The Radio Show
Identify New Users for Existing Offer
Join host Simone Douglas as she discusses part 2 of her second topic on how to identify new users for existing offer as presented on the IBGR Network – Results Radio.
Week two of your seriously social journey, a path that changed the way I do business forever and whose benefits regularly surprise me in terms of the opportunities they generate.
It is easy to get distracted by all the noise in the business world at large but jump day is your chance to settle in and work on your business in ways that allow you to make the most of your opportunities today, tomorrow and forever.
What’s the hardest thing about growing a business? For many small businesses, the answer is finding clients or getting customers. Customer acquisition is particularly difficult if your marketing budget is limited. IN today’s show I will take you through some time-tested strategies to help build your customer base.
IBGR is committed to your success and our programming is designed to give you the tools and resources as well as the one percenters you might be missing that are the difference between feeling like you are stuck on repeat and that weekend getaway you book yourself to celebrate hitting your milestones this quarter.
Have a fantastic week, hopefully we have turned your hump day into jump day and you are all fired up for success.
Show Objectives – The Why
Like any good business customer acquisition in the beginning is easy to a degree, but eventually you find yourself asking – what’s next? How do I grow without reinventing my business model? What else is out there?
Key Issues – Owner Perspective:
- How to find new customers and increase sales.
- Defining the market for my product or service
- Generating sales leads and closing the deal.
- Building your referral networks and strategic partnerships.
What You Need to Know – The What
- Define the ideal customer.
- Develop a plan for customer acquisition
- Look for and follow business prospects on social media (define your SNAP)
- Market research – the top 100.
- Work within and expand your networks.
What You Need to Do – The How
- You can get to know your customers and segment the market any number of ways including the ones below:
- Demographics — statistical data on a population including income levels, age, etc.
- Psychographics — the attitudes and tastes of a certain demographic.
- Ethnographics — examination of particular cultures.
- Buying habits — how, what and where customers purchase products and services
- There are a variety of age-old staple techniques and newer tools you can use to find new customers and increase sales. It’s best to understand the choices you have in order to determine which may best allow you to reach new customers
- Cold calling – tried and tested but works on the basis that it is a numbers game
- Networking – it is important to evaluate both structured and unstructured networking events
- Digital advertising – Google, LinkedIn, Facebook, instagram and Twitter
- Event Sponsorship
- Run your own events
- Cross collaboration and promotion
- SNAP – Your Social Networking Action Plan – there is way more to Social media than just the marketing understanding and mapping out your “SNAP” will drive action and success
- Identify the top 10 mid tier companies in each market segment and reach out to them by phone to do some market research (100 calls in 10 days).
Previous: Episode C3.007 Opportunities to Increase Share of Wallet with best Customers
Next: Episode C3.009 Balance Between Selling to the New and Servicing the Old
Written by Simone Douglas
The Publican & Licensee of the Duke of Brunswick Hotel, Executive Director for BNI Adelaide North one of the biggest networking organisations in the world, the driving force behind South Australia’s leading social media agency, Social Media AOK and now best-selling author with her first book “Seriously Social – turning your online game into real-world gain”.
This is William Eastman managing partner for Growth Works Media and station director for IBGR. One of my jobs is finding great on air talent. Consultants and business owners with a presence and a story to tell. We’re expanding our broadcast team to represent our four core time zones; North America, Australia, New Zealand, Singapore and the Philippines, the Indian subcontinent and the last of four, United Kingdom, Ireland, Europe and Africa. If you are a small business consultant or business owner and would like to audition for an on air slot in our six hour show cycle, contact the station director and that is that programming at IBGR.network. We will respond to your email within one business day. Thanks for listening and don’t miss this great opportunity to put the world back to work and grow with us.
Is your CRM Making your business grow. When surveyed, about 90% of business leaders admit that their CRM isn’t. The most common cause for that? Salespeople don’t use their CRM the way they should. Why not? Well, it takes them too much time and discipline to fill out this form completely. And if salespeople don’t, the CRM system becomes useless. That’s why when started salesware we asked ourselves, what if we build a CRM system that fills out itself? What if you build a system that serves us existing data so that you know and remember all about your customers and never forget and disappoint another lead. That’s what Salesware does today. It pulls in all the data buried in your emails, email signatures, calendar, phone, social data, company database, email, web tracking, and offers it to you in an easy way so you and your CRM are always up to date. Want to see this for yourself? Head to salesware.com and get your free trial.
Simone Douglas 1:56
You’re listening to the IBGR.network more than a radio station you are now part of a global business family dedicated to helping you achieve your goals. I’m your host Simone Douglas and today we’re in episode eight of our C lane IBGR.network sales and marketing. So go to our website at IBGR.network and download the show notes to catch you up on the show so far if you’re only just joining us. We’re going to move on now to what it is that you need to know when it comes to going in and finding these new customers for your existing products or services. So probably the first thing is we need to know how to define that ideal customer. That’s kind of important, as I said earlier, so before you can charge ahead and zone in on your target, you first need to have a solid handle on what exactly an ideal customer is. When you think about it this way, the entire concept is fairly simple. Your ideal customer is someone who gets their exact needs met by what you’re offering. Makes sense, right? But most companies niche it down even further than that in order to develop a true comprehensive understanding of their customer. So some of the ways that we need to do that is we need to really understand what are the features of the product or service that we’re offering and what are the benefits to the customer in acquiring or using that product or service. So we’ll break it down by demographics and all sorts of other ways. In the following segments today, but just get some clarity again around you know that perfect customer, if you keep it simple. Is someone who gets their exact needs met by what you’re offering? I like to think that the perfect customer is also the customer that exactly meets my needs as the business selling them the product or the service. So perfect customers are always a joy to work with and they end up being part of your family when it comes to business to business.
So, number two, you need to know your product or service. Okay, so first things first, you need to have a solid understanding of your business. That doesn’t just mean knowing the ins and outs of your financials and being able to recite your website copy in your sleep. Instead, you need to have a deep knowledge of your business from your customer’s point of view. Some of these things include what the experience is for the customer as their onboarding when they first discover you. So what is the customer journey of discovery of your product or service, where are the opportunities for you to educate them about how you can make the most of their relationship with you and your business and how you can deepen it over time. So you need to understand what their journey looks like from beginning to end, and how their businesses evolve as your customers as well. Now, obviously, in business to consumer, it’s a little bit simpler to a degree, but then really what you’re trying to understand is how you foster brand recall and recognition so that you’re getting the most out of your customer cycle and that you’re having them turn into those raving fans that it’s sending more and more people to come and buy your product or service from a business to consumer perspective. Okay. So now that you know exactly what defines an ideal customer, it’s time to get to work and reach out to them. Okay, and there are some key steps that you need to take. So hopefully you’ve got a notepad and a pen somewhere near you so you can jot down exactly what it is that you offer to your customers. And the first thing that we want to think about is, what problems do you solve for them or what challenges do you address? Why should people buy from you instead of from your competitors, and what really sets you apart. Who is it that actually benefits the most from your product or service? When it comes to this question it be really honest with yourself, it’s not enough to determine who you want to benefit the most, you need to identify who is actually finding value in your offerings right now. Once you’ve got some clarity around that, then you can start determining your goals because there’s no point undertaking a customer acquisition journey if you don’t know how many customers you want to acquire, in what locations they exist, potentially, what kind of demographics and how many of them mean need to acquire in order for you to meet your sales, targets and profitability targets.
So, like I said, once you have looked at your business through your customers eyes and identify who’s currently buying from you, and we need to set those goals. So are you happy with this current type of customer? And more importantly, are they happy with you? Or do you feel that you’re not appropriately targeting the people who would value your business the most? For example, if you’ve been working with a lot of startup founders, but would like to form partnerships with more enterprise level companies, then you really need to think about what those enterprise level companies want from you when you’re selling this product or service into them. And how can you ensure that they have a good customer experience from start to finish? So they go out and talk about your company in the wider business world. Another good thing to do is to analyse past interactions with your existing customers so your past interactions with customers can reveal a lot both good and bad. By combing through any major mistakes and successes with previous or existing customers, it will definitely help you in narrowing your focus. If you sort through your past interactions and pull out what you can, that information will be incredibly value, incredibly valuable in the next step. So, the next step is that we need to start looking for and following business prospects on social media, so defining your social networking action plan, so that you can get the most out of your digital networks. So let’s use the medical example, so if I know that general practitioners or doctors and dentists are great clients for my existing product or service, then you know one of the things that I might start doing is following all of the local general practices and dentists, dentist surgeries Facebook pages, I might also start searching for dentists and doctors on LinkedIn, and reaching out and connecting with them, but I’ll have a strategy then that sits behind that that says, you know, this month I need to connect with 20 doctors of those 20 doctors, I need to have struck up a conversation with at least four of them, that’s going to be my key success indicator. If of those 20 digital connections who I’ve never met, four of them I’ve got to a point where we’re exchanging communication. And then from there, I want to turn at least two of those four into a coffee whether it’s a virtual coffee or a face to face coffee, depending on the current environment or geographic dispersement, it’s coffee where the business is done. Okay, so what we need to remember is that the way that we do business really hasn’t changed. I will do business with people that I like, know and trust – people who I’ve had the opportunity to get to know. And so, one of the things that you need to do is use your digital channels to prequalify and start educating your customers on why your business is the best choice for them, and that won’t be how many awards you’ve won, it won’t actually even come down to, you know your product or service necessarily, it will come down to the story that you tell them about the benefits that you’re going to provide to them, because they are your ideal customer for this specific product or service. So we also need to do a bit of market research, and this is the bit that most people avoid. Interestingly, they think that Google can tell them everything it is that they need to know about their market, and that’s simply not true. So I like to call it the top 100. So in your segment or industry targets, and I would usually say that for most successful mid tier businesses, you’ve probably got 10 segments or industry targets that you want to play within that you’ve worked out will work for your business. You want to choose the top 10 in that space, so that might not be like the top 10 in the industry because if you want to go in middle of the market, you’re gonna choose the top 10 in the middle of the market, if that makes sense. So you can do market research with companies that play at the level where you want to play. Working out who those people are, though, and reach out and just start asking them some questions and clarity around the benefits that they want, the features that you’re looking for so that you can tailor both your offering and your marketing messaging. Again, LinkedIn is a really great place to do that, because it will give you an informal place to have a conversation. Just don’t make the mistake of selling at people, if you can just remember to put the relationship ahead of the sale, often people are happy to ask, ask and answer questions if they work out that they’re not trying to be served up for dinner, if that makes sense.
Okay, so you need to do that market research, tailor your offering and tailor your marketing, messaging, all of those things are important. And then we want to work within and expand your networks. So we really need to cultivate, cultivate the buzz here so you know you want to play with but where do they play? This is where we start looking at both structured and unstructured networking to support you in doing this and making it work. So one of the things that we do Hospitality and Tourism is a really good segment for us, and so we work really closely with the Australian Hotels Association and South Australian Tourism Industry Council to form really strong relationships and to network in their informal or unstructured networking events so that we’re seen on a regular basis, but I also have an agreement with them that I will come and present at least four times a year on various marketing topics, sales topics, social media topics, and what that does is it places me in the position of expert within my target market, so it’s really powerful way to reinforce when they see you at an unstructured networking event if you’re delivering professional development for their industry association. So identify those industry associations and networks you want to play. And also go and find yourself a structured network like Business Network International, where you’ve got 30 other business owners or more who are looking to find you referrals every week. So you want both structured and unstructured networking in order to achieve your goals.
So very shortly, we’re going to be taking a short two minute break. And when we return, we’re going to cover off on the how. How we get to know our customers the techniques to leverage and utilise, to make friends with them, and why SNAP will use social networking action plan matters, and like I said, we’re not talking about the card game here. We’re talking about something that’s far more useful to us as adults and as business owners, all of those things will matter. Remember to join us join the community a commerce is located on our website under the Join Us tab. our free business only social network is focused on connecting business owners to our on air talent, as well as other business owners around the globe. So we really want to get the conversation started, and you as our listeners are part of that conversation. So too often, in life and in business, people make assumptions about what we as business owners need. We want to hear it from the horse’s mouth. So if you’re out there and you’re struggling with something or you’re not sure about how to access a market, you know or your marketing isn’t isn’t hitting the mark. All of those things are great questions to pose in our online community, where you’ll not just get opinions from us as the on air talent, but you’ll get opinions from other business owners around the globe. You’ve been listening to episode eight in our C lane and I’ll be back shortly.