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“So, how do you find new business?” It’s a question I hear a lot. Finding new customers can be challenging and frustrating; however there are things that you can do to make finding new customers easier, and make the business come to you!
1. Mine your existing clients for new work. You’ve heard it before. 80% of your business comes from 20% of your clients. Know and love those clients. New business doesn’t have to come from customers new to your company, it’s just revenue that wasn’t previously generated. Contact past and current clients with new products and services. Don’t let them forget how wonderful you are to work with and keep their loyalty.
2. Tell everyone about your business and have your friends and family do the same. I once asked a very successful salesperson how he continued to find new customers. One of his techniques was to put a business card in every piece of mail he sent out. Yes, that included the electric bill, garbage collector and so on. You never know who may need your product or service one day, so don’t be shy about spreading the word. I’d also make a point of adding your Facebook and Twitter accounts to those business cards. Of course you can also apply that theory to electronic mail and correspondence. Every e-mail you send should include a signature with your business contact info and change “sent from my iPhone” to your business slogan.
3. Have your elevator pitch ready and perfected for the “So what do you do?” question. As you make an effort to gain new business you’ll be surprised at how often you get asked about your company. Being asked the question is great. This gives you the opportunity to share what makes your business unique. Have a simple, clear answer as to what service or products you and your business provide. If you’re in a specialized business, make sure you speak in simple terms so that the message is easily understood by all.
4. Be known for what you know. Blog, write and speak about your industry. Become an expert and trusted resource. Attend seminars, trade shows, association meetings and share your knowledge either as a speaker, or over coffee during a break. If you are tech savvy create informational podcasts or videos to post on your website or You Tube. There are many organizations that offer networking and speaking opportunities. Most offer complimentary visits to see if the organization is a good fit for you. Take advantage of those offers. Go to a variety of meetings and determine where you feel most comfortable and have the most success. Don’t be discouraged if your first outing is unproductive. Keep looking, you’ll find a match, and some new prospects. Explore LinkedIn, Facebook and Twitter groups, or create a group if one doesn’t exist.
5. Advertise. Yes, you do need to advertise. A great location, many years in the industry, or having the best widget does not exclude you. McDonald’s has one of the most recognized brands worldwide yet they still need to advertise. So do you. With that said, advertising can take many different forms. Traditional advertising includes radio, TV and print. Examples of new media include everything from websites, pay per click, Facebook, Twitter, 4-Square and discount coupons like Groupon. Done properly advertising is an effective way to generate new business and should be considered a fixed expense like utilities. You can only bootstrap your marketing budget for so long. Spend money on what will drive results based on research and customer analysis, not personal tastes or friend’s advice. Have goals and a plan to measure the results before you buy.
What is the most effective of the five techniques? Well that depends on your business. However a combination of the above is usually most effective. Yes, it’s work. But the return on investment is well worth the time!
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