How to Get More Business in Today’s Economy without Increasing Your Marketing Budget

In today’s current economy, wouldn’t it be nice to find a way to get more business without spending additional marketing dollars? The good news is that you can…and all the resources are already in your rolodex. The secret? Look at the people who are your advocates and take steps to maximize those relationships.

So who are these mysterious “advocates”? Quite simply, they are your present and past clients, vendors, colleagues, and friendly competitors. And the sooner you connect with these people, the more business you can earn without spending a dime.

Let’s look at each group in detail and specific strategies for each.

• Present and past clients/customers

If someone has already made a purchase with you, why not try to leverage that relationship? According to the US Department of Commerce, only 9 percent of customers leave because of price and 14 percent leave due to dissatisfaction with the product or service. Surprisingly, an amazing 73 percent of customers leave simply because they feel an attitude of indifference from the salesperson/business owner.

Fortunately, your attitude is something you can change. Adopt an attitude of genuine conce
for your customers and clients. Follow up to find out how they like your product or service. And while you’re at it, ask what other needs they have and whether they know anyone who could use your offerings. A little interest in your current customers can yield big rewards.

• Vendors

Who do your vendors know who could use your services? You’d be amazed at how many people and companies your vendors are in contact with on a daily basis…many of whom could use product or services. Therefore, call your vendors and ask, “Who do you know who … (could use my services or products)?” Remember, however, that this has to be reciprocal. So be sure to send clients your vendors’ way too.

• Colleagues

A colleague is anyone in a similar industry who could refer business to you. Indentify who these people are and call them to see how you can help each other through referrals or other ways. Once you get the relationship going, stay in contact with them by meeting them for coffee or lunch, and by sending them articles or other informational pieces you find interesting or helpful for their industry. The more you stay in touch with those who can help you, the more often they’ll think of you and send business your way.
• Friendly competitors

Not all competitors are enemies. Someone may offer the same products or services as you, but cater to a different market. Form an alliance with these companies and agree to refer business to each other. Remember that the “pie” is large enough for everyone to have a hearty slice, so don’t fear your competitors – leverage them.

By taking some time to maximize the relationships in your life, you can gain more business with minimal effort.