One of my pet peeves is the use of the Rolodex. In many cases it is not been used effectively as an important business tool. And now in the modern era, the Rolodex has been further reduced to little more than an electronic repository for business cards.
For those of you unfamiliar with the term, a Rolodex is a rotating file device used to share business contact information. However, to clarify for this article, I consider the Rolodex, business card file, CRM and other Contact lists to be synonymous.
In the corporate world, I had to frequently listen to executives brag about their “Who’s Who” list of contacts and the size of their Rolodex, as if this somehow made them appear to be more important. However, when it came down to helping a sales team with an executive introduction, closing a sale or resolving a customer issue, their Rolodex of business contacts was rarely of any value.
A few years ago, I met with a Director of Business Development candidate who began the interview by telling me that he had a Rolodex of over 2,000 businesses. I said, “that’s great … now tell me how many of those businesses you could call right now, get an appointment in the next week and close a sale in the next 30 days if you were offered this position?”
You get the point. Your Rolodex is of little to no value unless it helps you build great relationships, grow your business and make money.
Much the same as networking, developing an effective Rolodex or Contacts list(s) you can turn into cash is about building great relationships, not stockpiling business cards. Your prospect database, email and vendor lists are more appropriate placeholders for this additional stored information.
Constructing your Rolodex in this manner will help you to put more emphasis on the customer, partner and supplier relationships that are integral to your success, while turning your Rolodex into CASH today.
Do you have any sales strategies to turn your Rolodex into CASH? Comment below and let’s discuss.
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