6 Ways to Win New Accounts
Is there a magic formula to win more accounts? We wish.
Even though you can’t take a magic potion and instantly become an account-winning machine, there are a few best practices you can follow to greatly increase your chances of becoming just that.
Here are six ways to win new accounts.
1. Find and fill the gaps.
Before you can win new accounts, you have to know your market inside and out. Conduct market research to find out who your customer is, what your competition is offering, and where there are gaps.
Take note of services others aren’t offering and see if you can be the one to fill that need. The more you differentiate yourself and your value proposition, the more accounts you’ll win.
2. Know your market.
By doing your market research, you’ll also get to know more about your market. While you should have a group of core customers you are trying to reach, you should also pay attention to the gatekeepers and influencers within your market. Keep in mind that you’ll need to sell to these individuals differently than you would to an end user.
3. Build an email list.
Start collecting email addresses so that you can start building relationships with and nurturing prospects. If you have a brick-and-mortar store, have an email sign-up sheet at the register with an incentive for the customer to give you their email address. Online, make sure you have a clear call-to-action asking visitors to sign up for your email list or newsletter.
4. Segment your target audience.
Just like you segment your email list before sending out an email, it’s important to segment your target audience. Understand which features, benefits, and key messaging resonates with each potential buyer. Keeping this in mind, speak to each type separately and directly, underlying how your product or service can help that specific prospect solve his or her problem.
5. Set up an affiliate program.
Set up an affiliate program to encourage your existing customers to refer your business to their contacts. This type of program will continue to connect you with your existing customers, open new lines of communication between the two of you, and will also make referrals easier for customers to make and for you to keep track of.
6. Network both online and off.
Networking is easier now than ever. Use social media sites to establish yourself as a source of useful information and to foster new relationships with prospects. When it comes to offline networking, attend local business events, industry trade shows, and conferences to network in-person with like-minded professionals.
By knowing your market, finding and filling service gaps, using your current business connections, and networking, you’ll have a multitude of opportunities to win new accounts. By being innovative and persistent, you’ll find that sales opportunities are everywhere—you just have to be willing to find and act on them.