Build Your Business - Build Your Database

Become the expert in your industry, a valuable resource for your prospects. People are social beings and like to buy from people they know, like and trust. They also will buy when they are ready to buy, not when a salesman is ready to sell. For this reason, building a database for ongoing communication and relationship building can be the best way to grow your business. It keeps you in front of your prospects, building the relationship until they are ready to buy.

Even if you are approaching someone who has bought from you in the past and you have a great relationship, they may not be ready to buy from you again. Perhaps their budget is restricted or they don’t have the need for your product or service just yet. As we all know, seasons change and people change.

You must understand what your prospect needs before you try selling them anything. Getting ahead of yourself in your prospecting means you will lose hundreds of potential sales. Many businesses apply too much pressure in their marketing, thereby destroying the relationship they need in order to succeed. Most advertising offers the one option of response - “Call Now!”
A smart business person gives a better option. ‘Order Free Information to find out how you can…’

Today’s buyers often like to do a lot of research, thinking and contemplating before making a final decision that involves spending what they consider to be a large amount of money. This can cause frustration for many businesses because it’s getting harder to get quick decisions from prospects. Much of the research is done on the Internet making it a great place to present your information.

A savvy business person is prepared to help people with the information they need in a non-sales like manner. This approach is designed to capture prospects’ details so they can be converted into sales at a later stage. With the Internet, we are living in the information age where people have access to all kinds of information with a few clicks. If you can become the expert and contribute valuable information to people prepared to give their contact details, you can rapidly grow your database.

Position yourself as an expert in your field in such a way that enables your prospects to obtain the specific information they need to help them research your products or services before they come in contact with you or your salespeople. This demonstrates respect for your prospects’ desire for more information.

No matter what your business is, you are not the only one trying to sell to your target market. If you differentiate your business by being the expert they know, like and trust, you will not compete on price alone. When you understand the value of your database which is often an untapped gold mine, you will treat every prospect with the respect they deserve.

There are a variety of ways to provide valuable ,free information to your prospects such as information packs, booklets, ebooks or members only resources on your website.

There are many reasons why you should offer free information in your promotions. By offering free information, you can set up a system so that prospects will only receive the information if they supply their contact details. You will then have firm leads you can follow up and sell your products or services to. People will often want to research products or service ahead of time, before they can afford or need it. Providing information sets you up as the best point of contact when they are ready to buy. Using the details you have captured, you can build your own targeted database. You may choose a few different information resource strategies in order to build your database in various niche markets.

Providing information about your products or services before meeting prospects increases the chances of making the sale. This is because your information can be used to educate, build trust and create buyers’ interest by revealing the potential benefits your product could provide. You may educate them regarding solutions better suited to their needs than what they originally were looking for. Setting up a system online can generate a significant number of leads of people who want to buy from you.

Decide which information you are prepared to give away that would be valuable to potential buyers. If you already have information based material, use it. It’s often a good idea to send the material with a covering letter explaining the benefits they have received and a contact number if they would like more information. The more valuable the content, the better the response. Make it an ‘Information Pack,’ which adds more value than a simple sales brochure.

Use your database so that you can follow them up after your prospects have received the Information Pack. Use this database to distribute other information or promotional material. Every contact made increases the probability prospects will remember you when they need your product or service.

Make it easy for prospects to get your Information Pack. Often the best way is to build an online form that automatically updates the database. If your target market is not likely to be on the Internet, you could set up a message bank so prospects can call and leave their contact details on the message bank. People are often more comfortable leaving a message than speaking with someone directly at this point of the sales process. Most people ordering the Information Pack may be trying to avoid talking to a salesperson because they are merely considering your product or service.

People avoid providing their details unless there is a good reason to do it. People have two common objections that will stop them from giving their details. They might fear being harassed by a sales person or fear their details will be sold for other marketing purposes. Overcoming objections means you will receive more requests for your information pack. Reassure your prospects by stating on your material that you will keep their information private and confidential.

When you have set up a system to capture prospects’ details, created a database and you have Information Packs ready to go, you are ready to promote your free offer. Simply add the offer to any existing marketing material.

Your database is also commonly referred to as your sales funnel. It is a numbers game, the more you fill your funnel the more sales you will make. Your prospects need to be worked through the process from being a suspect to a lead to an opportunity to a sale. Without a database you will try to shortcut the process and when you get a ‘No’, you will no longer build that relationship with your prospect. Today’s prospects are tomorrow’s buyers. Over time you will be able to analysis your various graphic and web design material and see how successful each campaign has been in generating sales.

You will forget prospects if they are not entered into a database. We are all guilty of this at some stage. What about the business person who handed you their business card expressing an interest in your product or service but you forgot to follow them up? What about that lead who said they would be in a better position to buy in 3 months time? Consider the cost of not following up prospects. Not only do you not win their business but you need to go out and prospect for more business, starting from scratch and spending more time and money. It can be a vicious cycle when you always chase the quick sale, discarding the rest. Relationship based businesses are built for long term success.

Whether your prospects buy today or go into your database for future campaigns, the value of each relationship can be instrumental in growing your business. Maybe they never buy from you but you have been in front of them for so long now they refer other people to you who are ready to buy.

Once you have a growing database of prospects it is time to provide more value to them.

This is an extract for the ebook 'BUILD YOUR BUSINESS' To download your copy REGISTER ONLINE today!

 

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