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Successful businesspeople often say “the first million is the hardest”. We will go one step further and say “the first 100k is the hardest”. This is due to a number of factors;
* Limited capital and marketing collateral
* Small to non-existent networks
* Zero brand awareness
The goal for any salesperson or business is to get to breakeven as quick as possible. If you aren’t paying your way – your days are numbered.
At ResultsPoint we believe in the Meetings / Deal matrix. That is the more new business meetings you have, the more deals you will land. Here is our guide to stacking your calendar full of meetings at speed so you can land deals before chewing into too much capital or risking redundancy.
Step 1: Build Your Funeral List
Write down the names of everyone who you would expect to attend your funeral/wedding. These are the people who care for you and are likely to extend favours like making introductions to key personnel or possibly finding an opportunity for you in their organisation.
Ensure you are already connected on LinkedIn so you can browse their network to make suggestions of key prospects.
Be honest in your reachout for help to get the most support. Here is a sample script
As you probably know a key part of my role is to generate new business for [name of company], it is a highly competitive market and any new lead or sale is vital for our sustainability. Word of mouth and referrals have underpinned our success to both retain and provide new employment opportunities – On this note I was hoping you may know someone in your network who would get benefit from our [product or service] that you would feel comfortable introducing me to.
Our key markets are x,y,z
Of course I would never want to put you in an awkward position so absolutely no pressure if you don’t feel comfortable reaching out to your network on my behalf.
Also if there is ever a need for you to get in touch with one of my contacts feel free to reach out at any stage.
Success Story: This reachout landed me 14 meetings in my first week opening office
Step 2: Fill Your Calendar with Events
Networking events or conferences can be an anxious experience for many with an expectation you must talk to lots of people and hand out tonnes of business cards. Conversely getting stuck with an annoying or clingy person can be frustrating if there is someone in the room you would like to speak to.
The truth is networking events can offer a lot of value if you know what to do.
Hack The Attendee List Together
There are a few ways to get the attendee list.
i: Ask for it – sometimes organisers will share the attendee list to help sell tickets
ii: Search #Hashtag – most events have a Twitter hashtag you can build list from
iii: Snap the name tags – I will get to the event early and snap a photo of the name tags or inconspicuously video them (if under surveillance) whilst I am looking for my own
After the event add attendees to LinkedIn mentioning you were there and would like to catch up as time didn’t permit this time around.
Our clients have had the greatest conversion rates of booking meetings by connecting with attendees post event either through LinkedIn or email.
Success Story: Connected with the CMO of McDonald’s through this strategy
Reach Out to Keynote Speakers or Panelists
Often your key prospects are keynoting at the event and although they will be notoriously difficult to meet due to time constraints and demand, if you take careful notes there is always the opportunity to reach out post event with an intelligent angle. This is the strategy I have found works best as you will find keynoter gives insights and subtle clues into problems they are facing. Problems you can solve!
I had the pleasure of attending [Event] on Wednesday and enjoyed your panel discussion, particularly on new technologies & collaboration.
Touching base as [company] are probably the most disruptive video content agency globally right now. We have developed the world’s leading cloud video production technology that lets agencies, clients and teams collaborate to produce amazing content with a significantly reduced cost as our platform does the heavy lifting.
Some of our clients include, [ANZ], [Seek], [Uber] and [McDonalds].
Given your interest in this area, love to catch up for a quick coffee.
Success Story: Panelist responded by introducing me into their digital team resulting in a $40k project. Cost of ticket = $500
Step 3: Implement a Social Selling Strategy
Social selling is essentially an inbound sales & marketing strategy which is great because the leads come to you without the need to cold call.
According to LinkedIn effective social sellers “create 45% more opportunities and are 51% more likely to hit quota”. Furthermore, Microsoft’s Enterprise Marketing Lead, Stuart White, revealed at LinkedIn’s Social Sales Summit (Sydney, 2015) that “top social sellers within Microsoft’s enterprise sales team average 1.7x in deal size”.
Becoming a superstar social seller requires some preparation and discipline. To find out how to overhaul your personal brand download our free guide.
Success Story: Landed over $100k in new business deals within 6 months of implementing a social selling strategy resulting in recurring revenue.