In business-to-business marketing, not all prospects are equal. Targeting new business prospects is quite different from going after more established companies within an industry.
The following is an overview of how to successfully target new business leads, such as a small-business startup.
Target the Right New Business Leads
Step one is targeting the right new business prospects. Consider the types of operations that allow you the greatest potential to close a deal relatively efficiently.
Evaluate the startups whose needs most closely align with the compelling benefits of your products and services. New operators don’t have a lot of time and interest initially in meeting with sales reps, so you want to optimize your efforts.
Show Genuine Interest in the Business
Most companies want vendors or business partners that take a genuine interest in their well-being. Startups can’t afford mistakes, so they have a desire to work with providers that are willing to invest in their success and demonstrate long-term loyalty.
Therefore, when targeting new business prospects, focus your message on the desire to establish a relationship. Show that you have researched and understand the critical business issues the startup faces.
Act Like a Problem-Solver
Do a lot of research about a startup before communicating with a company contact. Startups want to hear from marketers that view themselves as problem-solvers rather than peddlers of products.
Take on a consultative role from the onset. If you believe you have solutions that meet the needs of the new company, begin your marketing process with a conversation. Show a willingness to talk first about the interests of the new business leads, and then work your way around to explaining how your solutions fit.
Take a Conservative Approach
The majority of startup companies fail within their first year of operation. Therefore, you need to take a cautious, conservative approach when contacting new business leads. Take the time to pinpoint the small-business profile that best aligns with your company culture and solutions.
The risks are normally higher when targeting new business leads than when marketing to an established company. Consider the long-term vision, strategy, and capabilities of the leadership team. During initial conversations, evaluate the willingness of the operator to listen to advice. That willingness impacts the long-term viability of the business, and its potential to remain a customer for an extended period of time.
Targeting new business prospects requires careful planning and execution. You need a very precise view of the types of startups that fit your company’s offerings. Your role, especially in the early stages, is often that of a strategic partner rather than a traditional vendor. This reality impacts your methods and messages when making first contact with new business leads.
Data Axle Genie offers a dedicated solution for reaching new business leads before your competition. We help you find the right leads, save time and money, and get the results you want. Contact us now to get started!