Finding New Business in a Tough Economy
Finding new business is a common theme a lot of times when talking with a sales person or business owner they talk about how their main focus is on getting new customers.
That’s great! New customers are very important you need them to ensure growth, to have a steady stream of business and provide revenue and profit diversity. If you’ve been told don’t put all your eggs in one basket adapt that to your sales philosophy as well…don’t make all your sales to a the same customers.
Sales is about increasing numbers and It is what the game’s about but also far too often the generic statement of wanting new customers it is where people so often miss the boat is they don’t define their targets.
Well what is your target? Don’t just throw a number out there or spit out my boss says. Figure it out for yourself after all you have to do the work and live with the results. How much do you want to grow your business and what is it going to take? One account a week a quarter etc. You’ve got to know and despite the fact it is unpopular you need to know how many prospects and proposals or quotes it’s going to take to get you there.
In this section we’re going to looks at it 3 ways, growing your existing business, building your professional network, and getting referrals
But before we get to new customers a great place to start is look at who you’re doing business with today. What are your strengths, and your strongest customer sets. Are they a particular size or type of company? Are they in or do they cater to a particular vertical market?
Do you best customers buy not only certain products or services but is there a mixture or combination that exists?
Find out what your customers needs are? Don’t take the easy answer but really dig for the reasons behind why they do business with you.
Do you work at different levels or departments with in your customers? Speaking of levels within their organization. Look at who you deal with and treat them as gold. Because they are and they are the ones buying from you but don’t forget to look at and understand the food chain all along the way. Is the person who cut’s the PO or sends the order to you a different person a department or individual other than your contact. What have you done to get to know them too? If your sales require contracts what relationship do you have with the person who is going to scribble the name on that magic piece of paper?
Spread your reach out through out the organization. If done right it will only strengthen your position. .
I know this can lead to new sales and it’s not new business yet and most definitely not a new customers bear with me we’ll get to that in just a few more minutes.
This is your chance to do something a lot of people over look if they have repeat business, and an established base. First learn a lot about why they are among your strongest customer set and best accounts. Ask questions, gain insight to not only why they do business with you and what they think is important but it is also a great opportunity to learn about their inner workings and industry… It’s chance to learn in a real world and applied setting things that you might not read in the trade magazine. It goes a long way to making you more of an expert in that account and others.
Are you selling within your best customers…proactively looking for ways to improve, gain more mindshare, solve new business needs with your products or services? When was the last time you sat down and had a conversation about a new offer. Don’t be lazy and enjoy the sound of hearing the cash register ring or the sound of the fax machine printing out their orders.
Spread to different levels get as high up on the food chain as you can and know each person all the way down who can influence of affect the business you do with them. People get promoted, take jobs in different departments. and leave companies. By knowing an organization from the top down and bottom up it keeps you in good stead. What about when people leave it is both a risk and an opportunity if you’ve established yourself as a valuable resource. You have the opportunity to not only keep the business you have but depending on where that contact is going it might be an introduction into a new account.
Think of yourself for a moment, how many times have you taken something of value to you personally or professionally into another situation, the next place, a new job what ever. Chances are most of you have and this is a chance to be taken along for the rife.
It does another thing for you. Want to guess what it is?
