Top Ten Questions Small Business Owners Ask
#1 How Do Small Businesses Find New Customers?
This is the biggest question that I get from small business owners. How can I find new customers for my company? The first thing is that you have to always be looking at is your marketing activity. Too many owners get stuck in what I call the “Double Helix Trap”; they only do marketing when they have shrinking sales. When they finally get new business as a result of this marketing, they stop doing it because they are busy servicing customers. Marketing is an all the time thing, not a sometime thing; even during recessionary times. If you don’t do marketing, you will never keep your sales pipeline full no matter what the economy.
Every small business owner needs to remember that people only buy when they are in pain and have the money to solve that pain.
As a result, the first step in marketing is to identify what pain your company solves and who you solve it for. Don’t be afraid to “niche down”; get very specific about the customers that you are targeting. Too many small business owners (especially newer startups) try to target the entire world so they can get any kind of business. This never usually works because if you are targeting everyone, you are going to have a lot of competition and not be able to stand out. Next, think about your business’ story; what is the overall mission of the company? Why should your team get up every morning and come to work? Customers and employees alike want to be part of something bigger than themselves.
The second step is to decide how you will find through marketing, the prospects that have the pain you solve. Remember, we actually can’t sell anything to anyone- we need to be there when people are ready to buy. This is why an “always on” marketing system is critical for every small business. Marketing is all about finding prospects to raise their virtual hand and say “I may be interested in your solution”. Think of marketing as educating, not selling. Consumers no longer want to buy just your product or service; they want to have an experience and an authentic relationship with your company.
To start your marketing outreach, determine what content you will communicate to prospects that show you as an expert that they can rely on when they have the pain your company solves. Next, decide on what channels you are going to use to communicate to these prospects: Print ads, email marketing, social media, search engine marketing, organic search, trade shows, webinars etc. Remember that each channel requires a well thought out plan with a calendar of your action plan. You will not have the resources to do everything. Start small. Begin with a few channels where you think most of the prospects are when they are looking for the type of solutions you provide. See what works and what fails by tracking your efforts. Scale up or down based on these results.
Remember, the best way to find new customers is to build your company’s awareness through a consistent marketing message and prolonged strategy over a sustained period. Many companies spend 10% of their sales on marketing annually (and startups can spend a lot more!) to accomplish this so think of it as an investment!