Seeking new clients in a recession

I have written about companies needing to be agile. I have commented on the importance of providing a quality service. But how do you actually go out and win new clients, especially when the economy is not buzzing in your sector?

Well here are 3 very concrete tips.

First up is a strategy that I have suggested to people in my circle. All of us have a list of good customers of old, whom we no longer service. Take your five major former clients, call up the contact and invite them out for coffee. No obligations.

The aim? Obviously, you want to keep in with them. But they will also tell you why they are not working with you anymore. That is your key to improving what you are offering. And it is your opportunity to correct possible false impressions.

In turn, you can offer some help, advice or something more substantive. That is what quality networking is all about. And that is what eventually leads to sales .

Next, consider the well-tried “entry level pricing” tactic. How does this operate? Offer an unbeatable price just to get a foot in the door – no, not a freeby, because you need to make ensure that they recognise that your service has a price. Assuming that you will prove you have a value-for-money offering, they will repeat the order, accepting a more realistic costing policy.

Finally, look at your sector and analyse which areas have been left alone by the big players. There are always pickings to be had, often very large ones. For example, in the UK realised that they could undercut others using internet sales. Ironically, 2009 turned out to be a boom year for them.

Bottom line: A downturn is a time to look for new opportunities and methods, a willingness to accet change.

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One Comment on “Seeking new clients in a recession”

  1. […] Economist” and “The Harvard Business Review” which called on CEOs to invest in marketing and growth […]

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