Five Tactics for Winning New Business in Promo
In our previous post we discussed different ways to accelerate sales with your current customers. And while cultivating relationships should still be a priority, finding new clients is also an important path to growth. In this post we’re going beyond your CRM to explore different tactics to win new business.
Use social proof to win new business.
If you just hit it out of the ballpark with an exciting project, ask your customer to post a review on your social channels or Google. Or ask them for a testimonial. An increasing number of people are hitting the review boards before making a decision on a vendor. Social proof of your superior promotional prowess is powerful. Don’t forget to circle back to that person and thank them online to help increase engagement.
Ask for referrals.
Now more than ever, people want to do business with companies they can trust. Your current customers are a huge asset to your business. Don’t let the time and resources you’ve spent cultivating relationships go to waste – ask for referrals. Who do your customers know? If you have a great idea for a company that you know your client has connections to, ask who you should talk to. Do you have a reward program for referrals to incentivize passing your contact information on? This is a great way to make your current customers feel valued while easily helping you expand your reach!
Create strategic partnerships.
As a promotional products distributor, strategic partnerships may include local printers or digital marketing companies. Work together to approach companies with solutions for multiple needs, and lean on your strategic partners for referrals. You can also partner with organizations that do good – those that give back to the community (e.g., SPCA or Feeding America). These types of partnerships allow you and your employees to also give back and showcase your commitment to your community.
Position yourself as an expert in a niche market.
If you’ve already spent time working within a niche market, use your experience to your advantage to find new clients within your vertical. Differentiate yourself from the competition by showing that you understand a prospect’s industry, employees, end customers and annual schedule. Niche markets like cyber security, manufacturing and even craft breweries all have unique needs when it comes to their employees and customers. Exhibiting a deep understanding of a prospect’s market adds tremendous value to you as a vendor.
Look to adjacent markets.
If you’re doing a lot of business in a particular vertical, chances are you can transfer that success to a similar market. For example, if you’re an expert in promotional products for banks, it’s an easy transition into mortgage companies and even insurance. Or if car dealerships are your niche, take a look at the automotive repair market. This prospecting tactic involves concentrating on the markets that are doing well right now (e.g., mortgage companies, warehouses, freight, home improvement, technology, supermarkets, cleaning companies, pharmaceuticals, outdoor recreation, etc.) and transferring your skills and knowledge to that market.
The path to growing your business may take several different routes and gaining new customers will always be one of them. These five tactics outline the importance of thoughtfully planning your approach and identifying the paths of least resistance when hunting down new opportunities. Diversification of your client base is key to growth and AIA’s Success Management Team is there to help you every step of the way!