When building a business prospecting is an essential part of the game. It is especially important when marketing a newly launched product. It is one of those must do in fintech sales.
While it’s true that networking, referrals, and other relationship-oriented marketing strategies are superior ways to build a professional services business in the long run, the problem can lie in that word “long.” It takes time to build a network and generate referrals. If you’re new in business or your pipeline has dried up, you may not feel as if you can wait for those budding relationships to mature.
The dictionary defines the verb prospect as “to search or explore (a region), as for gold.” When you prospect for clients, you explore your region—your town or your market niche—to locate the gold that may be buried right under your nose. It’s a good bet that there are prospective clients all around you. You just need to identify them and get in touch with them.
Launching a prospecting campaign can produce several useful results beyond the obvious one generating new clients. Prospecting will get you into action immediately. If you’re writing letters and making calls, you will feel proactive and productive instead of disheartened and stuck. The information you discover and contacts you make will suggest many new possibilities for marketing your products and services. And you’ll gain valuable experience in what works and what doesn’t when pitching your business.
How can you get started building your prospect list and jump-start your marketing? Here are 10 ideas, I really like.
1. Create an automatic email marketing campaign using your personal list of contacts. Hubspot offers a brilliant guide how to do it.
2. Launch a survey. Create a survey for your target market and offer to share the results with everyone who completes and returns it with their contact information. Surveymonkey is both brilliant and free.
3. Write a white paper. Researching a white paper on best practices in your field will give you an excuse to seek out prospects, talk to them, reinforce your credibility and eventually long term get you some referals.
4. Explore online directories. There are many of these that are specific for each and every country that you intend to target. Local search engines and google are great place to start.
5. Offer a bonus. To entice people who visit your site to subscribe or register, offer a complimentary e-book, audio recording, video, e-course, or other exclusive content in return for their name and email.
6. Publish articles online. Submit your articles to websites or media outlets your prospects read. Your bio can offer readers a gift if they visit your site.
7. Post to blogs and message boards. Answer questions posted on sites aimed at your market niche. Include in your signature a mention of your twitter, blog, linkedin or instagram.
8. Offer rewards for referrals. Affiliate programs, referral fees, and discounts on future services can all be incentives for people to pass along leads.
9. Read the press efficiently using one of those apps and watch out social media posts. Make note of who is being quoted as an authority in your community or market niche. Compliment them on their ideas when you make contact. Ask them to spread the word of your product or service.
10. Sponsor a contest or simply an educational event that will create demand for your product. Ask people to enter a drawing for some valuable prizes or a competition where you will acknowledge the winners and publicize the results.
These are 10 simple steps that you can follow while creating a brand new prospecting list or when you need to create more business to hit a specific milestone you have set for yourself. Will be to have a discussion about your techniques of generating new business. Like. Share. Comment.
Boris Grozev is a seasoned fintech executive. Entrepreneur by heart Boris has helped number of businesses to create and implement business development and product strategies. His advisory work in Emerging and Frontier markets has promoted culture and technology change, fostered innovation and lead to tangible results. He invests in variety of asset classes. Boris is a fast learner, whose leadership abilities, ambition, stamina, passion to succeed and attitude naturally spread to others helping to achieve common goals.