News: May 2012
Build your client base through micro-marketing
Micro-marketing essentially refers to business development through networking. The idea is to identify a target market and then build a list of contacts that you would like to do business with from your chosen market sector.
The next task is to develop a “pitch”. This pitch is a framework outlining what your product or service is, what benefits your clients receive from buying your product or service and any advantages that your product or service has over your competitors. Make sure you write it down, refine it, rehearse it and memorise it. Now you are prepared to go micro-marketing.
Using your list of targets you can now develop opportunities by connecting with them through channels such as LinkedIn and Twitter. Alternatively you can simply phone and invite them out to lunch. Before you meet your target client, make sure to do your research. Visit their website and view their social media profiles in order to gain an understanding of what their product or service requirements might be.
Once you meet the potential client you can chose how best to deliver your prepared pitch. Depending on the situation, it may be best not to “hard sell” the potential client. Instead, make your pitch, don’t push for an answer and then follow up with a call or an email a couple of days after the meeting in order to close the sale.
Your micro marketing activities can be tracked on a simple spreadsheet or, if you have one, your firm’s database or CRM system. You should aim to follow up with your new contact on a regular basis – often the best way to do this is via e-marketing (such as monthly e-newsletters, etc). In order to develop and maintain the relationship with your new client, aim to meet them again on a fairly regular basis – they may even reward you with some referral business.