Assuming you’re delivering a great product at a fair price, and assuming you’re making sure your customers get outstanding service, one of the simplest ways to generate more revenue is to land new customers. But you don’t want just any customer. You want the big fish – the ones who generate the best revenue. Here are my top tips for finding those clients, sometimes where you least expect them.
- Look for year-end opportunities. Whether it’s the end of a calendar or a fiscal year, many companies find themselves in the position of scrambling to spend funds so they don’t lose them for the following year. While other companies coast from mid-December to New Year’s, if you hustle and look for those year-end dollars, you’ll be surprised what you can land. Even if you get a trial period agreement, you’re setting yourself up to over deliver and score the longer contract when the short-term funds have been exhausted. Check in with clients who have upcoming fiscal year ends as well, and you’ll often find the same opportunities.
- Leverage tax savings for small businesses. Particularly useful both at the end of the calendar year and around tax time, pitching your product to a client can be even more compelling if you include not just the initial investment cost, but also highlight the potential tax savings that investment can create. So while your product is certainly a good value on its own, a business who purchases it is also reducing – through the expense – their tax liability. It’s just going the extra step to think it through for your clients.
- Video Sales Page. I can’t believe how few companies use this tactic, especially given how cost effective it is. Say you’re making a pitch – could be virtual or in person. You’re moving through a slide show presentation that highlights all the benefits you can provide. If you add a slide with a brief video, customized with your prospect’s name and details that matter to her business, you’re taking your pitch from the abstract to the very concrete – and that’s a good thing! Making a video costs you nothing but a little time, and it’s a personal touch that will separate your company from the crowd.
- Build the vendor well. This tip sounds counterintuitive at first, but it really works. Instead of asking a great client for referrals to other clients, ask for referrals to their vendors. The idea is to work with other suppliers to find efficiencies, share customers, and ultimately deliver better service. You’re broadening your network, while focusing on what matters to your existing clients – great service!
- Throw a party. Take the time to invite your very best clients – along with top new prospects – to a huge celebration. Whether you grill out for a summer bash or pour champagne at the end of the year, putting your happy clients in contact with prospects lets everyone see how much you value your relationships. You’ll bring in new customers, and you’ll be able to thank your existing ones. It’s a win-win.
While generating new business is only part of what we do in a given day or week, it’s important to focus our efforts on those customers who will bring the best returns.