The Radio Show
Identify New Users for Existing Offer
Join Simone Douglas for her second radio show episode, part 3, with the IBGR Network – Results Radio as she shares her insights into Identifying New Users for Existing offer.
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”.
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 CRM completely. And if sales people don’t, the CRM system becomes useless. That’s why when we started salesware we asked ourselves, what if we build a CRM system that fills out itself? What if you build a system that surfaces existing data so that you know and remember all about your customers and never forget and disappoint a other 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? Have to salesware.com and get your free trial.
This is william Eastman managing partner for Growth Works Media and station director at iIBGR. If you listen to any of our broadcasts, you know we consider entrepreneurs part of one family, people who are the heroes of our societies because they put their soul into the game and risk failure for everybody else. We want to meet and get to know everyone like having a family. Plus, provide the highest quality of programming we need to hear from you. The place to start is to become a subscriber. Every week, we will send you our broadcasting schedule, links to show notes, and occasionally a gift like something practical from our toolbox. It is simple to do go to our Join Us page sign up and become part of the most important global community. Entrepreneurs never forget. We create over 50% of the jobs around the world. We look forward to meeting
Simone Douglas 2:35
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 I hope you’re enjoying the show so far. This is episode eight in our C lane at IBGR.network sales and marketing. If you go to our website, IBGR.network you can download the show notes from there and that will give you the cliff notes version of everything that I’m talking about today. Depending where you are around the globe, you can listen live four times per day to this show every Wednesday in Australia. So if you’re in Toronto, Canada, it’s from 2pm till 3 local time. in Sydney, we’re looking at the 10am time slot. In Mumbai I’m joining you for the midnight hour so 11:30pm to 12:30am. And London, England you have me for lunch 1pm till two. So as we move on, we’re now looking at what you need to do, or how to how to actually get around to accessing all these customers, so you can get to know your customers and segment the market any number of ways including some of these. One of the things that’s really good to look at is demographics. So statistical data around population including income levels, age, qualifications, types of employment demographic data, is a really important step when you’re looking at either your Facebook marketing or even your LinkedIn marketing from the perspective of that paid advertising and your capacity to stalk your ideal clients legally and yes, I did say stalk. So the advantage of conversion pixels is that we can see everything that our customers are doing to a degree. Then we have psychographics. So these are the attitudes and the tastes of a certain demographic. So having a clear understanding about, you know, the way that a demographic likes to receive information, how it needs to be packaged, whether they prefer things from a video perspective, or you know, still images, or you might use specific types of language to attach to those things. Also, we can look at ethnographics so that’s the examination of particular cultures and why and how they find an interest in your messaging or in your product or service. And we can also look at buying habits so how, what and where customers purchase products and services. How they discover them as well. So just to recap on that as you’re segmenting your customers, you want to look at their demographics, psychographics, ethno graphics and buying habits these are all important pieces of information. So, there are a variety of age old staple techniques and newer tools that 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. Now, as I said previously, in the show cold calling is a tried and tested system and does but it does work on the basis that it’s a numbers game. I don’t tend to be a fan of cold calling simply because I don’t like to ever burn contacts and consistently cold calling people or spam emailing them via LinkedIn means that you burn more contacts than you make, so I prefer to play the long game and the game of relationships and hence the title of the show because I take a humanistic approach to marketing. Networking though, is a fantastic way to access new customers and to also build your personal brand cloud and professional brand in the marketplace. So it’s important to evaluate both structured and unstructured networking events, like I said, and to set yourself some key performance indicators around the number of networking events and diversity of networking events that you attend.
Now you can have all sorts of levels of this. I like to say that you know, if anything, I’m over networked if that’s even possible. So my KPIs for this are that I will attend at a minimum one Business Network International networking meeting a week. So that’s a structured network that has you know, fixed variables, and then I will attend one industry association or you know, other group, unstructured networking event a week. Okay, so that might be, you know, your local Chamber of Commerce, you might go and attend that, or you might realise that that you have a Chartered Accountants Association or something like that if that’s one of your target markets. So regularly going out and stepping out of the pond where you’re comfortable and going into wider networks will allow you to determine whether there’s value there. But just bear in mind that most networks, it takes at least a year to get any real traction. That’s not to say that you might pick up some sales but in order to get to a point where your visibility and credibility is such that people are actively passing you referrals are trying to facilitate introductions for you, takes time. You have to earn your stripes. You also have to prove that you’re not there just to hunt out, you know, the easy wins. It has to be a reciprocal relationship. So networking is very important and having a plan around it and how many events you’re going to attend becomes, you know, critical to that.
Then we’ve got digital advertising, so some of the things that you need to consider are, you know, should you be doing Google Ads? Is that something that you need to look at? Should you be just doing display remarketing so that if someone clicks on your website but they actually don’t choose to buy, your advertisement continues to follow them around the internet until they make that purchase decision. Display remarketing is particularly important if it’s a slow purchase cycle. In other words, if I’m doing a lot of research, and I’m likely to do a lot of research, you want to make sure that they can’t escape your brand. That’s really, really important. If you’ve never seen Google Display remarketing by all means, feel free to go to my website, socialmediaaok.com.au and I will stalk you around the internet for the next 30 days. Just to remind you that being seriously social is very important. We also then, like I said, we have LinkedIn there’s a range of different options there InMail is probably the one that LinkedIn users do the worst. So we often as a LinkedIn user, will get a sponsored InMail from someone that’s a very carefully crafted sales copy that goes into all the details about how you’re going to solve all of my problems. Now, the problem with this is that you don’t have a relationship with me yet, so instead of pitching to me straight away, which I like to call premature solicitation, you need to make sure that you’ve spent the time to get to know me. So rather than wasting your emails by leaping straight to the sale, start by opening the conversation and find creative ways to introduce yourself to what is actually your ideal customer and target market. Okay, but there’s also all sorts of other ways to look at your LinkedIn advertising with sponsored content. Obviously, we’ve got Facebook that’s particularly good at advertising, but a lot of people don’t understand the level of targeting in Facebook and the fact that you can upload your own databases and segments and create lookalike audiences, so people that are the top percent top 1% match to your existing ideal customers. Now, that’s a really powerful tool to ensure that your marketing messaging is likely to have its best chance of getting cut through. And if you bear in mind that Instagram is owned by Facebook, so Instagram has a lot of fantastic advertising opportunities as well to get yourself out in front of your customers. Just remember that Facebook ads and Instagram ads should be created and packaged for the platform. Don’t try and run the same ad across both platforms. It never works and it won’t get you the cut through that you’re looking for. And don’t forget Twitter. So we’re in a global marketplace. So whilst Twitter may not work in some countries, or in some segments, in others it’s really powerful so look at their advertising options as well. In terms of putting your messaging in front of your ideal customers. We can’t forget the time tested event sponsorship. So are you running your own events or sponsoring somebody else’s events? Is that how you put your brand in front of people? Now be really clear, though that if your sponsoring an event, find out really what’s in it for you, are you going to get access, you know, to the email list of all of the attendees in order to send them a thank you for the event attendance, are you can have the opportunity, know, to present or to chair a panel at the event, all of these things will become really important. And don’t forget cross collaboration and promotion as well. So go out to your referral partners and go, can we have a meeting to talk about what’s happening for you and for everybody in a way that we can all win? Do you have my target market? I no, I have your target market, so let’s have a conversation about how we can start working together to build our audience. So you’ve heard me talk about SNAP a fair bit. So your Social Networking Action Plan is way more so to social media than just marketing and understanding and mapping out. Your SNAP will drive action and success, particularly if you have sales teams. So start identifying who has the audience you already want to speak to, and start strategically commenting, liking and engaging with those people, those companies social media channels on a regular basis from your company profiles. Now, that doesn’t mean you jump on there and say, hey, guess what I sell widget x and product y. What it means is get on there and make useful commentary that piques people’s interest, gets their attention because we can’t help ourselves. We’re a voyeuristic society, and if you’re commenting enough on a channel that I’m paying attention to, and I keep seeing your brand pop up, I’m more likely to click through and take a look at what it is that you’re doing because curiosity will get the better of me.
Remember that we need to identify the top 10 mid, mid tier companies in each market segment and reach out to them by phone to do some market research. I like to call it 100 calls in 10 days. Okay, so that’s not too bad. So only 10 calls a day and all you really try to find out is what are their challenges. If someone could solve their biggest problem, what would that be? What would that look like? What’s the thing that would free up the most amount of their time or otherwise, depending on your product or service, but you’re not selling to them, you’re asking if they happy to spare five minutes for market research. Really, that’s all that is.
So very shortly, we’re going to take a short two minute break, and when we return, we will bring it all together and look at why any of the things we’ve covered so far matter, and what the direct impact can be to your bottom line. So we know that getting our marketing right and making sure that our marketing dovetails into our sales process, and where we’re going is key to converting those new customers that we’re trying to access. But first, we need to start the conversation with them. And that’s a critical part of your success. Remember to go to our website at IBGR.network, click the listen now tab and then the show notes. And if you look for episodes C3.008, the show notes will help keep you on track. Keep an eye out very soon, we’re launching our Android and iOS app, so you’ll be listen, able to listen to your favourite IBGR programming whenever it suits straight from your phone. So, make the most of this opportunity to become part of the community and drive the conversation by joining our online community in a way that matters. You’ve been listening to episode eight in our C lane via IBGR network sales and marketing International Business Growth Radio Network. I’m Simone Douglas and I’ll get back to business after a short break.