How to Expand Your Customer Base in B2B
These days C-level executives are very frustrated with the fact that introductions to new clients are such hard work. In the past, one could rely on sales people to initiate the brunt of the new business development work. Together with marketing departments, product managers were only working on market share calculations and ensuring that new product or new service introductions were being handled on time, to ensure that revenue goals were being met.
Trade shows were perceived as the ultimate tactic to realize these opportunities, and companies made massive investments in booth designs and sending enough warm bodies to these gatherings to scoop all the new clients that all of sudden would show up in the booth.
Well that was then. These days, new potential customers do their own research before they enter into any type of business discussion. Not only does your website have to be mobile friendly, your digital marketing and social media is also being checked out, before you even find out who these new potential customers are. That is of course if you are even aware that you’re being checked and/or considered.
At Interkom, we absolutely love the new reality. It proves that our focus on digital, results-based marketing techniques, combined with good market research, and stellar creative always delivers results. Take, for example, a client who would like to expand their penetration in a market segment that they were making decent inroads in. Our initial research with their current clients had indicated that an evening event from 7-9 pm with actual product demos would be a great interest. Based on a set profile, we put together a list of potential targets within a certain geographic range and started to market the event. The client indicated that 20-30 participants would be considered a success. The event actually drew nearly 100 RSVPs and 78% showed up at this free event! And needless to say, the client (and their supplier which was being featured) had never experienced such participation rate and success.
The bottom line is that one has to adapt. The sooner C-level execs and managers embrace the opportunities that have opened up with the introduction of new ways to conduct business, new wave marketing and sales techniques need to be explored and embraced. The good old days of collecting your new clients at Trade Shows are long gone, but the opportunities to expand your business remain vast, if you allow your marketing partner to provide you with some different thinking when it comes to new business development.