Do You Need More Business Now?Most companies need more business, but some really are in a desperate way. If you need more work, then talking to a business development company is possibly a wise idea.
Business development companies are equipped to be able to stand back from the companies problems, to bring a ‘fresh eyes’ approach to your needs and objectives whilst having industry experience and skills to be able to build and develop the sales pipeline.
Building a sales funnel is essential if you are looking for new business.
Think of a sales funnel as a customer’s journey. When they enter your business or visit your website, they’re at the top of the funnel.
When they buy something or sign up for a service, they’ve successfully gone through the funnel. You should try to come up with ways to move people through the funnel to make a sale. This can include offering a discount or getting their contact information and sending them updates on your business.
If you need more clients, going onto the internet and going with the first agency is not a wise more. Just because they are at the top of the internet search does not make them the best.
When considering experts, it is very wise to select one that understands your industry. If you are involved in construction, engineering, IT, medical or retail, there are business development agencies that have experience in helping companies in your sector.
Finding the right agency is important. This is why we always encourage companies to use an agency that knows your industry.
For example; if you are an engineering company, why not use a business development company that works in engineering. If they know about marketing for engineering companies, they will be in a stronger position to help you.
There should be no learning curve and they will know how to communicate to your customers.
Considering it costs five-times as much to get a new customer than it does to keep a current one, focusing on retaining customers means your business won’t spend money on something that isn’t a guaranteed investment.
Looking after your current customers is the first way to get you new business. Can you upsell them or develop a new product/service to existing customers?
What do your customers need, can you provide it for them?
A customer relations management system or CRM systems help your business manage relationships with existing and potential customers. They help you maintain customer information and identify sales opportunities.
One of the biggest benefits is that the data gets stored in one place, so you and other employees who need it can access it.
Business development companies do not do the nitty gritty of getting the results required, they are the ones that put the marketing and business strategy in place.
Once the plan is set up, then the real work can be done and the telemarketing, web marketing or advertising can be started in order to get results.
Sometimes being involved in a task (or problem) can lead to a blinkered view on things.
Sometimes having a independent industry expert look at the company objectives (with the benefit of the industry experience) is wise.
Being able to apply the goals with the companies strengths to the market so as to achieve the best results. Scratching where the itch is so to speak.
If possible, as a couple of suitable agencies for their feedback before signing up with them. All agencies should be able to give you some sort of analysis before you part with any money. This way you can get a feel for their ability to be effective?
Not all agencies will be able to help you. Some do not have the experience, some do not understand your product as they should, some are too expensive, some are not genuine.
All charge differently. There is no standard pricing or criteria to how agencies charge for their services. It is a case of comparing quotes in order do see who feels most comfortable and who seems best suited.
We do advise (where possible) to visit the agency. Getting to meet the staff, see their offices should give you a feel for them as an agency. They may be able to ‘talk the talk’ but can they ‘walk the walk’?
For this reason, it is wise to shop around, compare business development companies and ask for referrals. Talk to some of their customers and ask them how they have found their advice. What are like at producing results, do they have a good track record?
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