Summer is here, and Vertical IQ is getting in on the fun by kicking off our Industry Intelligence Summer Concert Blog Series! Over the coming weeks, we will share some great songs that help demystify Industry Intelligence. Join us for tips on the value of Industry Intelligence, discover some new musical artists, and reminisce on the oldies!

I spent this past Friday and Saturday night seeing my favorite new artist, Billy Strings, in Cary. Billy is a Grammy Award-winning guitarist and singer whose eclectic Bluegrass style also incorporates elements of rock and even heavy metal.

As I was listening to his song, “Know It All” — Listen to it here! — it got me thinking about how in business, we can get too comfortable and maybe think we know it all. The lyrics say, in part:

Well all I know is everything I’ve learned
And if I’m changing that’s the reason that I’ll turn
Into someone I can trust, ‘fore I turn back into dust
There’s an answer but I wouldn’t be concerned

Well I thought I knew it all, ’til I crashed into the wall
Let me learn from my mistakes and try to pick up all the pieces

Building trust with Industry Intelligence

You and your organization have been working in your community forever. You know everyone … and they know you. Over the years, you have worked hard to build a solid reputation — as a banker, an accountant, a financial planner … you get the idea — and to cultivate personal relationships with your clients and prospects. Relationships are all that really matter.

Does this sound familiar to you?

There’s no doubt: Those relationships are absolutely fundamental to your success. But the only way to ensure mutual trust remains the bedrock of those relationships is to demonstrate active engagement and understanding of each client’s business. That’s why Industry Intelligence should be a verse in your client management processes.

And it’s not just about educating yourself on the nuances of your client’s industry (although that is important). Sharing industry-focused content, passing along timely, relevant news articles, incorporating industry facts and trends into your presentations, and offering solutions to industry-specific challenges all make for a stronger, more personalized relationship with your clients. Those Industry Intelligence-based tactics build trust.

And bear in mind: This level of personalization — this consultative-type relationship — is what today’s business owners expect from trusted service providers and advisors to their company. And perhaps more importantly, it’s likely what your competition is bringing to the table.

Lyrics relationship managers should live by

You might think you’ve been in the business for so many years that YOU know it all too, but don’t rest on this false sense of security. Competitors are out there, chomping at the bit to win over your long-time clients.

But as Billy reminds us, “All I know is everything I’ve learned,” it’s never too late to learn from your mistakes, “and try to pick up all the pieces” by changing your processes and strategy. Indeed, when you incorporate Industry Intelligence into your interactions and touchpoints, you increase the likelihood that you become someone your client can trust.

Contact us to learn more or see a list of the industries we cover.

Image credit: David Buffaloe

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