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To Market
Prospecting for Clients
Finding new clients, called “prospecting,” is imperative to business
survival and growth. You can’t stop looking for new clients, even in the
profitable times, and especially in this flattened economy.
Loyal customers may suddenly turn elsewhere to save a few dollars, often
without notifying you of their decision to leave.
One thing to think about when prospecting is the quality of those
prospects. Don’t get caught up in chasing every lead that comes your way.
Make sure the prospect is worth going after.
By concentrating your efforts on solid prospects, you will avoid wasting
time, money and energy. There are three key characteristics of a
“qualified” prospect:
Need. Your prospect needs your product now or fairly soon.
Sufficient Budget. Your prospect has the money to buy your
product or service.
Authority to Buy. Your prospect is empowered to make the
decision.
Once you identify your qualified prospects, it’s time to take action and
create a marketing plan. Here are some strategies aimed at expanding your
current customer base you might wish to think about when developing your
plan:
(1) Target your customers’ competition.
(3) Try direct marketing to targeted
mailing lists.
(4) Share prospects with existing complementary partner relationships.
(5) Look outside your niche to expand your horizons.
(6) Tweak your product or service to find a better fit with other markets.
(7) Consider global customers.
(8) Volunteer your services and let others know about it.
(9) Rethink your use of advertising dollars.
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