Prospecting for new clients requires careful attention to the needs and interests of the large pool of individuals who could become paying customers.
Improve your marketing by narrowing this pool down to one of the following four distinct categories.
Purchasers of Substitute Products
Individuals who purchased a product that satisfies the same needs as your offerings are good candidates for your marketing message. The product purchase doesn’t need to be exactly equivalent, but it must be close enough to what you offer to serve the same purpose. A paint manufacturer, for example, may be able to prospect among buyers of varnishes, stains and other finishes.
Use display advertising, a public relations campaign that highlights the benefits of your products, or search engine marketing for online prospecting. Stress the advantages of your products and how they’re better alternatives to those from another company.
Purchasers in Similar Categories
Customers often buy related items that fall into similar categories. For example, a paint purchaser may also buy home improvement or decoration products.
Market your products and services to anyone who has purchased from or shown an interest in your overall category. Emphasize how your offerings can satisfy potential customers’ interests, needs and requirements.
Purchasers of Equivalent Products
These customers have bought products that are nearly identical to yours. They might include those who bought a brand of paint from a different manufacturer.
Buyers of equivalent products often see little difference between items offered by differing manufacturers. To prospect in this category, emphasize how your product is better, more affordable or more effective than a competing product.
If someone has bought your product or service once, they’re the most likely category to prospect for additional purchases. Establish a customer relationship marketing program to keep in touch with and market to your existing customer base.
Collect email addresses, phone numbers or social media addresses at the point of sale. Communicate regularly but not excessively through these venues. Offer loyalty bonuses for additional purchases or referrals. Up-sell and cross sell more of your products to them.
How can you increase your prospecting efforts to find more customers in these categories?
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