February 04, 2019
Strategies to Help You Hit $10 Million
Want to drum up new business and break past revenue barriers? Every Monday reach out to one prospect. Just one, just once a week.
“That’s 52 contacts a year,” said Bobby Lehew, who taught a class titled “Five Strategies to Help You Hit $10 Million” on Education Day at the ASI Show in Fort Worth.
In his class, Lehew shared numerous business-building tips and outlined five stages of business growth promotional products distributors should put to work to evolve their business to the next level, including better organization, a stronger support system and perpetual prospecting.
If you’re hungry for leads, map out your network and mine second and even third connections on social media resource LinkedIn, Lehew said, because 84% of B-to-B decision makers start their buying process with a referral.
“It’s imperative you mine your customers like gold because from that customer comes your referral,” said Lehew, the chief content officer at commonsku. “Eighty percent of your future business will come from 20% of existing clients.”
The number one secret to getting that referral? According to Lehew, it’s asking for it at the most critical moment in your business relationship: when you saved your client by fulfilling a last-minute rush order or otherwise provided a little extra TLC.
And, in the digital age when so many sales reps and distributors conduct an increasing amount of business electronically, buck the trend by contacting your clients in person. “Face-to-face is the new delight,” Lehew said. “Visiting with your clients is the new competitive advantage.”
Lehew asked his audience if they knew the top reason a promotional products customer fires their distributor. His answer, which no one got right, was “not enough ideas.”
Lehew added: “You can get too comfortable with your buyers. What do your buyers really want? Personal values.”