The Hand Talks

The best new business opportunities could be right there in plain sight

31.01.2023 by The Hand

Sometimes we’re so busy with trying to attract new clients that we overlook the warmest route to new business: through our existing clients.

Building long-term relationships and loyalty amongst your clients is absolutely key. The more you immerse yourself in their sector/industry, understand the challenges they’re facing and the needs you have, the more you can position yourself to help them with solutions.

So, what are some areas to focus on?

1. Listen, listen, listen
The only way you can truly understand your clients is by listening to them. Spend time with them regularly and really get to know and understand the challenges they’re facing. You’ll then be able to spot opportunities and gaps, meaning you can position yourself to support them better. Don’t just wait for them to come to you with briefs; if you spot a great opportunity then go to them with a brief!

2. Lapsed/dormant clients
It’s too easy to just let these slide into the past. Make sure you reach out to them regularly and keep them updated with what you’re doing. Try to find regular ways to reactivate them and help them remember why they enjoyed working with you in the first place.

3. Reviews and referrals
When a project ends, we tend to move on to the next. But how often do you stop to ask clients for reviews and referrals? They’re the key to winning new business but often we feel uncomfortable asking or we forget. A simple question like “do you know anyone else who could benefit from our support?” can unlock some potential new relationships. Make it a regular habit to do this and you’ll probably find clients are really accommodating. For referrals you can even incentivise them with a voucher or similar. Remember, you don’t ask, you don’t get!

As part of your ‘always-on’ approach to new business you need to be looking for new clients all the time. But don’t forget about the opportunities that could be right in front of you – and make them a central part of your new business strategy.