How to Grow Your Business Faster with Targeted Lead Generation
Every day going through my mail I get amazed at how much money and resources are wasted on senseless and ineffective advertising. On the average, 30% to 40% of what’s in my mail box goes straight into the waste basket. Several questions pop into my mind; a) I can’t be the only one who gets annoyed by all the junk advertisement b) In this age of sustainability, how can companies waste so much paper, ink, energy, etc? c) Is this really an effective way to promote your company or service? Do these mass mailings really help companies achieve their business goals? I have been in the field of B2B business development for over 25 years and, based on my experience and success record, I would have to say that whether you are a B2B or B2C company, trying to be all things to all people is a sure way to fail. Instead, you need to narrow down your marketing efforts to a group of people or companies that may be in the market or have a specific need for your particular product or service. Here are 6 steps for a successful targeted marketing campaign: Decide on who you want to target – based on specialty, geographic area, size of the company, etc. Create database of companies that match your criteria – collect information such as address, phone number, and website. Find out who the decision makers are within those companies – in order to be effective and not waste your time with the middle men, you have to go right to the source a.k.a. decision maker. Make initial contact with that decision maker by means of mail or e-mail – that will put you and your company into their memory bank. Cold calling does not work. Make a secondary contact by phone– even though you may have to jump over many hurdles to get through, your persistence will pay off and you will get to have a conversation with the person or people that have the power and ability to buy your goods or services Schedule a meeting with them and make your presentation – this is your chance to create chemistry, build a relationship, and, ultimately, make a sale. Remember, the relationships you create need to be strengthened and nurtured over time. Your business relationships work for you in several ways; “word of mouth” advertising and repeat business, just to name a...
Read More5 Common Mistakes to Avoid in Your Business Development Strategy
Sales organizations that find themselves stuck atop a plateau are often there because they are relying on habits that may have produced good results in the past, but are less fruitful or counter-productive in the present. As human beings we are habitual, meaning that we create habits that convert into a routine. The problem with a routine is that it only produces a fixed level of productivity. Sales people develop routines under which certain components are productive and others are counterproductive and usually result in a lot of wasted time and money. Albert Einstein’s definition of insanity is:” Doing the same thing over and over again and expecting different results”. Let’s examine some of the most common mistakes made in a process of business development: Your marketing campaign is too general – you can’t be everything to everybody, thinking that it will bring you more customers. You need to figure out who your customer is, research their needs and requirements, and direct your marketing efforts to those individuals or companies. Too much focus on your products or services – Your prospects’ primary concern isn’t that you’ve been in business for 25 years, but whether you know the problem they want to solve. You must identify at least one common problem of your prospects and the benefit of using your product or service Lack of Follow Up – when marketing for my clients or for myself, I use a “pleasantly persistent” approach. Without being a “pest”, I keep regular contact with the prospects using email, and the phone to follow up and close the sale. Unless you hear a definite “NO”, don’t give up. Failing to invest sufficient time and effort – In order to build relationships it takes a considerable amount of time and energy. Companies that succeed are those that have a clear objective and implement a strategy based on market research and a commitment to seeing their efforts through to completion. Not Focusing on Repeat Business – Repeat business typically makes up 80 percent of customers in most businesses. Too often marketing campaigns are heavily focused on bringing in new customers and not building relationships with current...
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