Variety marketing strategies are applied to reach your customers. However the nature of your business also define the best one. B2B business has different marketing approach compared to personal one. In the below explanation we mainly focus our discussion to B2B business. How do you generate your next customers ?
* Satisfied customers :
Both current and previously satisfied customers are the most effective sources from generating your next customers. Customers not only provide the additional business but also refer to other prospects. Referrals of leads in the same industry are very important due to we have better understanding of the unique needs of the organization.
* Endless chain method
Additional leads from each person we interview whether the person are our satisfied customers or even the person did not buy from us. Some people objects to have their names used as a means of opening the door to friends or business acquaintances. Others, particularly those who trust us and enthusiastic over the products or services, will not hesitate to provide the names of additional prospects. The name of lead provided by either customers or a prospect known as referral leads, is generally considered to be the most successful type of lead.
* Center of influence method
In the center of influence method, the salesperson cultivates a relationship with well-known, influential people in the territory who are willing to supply lead information. This method, as with endless method, works best if the center of influence is already a satisfied customers of the businessperson. In industrial selling situation the center of influence are frequently people in important departments not directly involved in the purchase decision such as : quality control, equipment maintenance or receiving. The businessperson keeps in close touch with them over extended period, solicit their help in a straightforward manner, and keeps them informed on sales that result from their aid.
* Promotional activities
Most companies elicit a steady supply of sales leads with the advertising, catalogs, publicity, direct mail, trade shows and seminars. Successful businesspeople develop an effective system for utilizing and managing such leads.
Inquiries
Firm have developed sophisticated systems to generate inquiries from leads. For example the company send out direct mail to potential clients. The firm also places advertisements in trade publications such as Control Magazine. A reader of the ad can request additional information by using the 800 number in ad or by using the reader service card in the back of magazine. A growing trend is to tie the marketing promotion to an 800 number and the inquirer's fax machine. The prospect calls the 800 number, talks to the salesperson (or voice activated system such as voice mail) and then is asked to supply his or her fax number. The requested information is sent within a seconds often while we still on the phone with the prospects.
Trade shows
Many companies display or demonstrates their products at trade shows, convention and fairs. The company has the sales representatives present to demonstrate their products to inquiring visitors, many of whom have not been called on by us before. Often the primary function of salespeople is to qualify leads for future follow up. Typically having 5 to 10 minutes with the prospects, they need to get down to business and qualify the visitor quickly. At the other trade show (e.g : furniture shows) salespeople actually sell and therefore generally spend more time with the buyers.
Seminars
Many firms use seminars to generate leads and provide information to prospective customers. Andrew Corp, an Orland Park, Illinois, manufacturer of electronic communication equipments, may be one of the most savvy practitioners of business to business seminars. To target the right crowd, the company relied mainly in its own database, consisting largely of inquiries. Experts in seminar field regard this core group his year as the most fruitful source of new business. For this year's series, Andrew Corp, also rented three trade magazine mailing lists and matched them with its own list to come up with a final registry of 43,000 names. The company likes to to mix current customer with new prospects in a 1:2 ratio figuring that satisfied clients not only may buy more but may also pass along word of mouth testimony about the company's products. To reach its audiences the sales and marketing department prepare and sent our a four page invitation to its free, daylong seminar. It detailed the topics to be covered, suggested who should attend, and asked for two names to be listed on reply card or by way of an 800 number. During the lunch break, sitting at each lurch table of 10 persons of sales, marketing, or telemarketing rep., who acts as a facilitator and sounding board. The reps job, apart from presenting a company face to the group, is to gather reactions to the morning seasons, provide the names of contacts and request each attendee to fill out one-page evaluation. The questionnaire, is the company's vehicle to have the feedback. It asks such relevant questions as each person's reason for attending, his/her upcoming products requirements, and the status of any projects-included installation date, value of total projects, budgeting phase, and the name of decision makers. A preliminary review starts after lunch. Sales and marketing people separates the lead into 3 categories : (1) qualified leads - companies with projects and budget approved and will be implemented less than 1 year. (2) Companies with plans for projects and perhaps a tentative installation schedule. (3)those who has not set plans but who may be seeking information for future requirements. The evaluation travel to headquarter where the manager take immediate actions on those in the top priority category.
* Satisfied customers :
Both current and previously satisfied customers are the most effective sources from generating your next customers. Customers not only provide the additional business but also refer to other prospects. Referrals of leads in the same industry are very important due to we have better understanding of the unique needs of the organization.
* Endless chain method
Additional leads from each person we interview whether the person are our satisfied customers or even the person did not buy from us. Some people objects to have their names used as a means of opening the door to friends or business acquaintances. Others, particularly those who trust us and enthusiastic over the products or services, will not hesitate to provide the names of additional prospects. The name of lead provided by either customers or a prospect known as referral leads, is generally considered to be the most successful type of lead.
* Center of influence method
In the center of influence method, the salesperson cultivates a relationship with well-known, influential people in the territory who are willing to supply lead information. This method, as with endless method, works best if the center of influence is already a satisfied customers of the businessperson. In industrial selling situation the center of influence are frequently people in important departments not directly involved in the purchase decision such as : quality control, equipment maintenance or receiving. The businessperson keeps in close touch with them over extended period, solicit their help in a straightforward manner, and keeps them informed on sales that result from their aid.
* Promotional activities
Most companies elicit a steady supply of sales leads with the advertising, catalogs, publicity, direct mail, trade shows and seminars. Successful businesspeople develop an effective system for utilizing and managing such leads.
Inquiries
Firm have developed sophisticated systems to generate inquiries from leads. For example the company send out direct mail to potential clients. The firm also places advertisements in trade publications such as Control Magazine. A reader of the ad can request additional information by using the 800 number in ad or by using the reader service card in the back of magazine. A growing trend is to tie the marketing promotion to an 800 number and the inquirer's fax machine. The prospect calls the 800 number, talks to the salesperson (or voice activated system such as voice mail) and then is asked to supply his or her fax number. The requested information is sent within a seconds often while we still on the phone with the prospects.
Trade shows
Many companies display or demonstrates their products at trade shows, convention and fairs. The company has the sales representatives present to demonstrate their products to inquiring visitors, many of whom have not been called on by us before. Often the primary function of salespeople is to qualify leads for future follow up. Typically having 5 to 10 minutes with the prospects, they need to get down to business and qualify the visitor quickly. At the other trade show (e.g : furniture shows) salespeople actually sell and therefore generally spend more time with the buyers.
Seminars
Many firms use seminars to generate leads and provide information to prospective customers. Andrew Corp, an Orland Park, Illinois, manufacturer of electronic communication equipments, may be one of the most savvy practitioners of business to business seminars. To target the right crowd, the company relied mainly in its own database, consisting largely of inquiries. Experts in seminar field regard this core group his year as the most fruitful source of new business. For this year's series, Andrew Corp, also rented three trade magazine mailing lists and matched them with its own list to come up with a final registry of 43,000 names. The company likes to to mix current customer with new prospects in a 1:2 ratio figuring that satisfied clients not only may buy more but may also pass along word of mouth testimony about the company's products. To reach its audiences the sales and marketing department prepare and sent our a four page invitation to its free, daylong seminar. It detailed the topics to be covered, suggested who should attend, and asked for two names to be listed on reply card or by way of an 800 number. During the lunch break, sitting at each lurch table of 10 persons of sales, marketing, or telemarketing rep., who acts as a facilitator and sounding board. The reps job, apart from presenting a company face to the group, is to gather reactions to the morning seasons, provide the names of contacts and request each attendee to fill out one-page evaluation. The questionnaire, is the company's vehicle to have the feedback. It asks such relevant questions as each person's reason for attending, his/her upcoming products requirements, and the status of any projects-included installation date, value of total projects, budgeting phase, and the name of decision makers. A preliminary review starts after lunch. Sales and marketing people separates the lead into 3 categories : (1) qualified leads - companies with projects and budget approved and will be implemented less than 1 year. (2) Companies with plans for projects and perhaps a tentative installation schedule. (3)those who has not set plans but who may be seeking information for future requirements. The evaluation travel to headquarter where the manager take immediate actions on those in the top priority category.
* Lists and directories
Business people should develop the prospect lists of their own by referring to such sources as public records, telephone directories, Chamber of Commerce Directories, newspapers, club membership, and professional or trade membership. Secondary sources of information from public libraries can be useful. We also can purchase a number of prospecting directories and lead generating publications.
* Canvassing
Other name for this method is cold canvass call. Using this method we try to generate the new business by calling on totally unfamiliar organizations. This method had been used extensively for a long time. However using this method can waste business people time as many companies have neither a need for the product nor the ability to pay for it. This stresses the importance of qualifying the lead quickly in a cold call so as not to waste our time. Try to ask them the proper questions to classify the leads whether it worth or not to continue.
* Spotters
Some people use spotters, also called bird dogs. These individuals for the fee will provide lead to business people. The business people sometimes pays the fee simply for the name of the lead but more often pays only if the leads ends up buying the products or service. Spotters are usually in position to find out when someone is ready to make purchase decision.
* Telemarketing
Increasingly, firms are relying on telemarketing to perform many functions the sales representative used to perform. Telemarketing is the systematic and continuous program of communicating with customers and prospects via telephone or other person to person electronic media. Telemarketing is not limited to consumer sales, but also for business to business companies. Telemarketing is now used to sell from 25 cents supplies to $ 10 million airlines. In inbound telemarketing, telephones are used to generate and then qualify the leads. Inbound telemarketing involves a telephone number (usually an 800 number) that leads and or customer can call for additional information. This method have some limitations. First, customer may find telephone calls an annoying inconvenience. Unexpected calls may interrupt their meeting or their concentration at work. Therefor the telemarketer need to respect the client's privacy and not to abuse the privilege. The other limitation, the method limit the verbal messages. Hence this method is not proper for the sales people who need to demonstrate the product, the feature and its benefits. Another limitation, attracting and maintaining the customer's interest and attention is harder over the phone. Finally it is much easier for the lead to say no over the phone. Sales people need to be aware of these limitations. The telephone offer some advantages and can enhance productivity. But it does not face to face selling in all situation.
* Prospecting via sales letter
Prospectiing via letter should be integrated into an overall prospecting plan. Like the telephone the letter have some limitations. Once the message is sent, it can not be modified. The sender also has no chance to alter the message on the basis of feedback. Blanket mailings, then, can seem impersonal. The business people must first consider the objective of the letter and the audience. Why would the reader want to undertake the action. Why would the reader not undertake the action.
These questions help us writing the letter.
*Other sources of leads
Many business people find leads through personal observations. For example by reading the trade journal carefully, we can learn the names of the important leaders, and hence the decision maker in the industry. Other source is by reading business publications and the local news papers and just keep open your eyes when you drive through your territory.
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