4 Business Development Steps to Creating Profits From Scratch!
The following strategy you're about to read about, virtually guarantees your success with business growth. As long as you have a good market and implement and adapt the tips as layed out, you'll achieve the breakthroughs you're after with business development.
1 Targetted Database
No business can succeed without a database, as targeted as possible. If a targeted database can be purchased, this is best, but most SME's don't have that luxury. Some excellent database sources that can be targeted even on a minimal level are: white pages on-line, yellow pages on-line, Department of Commerce Business Directory. Your own referrals and contacts should be added to this database. Most business people can readily manage a database of 800-1600, which will take no longer than 30 minutes to 1 hour daily to "farm" correctly.
Obviously, if you don't have a database, or it is a poor database, this strategy can't even get off the ground. What database do you have? What help do you need, if any, to develop it?
2 Plan, Schedule, Track, Analyse and Refine Your Database Communication
If any of these steps are missing, you will certainly fail. It's a downright waste of time if you're not strategising in a disciplined and regular way about how you're going to approach your database of prospects and new business contacts. If you have staff who are supposed to be making calls, but you don't have written evidence, KPI's or analysis of the activity, then you are certainly losing a great deal of money. A lot of businesses (too many) operate around trust only, when telemarketing is in place (of possibly any function!), and we are yet to see that trust justified in even one instance. After the first call, these calls are no longer cold calls. By calling within a 90-day cycle, using appropriate scripting, you ensure that calls remain warm and that they build relationships, not burn them.
How often are you contacting your database? What information are you keeping? What analysis do you do? What ways have you been able to perfect this part of your database management to gain improved results over time?
3 Ensure that What You Offer to Your Database is Actually Relevant to it
Your script should be something the listener actually wants to hear. You don't have a market if you haven't got anything your target market wants to desperately know! A lot of people come unstuck here but would be surprised how easy it is to come up with a great script if they get together with their business friends to construct one.
What script are you using? Did you test it properly and compare it with others, or did you take a guess? Is there a number of alternative ways to approach your clients with fresh and intriguing offers each time you connect?
Tip: If you're not getting an absolute minimum of 1 appointment per 20 calls on the "cold" (first) call, approximately 2 appointments per 20 calls on cycle 2, and at least 10 appointments per 20 calls by cycle 4, then something is very wrong! a networking member of a prominent networking group was able to refine their script to get a 1 in 14 opportunity from cold calling, and 100% hits from their warm referred leads!
4 Have Impactful Marketing Material to Leave with the Client or Potential Client
Use your business friends to critique your marketing material and help develop a simple package which compels people to take action. (Check out our Member Showcase to see Leonie Davis' before and after of her marketing flyer for Imagine.)
What do you actually show potential clients when you visit them? What is the quality of this material compared to the best you've seen? What do you actually leave with clients? How does your marketing material captivate your prospects and clients attention to keep them warm or even hot as a lead who's likely to "act" on your marketing message. Does that material match up to the best you've read?
In what way does your marketing material follow the classic AIDA (Attention, Interest, Desire, Action)?
There's certainly a lot more to successful businesses than this, however these 4 tips are the essential basics you need to build your business. This is a major strategy of highly successful businesses and yet it is almost free. Why would you not use it? (Scared of the phone? Find out an easy, permanent solution!)
About the Author:
Adam Price is an expert business networker, who focusses on challenging business owners to exponentially grow their business fast. Adam is also the co-founder of SynergyBizNet. To learn more visit: http://www.SynergyBizNet.com
Article Source: ArticlesBase.com - 4 Business Development Steps to Creating Profits From Scratch!