Living Entrepreneurship Blog / Babson Entrepreneurs

3 Ways to Improve Your Client Acquisition Strategy

–          Every company acquires clients differently. Find out what works best for you!

Understanding the nuances of the client acquisition process for your business is crucial to success. For about one year my team spread our sales effort throughout multiple industries in order to obtain clients. We even spent one weekend cold calling more than 400 businesses which created a buzz about our service, but few actual sales. However, when our team went to a conference to check in on a client, we found that we were in the perfect place to obtain leads. We left with a fistful of personal business cards from people we had struggled to get in contact with for weeks. Being able to make the first impression in person allowed us to be direct with potential clients and answer their questions on the spot. Since then, we’ve realized that going to these types of events are our bread and butter when it comes to obtaining new leads.

–          Once you find out where your clients are, it will be much easier to make the final sale.

If your method of obtaining clients doesn’t work as well as you want, or is too unstable, try finding a new way to approach them. Knowing what events and functions the point people in your target market attend will enable you to approach potential clients when they are more open to hearing what you have to say. This could range anywhere from a business conference to a Parent Teachers Association meeting, it all depends on who your target audience is.

–          If you’re pursuing big clients, make sure you can handle them.

When your business starts to attract companies with deep pockets it’s important that you have ability to meet their demands. Our clients would pay us 60-90 days after work was completed. With no cash on hand it was more difficult to continue stay afloat and run the day to day operations of the company. Whether it’s cash on hand or inventory, make sure your business has what it takes to satisfy the needs of big clients. If not, you might be better off delaying until you know you can handle the demand, because in the worst case scenario too much business could put you out of one.