hear him clicking on something he just spotted. It may be a summary or sales teaser. Then, he’ll run the aggregate view. “Good one?” I’ll ask. Usually not. The “pre-search research” reveals something that causes a no-vote.
My point is that your positioning includes far more than you think. The things that can undermine you have more weight than you expect.
What’s your high-angle view?
When building powerful positioning, we must fly up in that satellite and get a 300-mile-high view. Doing so is a foundational part of marketing.If you’re just a yellow speck and not a radiant golden glow, you’re losing sales – I guarantee it. Plus, you’re undercutting your chances of getting your asking price when it’s time to sell.
Today’s customers and acquirers have unprecedented access to both good and bad information about you. You can control that story by highlighting your strengths and controlling the narrative about everything else. That’s the power of positioning.
Sandy Hubbard is a chief marketing advisor who helps position businesses strategically and powerfully. She advises specialty print manufacturers, converters, and finishers – helping them improve, grow, and position powerfully in a world of rising competition. Her tenure in the industry has fostered business growth and success, allowing clients to make a difference in the world.
New clients always want to start the positioning process with the things that ring the sales bell. Understandable. However, controlling your reputation is an essential part of positioning and should be at the top of your list.
We need to do two things before we build the sales framework. First, we need to address negative information. Second, we need to correct anything that is inaccurate.
Let’s talk about negative information first. One of my clients went through financial reorganization many years ago. The business is now on solid footing, and the old news does not reflect the current conditions. However, when I began working with them, I did a Google search of the company’s name. The first dropdown in the suggested searches was “bankruptcy.” A person wouldn’t have to know anything about the company’s history to see it presented front and center. Thanks, Google!
Why is old and negative information suggested to those searching for a company name? Two reasons.
One reason old information pops up is due to the authority of the website holding the information. State websites, for example, have high credibility with search engines. Websites with databases get a lot of traffic for things like judgments, divorce decrees, revoked professional certifications, and disciplinary actions. Those sites move right to the top when people search for your company name.
The second reason a search engine may prompt a negative item is that someone (a competitor, former employee, or disgruntled ex-spouse) is seeding the search. Search engines suggest “popular” queries. People who want your negative information to surface can excite the search engine with multiple queries.
The second part of reputation management is correcting inaccurate information.
I see this issue with companies with similar names. For example, the wrong company name could be published on a credit reporting site. That’s a tough one because if you never got a bill – incorrect or not – how would you know there was a mix-up?
This is where monitoring is essential. Check for issues regularly, and then clear up, correct, or challenge any problem areas. As far as online reputation is concerned, get in the habit of searching your company name in all kinds of permutations. Use a variety of search phrases. Try searching your company name partnered with “reviews,” “complaints,” “employees” and “pros and cons.” It can be a real eye-opener.
Be sure to track your findings, especially if you think bad actors are trying to thwart you. Your reputation is a vital part of your positioning. Do first things first, take charge of your information, and keep your eyes wide open.