The Next Burgeon In The Water Market Is Here
As of this writing, I truly believe that the water and wastewater market is on the verge of a burgeon. The last burgeon I remember was in the early part of this century when contaminant removal, specifically arsenic and manganese, was being driven by a change in regulation. At that time there were contaminant removal companies popping up left, right and center.
They were all facing the same challenge and it was a difficult one to overcome. They needed to win the battle for market share (and mind share) against what seemed to be an endless number of competitors all claiming their solution did the same thing. And they needed to win it quickly to avoid being an “also-ran.”
As you might remember or expected, very few of those companies survived five years and many of the ones that did were purchased by other larger companies before reaching their full potential. It was difficult to watch as each of these companies, so hopeful and confident, fell one-by-one because they were losing a battle with the odds stacked against them.
After attending the SWAN Forum a couple of weeks ago, I’m keenly aware that a new burgeon has arrived. Utilities are recognizing the need to evolve into the world of smart water. Combine that with the influx of new water and wastewater professionals eager to modernize the traditional systems that have been in place for decades and we find ourselves at the beginning of another opportunity to achieve market and brand dominance.
One of the quotes I heard at the SWAN Forum was from a plant manager at a utility who had a message for any and all solution providers in the audience. He stated quite plainly, “Please stop trying to sell me something I don’t need.” I looked around the room and saw a lot of heads nodding in agreement. What made this profound was that it put the most important message suppliers needed to hear from their buyers into a simple sentence.
Yes, we are looking at a burgeoning market as utilities are turning their attention towards modernizing their systems. What one utility does to modernize their systems, five others in close proximity will look to emulate and offer their customers and employees to improve experience. It’s important to recognize however that utilities and stakeholders are at different stages of their buyers’ journeys. Many may not think they need your specific component or solution, or they may not make your solution as high of a priority as perhaps it should be. If you try to be the loudest person in the room, they can easily put you into the bucket of trying to sell them something they don’t need, even though they might indeed need it and you. The most efficient way to make that connection and seize this opportunity to grow your sales and your business is to give first, sell next. Thought-provoking commercial insight designed to help first, begets connection.
So, what direction will these solutions providers who contribute to the smart water burgeon go? Will they make the same mistakes that many of the fledgling contaminant removal companies made in 2005? Will they learn form the failures of those that came before them? Only time will tell. The next BIG thing is here and it’s time to play to win.