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Small Business Success Kit

 

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Prospect Target List: Size Does Matter


Prospect Target ListWhen building your suspect list, prospect targeting is everything. Go for quality over quantity, in this case smaller is better. Consider the following example:

Bob owns a PR firm (or a Legal firm, Accounting firm, or whatever B2B services company). He wishes to grow the firm and has highlighted he would like to increase revenue by about 400,000 pa, and he could do that with 12 new clients at £36,000 or $36,000 pa (are there any other currencies? … I await your hate mail). Looking at Bob’s current close rate of appointments to clients of 1 in 10 and the estimates from past direct marketing initiatives we could assume the following reverse calculations;

 

Scenario A

 

Suspects

12,000

 

Leads

1,200

10%

Opportunities

120

10%

New Clients

12

10%

Revenue per new client pa

36,000

 

Total Revenue added (annualised value)

432,000

 


At first look we might think, ok it can’t possibly cost us 432,000 to acquire these new clients and we haven’t even considered the lifetime value of the clients to the firm. But we need to dig and uncover the true cost…

The obvious:

Marketing Expenses to the 12,000 list of suspects… our huge beloved list of potential prospects. It is easy to determine the cost of Direct Mail or Flyers or Telemarketing or a combination of all these things delivered to any list size, we just need to ask any number of service providers for a quote.

The not so obvious:

The massive point that is often missed is the person hours required to implement each escalation in the sales pipeline. Consider 120 opportunities to deal with…

This could mean for each 1 opportunity a person in the firm will need to do….

  • 30mins of discovery phone calls
  • 30mins of evaluation meeting preparation
  • 30mins of travel to evaluation meeting
  • 60mins of evaluation meeting
  • 30mins of travel to back to office
  • 60mins of proposal preparation
  • 30mins of travel to proposal review meeting
  • 60mins of proposal review meeting
  • 30mins of travel to back to office

This equals = 6 hours, now if we assume you need to complete 120 within 10.5 months (12months – 4 weeks holiday leave + 2 weeks statutory holiday + 0 days sick leave) = approx 11.5 opportunities per month x 6 hours each = 69 hours. That is about 40% of the time in sales, or 2 full days a week selling. Now the firm needs to ask…

  1. Who is going to do this? The MD or a sales person? Is this even possible?
  2. What is the direct cost of this in salary package?

What about the 1,200 leads that were generated how do we filter this out to find the 120 qualified opportunities? Do we use rules and technology to decide for us or do we use an account manager to do this qualification over the phone? 1,200 at 15mins a call = 300 hours / 10.5 = 28 hrs a mth, almost a day a week when that person is at work? What does this cost?

The Point:

Better prospect targeting through detailed prospect profiling will yield much higher conversion rates. With better conversion rates you need a much smaller prospect list. A smaller prospect list not only gives you immense focus (because you will pretty much actually know who your clients are going to be because the list is so small), but it also massively reduces costs. Both direct marketing costs and internal staffing resource requirements. Consider Bob’s example in two different forms….

 

Scenario B

 

Scenario C

 

Suspects

1,800

 

810

 

Leads

180

10%

81

10%

Opportunities

36

20%

27

33%

New Clients

12

33%

9

33%

Revenue per new client pa

36,000

 

48,000

 

Total Revenue added (annualised value)

432,000

 

432,000

 

 

Scenario C: What if we, through a much deeper profiling process, uncovered the real key clients that Bob wanted were not the 36,000 pa clients (that was just an average of his top clients, a number he had used for years), the real perfect clients were 48,000 pa.

Conversion Rate Improvement

'But haven’t you just changed the conversion rate to fix the numbers'. Yes, well spotted. But I there is a reason.

Better targeting means rather that have messages and lead generation offers that are very generic and can only be communicated once due to the expense of such a large suspect list, you now have a far smaller list where you can communicate a message and an offer which is less generic and more relevant to that person… oh and you get to increase the frequency with which you communicate… it is better to send 10 relevant letters to 1000 people over the course of a year, than 1 generic message to 10,000 once.

You could communicate 5 times as much, for half the price, to people actually interested in your messages and offers. I mean, hello!!!

I’ve also assumed you will work out what it means to create valuable relevant messages and lead generation offers for the specific very tight profile. Make it relevant, high value, interesting and frequent and people will start putting their hand up, rather then you trying to raise their hand for them when they don’t want it.

Action Points

  • Print this page.
  • Get out the excel spreadsheet or piece of paper and calculate a couple of scenarios, see the massive difference conversion rate makes, set your ideal scenario.
  • Profile the different personas of ideal clients for you and your company. Get super detailed, not just the normal; size, industry, title, location….. go far far beyond that, this is a topic for another article - prospect profiling.

Go for it!

 

Sales Success Kit


Public Relations - Do You Have An Ongoing PR Strategy?


Attract New Leads By Getting Regular Messages Delivered In small business success kit The Media

In today's article, the last in our month of Interruption Marketing strategies designed to generate new leads, we discuss PR. Few small businesses think proactively about Public Relations, but if you could get your company's story, situation updates (people and products), key messages, and favourable customer experiences all delivered to your target audience for no cost, wouldn't you want to use this strategy?

So What Is PR?

It's pretty straight forward really; PR (Public Relations) as a profession is the practice of managing a company's communications, it is wide reaching and covers internal and external communications and information flow. As a marketing strategy for new lead generation for small and medium businesses (SMBs), PR can best be used easily in the following four sub areas;

  • Press Releases: Getting an article written about your business and then having it published in the local newspaper, the daily newspaper, TV news or current affairs show, or radio requires a ‘story' that is news worthy. A story that is news worthy provides mountains more credibility that an advert. The audience's natural perception, right or wrong, is that this company matters, it's something special... it got in the news.
  • Awards Events: Becoming a finalist in an industry award provides plenty of opportunities for a positive message to be communicated to many audiences. Awards also build credibility.
    • First you get the opportunity to communicate (in person, by eMail, by letter) to your customers, suppliers and contacts that you are a finalist in the ‘xyz awards' for ‘abc category'.
    • Second, you also get to expose your business to new audiences. You see, most awards are sponsored by one or many companies. These companies want the exposure that the association with the awards event brings. They often communicate messages of congratulations in wider media, and to their customers mentioning the finalists.
    • Third, it is a news worthy story... you can send out a press release about it to get an individual article in relevant media published.
  • Expert Positioning: Why is it that people consider authors, public speakers, and regular columnists as people with credibility and naturally give them more attention that others in the same field. A perception can be quickly built, and solidified over time, of a perceived expertise....that person can become "the expert".... the person to go to first in that field. There is nothing stopping this being you and your company. Here's how...
    • Write a book.
    • Write an article and contact an editor (of any media, magazine, daily newspaper, etc) about having a regular advice column.
    • List in directories as a public speaker for conferences as an expert in whatever your field is.
    • Create a list the associations that you, your suppliers, your referral partners, and your customers are or should be members of, then ring the presidents or event coordinators and setup a meeting to become a quest speaker in your field of expertise.
    • Post 3 answers daily to forum questions. Find the best online forum to reach your audience and commit to either adding comments to posts or starting posts every day.
  • Online Community Building: Online communities include the large sites built for social networking, like facebook, or specific niche community sites, or even sites built by companies as a marketing strategy... they provide a niche community with value but behind the scenes it is a way to educate consumers about that companies specific brands, products, and services.

The goal of online community building is to communicate to each segment in a way that is most relevant to them. Mass marketing strategies of the past communicated the same message to everyone. Now with the increase of media fragmentation and the ability of anyone to find information and even participate in content creation (user generated content) in many different places, communication needs to be relevant. And with the internet it can be.

Let's say your business provided Financial Advice & Planning... This way you could market (communicate) to the youth market (18-30) by launching a new product targeted at 18-30 and communicate & educate about the benefits of starting saving early, compound interest etc through a facebook profile.... You could then communicate in a different way, with a different message to a different audience, eg baby boomers on your own purpose built retirement site, setup to help baby boomers retire.

How Do I Get PR Working For My Small Business?

Press Release Execution Options:

  • Get a PR agency to plan and manage everything. Awesome if you have the budget.
  • Get a professional news release company to write an article each month (they'll find the ‘story' and the latest new worthy info) and send it to a targeted list of editors and reporters. They then follow up the key media to get you published.
  • Get a professional copywriter to regularly write articles about your company. A good copywriter will find the ‘story' by asking you questions. Then they can work their contacts to try and get it published, but you must also be proactive in creating a list of target editors and media of where you want your stories and send the story out and it follow up. Get a person's name to send it to. Copywritters areway more cost-effective than you might think, way more!!! And you can always use the copy for other marketing methods, letters, information packs, brochures, and websites.

One of my clients was lucky enough to have a client send a local newspaper editor an eMail about why they thought they should do an article on my client. Within a few days a reporter and photographer had come out and a few days later the positive article and photo appeared in the newspaper. Now, here's the kicker... if you didn't know this.. media feeds off media... so they ended up with a 3 ½ minute article on a main network TV breakfast show, priceless! If you have a super super friendly client ask them to help out with an email about you to an editor.

  • DIY... good luck! If you try this approach often the story never gets written or the DIYer never does it regularly, it's a once off.

Awards Events:

Just start to take notice, and start entering events where appropriate. I'll tell you what, the worse that can happen is... from filling in the entry form you figure out all the things you are not doing correctly and you'll madly spend the next year dramatically improving your business so you have a chance of winning next year. Wow, a ‘turn-around story', that's another press release!

Expert Positioning:

A little bit of research and you can do any of the options listed under 'expert positioning' above, all with the end result... an expert in your field. Sorry, you already are an expert.... what you need to become is a 'well known' expert, or a 'perceived' expert to new audiences.

Online Community:

This can be hard and easy. Hard because you could stuff it up by pushing a product on a community and you'll get punished and because it is online, what is written about you stays around FOREVER! Easy because it provides huge leverage, you can talk to many in a personal way with one communication. To start requires nothing more than creating an account with a community site, to succeed takes genuine effort and desire to entertain or provide relevant information over product pushing.

This week's Action Points...

Pick an area and jump right in, I recommend you start with Press Releases using execution options B or C (I know 3 companies/people you could use for a great result here, let me know if you want details). Set a goal of 1 published press release per month or 1 every 2 months or 1 per quarter. The important part is the regular showing. PR may not work in isolation, but add it to all your other activities, strategies and campaigns and it can provide huge value and give you more creditability in a prospects mind .... So next time they see your advertising they might think "yes, I want to know more, I'll make an enquiry".

 
Small Business Success Kit


What is SEO & SEM? - I Bet You Could Get More From Your Website?


How To Get More Visitors To Your Website Through SEO & internet marketingSEM...

Don't know what SEO and SEM are? Heck, neither did I a few years ago, but if you don't know about them now, chances are you are not maximising the return on an investment you have most likely already made. I'm talking about the investment of your website.

Search Engine Optimisation (SEO) are the marketing techniques used by a professional to get your website to rank higher in search engines like Google and Yahoo. Search Engine Marketing (SEM) relates to highly targeted ads that appear only to people that are actively looking (searching) for that particular product or service. They are the sponsored links at the top or on the right of Google's search results.

These two strategies are very powerful methods to get more visitors to your website...

I'm Not An Expert In This Field...

And that's the point, you're probably not either. In fact you may just be starting to learn about all this new online stuff and looking for more information and clarity to some of the jargon and terms. I'll give you a basic understanding, and then you can choose to progress as follows;

Step 1) DIY. Do some of quick improvements if you have a Content Management System (CMS) that you have access to on your website (that means the ability to login to your website and edit and add content to it).

Step 2) Get a professional specialist to work on it. This is the best method in the long run, because you and I will probably never learn enough to be as good as an expert in this field. But what is important is an understanding of the basics and what you are looking to achieve.

So, let's explain....

Search Engine Optimisation (SEO)

In terms of internet search marketing strategies, there are basically too method; Organic Search and Paid Search. Organic search is where your business pops up when someone types in a search word or phrase looking for your products, services or profession. The higher you are up on this list the greater the chance people will click through to your website. Obvious really, if you're listed on the first page awesome, on page 4 you're forgotten.

So this brings up the questions of;

  • ‘Why are some websites listed above others?'
  • ‘How does the search engine determine which site ranks first, second, third, etc?'
  • ‘How do I get my website to the top?'

Here's the real issue... Nobody knows the 100% answer to these questions but the Search Engine companies themselves. It's a closely guarded secret. This is because ever since search engines have existed in the mid 1990s people have been trying to manipulate rankings on them through illegitimate ways. You see, search engines work on algorithms... basically complex mathematical equations to determine website rankings. These algorithms are now based on heaps of different criteria, they used to be simple, in fact Google states it now uses over 200 different ‘signals' to determine a web pages ranking. But if you had to boil it down to basics, I'd say there are two main points to work on to begin with to get a higher ranking for your website legitimately;

  • Content: This is the actual words on a website. If you had a business that produced green beans and started putting the words ‘the best green beans in the world' all though a web pages content, then chances are that if someone searched for the phrase ‘the best green beans in the world' you would rank on the first page. The lesson here is the content on your website, and more specifically on individual pages that are promoting the products and services of your business, need to consider what words, questions or phrases people are typing in when searching.

Getting on the first page of a search for ‘the best green beans in the world' is pointless if 99.9% of your prospects used the search phrase ‘green beans provider'. Getting this right requires patience, wow I just struggled to even write that word (patience), but patience and persistence are required to test different words and phrases. This is where a SEO consultant is highly valuable.

  • Links: Google's founders created PageRank. PageRank determines how many other sites link to a page. If a page has many links to it, especially from other sites that have high PageRanks themselves, then that page is given more relevance and subsequently ranks higher in organic search results than other pages related to the searched phrase.

So having your business listed (with links back your site), in large popular websites can build your sites ranking. Such sites include; directories, social networking sites, community forums, media sites.

A professional SEO consultant will know all the other methods to use and how to execute them to affect a better ranking result.

Search Engine Marketing (SEM)

This is a simple marketing concept and strategy really, it's a lot quicker and easier to pay for results in a search engine than work to get high organic search results... it's called paid search. Paid search is what has built the Google empire to make US$16.5Billion in Revenue in 2007. Google Adwords are the listings you see on the right of the page when you do a search.

The great thing for businesses is that unlike traditional fixed fee advertising, paid search has the following features;

  • You are only charged for those people that actually click on your ad.
  • Only people that type in keywords, terms or phrases that you choose to be listed with will see the ad, so you can target it to the correct audience. You can even limit the geographically area right down so that only people that are searching from a city or suburb see your ad.
  • You can set a maximum monthly budget for your paid search campaign, so when that budget is reached, your ad is simply not displayed any more, preventing a unexpected large bill at the end of the month.
  • The price you pay per click (or lead to your website in reality) is determined by you and the open market. If you are prepared to pay $5 per click for a keyword and everyone else is only prepared to pay $0.50 then you'll likely be at the top of the list until your monthly budget is hit.

Key's to making this paid search marketing strategy work are;

  • Use the right key words. This could take some time and testing.
  • Use Direct Response advertising principles and interruption marketing to get people to click on your advert not the other ads. As I've discussed before, offer something... a Free Brochure, or Free Guide/Report to help the decision making process of the prospect.
  • Landing Pages. Paid search should not link through to the home page of your site. People normally search for a specific product or specific service; it's likely you have many products and services. You will be much more successful running multiple paid search campaigns for each individual service or key products... then have a ‘landing page' for each campaign. The sole purpose of the landing page is to capture the prospect details, give them something that is relevant, useful and valuable to them, in exchange for their details.

This week's Action Points...

These two strategies can fall in the too hard basket time after time; I know I'm guilty of not doing enough in these areas. You have the choice, ask yourself this question; "do many people that need my products and services use search engines to find a provider/supplier/retailer?"

If the answer is yes, make a start with the basics described above then get a pro involved, better yet if you have $500 - $1000 a month budget get a pro involved right away. You could start to either of these strategies for that budget using a professional consultant. I've got the details of a couple I believe can add value, if you're interested eMail me and I'll send through their details.

 

internet marketing


Directory Advertising - Are You Listed In As Many Directories As Possible?


Make Sure You're Saying The Right Things And Listed In ALL small business success kitThe Available Directories Ensuring You Get The Bulk Of New Enquiries...

Now I realise you probably think "I'm already in the white pages and yellow pages, so there's no need to read this article, I've got it covered thanks".... News flash, we now live in a time of media fragmentation and drastically improved sharing of information, which means multiple directories across wide and narrow niches and company information at the consumers' finger tips, including community feedback.

Huh??? What does this all mean? Listing in 2 or 3 directories doesn't cut it anymore, it's not enough. Neither is the standard name, rank and serial number listing or ad. Read this article if you want to get more enquiries and lower your cost per enquiry!

Why is Directory Advertising Effective?

Directory advertising is a highly effective marketing strategy for many businesses. Why? Well, it's where you'll find people that are actively looking for a provider of your products or services. All you have to do is;

  1. find out where they are looking and searching, then make sure you have a listing in those directories, (and)
  2. get chosen for an enquiry over the other 1 or 2 listings (or hundreds of listings) in each directory.

Point 1: Where are People Looking and Searching

Hey, we all know about the yellow pages, the yellow pages online, the white pages and the white pages online.... But where else do people look? All sorts of places really. Directories can be all encompassing or closely focused by some form of classification. These classifications include;

  • Media Specific (e.g. Printed or Online)
  • Industry Specific (e.g. Tourism Websites)
  • Product Specific (e.g. Restaurant directories, accommodation websites)
  • Service Specific (e.g. trades businesses directories)
  • Geographic Specific (e.g. Local Directories)
  • Community Specific (e.g. the AA )
  • Demographic Specific (e.g. 50+ groups)
  • Generic Business Listings & Classifications (e.g. yellow pages, finda.co.nz, business.com, yahoo.com)

So, how do you find and choose which directories to list in and which to advertise in? The easiest thing to do is a Google search just like you were a consumer looking for the products or services that your business offers. You will find that whatever pops up on the first page, there is always links either in the normal organic search listings or in the ‘sponsored' (paid adverts at the top or on the right hand side, called ‘adwords advertising') listings for directories. These directories have done the hard work of getting noticed on the web for you, they are where you should, no NEED to be listed!!!!!

Now doing this Google search task is easier said than done. Because you are so close to your business, you may use completely different terms or names to search for your products or services than a typical consumer might. The words different people use can be far reaching... so do lots of searches using different words. This is the easy picking stuff, you'll be amazed at the number of places your business can, should and needs to be listed. Do I recommend you "advertise" in all of them?.... NO. Advertising needs to be an investment, so get the ‘free listing' first (if possible) to check it all out and then make a decision based on the stats of the number of people actually using this directory the ease of use for people to pick a business from it, and ... tell you what, if it has a rating section for each listing, you'll probably want to advertise on that directory. If you don't, perhaps a little concerned what someone might write, that tells you something about how you feel about your business doesn't it!?!?!

Point 2: How to Become THE Business that Gets Chosen Again and Again

It's a self fulfilling event... get a better listing (advert) and get chosen more often, the often you get chosen the more often you'll get displayed first and therefore chosen. The successful get more successful!

It's not enough to be listed everywhere, your listing or advert needs to be better than everyone else's so that your business is the one people take action on to;

  • pick up the phone and dial,
  • click through to your website,
  • email a question or request.

Here's the 4 main things you should do ensure you do on your listing or advert;

  1. List the Benefits of dealing with your company (why should I pick you?) not just the products or services provided.
  2. Many online directories have a ‘rate this business' section... use it, don't be afraid of it. Start with your best customers... ask them to go online and rate you. Then educate your team on the importance of great service, ask them to help you define it, "how do we know great service from good service? What's the difference? What can we do now to get better?". Let them know about the rating and the importance of us making every customer interaction an awesome experience!!!
  3. Pay for placement, at the top and at the front is the only place to be in a list of 50 businesses. Think about it, when do you ever, EVER, look past the top listings in any directory?!
  4. Offer something useful, relevant and free to the consumer that will help them with either;

a) Doing what it is that they are looking at your business to assist with, (or)

b) Making a decision which provider to choose.

As far as Interruption Marketing Strategies go, Directory listings and advertising can be very powerful if you;

  1. position your business in all the areas people are looking for your products and services, and
  2. make sure it is your business that is the obvious choice from the list to pick, by having great communication.

This week's Action Points...

Do the consumer perspective Gsearch right now and see what you're missing out on! Remember to try different search words, you may be best to ask friends, family, customers and suppliers what they would type in...

 

small business success kit


Strategic Alliances - Are You Using This Powerful And Proven Marketing Strategy?


Increase The Number Of Enquiries You Receive...

Strategic Alliances Learn how to put together a quick, simple, low cost, permanent and consistent marketing strategy that removes the stop, start, did it work or not, nature of many other riskier, time consuming and expensive advertising strategies. Strategic Alliances can give you more opportunities to make a sale.

What is a marriage? Well... it's a coming together of two people wanting to share their life together. Why? Well... because life together would / will be better that apart or alone (just roll with this if you're in the cynical divorced camp). From marriage I'm now going to take you on a huge leap to the subject of war. What does each side in a war look to do with other parties not directly involved in the dispute?  Find an ally of course. And why is that? Naturally it will strengthen their position and their likely hood of success. Both of the two examples above have something in common... it's a coming together, a sharing of knowledge and information, a pooling of resources, an alliance, a partnership. Together each partner gets a better result than if they were alone, it's a Strategic Alliance.

In business, and more specifically in marketing your business to get more enquiries, who are you partnered with?

This strategy is called a strategic alliance, or a strategic partnership. Other derivatives include a host beneficiary relationship, or host ben for short. Basically the guts of the strategic alliance strategy is that you form an alliance or agreement to refer or pass on work to each other in your respective fields. Now it obviously makes sense to deal with another business that has a similar or the same target market with a non competing product or service that is complimentary. For example if you own a painting and decorating business, it would make a lot of sense to form a strategic alliance with a carpet layer.... someone who is replacing their carpet is also likely painting either inside or out... or you could have a strategic alliance relationship with many other different "property do up" service type businesses.

Now you could have this in a couple of ways; a) as a simple, I refer work to you, you refer work to me relationship, or b) I refer work to you and you pay me between 5-20% commission if they go ahead, etc...

"Yeah I know this, and I already do this, I have relationships like that with other people?"

Ok, let's get this clear, a networking relationship, or a supplier - customer relationship, or a friend relationship, or similar relationships that you and everyone else in business have (which bring you business every so often, when the opportunity might pop up) are different. What I'm talking about here is a clearly defined agreement or a way of creating the opportunity....being proactive ... not simply reactive. Going from... "if you get anyone who asks ‘where do I find a good painter or decorator?' you give them my details and if I have anyone that asks about a carpet layer I'll point them your way"... going from that normal and frequent good hearted and intention method to... creating the opportunity and offering prospects and clients the opportunity to learn more about other businesses that would add value to them.

Here's how to set up a strategic alliance / partnership within a few weeks...

  1. Understand your own current customers and potential customers, your ‘target market' if you like. Make a description of them.
  2. Identify and list business types and/or industries that have a similar target market. Now this is key.... it's not everyone, so go back to the first step and ask yourself this question about your target market... "What problem are they trying to solve?" and "What outcome are they looking for?". Once you have done that you can then see what other businesses might people / businesses also use, just in the normal part of solving that problem or getting to their desired outcome. You will find there are often many different scenarios or situations that people and businesses have... Here are some examples: 

If you own a real estate sales firm, the obvious thing that they do is sell houses, so real estate firms and agents often default their strategic partnership relationships to people and businesses that help in the transaction of that process, great idea. A mortgage broker, or an insurance broker, or an accountant, or a lawyer, a house inspector, these work very well, but most real estate agents would tell you it's all about getting listings, so wouldn't you be best to form a solid strategic partnership with financial planner / advisor?

Especially now as more people will be feeling the pressure of increased rates, so advisors will be recommending (where appropriate) a sell down of property and a reallocation of funds. So... both parties win, the real estate firm or agent gets a new listing, the financial advisor will likely receive a commission for reallocating the funds and the customer wins by alleviating their current financial pressure. Write down your own scenario, paint the picture of where your products or services help people... what other types of businesses are involved?

3. Take your list of other business types from step 2 above, and get out your address book, business card folder, list of contacts, and your brain (it's called a memory).... right down the names of people and the relating company names next to each of the business types. Use the leverage of your existing relationships and contacts to build a much stronger more effective relationship. I have seen many people attempt to form an alliance or partnership with a business out of the yellow pages, while this can work, make your life easier... start with a current relationship where you have a level of trust and familiarity.

4. Pick a marketing/promotion strategy, or simply a point where each of you can introduce the other business to your respective customers. This is the vital part, this is what makes this different from regular networking referrals... this is the proactive part. Here's a few examples;

i)Offer, to your respective customers and database, a joint seminar that will help both of the businesses customers. Those customers that are interested in learning more will turn up and you now have been introduced to new potential customers.

  •  
    • ii)You could offer a free audit / free quote / free fact sheet or booklet from the other persons business at any part of your own sales process, right upfront before you have even made the sale yourself, or at the end as a special bonus, whatever both parties of the partnership agree on. If the customer shows interest you advise "bob from...(the other business name)...will give you a call to arrange your free....(whatever)". And in reverse the role works for you, done correctly getting you and your partner business far more enquiries or opportunities to make a sale and help the customer further.

Whatever you decide, simply write down the process.

5. Get on the phone and sell the idea to your contacts! Your whole purpose of this call is to setup a meeting or catch up either at their business or over coffee, whatever is appropriate for your relationship. Don't go into too much detail. "Are you interested in learning how you and I can find more potential customers?" "Great, so what the best thing for us to do is get together to talk about it some more, what's best for you, Thursday or Friday? Book a time first, get that commitment (but hey these are people you know anyway right, so this should be easy), then you can send them an outline of the process / your proposal and the associated benefits to them by eMail. Never send info first.

The ball is now rolling, now you must take the lead in doing whatever it takes to make this happen, so you keep your integrity with that person. How about that for a good motivating factor... you'll make it work. And when you do, sure it might that a few tweaks to get it right, but when you do get it right you'll have a new source of fresh leads and opportunities to make a sale.

This week's action points...

Start to use the leverage and power of your current circle of influence. Begin!

 

small business success kit


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