by David Wauls, dwauls@lmaconsulting.cc
In a tough economic environment, it's much easier to sell to an existing customer. But to grow, businesses must "open closed doors." In other words, you have to increase your customer base. Below are some tips to consider if you want to grow your business by pursuing customers.
- Define Your Target: A number of business people look at "everyone" as a potential prospect. This is a waste of time, energy and financial resources. We believe you should identify your target market. Who needs your goods and services? Who is most likely to buy your goods and services? Businesses with tight budgets cannot afford to spend their resources in a broad-brush approach to securing new customers. Focus on those who need and will potentially purchase your goods and services.
- Create Visibility: Your existing and potential customers must know you and your organization. We recommend creating a way for customers to see your name, organization and what you're selling. This can be accomplished through your marketing efforts. You can use social media, professional organizations, write a newsletter or provide a free training seminar. There are many ways to become more visible - develop an overall strategy determined by your resources and objectives. If you're not familiar with social networking sites, learn to use them to your advantage.
- Develop Business Referrals: The best way to obtain referrals is to make sure you're providing quality products and services to your existing customers. Your existing customers will tell others about your products and services. Word of mouth is an excellent way to secure additional business. Ask your existing customers for referrals. If they're pleased with your efforts, they will want to help you succeed. You can also develop or join a network of business people who can provide referrals to each other.
- Develop Strategic Partnerships: You have business relationships with other businesses people. You might want to consider asking those business partners, not competing with you, to provide you with referrals. You should also reciprocate by providing them with business referrals.
- Centers of Influence: Businesses should be involved in organizations that are important to their target markets. This could be any organization that provides opportunities for you to network or possibly provide educational seminars. These might include: a chamber of commerce, BIA, Realtors Association, ABC, etc.
These strategies will provide you an opportunity to meet new businesses - and they may be in your target markets. In addition to developing an overall strategy, you should develop your networking skills and a mechanism for obtaining/giving referrals. Below are some ideas for both.
Networking Tips:
- Meet people you do not know.
- Have business cards with you at all times.
- Use the person's name when communicating.
- Have good eye contact.
- Follow up with them within 48 hours.
Generate Leads:
- Build your customer profile.
- Develop a 30-second "elevator speech."
- Talk to your best customers.
- Define a qualified lead.
- Have a follow up plan.
Developing Business Referrals:
- Develop strategic partnerships.
- Create a list of non-competing businesses.
- Provide quality services and products.
- Talk to your top 20 customers.
- Give as well as receive referrals.
- Thank the referrals.
If you want to "open closed doors," you need to change the same-old strategies that you've used in the past. Evaluate your current efforts and start to develop those new strategies that will successfully increase your customer base.
If you'd like to learn more about "opening closed doors," contact Dave Wauls at 717.509.8889 or via email dwauls@lmaconsulting.cc
David Wauls is a Senior Consultant at LMA Consulting Group .