Prospecting is a crucial aspect for any business. In
order to grow, a business must have a stable base of customers and
a continual list of potential customers. In other words, you need
to expand and broaden your sales prospects. Now, here are just a
few techniques to get you started.
- Keep a current list of firms that are in competition
with your current customer base. Each company on that list
is a potential new customer.
- Solicit referrals. Referrals are a great
source of new customers - because they are offered from a "reliable" source.
Offer discounts, freebies or other incentives to your current customers
who bring you new business.
- Direct Marketing. Direct marketing and mailing
lists are a convenient way to identify and obtain lists of accurate,
targeted sales leads for your business. However, you must use a
reliable source whose lists and addresses are up-to-date. Otherwise,
you will be wasting money and time on out-of-date material.
- Seek out symbiotic partnerships. Scratch
their back. Prospect sharing with similar industries benefits all
parties involved. For example, an alliance between a body shop
and an auto repair shop enables recommendations of customers to
each prospective company - thus offering the customer a complete
service.
NOTE: A word of caution: Before you enter into any type
of alliance, make sure you can vouch for the other company. Otherwise
their mistakes may ruin your good reputation.
- Look outside your niche. Thinking outside
of the Box. Spend time thinking creatively about other
markets that could benefit from your product or service. A
great way to start the creative juices flowing is to visit
trade shows for ideas. A prime example of a company that expanded
their niche business is Dansko. This clog maker used to cater
solely to hospital workers, but expanded its horizons and now
markets and sells it shoes to mainstream retailers and customers.
- Adjust your product for wider appeal. One
way to expand into new markets is to appeal to a broader range
of customers. Keep your eyes peeled for opportunities that are
related to your current business. Case in point: Mercury Interactive
invented the testing-tools software industry, allowing customers
to check for bugs before computer programs go to market. Not content
with its leading market share, the firm made small modifications
to its software so that it also could check for Y2K problems. Later,
Mercury again refined its software to make it applicable to the
exploding e-commerce testing market.
- Go global. Don't discount working or selling
your product to the global market. Marketing overseas has become
much easier in the last several years - especially with the internet.
If you have a product or service that will benefit the masses,
then it is worth your time to explore the opportunity.
- Do good deeds. Environmental groups, for
example, will provide your company with referrals if they know
you provide environmentally friendly services (your oil-change
station recycles used oil) or products (your paper store sells
chlorine-free products).
- Advertise creatively. Don't discount the
traditional forms of media just because your business is on the
Internet. While these mediums may incur higher costs, with a little
creative thinking you'll find several low-budget options you can
utilize to maintain a healthy marketing exposure. Sponsorships,
special promotions, press releases, giveaways - don't discount
any idea. If you haven't been advertising already, now is the time
to start.
The above 9 steps are only a few avenues you can utilize
for prospecting. Although they can be time consuming - the ends will
certainly justify the means. If you find you are unable to devote
the time required for successful prospecting - they contact OneWay
Advertising. We will be happy to help you.
About The Author
Suzanne Fyhrie owns and operates OneWay Advertising and Design. She specializes
in marketing and graphic design and her clientele reach from Montana
to Trinidad.
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