PROSPECTING SYSTEMS

Meeting with some colleagues today getting ready for a workshop we are doing, and I mentioned the concept of "Prospecting." One of my friends laughed. She had never heard anyone use that phrase before. But isn't it just totally apt? We are prospecting for gold all the time. We are looking for new customers, new business partners, and the 20% who do decide to join us in our business that will help us take it to the top.

Where are you prospecting for gold? Are you going where the geologists tell you is a vein of gold? Are you panning in a creek full of gold nuggets? Or are you dipping a net into a lake, and wondering why you are getting guppies instead of beautiful yellow stones you can take to the bank?

Gordon Hawkins described his best prospects in the category of his Natural Market: the people with whom he could relate, and with whom he liked to work. He said his market was not any particular occupation, profession, or specific needs group, but once a person mastered awareness of his natural market, he would be more successful. So how do YOU find your natural market? According to Hawkins, try these four steps:

1. List the names of the last 20 people you sold your product to, or brought into your business.

2. Out of those individuals, think to yourself, "What do I like about this person? Do I enjoy being around them?" Now place a check mark next to the names of the people you relate best with.

3. Review the characteristics of the people you like, and think about why these individuals bought from you, or joined you in your business.

4. Place a check mark by the names of the individuals you feel genuinely like you. Wherever you see a double check mark, that is your kind of person.

These people represent your Natural Market. So now take a look at people that might be included in your warm market list who share the characteristics of the people you like and that like you, and if they meet the four basic requirements (see Blog Post 12/20/2009), they should be next on your list to talk to. Next go to the referrals from people you know. Then how about the people you write checks to each month? They should at least be willing to give you a few minutes to hear about your products or business, and if they aren't interested, perhaps you need reconsider those relationships.

Happy Prospecting, and keep panning for GOLD!

Kaaren

Say It With Words

Thank you to my friend Naomi Finkel of Say It With Words, (818) 991-1587, http://www.siww.net/, for her latest newsletter. Since it fit so nicely with some of the things I am addressing, I thought to share it here:

Your Most Cost-Effective Marketing Strategy

A few days ago, a neighbor asked me for the name of a plumber I have been using for years. A week ago, I asked a friend for the name of gardener. Last month, I was the guest speaker at The Oaks at Ojai, a health and fitness spa. During meals and at break times, I asked the guests at the spa how they knew about this place. Six out of ten people said they heard about it from friends or relatives who had been here.

If you provide outstanding service, people will talk about you and refer you to others who will also benefit from the services and/or products you offer. I know... 70% of my business comes from referrals!

So, how do you cultivate a Referral Program as a productive marketing strategy? Here are some tips...

1. Whenever a new person calls or contacts your office, ask how they heard about you. Send a thank you note or an e-mail to the person who made the referral even if the new contact does not become a client.
2. After about a week, call the person who asked you for the referral and ask if they ever followed through. If they did and you have not received an acknowledgement of your referral, find out why. This is called "common courtesy." Tell them in the future if they receive a referral from you, you want to know if your referral called.
3. If the referral becomes a client/customer, then I send an appropriate gift to the person who made the referral. Some companies offer a referral fee. Whatever, make certain you show your appreciation for the new business. This is a wonderful way to build a loyalty program.
4. If it is appropriate, you in turn could make referrals to your clients, vendors, associates and organizations.
5. You may want to promote a referral program. On your website or your promotional materials, describe your referral program and what you offer as a Thank You. I would not give a discount on your services since many of the people who refer to you may not need your services. Do you really think I would appreciate a 25% discount on my next nursery school enrollment for my (adult) kids?
6. A wonderful idea... in your newsletter or on your website, thank the people who have made referrals to your company. We love to see our names in print, especially when it is a positive gesture....

Thank you to Naomi for her great ideas, and for her book, How to Get Big Business Exposure on a Small Business Budget, available at http://www.amazon.com/.