How to Get a Steady Stream of New Clients for Your Company
By: Patrick P. | October 19, 2016
Hiring top performers, knowing how to motivate your teams, and preparing them for leadership are essential in ensuring long-term success in your company. Another element that is just as important is the ability to acquire new clients consistently. If you do not work hard to achieve these vital components, you will not see the growth you need for your organization.
Let us first discuss why it is necessary that we have some background on why it is important to bring in new business consistently. The usual company can lose 10% of its client base annually. What this means is that in a ten-year period, if you do not do anything about it, you will have no clients left and no business to take care of.
Other than that, the staffing industry has a very high turnover, from 35% to 70%. The high level of turnover has a negative effect when it comes to the prospective customer pool. Most of the clients view staffing companies and reps as commodities. This means they are seen as the same with other staffing firms. This is a very challenging landscape for most staffing firms, how to stand out in the crowd.
With these challenges in front of you, what then is the best direction to get new clients? You have to be leaning towards the systemization of the sales process. This becomes more important in staffing when you have to deal with infinitely varied variables, such as human beings.
Understanding the Operational Reality
The first thing to do in the process of getting new clients is understanding their operational reality. Before you are able to present them with whatever you have to offer, you first need to understand what their current state is. This includes your client’s internal recruiting process, the changes they expect to see, how such changes can affect their business, and so on. When you have spent time understanding your client’s operation, you will be ready to determine if they can indeed be a legitimate prospect.
Developing Communication with Clients
The next thing that can be done in this process is building your target lists and developing your strategy on communicating with them. This strategy should cover the volume and schedule component and also the content component.
As for the weight of these strategies, it is arguable that the contents for the outgoing campaigns weigh more than the volume component of the strategy. Consequently, you have to have a critical understanding of the industry of your clients, as well as their competitors and the current trends. In addition to that, your messages ought to be relevant, focused, and of value to the ones receiving them.
How to Get Assignments
Once you have communicated with your potential clients, the next question would be how to make them feel that the first meeting is productive. The usual thing to do would be to focus what the clients want you to tackle first.
What you can actually do is the exact opposite and focus on what the client needs in the next six to twelve months. This is because you can’t immediately grasp a deep understanding of what your client is looking for in your first meeting. That is why you are going to need time. The result is that you get to focus on the mid-term and long-term initiatives and projects.
By allowing yourself time to understand the organization more, the projects, the managers, and their business implications, you will have more chances of being effective in getting assignments. Other than that, do not be afraid of telling your clients if a certain role is not part of what your organization has to offer.
Assess and Make Adjustments
After you are done doing the first three steps of the process, the last step is to measure and make some assessments and make the necessary adjustments as you go along. The metrics part of the measurement is not that difficult.
For example, if your sales team makes 150 to 250 touchpoints per week, conducts 50 to 75 conversations, and 10 to 15 visits, the team will be able to get 1 to 2 accounts every month in a six-month lead time. However, in this part of the process, most companies can do it wrong. Most of the times, companies begin a process but are not disciplined enough to give sufficient time for evaluation.
From the perspective of implementation, it is important that any initiative be given a year before evaluations are made. In addition to that, you have to have patience for your business development to flourish. If your focus is building a pipeline of new business, you ought to be prepared to wait for six to ten months before you see any results.
The process of getting new clients is fairly a straightforward process. What we have discussed above is the simplified ways on how to do it. The process will surely be peppered with many challenges along the way. But don’t fret. Building a consistent engine for new businesses to grow requires that you understand the client’s operational reality, develop a way to communicate with them, have a long-term view when it comes to approaching clients, and make decisions based on numbers and facts as well as make the necessary adjustments along the way. You will also be able to know the areas that need shoring up.
Remember that the use of software tools by your sales team is also important for the success of your company. Utilize staffing software that lets you save time and effort. Such software tools can also simplify daily work and can unify information needed to get new clients. Take advantage of such technologies for your process. It will give you more time to focus on more important things while allowing the simple tasks to be automated. When you take a more systematic approach to your process, it enables your team to work more effectively.
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