Prospecting For Sales

Numerous uncontrollable factors can contribute to a loss of customers, resulting in a decline of sales for a company. Therefore, it is essential for your company to continuously search for a new customer base to maintain high sales records.

Following are a few tips on how to maintain high sales despite customer loss:

1. Advertising
2. Networking
3. Analyzing Competition
4. Obtaining Referrals

Advertising

Advertising is the most effective way to reach beyond your current customer base and attract new customers. Advertisements might be the only image customers have of your company, so spending time and money on creating a positive image is essential. Remember to target new and expanding markets, while also continuing to evaluate weaker markets for potential sales opportunities. Quality advertisements will give potential customers the confidence they need to do business with your company.

Networking

In searching for new sales opportunities, networking can be highly profitable. In sales, information is power, and networking builds channels of information. If your company maintains positive communication with companies and customers over the years, more opportunities will exist when prospecting for new customers. Networking can give you vital information on your competition, market developments, and new customer trends.

Analyzing Competition

Your competition can be a powerful resource when prospecting for new sales opportunities. When analyzing your competition and shared customer base, think about these questions:

• Where is your competition strongest? Why? How do you compare?
• Where is your competition weakest? Why? How do you compare?
• Where and how is your competition advertising? Is it effective in generating new customer sales?
• Are there any markets or customers that are not being targeted by your competition?

With this process, you can learn from and expand on your competition’s strengths, avoid or capitalize on their weaknesses, and develop more effective marketing strategies.

Obtaining Referrals

Incentives for Satisfied Customers:

Individual referrals can be very effective in maintaining high sales. If a company provides the customers with quality service, the customers will not only continue doing business there, but will also tell other people about their positive sales experiences. This free form of advertising is very effective in generating new customers. Your company can improve its chances of obtaining referrals if you offer incentives to people who bring in new customers.

Testimonial Letters:

Another form of referral that can attract new customers is customer testimonial letters. If a well-known company or high-powered executive writes a customer testimonial letter, your customers will believe that you provide excellent sales experiences and see that you deliver results. As a marketing scheme, customer testimonial letters can be carried into sales calls, posted on websites, added to print advertisements, and left as customer pamphlets.

In order to generate new customer business and increase your sales records, advertise, network, analyze the competition, and obtain customer referrals. These guidelines will help maintain the quality of your company and sales practices.

Author: James A. (Jim) Baker
James A. Baker is the Chairman and Founder of Baker Communications. Baker is a sales training and development company specializing in helping client companies increase their sales and profits. He can be reached at 713-627-7700 or jim.baker@bakercommunications.com.