Businesses are always seeking new clients and most companies do so without a plan or use a process to find new clients. Making 100 sales calls per month isn’t productive anymore when you consider the odds to close new business is about 1% at best. New business development programs have been around for decades. Yet we keep searching for a full proof system that doesn’t require effort.
Maybe it’s time to stop searching, and time to begin with a plan or process that will help your business today. For those who want to grow their business, use these 8 tips. You might be surprised how these tips (reminders) can help your business grow this year.
1- Existing Clients Bring More Business.
After we close a new client, typically we move on to look for the next new client. This is time consuming and not always rewarding.
Existing clients can bring you more business. For example, ask what their goals are and see how you can help them reach those goals. In turn, they just might buy more from you. Also, when you ask them for referrals, you might be surprised to see how eager they are to help you.
2- Go Beyond What Is Expected.
Providing the goods and services to your existing clients is the easy part. Go one step further. Show interest in their industry and learn more about it. Use your network, or contacts to see if someone might be a good match for your client.
3- Painkillers Remove Headaches.
It doesn’t matter what type of business or service you provide, the reason why a client does business with you is to remove their pain. So become a “listener.” Whether you are at a cocktail party, an event or other social gathering, let a potential, or existing clients vent their pain. This might sound strange, but gaining their loyalty and being there to listen will show you are interested. Who knows, you might just have a solution to lessen their pain.
4- Power Partners.
Surround yourself with similar businesses. Ask how they built their customer base and what things they did right and wrong. Ask how they improved their sales and if they have a new business development program. You may not get all the answers you are looking for, but you can learn from their mistakes to avoid those pitfalls.
Another great business source are your vendors. Ask them who they know that could use your products or services. It’s ok to request an introduction, just make sure you are offering your vendor an incentive. It can be a finder fee after you make that new sale, or a gift card to a nice restaurant.
5- Networking Face-to-Face.
Belonging to groups online, such as LinkedIn is fine. But the best way to find new business is through the traditional face-to-face meetings. Some people call these one-on-one meetings. The point is to meet prospects in person, while keeping your online social network active.
6- Elevator Speech.
This is the most known term in business, the elevator speech. Unfortunately most sales people, even business owners cannot explain their business in a short 30-second speech. Probably because we want to tell everything about our business fearing we might miss something in a short introduction. One way to better understand the elevator speech is to ask your self what would you put on a billboard, or say in a 30-second TV commercial. I recommend having two maybe three different elevator speeches. They can be written for specific markets, or industries. Then use the one that is most appropriate.
7- Get Noticed. Stand Out in the Crowd.
No matter how successful or popular a business or person might be, they are continually marketing themselves through all forms of media: print, broadcast, mailers, and social media. A day almost doesn’t go by without reading about Apple, UPS, Taylor Swift, or Kim Kardashian to name a few.
This doesn’t mean you have to spend millions, or invent the first smart phone to get noticed. You need to be creative. Join a local community program or offer your spare time to a charity. If you are a B2B company, or B2C, you can use social media to build your awareness. Using publicity is another inexpensive form of media that will get you noticed.
8- Do Your Homework Before Making Any Contact.
Know what the company is selling, if they have more than one location, who their competition is, and where they fit into their market are just a few things to know before making that first sales call. Being knowledgeable about their company can give you the advantage over your competition.
These tips might sound like reminders, and they are, and you’re probably saying, “I have used a few of these in the past”, well, that’s the problem. These should be used all the time. So why aren’t you using them? Now get your team together and make this part of your new business development program.
If you need further help in growing your business to the next level, give George Carson a call at 949-477-9400 or you could wait until your competitors call him first!