The world will not beat a path to your door if it is not aware of the expertise that you have and are able to utilise to help solve their pressing problems.
In this fast moving and highly competitive world, you need to do everything you can to ensure that you expertise is both known and noted, for immediate or future reference.
As a business owner, you owe it to your business to learn as much as you can about promoting your expertise, and then take steps to implement this acquired knowledge.
Is generating new business one of your toughest tasks as a business owner
One of the toughest tasks for a SME business owner is generating new business. This may be necessary to either replace lost business, or to grow the business itself on the back of consistently increasing the volume of new business, whilst simultaneously minimising the loss of current business.
Why is generating new business so hard
A common reason why many business owners find the going tough when it comes to new business acquisition, is because they are doing the all of chasing to find the new business, rather than new business seeking them out to provide the products or services required to satisfy their needs.
We all know that the cost of acquiring new business via promotions, advertising, direct selling or indirect sales activity can be quite high. We also know that often the budgets available to SME business owners, are not as extensive as usually required, to fund the costs of acquiring a constant flow of new business from such activities.
Is there an easier way to generate new business
An alternative way of acquiring new business is to get the new business to come to you as a consequence of the recognition of your expertise, and the reputation you have established in providing that expertise, to the market.
Unfortunately, as good as your expertise and reputation may be, unless the wider market that you wish to serve, is made aware of how good your expertise is, and you then continually reinforce this message at every opportunity, you will forever be chasing new business to maintain momentum in your business enterprise.
How to raise market awareness of your expertise
There are many cost effective ways to raise your market’s awareness of your particular expertise in producing something for sale or providing a particular service. The important thing is to develop a specific strategy for increasing your profile in your designated market, and then work this strategy until you see your expertise acknowledged via the avenue of business coming directly to you, without you having to be the hunter all of the time.
Steps you can take to promote your expertise in a cost effective way include:
- Write and publish articles, that demonstrate your expertise, at your own blog site or submit articles to other blogs which cater to your target market
- Write and submit articles relevant to your industry to your local paper, relevant industry publications, regular newsletters that circulate in your business community, and as many relevant online forums that seek such content
- Volunteer to provide some of your expertise to local community groups or major charities
- Volunteer to be a speaker on subjects within your area of expertise at as many local business and local networking groups as you can find
- Register your business and detail the expertise you offer on as many of the free online business registers that will help people find you in your customer/client catchment area
- Get well-structured testimonials that highlight the key elements of your expertise as well as the quality of your products/services and make these as prominent as possible on your website
- Ensure that your e-mail signature block highlights your expertise as well as your contact details, and where possible includes a link to the testimonials on your website
- Where you have a telephone system that has the capability of putting callers on hold, utilise a message on hold system, to ensure they are listening to a message about your expertise whilst they are on hold
The more ways that you can find to promote your expertise in a cost effective way, the more business you will see by way of direct engagement, and the less hunting you will need to do, to ensure that your business consistently generates new customers/clients.
Questions to ponder
- Are you doing as much as you should be doing to promote your expertise?
- What is it currently costing you to acquire a new customer/client?
- How much more profitable would your business be if you could reduce this cost, yet continue to acquire new customers at a satisfactory rate?