Will Humphries — November 1, 2016 Follow @JustCallMeWillHighly successful companies don’t rest on their laurels. Instead, they constantly look to the future and explore all possible channels for business growth.
When we enter discussions with potential new clients, we discuss the best way to try to generate new business leads for their organisation. And because we have a variety of different services to offer clients, depending upon where they are in their own business cycle, we have an excellent understanding of what works best.
The following are several of the most common strategies you can employ to drive business leads and generate growth.
Reach The Influencers
One of the simplest ways any company can grow is by attracting new business leads. When you attract people that weren’t previously aware of your company or solutions or get prospects that were aware, to stand up and pay attention, revenue growth is powerful.
The trick is to generate leads efficiently by optimising your communication strategies to precisely target the accounts that match your solutions.
For example, we perform this very economically for our clients via our Content Syndication service by utilising your existing content and ensuring delivery of it to the right prospects in your target accounts.
Your ability to generate more business leads is often dependent on better marketing performance. Building detailed buyer personas, outlining your message strategies, and creating content that appeals to buyers are critical to lead generation in marketing.
Enter New Markets
Whether you’ve tapped out existing markets or see ripe potential in a new one, the ability to penetrate new markets is another common business growth strategy.
In some cases, companies expand into new markets by recognising the value existing solutions provide to a different type of buyer. You may also have a new solution that appeals to a new buyer persona.
There are a number of ways to do this, depending upon your budget and full requirements, and this quote from Daon Incorporated gives you a better idea of what is possible:
“When bringing new products to new markets, we partnered with Internal Results to help identify, qualify and deliver engagement with the right people in the right roles across a number of geographic sectors.
We found this to be a productive and efficient application of resources, and their services helped scale and accelerate our approach to these markets.
The benefits included increased probability of new business; increased brand awareness; and better feedback on our proposition from key people and organisations within those new markets.”
Maximise Your Time Investment
It is hard to grow without improving the efficiency and productivity from your time investment.
Your sales team needs to communicate with high-quality leads and do so in a way that consistently lands you appointments – with the right people. Reducing wasted calls or calling on people without accurate data are integral to improving efficiency.
Internal Results updates data on over 500,000 records every month using best-in-class technology. We do so because our partners rely on us to deliver the cleanest and most accurate data for their sales reps to work with.
Sell Value Better
Improving your value articulation within new and existing markets is another significant growth strategy. Salespeople sometimes limit revenue potential by going through routine processes with each buyer.
When you emphasise need discovery and dig more deeply into a buyer’s unique problem, you are better positioned to offer a high-value solution.
As buyers build trust with a provider, you gain opportunities to increase the relationship value with add-on sales or cross-sales as well.
Wrap Up
The primary strategies for business growth centre on generating more business leads by reviving an existing market, going after new buyer markets or making more efficient use of your time.
To dramatically improve results, you could attempt to employ elements of two or even three of these approaches.
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