Tips from the Top - April 2014
Mailing List Math
When it comes to purchasing lists, you get what you pay for…Read more
The Perfect Cold Call
Warm up your cold calls with just one question…Read more
Why a Referral Marketing System is Important to Your Business
4 reasons referrals are the most cost-effective way to acquire new clients…Read more
Vendor Referral Program
Often times we look to our clients to give us referrals. Another good place to ask for referrals is from vendors. They know you. They want to keep you as their customer and they want to keep you happy. One of the ways we asked our vendors was to put a vendor referral document with each of their payments. We also emailed them.
If You Are Happy and You Know It
After our service technician completes a service call, a sales person will follow up to ensure the job was completed satisfactorily and met the customer’s expectations. If all is well, the sales person asks for a referral. This process has significantly increased our lead generation.
A Unique Way to Get Their Attention
In today’s economy, it is increasingly difficult to get work through open bidding. Our goal is to be in the position to negotiate work with General Contractors and not be subject to bid wars. To do this, my team came up with a way to get noticed by those who influence decision making. Instead of the usual "box lunch" and presentation, we decided to conduct a raffle for a large screen TV for those attending our presentations. Attendance skyrocketed and we developed relationships at the larger firms that we would not have gotten through traditional means.
Targeting Beyond Demographics
There are many new internet based tools that have come to market in the last few years. One of the best new websites for gathering leads for narrow or somewhat esoteric submarkets is ESRI. This site allows you to build lists of potential customers based on psychographics – such as lifestyle, behavior and attitude – rather than just demographics. The site also allows you to target prospects by zip code.
Are you receiving lots of inquiries from potential customers? Are they qualified? While sales is a numbers game, you need to make sure you remain focused on your core competencies. If you are spending too much time on prospects that aren’t qualified, then your marketing process isn’t doing its job. Disqualifying a prospect is invaluable. Make sure your website and other marketing materials are very clear about "who" you work with. Don’t offer services that will attract prospects that aren’t within your target market. I learned this the hard way as I had more inquiries coming in than I could handle and many of them weren’t good prospects for my business.
Maxim for Marketing: The 3x3 Rule
All marketing is relationship building, over the long term. We use a system called "3x3." Three of our key leaders must know at least three C-level people in our top clients’ organizations. This system equates to nine relationships per key client – or, say, 180 relationships that must be developed for 20 clients. Every week we establish goals for closing the gap on relationships that must be initiated and fostered more deeply in the upcoming week and quarter to meet the "3x3" goal. This system works to keep us first in mind for client projects and to develop other business market intelligence.