Business development tricks of the trade:
Have you ever tried disguising new business prospecting as ‘market research’?
Finding new customers to discuss your business products and services with is difficult for many people. Many people have a natural fear of the unknown and ‘cold calling’ strikes a death-knell in many people’s darkest fears.
Let Creative Agency Secrets show you some of the insiders tricks of the trade –
and learn to find an easy way to discuss new business without the fear and pain.
We all need Market Research
Market research is a valid business activity – without it you cannot know what the market and pricing is for your services and products. What few people realise is that many prospective customers are happy to give their advice and opinion to you, free of charge in the name of market research. They are frequently motivated by the hope that if your situations were reversed, you would assist them.
Asking questions about how other people view your products is very easy to do.
Email introduction for market research survey
Imagine this – an email asking for 15 minute meeting to get an opinion about a new service offering.
Dear Rebecca, we’re planning a new email list de-duplicaiton service for launch in the autumn, As a previous customer of XYZ co, we’d value your opinion on the features and pricing of this service.
Could you spare us 15 minutes on a conference call to give us your views?If you have time next week, I’ll send over a short briefing note explaining our plans.
Could you send something like that out? Individually and personally addressed? You could send it using Linked In using their mass-mail feature? Maybe add in a ‘poll’ if you want a voting response (though this is less personal).
Case study – market research for affiliate consulting services
One of our coaching clients has plans for a new environmental consultancy around carbon credits. The two partners in the business have found a service they want to sell and asked our advice about pricing.
We recommended contacting prospective customers and seeking meetings or phone conversations with them to do market research into their appetitie for this service.
Not only does this approach allow a direct conversation with a possible decision-maker; it allows you time to explain exactly what your product/service does and how the customer might benefit. They listen carefully because it’s a ‘market research’ dialogue not a sales pitch.
Our client is a busy lady who works in 2 businesses – building up the new one while running the existing one. We discussed how she prioritise her time. Our conclusion was that if she could specify the 3 questions needing answers from the market research, her business partner could do the calls and visits. In this way she can ‘direct’ the work but spend her time on the other, income-generating business while still progressing developments on the new venture.
See other articles about Pipeline development and Opportunity creation by searching the categories on the right.