It’s hard to believe we’re wrapping up the last months of 2021, and yet here we are; reflecting on past business practices; those that drove growth and those in need of improvement. While the holidays are often a quieter time in many sectors, they provide the opportune time to re-evaluate and re-strategize. Regardless of where your financials currently stand, we also think it’s safe to assume that bringing in new business is something all C-Suites are already prioritizing for the new year.
When developing a strategy to attract and retain new business, you and your team must decide how you’ll discover and approach these prospects and how your product or service will solve a problem they’re currently facing. Can you offer them a solution to an issue they didn’t even know they had? That demonstrates how valuable your partnership could be, but requires a well-designed strategy to capture new opportunities.
So, where to begin? Here are our top tips for C-Suites looking to foster strong business leads, paving the way for new customers, and increasing profitability in the coming year.
Define Your Customer- Before you begin your search, you need to know who you’re looking for! It sounds obvious, but creating a client profile saves valuable time and resources. Consider the following:
Sorting these questions out in advance makes the ideal partner a more tangible reality. It also helps to get your team on board with the acquisition, leading to greater chances for success.
Utilize Online Resources- The social community is perhaps your greatest asset in acquiring new customers. Here, you’ll find honest reviews on specific brands and sectors. What do consumers want and need? Addressing these issues builds trust and a successful working relationship.
Listen to what people are asking for (or complaining about) in the product market you service, and show how you can deliver that to your potential new client. Here are a few of our favorite online resources:
· LinkedIn- This popular platform remains a great tool for networking, finding new leads, and connecting with industry leaders and experts.
· Google AdWords- Reach potential prospects with target ads to those in your niche.
· Blogs- Blogging allow you to control what information you deliver and when. It also showcases your expertise in the industry, making your company more desirable for new leads.
Create a Competitive Analysis- Research your competition, looking for holes and gaps in their services. We recommend focusing on the top five in your arena. This lets you look at the landscape and support your mission with fact-based evidence. Use this to help convince new prospects how you’ll support and fix what they may be missing.
Seek Out Testimonials- You know the expression, “A referral is the best compliment"? Don’t be afraid to ask for testimonials from longstanding business partners. Word of mouth is a powerful tool, so collect them to use to your advantage. People are usually more than willing to support businesses (and people) they like working with, and you can always offer to reciprocate the favor.
Prospecting new clients can often feel challenging and overwhelming, but with the right resources it doesn’t have to be. Be confident in what you offer, and know that your business can positively impact another. And for more industry news and tips, be sure to check out our monthly blog, full of advice for C-Suite candidates or current employees.
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