Searching for New Prospects – 4 Handy Tips

Every entrepreneur must have heard the principle “The customer is king” hundreds of times. But this saying means nothing if you’re struggling to acquire customers at the beginning of your small business tenure. In order to make it work for your business, it’s essential to first generate prospects and convert them into customers. The definition offered by Business Dictionary explains:

Prospect is a potential customer or client qualified on the basis of his or her buying authority, financial capacity, and willingness to buy

Although gaining new customers might seem a piece of cake for business ventures that provide top-notch products, it’s not always the case. Because of that, we’ve prepared a concise but informative guide that will help you search new prospects for your business.

Prospecting via social media

If you’re still at the beginning of your business puzzle, make sure to first use the pieces you’re familiar with. This is why social networks are a great option for prospect generation for business beginners.

The end goal of every prospect-generating move you make on those networks should be leaving a positive impression on various social media users, so as to inspire them to share their contact details with you.

The first step along that road is to offer some unique value.

For instance, you can place a link to a webinar/tutorial on your business page that leads to a special landing page. Here you can ask the interested users to leave their email address prior to watching the video.

What might be the issue here is the level of business relevance you will (not) possess as a rookie entrepreneur. This is where a practical video made originally by you could save the day. For example, if you run an e-store that sells tools for home improvement, post a video in which you or a person you hire craftily uses those tools in practice.

By showing a high level of professional authenticity, you’ll convince your audience to trust your brand and leave their email address.

The introduction of referral marketing

As your business is still growing, every form of marketing can come in handy to improve its visibility. One of the most practical tools for an aspiring new business is referral marketing.

In a nutshell, you offer every new prospect that becomes your client a freebie or a coupon for every new customer that they refer to your business. By doing so, you’ll retain your customer and strengthen the relationship you already have with that party, as well as acquire new prospects via that connection.

Additionally, you should treat your loyal customers with some special discounts in high shopping seasons, such as the pre-Christmas period. Such a friendly approach will inspire those customers to spread the word about your business and bring new prospects to your business.

Moreover, this option is perfect for business owners that rely on tangible products or services. For instance, a small business that manufactures and sells shoes or a venture that provides cloud storage space can use this shape of marketing in an effective way. As opposed to that, a freelance translator who works alone might not find it too beneficial.

The potential of offline prospects

Although the online business market is a more vivid playground for the present-day entrepreneur, you should never underestimate the potential of offline prospects.

You can utilize various offline occasions to present and promote your business, with the end goal to find new prospects for future collaborations.

For instance, you could attend various business events and trade shows. In every niche, you have associations of professionals that organize annual quarterly conferences. These events are a great opportunity to get in touch with various prospects that may later become your clients or business partners.

Apart from visitors of such events, you can also establish connections with some renowned influencers in your field. It’s interesting that electronic and IT-companies attend the annual tradeshow in Las Vegas – the CES show. If the businesses that mostly perform their work in virtual space still need reality to share their experiences, every entrepreneur should follow suit in their niche.

So, consider registering for several business events per year and prepare yourself for a great presentation of your business results. Your presence at such events will give you an additional boost in the quest for new prospects.

Cold emailing – hot stuff for new prospects

Smooth communication is extremely important for retaining prospects. However, it’s vital to first generate them in order to get a chance to keep them by your side. This is where cold emailing comes on stage.

In a nutshell, this form of communication includes a message sender and a message receiver who have never before communicated with each other. This is why cold emailing requires some special skills.

First of all, you should never mislead the recipient of such an email. From the subject line to the closing lines, you need to be honest and sincere throughout the email. Only such an approach could raise interest in your e-letter and generate new prospects for your business.

Apart from that, cold emails demand a thorough analysis of potential prospects and clients. In line with that, explore the greatest professional achievements of the party in question, as well as their weak spots. Getting to know them will tell you how your business could help that target audience improve their business. All these elements should be included in the email you send them.

Finally, if you have any mutual business or private acquaintance that could serve as a bond, don’t hesitate to mention them in your email. What’s more, make sure you do that in the first part of your email, so that you grasp the reader’s attention.

Conclusion

The process of generating prospects requires a multi-lane approach from a new business owner. Luckily, today you can rely on a wide range of software and communication tools to get to customers. However, don’t forget to add some old-school tactics, such as attending trade shows and conferences. All the features presented in this text will advance your search of new prospects and improve your business.

Mark Thomasson
Mark is a biz-dev hero at Invoicebus - a simple invoicing service that gets your invoices paid faster. He passionately blogs on topics that help small biz owners succeed in their business. He is also a lifelong learner who practices mindfulness and enjoys long walks in nature more than anything else.
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