005: Building a Community to Build Your Business with Sangram Vajre

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About This Episode

For many small business owners, especially those just starting out, it’s hard to find your competitive edge against long-established companies already in the marketplace. Sure, they’ve got the marketing and the large budgets, but don’t count yourself out of the game too quickly. What many new business owners have on their side that many established businesses don’t is the scrappy desire to level the playing field and establish themselves as a viable business.

In today’s episode, we’ll be talking with Sangram Vajre, co-founder and chief evangelist of Terminus, an account-based marketing software for B2B organizations. He shares how building a community can help build your business, and how those connections can turn into huge profit.

Opportunities often happen at the worst time. During uncertain times like the ones we’re in right now, it’s not uncommon for new business opportunities and new talent to thrive. Now is the best time to consider starting something new or expanding some of your current business ideas and practices.
Without a community, you’re simply a commodity. Pursue the problem your potential customers may be facing, not your product. Your community will ultimately be the greatest brand ambassadors, and their buy-in will ultimately determine who you are as a business. Build and organize a community to determine if what problem you set out to solve with your product is truly meeting their needs.
Think like a day one operator. You’re either evolving or you’re becoming obsolete. Hold onto that fire you had at the beginning when you first launched and be consistently intentional, which will yield massive output.
Own your narrative. Be bold, be concise, and have a clear point of view. Remember who you are and decide what you want your customers to say about you. Then, make sure everything you do, from your branding to your products, aligns with that.

What would be your first logical step to building your community? What practices do you have in place to start right now?

What are your customers saying about you? Does it align with what you say about you, what your website says about you, and the products you offer? What problem are you solving for your customers?

Do you have any customers who have personally taken on the role as your business’s informal brand ambassadors? What are some ways you can better equip them to speak confidently and knowledgeably about your business?

Fall in love with the problem you solve, not your product. — Sangram Vajre

Without a community, your business is simply a commodity. — Sangram Vajre

Your business is either growing or declining. — Tricia Sciortino

Focus on your current customers. Retention is the best acquisition. — Sangram Vajre

Pardot

Exact Target (acquired by Salesforce)

Salesforce

Marc Benioff

Jeff Bezos (Forbes profile)

BELAY

Sangram Vajre on Instagram and LinkedIn

Sangram’s personal website

Terminus — an account-based marketing software for B2B organizations

FlipMyFunnel Podcast — a daily B2B marketing podcast

ABM is B2B.: Why B2B Marketing and Sales is Broken and How to Fix it by Sangram Vajre and Eric Spett

Account-Based Marketing For Dummies by Sangram Vajre

(04:07) Today’s listener question: “How to sell a new product in a new market or market an innovative, new product in a mature market?”

(5:55) How Sangram balanced selling Terminus’ technology while also selling a new marketing strategy to businesses.

(9:25) The power of falling in love with the problem, not the product.

(11:02) Why Sangram focused on community building and how it contributed to the growth of Terminus.

(14:43) Best practices on how to build a community.

(18:07) Sangram’s earlier mistakes in business.

(21:44) Recognizing the importance of owning your narrative.

(24:30) Tricia and Lisa share their takeaways.

(26:10) Today’s One Next Step: Download our Community Building Cheat Sheet, which is a compilation of essential best practices to build your own community.

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