No matter what stage of life your business is in - whether you’re a new startup or an established enterprise - acquiring new business is always a key goal. Each organization has different strategies around this and we’ve compiled some of our favorites to give you inspiration.
Here are six ways to acquire new business you may not have tapped into yet.
An incentive-based customer acquisition strategy can bring you a tangible return on investment. Giving a discount or money back guarantee in the beginning, makes potential clients more comfortable in trying something new and more likely to buy. Rewarding your leads with gift vouchers is another non-cash incentive you can use to attract interest and build a perception of value for your brand. You can complement all the above by actively participating on your social media sites and publicly recognizing your followers.
Ex. Subscribe to a company’s newsletter and receive 10% off your first purchase.
Paid digital advertisements are known for bringing in lots of traction to your website from clientele and industries you haven’t previously reached (or even thought of reaching). And since more and more people are spending an increasing number of hours per day on social media and doing their own online research, you can reach your customers where they’re at and make them come to you. With paid digital, you can zone in on any customer segment in any part of the world, where you may have previously overlooked.
Ex. A targeted Facebook advertising for a current promotion or requesting a demo or Google AdWords campaign around your ideal keywords.
Analyze your lead qualification strategy.
How are you currently qualifying your leads when they come to you? Are you finding that you have a higher number of unqualified leads? Take a look at the criteria you’re using to qualify leads and what types of interactions you’re having as a result. Use those insights to guide you in shaping future iterations of your lead generation strategy.
Ex. If you’re currently promoting your business using a paid digital advertising on Facebook but are finding that 86% of leads coming in are unqualified, Facebook may not be the best place to find qualified leads. Do some further digging into your buyer personas to figure out where you’re more likely to get in contact with them, and reshape your lead generation strategy to follow suit.
Look for new sales channels.
While you’re taking another look at your buyer personas, see if there are currently under-utilized sales channels you could be taking advantage of. Are you only emailing your leads, and completely bypassing the opportunity to contact them by phone? Are you only targeting CEOs on your paid digital advertisements, but could really stand to include VP-level executives? Once again, return to your buyer personas and see if there’s anything about them that you’re not currently serving.
Networks and referrals.
They’re not just for the job search! Using your professional network and asking trusted colleagues and professional friends for referrals is a great way to increase your amount of new business. If your colleagues and friends can vouch for them, chances are they’re high quality. Referrals are the best type of new leads and if you don’t have a program in place, now is the time.
Ex. Give $10 get $10 : Give $10 off to your friend and receive $10 off your next purchase
When you’ve nailed down your ideal buyer, it’s time to begin the email prospecting and cold calls. Based on your buyer persona, find the ideal clients information and get in touch. But don’t just send two emails and assume they aren’t interested. Most leads need 8 touches before conversion, so pair that email campaign with a call campaign to further qualify, make a product offering, or just confirm you’re talking to the right people.
Ex. Complete an email campaign promoting a current offering and have a callforce follow up to confirm receipt and qualify.
Constantly acquiring new business is essential for your organization to keep growing. But just because it’s vital doesn’t mean it needs to be difficult. These five methods can keep your business portfolio growing without you losing your mind.
Did these inspire you to look at your pipeline differently? Request a demo to see how VOIQ can expertly takeover your next call campaign.