How to win new business
Any business that struggles to gain new customers isn’t destined for long-term survival. With intense competition between companies, it is perhaps the most important skill any sales-oriented manager can have.
If you’re not attracting customers, there can be multiple reasons for this. Branding mistakes can hold you back, such as believing you’ve created an identity by simply designing a logo. A brand is so much more than this.
You need to develop things like your vision, mission, values and principles. A logo is a visual representation of your brand and should tell the story behind your business. If you’re sending out the wrong messages, it can deter new customers.
Poor communication can also negatively impact your expansion. If you’re worried about the expense of advertising, you may not be getting your message across to enough people. Get excellent value for money from social networks.
Who is your target audience?
Winning new business is largely dependent on whether you’re appealing to the right people. Research your target customer, as taking a random approach is likely to be a waste of time and effort.
Narrow your focus by creating a profile of your ideal customer and devise a strategy to target them with information that is likely to be of particular interest and value.
Have you researched into your competitors?
Do some research online and adopt, adapt and improve your competitors’ strategies if they seem to be working. If you’re struggling, but your nearest competitor is doing something to win customers, it’s well worth taking more notice.
There’s no shame in working out their winning strategy and modifying it for your own benefit, without blatantly ripping off their idea. Anything that can help win new customers, who might otherwise look elsewhere, must be embraced.
What is trending?
Have you looked into what is trending and taken advantage of this as a business? Social platforms are expanding fast for businesses. Social media is far more than just a platform for influencers: it also enables brands to collaborate with consumers and expand their audience just by sharing a post.
Using social media to grow your business enables you to increase leads, improve search engine ranking, drive traffic, keep an eye on the competition, develop customer trust, improve brand recognition and maximise conversions.
The number of UK businesses using social media has grown rapidly since 2013, from 42% to 68%. The accommodation and food services sector is the biggest user of social media advertising, up from 44% in 2013 to 86%. The use of social media in the retail sector has grown from 49% to 73%.
Maintaining a profile on LinkedIn can be an effective way of grabbing the attention of new customers. Draw up a digital marketing strategy to include a business Facebook page and Twitter account to give your digital messages and promotions the chance to reach the widest possible audience.
What are your businesses USPs?
Consider what your business’s unique selling points are: what can you give your customer that a competitor can’t? Make a list of what you sell and all the potential USPs of your brand. These are specific benefits that make your business stand out, compared with the rest in your sector.
Research the competition and compare your most unique angles against your target market’s needs. Compile the data and then think about viable ways to apply it across your business.
Network wherever you can
Opportunities to win new customers are everywhere. Whether it’s at a business breakfast with local companies, at an industry trade show, or a social event; face-to-face networking remains an invaluable strategy for attracting new business.
Research shows that in-person meetings can increase engagement and participation for clients, co-workers and colleagues. When people interact during a meeting, they are more likely to join in the conversation.
Across generations in the workplace, people prefer face-to-face meetings, with around 80% of both Gen X and Millennials saying communicating in person is important to maintain and enhance relationships.
While we continue to live in a digital world, hybrid models are also fulfilling a need. More than 50% of businesses say they use hybrid meetings, as well as face-to-face, as a means of communicating.
Finally, use your own and your team’s personal connections to help win new business. The contacts you have beyond the world of work move in their own professional circles, so word-of-mouth can be a simple means of reaching an extended pool of contacts.
