How well do you know your prospective client base?
I was talking with a prospective client today; they told me their business had been growing 10-15% year over year, which is good, but they were looking to make a strategic investment to jumpstart growth even further. Their sales numbers are steady, and will keep the doors open, but how do they take it to the next level?
How do you take your business to it’s next big milestone?
It happens all the time. Especially with small business start-ups; companies get stuck at certain check-points. What’s holding them back? Many businesses start to run out of gas for all sorts of reasons: reaching the limit of a great idea, failing to keep pace with competitors, or running out of sales resources. One of the first steps you can take when tackling this problem: take another look at your prospective audience.
So, what happened with this client?
The market this client was after is Professional Services in Atlanta, GA. They had a highly engaged community of prospects that they nurtured through online webinars, round tables, and online events. They were doing a lot of things right and this is where they got the majority of their business. When I asked how many people were in this prospective client base, I was shocked. Only 1,800 people!
I did some research: they were only tackling about 25% of their territory. Imagine what their sales numbers could look like if they took a similar approach, of building a highly engaged community of followers, and expand it to 75% of their territory?
So, we went to work. We expanded their territory significantly and did a deep dive to clearly understand who they were after - and most importantly, which of those prospects were growing. My team spent an afternoon understanding this company’s strengths to craft dozens of stories and case studies that would resonate with this new audience base. Simultaneously, we began to invite these new contacts to their digital events.
What happened? Business opportunities have doubled! Not only are they seeing sales come through from their existing group of followers, but from the new contacts as well. Sometimes all you need is an outside perspective to help take your company to that next big milestone.
The Sales Group helps organizations hire smarter and develop a sales system we call R.A.M.P (Revenue Acquisition Management Process.) We provide our clients across North America with actionable sales data that is proven to help drive revenue. Feel free to reach out to me anytime at Donna.Gliha@salesgroup-global.com
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