The Business of Meetings – Episode 238 – 7 Essential Questions to Close More Business with Kay Allison
Today, we are excited to welcome Kay Allison as our guest.
Kay is a marketing genius and talented speaker who specializes in helping creative individuals, companies, and entrepreneurs make tons of money. After enjoying a busy career in corporate America, she decided it was time for a change and became an entrepreneur.
Kay has had an incredible journey. She joins us today to share her story and explain what she does to assist creative individuals and businesses to grow financially.
From Music to Marketing
Kay initially pursued a career as a professional cellist but soon realized it would not provide the lifestyle she desired. Guided by a career counselor, she switched to marketing and earned a master’s degree in marketing communications from Northwestern University. She then entered the advertising world, working at prominent agencies like J. Walter Thompson and later innovating new business strategies that improved pitch success rates by 30%.
New Business Success and Entrepreneurship
As Kay developed her unique methods for advertising pitches, clients began asking her to help them create new products. That led her to start her own business, focusing on developing high-revenue product ideas for Fortune 200 companies. Her company generated $6 million annually and contributed $2 billion in client revenue. At the same time, she and her husband opened a stylish focus group facility in Chicago, which thrived for 17 years and won multiple awards.
The Shift During COVID-19
When COVID hit, Kay and her husband closed their focus group facility. They had already wound down their consulting business for personal reasons. At around the same time, Kay ventured into the health space with a snack company, Farm & Oven, which she sold during the pandemic. Following those transitions, she took time off to enjoy life while contemplating her next steps.
Finding New Purpose: Helping Executive Women and TikTok Fame
As a passionate advocate for addiction recovery, Kay began helping executive women get sober. Her venture did not take off, so she joined TikTok and began sharing her insights on business success. One of her videos went viral, leading to a surge of coaching and mentoring requests. Kay attributes the success of her viral TikTok to standing out as an older, makeup-free woman with valuable, previously unheard business advice.
Methodology for Closing Sales: Seven Key Questions
Kay asks seven crucial questions that have helped her close 85% of her pitches. The questions allow her to understand more about any burning business issues her clients face, create value, and establish more trust. Her approach facilitates meaningful conversations while building trust and rapport, making clients feel heard and valued. She explains that clients hire consultants for their expertise and to make them feel more confident about their business decisions.
Value-Based Pricing
Kay advises entrepreneurs to focus on the value they create for clients rather than competing on price. She uses the concept of a Copernican shift in pricing, focusing on client needs rather than the insecurities of the entrepreneur. By anchoring prices to the financial impact of her services, Kay has been able to charge more while delivering increased value.
Differentiating in Business
Kay encourages entrepreneurs to identify the unique value they bring to their clients instead of following the competition. For those who want to stand out in a crowded industry, she recommends focusing on the deeper business issues your clients experience rather than surface-level details. That approach will help you differentiate your business offerings and provide higher-value proposals.
Importance of External Perspectives
Even with vast knowledge and experience, external perspectives are crucial. Objectively viewing yourself is difficult, so Kay recommends working with others or employing a coach. She also highlights the value of continuous learning, which has been a foundation for her success.
Lifelong Learning
Kay grew up in a family that valued education. That instilled in her a passion for learning, which she finds like oxygen to the brain. She continues with her lifelong learning approach, reading three books a week and integrating different fields like biology and economics into her professional work.
Dream Opportunity
Kay enjoys public speaking and is open to any opportunities that would allow her to be on the stage.
Bio: Kay Allison
Kay Allison helps creative people and companies unlock their ideas’ full value. She increased new business wins at two global ad agencies by over 30%, and she closed over 85% of the deals she pitched as the founder of her innovation agency, The Energy Infuser. She left corporate America to found that agency and increased her income 600%. She worked with famous brands like Kleenex, Trojan, Hewlett Packard, Avon, and Kraft to increase their revenue by $2 billion. She co-founded a revolutionary focus group facility, The Energy Annex, that was named “World’s Best Facility” every year between its founding in 2003 and closing its doors due to Covid in 2020. She’s a two-time author, a professional speaker, and a leader in the recovery community.
Connect with Eric Rozenberg
Connect with Kay Allison
On TikTok
Email Kay:kay@kayallison.com
