Business Development

3 Types of Prospects that Can Grow Your Business


 

Having a full funnel of leads is arguably the most important part of your business. You can have the best product or service in the world, but if you do not have people/businesses to sell it to you’ll run out of business real quick. “But I’m not a salesperson.” “I don’t have time to promote my business.” “I don’t like to pressure people.” These are all of the excuses you are making for not being successful. Your company is dependent on you prospecting for new leads, and setting appointments.

For all those new entrepreneurs out there, prospecting is the search for potential customers or buyers. Your business depends on you finding, calling and setting up appointments to sell and close new prospects. Prospecting is the driving force of your sales team, which fuels every company. There are three main types of prospects: cold, referrals and leads driven by marketing efforts. In my opinion, referrals are the best way to scale your business once you are starting out. According to the HubSpot, referral leads convert 30% better than any lead brought from any marketing channel. Whether you are just starting your business or your business is vastly growing, do not underestimate this powerful sales technique. Most people ask for a referral the wrong way too. Most people ask “Do you know someone?” “Here is my business card…feel free to share it with anyone you know!” Both of these techniques are wrong. You will never receive a lead this way. Take matters into your own hands and grab that lead! It’s as simple as saying, “Who do you know that could benefit from my product/service?” 84% of business to business decision makers start the buying process with a referral.

The second technique your company must be doing is promoting your business on marketing channels. I know what you’re thinking…”my company has no money to spend!” Although you can spend money online to advertise(which I would highly recommend at some point), you don’t have to spend a dollar to obtain leads online. We live in a generation that is blessed with free marketing channels, such as Twitter, Instagram, Facebook, LinkedIn, Pinterest, Google Plus, YouTube, Snapchat, etc. The Pew Research Center reported that 90% of young adults use social media. TNW News also stated how social media is the second-most powerful digital marketing tactic for customer retention purposes, behind email. If you ask me, email is on the decline and social media will soon replace it at the top. Your company cannot rely on 1 post, 1 video, or 1 social media strategy to grow your business. You need to actively be promoting the business online or else you’re not in the game. At Affinity, we have seen huge success promoting our business online and have brought our name out of obscurity in our local market.

Lastly, cold prospects are a great way to scale your business. Cold leads represent the greatest opportunity to separate yourself from your competitors. Why? Because people generally are too scared to call on people they do not know. If your competitors aren’t doing it, then why not take advantage of this fact and dominate your sector? When I say “cold leads” I mean people that you have never met before, and generally represent people who are not currently seeking out your product/service. However, that does not necessarily mean they are not a good fit for your product/service. You can find cold leads in several ways, such as attending trade shows, social media accounts/pages, online directories, or even door-to-door cold calls. Either way, cold prospecting is the number one way to fill your pipeline of leads to sell your product too. You can only ask for so many referrals from clients and only attract so many people through marketing strategies.

Get out of your comfort zone and scale your business today by filling your funnel of prospects!

Connor Duff VP of Sales and Marketing at Affinity

Affinity Marketing and Web Solutions is a cutting-edge tech startup who specializes in website development, graphic design and marketing strategies. We love working with like-minded entrepreneurs who want to make a difference in this world.

Connect with us today!

Leave a Reply

Your email address will not be published. Required fields are marked *