NEED MORE CUSTOMERS?
New business is vital
Every business needs new customers if it is to survive in the long term. Extra revenue means more investment and increased profits.
Too little payback too often
So it is not surprising that many companies recognise the need for new business and put it at the top of their marketing agenda. Our experience at Impetus across a broad spectrum of companies, however, shows that their customer generation programmes frequently fall short of expectations.
Do you recognise the symptoms?
Many companies make fundamental mistakes in their new business programmes. Their customer generation efforts are often passive, too broad, hesitant or short-term.
• A passive programme relies on marketing to encourage the target audience to make the first move.
• Broad programmes promote an entire product range or describe it in general terms that offer no specific advantage, hoping that someone will find something of interest.
• Hesitant programmes stop and start according to sales levels or cash-flow conditions at the time, or management priorities.
• A short-term programme will falter because it fails to build the relationship with the potential customer needed to secure the first order.
There’s plenty of evidence that marketing programmes which are targeted, sustained, well executed and designed to build relationships are the ones that will succeed in creating a profitable new business pipeline.
New business activity that relies on a one-off hit is seldom successful. Research indicates that a potential customer typically needs between five and seven contacts before coming on board.
A well-managed, active programme opens up dialogues with prospects and increases the chance of them wanting to engage with you. Such a programme might include a combination of techniques, including direct mail, telemarketing and e mail campaigns. The skill is in identifying those that are appropriate for your situation and using them in such a way as to create interest amongst your audience.
And finally, well-planned and skilfully implemented marketing campaigns, run consistently, capture customers at their point of need, whenever that might be. It is also important to evaluate results continually to ensure you get the best return from your investment.
At Impetus, we have delivered significant improvements in new customer generation for our clients because our marketing programmes are targeted, well executed and build relationships.
If you would like to discuss how we can help you build a profitable new business pipeline and improve your new client-win ratio, call us now on 01256 468186 or email us
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