In my previous post on finding new business I suggested encouraging past and existing customers to purchase more from you. I appreciate that may not generate as much additional revenue as you would like.
So what other ways can we find sales through these contacts?
The approach you take depends upon whether your target market is consumers or other businesses.
Let’s look at targeting consumers first.
With consumers you want to tap into what is now known as ‘social marketing’. That’s where your existing (or past) customers talk about you to their friends and family and, more importantly, tell you about people they know who may be interested in what you have to offer. You already know this as referrals or ‘word-of-mouth’ marketing.
Do you get referrals? Is your business benefiting from word-of-mouth?
The crucial question here really is not ‘are you benefiting’ it’s more a case of ‘are you using it pro-actively so you do benefit?’ or are you letting it happen naturally and probably very slowly?
If you are not actively looking for referrals and recommendations directly from your existing contacts then I urge you to seriously consider doing so.
How?
Well, if you’ve taken any notice of my side panel here > you’ll have noticed in the blog roll a link to ‘Word-of-Mouth Magic’ which is a blog hosted by Martin Russell. He is one of the most pro-active exponents of this marketing method I’ve come across. He offers great advice on his blog so it is worth spending some time there.
Another resource I recommend is a book by Roy Sheppard: Rapid Results Referrals (look for the Special link on the right where he’s offering this book and his Meet, Greet & Prosper for a good bundled price..
Roy describes when, how and who to ask for referrals. And here’s a thought-provoking tip. He tells you to be careful about what you say when asked ‘How’s Business?’; If you give the answer many business people do, then you might be putting up a barrier to getting more sales! Here’s what he says:
“How’s business?” This is a question I routinely ask members of my audiences. They usually answer “Fine”, “Great”, “Fantastic”, “Brilliant”, “Never been better” or “Very buoyant”. Perhaps they are telling the truth, or maybe a few are putting on a brave face, when in reality business could be better – or even MUCH better! NEVER NEVER answer the question “How’s business?” in the way I’ve just described. It may be true. It may make you feel better, by appealing to your ego – but it sends a subconscious signal that you don’t want or need additional business. And for anyone who wants to increase their sale – this isn’t a good idea. Instead say something along the following lines ; “Thanks for asking. Business is terrific at the moment. I’m convinced it’s because we are working really hard to be a company that people choose to recommend. It seems to be working, 65% of our new customers come from referrals.”
If you sell to other businesses you can use the techniques above as well, but you also have an additional advantage which I’ll talk about in the next post.
~ Carol Bentley
On Radio 2′s Jeremy Vines show today they were talking to people who are considering setting up a business during the current recession. There were some innovative business ideas and some good points were made during the programme.
I sent an email with 5 tips for business start-ups:
Starting a business at any time can be scary and yet often a recession can be the best time provided you’ve found the right market so:
1] Research your target market. Do people WANT what you are offering or do you just think they NEED your product / service? People buy what they want, they don’t always buy what they need.
2] Marketing is crucial – BUT it must be the right type of marketing. It is very easy to spend a fortune and get little or no results. For a small business direct response style marketing is the only feasible activity because the results can be closely measured and they can concentrate on the activity that is bringing in sales.
3] Time management – it is vital to keep your lifestyle balance. It is very easy for the business to take over your whole life and put a strain on your home and relationships. And it can also affect your health.
4] Finances: Keep on top of cashflow. This can be the most difficult aspect of having your own business.. getting people to pay their invoices. Make it very clear what your payment terms are when you agree to do business with someone.
5] Finances: Put money aside. It is tempting to spend all you’ve got coming in but I would strongly advise opening a high-interest account and transferring 10% of your revenue into it. As your business grows increase the transfer to 22%. And don’t touch it. Doing this gives you the money you need when your tax bill comes in and saves the stress of having to find the money to pay those bills.
What advice would you give to these start-up entrepreneurs?
Have a good weekend… Find new business: 2 is your next blog post, keep an eye open for it.
~ Carol Bentley
First I would like to thank those of you who have taken the time to visit my Business Mood survey.
I’ve had a few people contact me to say they didn’t receive the Thank You gift mentioned.
Once the survey is completed you are automatically directed to a Thank You page on my website where you can download the Magnetic Marketing Mindset Secrets PDF and access info for registering for Brian’s offers.
This is what the page looks like:
Some browsers / security systems do not allow re-directs so if you did not see that page after completing the survey please let me know and I’ll send you a direct link.
You can either use the Questions? link in the right panel of this page or hit reply to any of the blog post email notices.
Your email may get caught in our security system so please allow time for us to spot it and reply to you.
Thanks.
~ Carol Bentley
Over the next few posts I’m going to explore different ways of finding new business. Some will cost very little in terms of money and effort, others will need a higher investment.
I doubt I will cover all possibilities so I’m inviting you to share anything you’ve done that’s brought in a great result… or conversely anything you’ve done that’s been an absolute disaster for you. Simply pop your story in the comments box or, if you prefer, you can send it via the Questions? link in the right panel.
If you have a website do include the URL in your story just in case any of my other readers are looking for what you offer.
First Thoughts
OK – first off let’s look at what you’ve already got; your existing customer base. Do you have a database of everyone who has purchased from you? If you haven’t you are missing a golden opportunity.
But if you said “No” to my question let me ask… Are you sure? How about your accounts system? That probably contains a wealth of valuable information you can use:
- Company
- Contact details
- Type of customer (business or consumer, if business what type of business)
- What they bought from you
- When they last bought
- If they bought more than once
- Their average spend with you
- How long they’ve been a customer
Looking at what your existing customers have already bought, is there something you offer that complements or adds value to their previous purchase?
Do you have any special deals you haven’t told them about? New products or improved versions?
If your past customers are buying then, provided they were happy with their last purchase from you, they would probably rather spend with you than with another business they have no experience of.
(BTW – I appreciate picking this type of info up if you are a retail outlet may not be that simple. If you do have a shop consider building a database; ask your regulars if they’d like to receive info by email, or hold a prize draw and ask them to leave a business card or their contact details. Make sure you clearly state that you wish to keep them informed and give them the option of not having their details saved, as per the data protection act).
And – a bit of legal stuff – in the UK if you do keep any personal data for marketing purposes you need to be registered under the Data Protection Act
So – think about your customers, check what they’ve already bought, check what you offer that they may not know about (or haven’t yet purchased) and tell them. Remember to personalise your message to them, make them feel special… because they are aren’t they? And you just may strike lucky.
In the next post we’ll talk about other ways your list of customers can help you find more business.
~ Carol Bentley
P.S. If you haven’t already visited my Business Mood survey (see the previous post below) you’ve got a few days left. Why not pop over now, it’ll only take 5 minutes… Business Mood Thanks
I’ll start with the expected greeting at this time of year… A Happy and Prosperous New Year to you. Over the next few weeks I plan to include posts to inspire you in your business, but first. . .
In today’s post I’m inviting you to share your business mood by answering 7 quick questions. And as a ‘Thank You’ for giving me your opinions you can claim up to 3 gifts:
Gift 1: download a copy of Magnetic Marketing Mindset Secrets: 42 Tips and Techniques to Get Red-Hot Prospects Demanding Your Products or Services. This is a collection of timely insights a successful entrepreneur friend of mine wrote and which I edited. Definitely worth checking.
Gift 2: grab your half-price seat on Brian James’ Live Event on 23rd January at the Oxford Belfry hotel. Brian is offering places at £49+VAT instead of the usual £99+VAT – that’s a great bargain when you consider the additional bonuses he gives people attending the event are worth £127 on their own! Take a look at what he’s delivering at http://www.brianjamesgroup.com/doubleprofits.html
Gift 3: If you can’t make the 23rd January or can’t get to the Oxford Belfry you can opt for a half-price telephone consultation with Brian to give your business a kick-start for 2009. Read more about what you can expect to gain by talking to him at http://www.brianjamesgroup.com/sales.html
The questions are check box selections and shouldn’t take more than 5 minutes to run through. You are not asked to give any personal / contact details. When you’ve sent in your answers you are taken straight to a ‘Thank You’ page where you can download Gift 1 and claim one or both of Brian’s generous offers.
Please visit Business Mood (opens in a new browser window) to share your views. Thank you.
I mentioned before the Christmas break I’d be looking at resources for finding new business prospects – that’s coming up in my next few posts.
~ Carol Bentley
P.S. I’ll be closing this survey on 12th January so I urge you to pop over now so you don’t forget and miss these gifts.
You may have noticed I’ve been a little quiet over the past few weeks, don’t worry I’m not abandoning you.
I have some interesting thoughts to share, which I’ll tell you about in a moment, but recently my more savvy clients have been gearing themselves up for a good push in the New Year and yep – you guessed it – I’ve been pulling all the stops out to get their copy written for them.
And it got me thinking, one crucial aspect of any business is finding more sales (I know, I know – that’s pretty obvious isn’t it?), whether that is from existing customers (the most cost-effective method) or from new sources.
So, after Christmas I thought I’d explore some of the resources we can use for finding new prospects.
In the meantime I’d like to thank you for taking the time and trouble to visit this blog and I look forward to exploring more copywritng and marketing ideas with you throughout 2009.
May the peace of Christmas be upon you
And happiness be yours too
May the New Year dawn bright for you
And success next year accrue
My best wishes for 2009
~ Carol Bentley
I have to admire people who turn their hand to different writing activities and Michael Bland is one such person… in fact his talent for writing short stories has completely surprised me.
But not just any short stories – he has specifically written stories that can be distributed instead of a traditional Christmas card. The stories are amusing and suitable for all ages – what’s more they are instanty accessible online.
So if you’ve forgotten to get a Christmas card for someone; or have just realised that you should have written and posted your cards and they are never going to get there in time (especially if the threatened Post Office strike goes ahead on Friday) then check out this online alternative with a difference.
Take a look at The Brightest Star by Michael Bland (click the graphic in the right panel on his website to see a sample of the contents).
~ Carol Bentley
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