Cultivating New Business

Cultivating new business plays an important role in any organization. For our company, we seek new business from a variety of sources: existing clients, referrals, the Internet, networking and cold calling. It’s no surprise that cold calls are the most challenging, but a necessary requirement.

Maybe our potential client missed our email. Maybe he was overwhelmed or she didn’t understand our proposition. Whatever the reason, a lot of the time, the person we reached out to never responds. This could mean three things:

  • They may not currently be in need of our services
  • Maybe they’ve never heard of us
  • Maybe they would rather use a different agency

Photo of a hand holding a flower from Flickr's gagstreetWhatever the reason may be, we don’t know it’s a no-go until it’s officially a no-go. We’ve got to make the call.

We do know that sales, by nature, is a numbers game and can be likened to fishing. The more hooks you have in the water, the more likely you will catch a fish. It’s the same when earning new business. The more qualified contacts you make, the more likely you are to gain opportunities.

So what’s the biggest factor in landing a new client? It’s the prospect’s willingness to share their company, brand story, customer journey, what’s working and what’s not. We look at the sales funnel and it tells a story—where the strengths and shortcomings lie, and how we can help. A committed prospect looking to turn its brand inside out creates the right type of client relationship, and one that we ideally would like to grow.

Photo Credit: Flickr’s gagstreet