| Have your phones stopped ringing yet? The
economy is lagging and dragging. We've felt the effects in the United States. Now we're
seeing global implications.
So, how do you tackle economic uncertainty?
Cut advertising, travel, training, marketing, and
discretionary expense line items? Cut purchasing? Ouch!
The pipeline starts to dry up and the anxiety level goes
through the roof. Many people think that since there's nothing they can do, they should
just do nothing. But "nothing" is futile thinking.
What If You Could Reach Your Market Without Incurring Any
Hard Costs?
The only budget you need to worry about is your simply your
time… your time to ask for referrals!
You know about referrals. When a qualified prospect is
referred to us, we get a new client typically between 70 and 90 percent of the time.
Additionally, we are pre-sold. Our selling time decreases. Credibility increases. And, we
ace out the competition.
There is no other business-development process that can
claim these results. Results are the only thing that matters. And, now you will be able to
achieve results simply by implementing the following 8 "Killer" strategies.
8 "Killer Steps" to Attracting New Business in a
Lagging Economy
1. Broaden Your Perspective
What business are you in? Redefine and reinvent yourself.
Determine how you can create a leap in demand for your products and services. Build new
alliances and consider alternate distribution channels. Don't go solo. It's important to
assemble a group of advisors and get their input and creative ideas. Include people who
have differing points of view from you. Not easy, but critical.
2. Be Nimble and Innovative
You'll never have all the facts. Make quick decisions. Be
fearless and make tough choices. Create new uses for your products. Why not a new business
model?
3. Dazzle Your Current Customers
Your current customers need care and feeding. Don't ignore
them at the expense of new business, because they are your best source for new business.
4. Prioritize Wisely
The most important activity for any salesperson is to do
what's "closest to cash" the first thing every single day—whether it's
following up with a prospect, writing a proposal, or closing a deal.
5. Become an Expert
Companies hire experts because they can't afford to make
mistakes. Position your company as the expert with a specific product or in a specific
market niche. Become an expert and people will be more likely to refer you.
6. Stay Connected
If you want to get more referrals you have to network like
crazy. Attend a minimum of one event a week. You never know who you will meet and what you
will learn. Never let your network go down. Networking is an essential referral marketing
activity. So go make connections and build your business.
Talk to people and find out how you can help them. How is
their business doing? Are they impacted by the lagging economy? How? Don't email, call.
You make connections by talking to people and by spending the time to have a robust
conversation.
7. Don't Cut Prices, Increase Value
There's a lot of chatter about cutting prices in a lagging
economy. Many small business owners think businesses are cutting back, so prospects don't
have money for their projects. But, by cutting prices, you're cutting your profits even
further. Instead, consider how to "get in and get started." Divide your offering
into smaller chunks, get results, and create traction. Or, give more value. When you offer
high-value products and services, people will refer you and you will get more sales, even
in a recession economy.
8. Commit to Building Your Referral Business
Referrals are always terrific, but they mean even more in a
lagging economy. Don't let the lagging economy trickle down on you. Take charge and make
your phone ring again! Let your prospects know how much you care about them. Tell and show
just how much you appreciate their business. Inform them that you'd like to help people
just like them. And, don't forget to thank your prospects and clients for their referral.
Follow these tips and you will get more referrals. You will
attract new business. You will get more clients. You will accelerate your sales. And, you
will achieve higher results without increasing your cost of sales. In fact, there's a
great chance that you will decrease your costs! |
