I caught up on the activity in some of my Linkedin groups tonight and one thing seemed to stick out. In most marketing groups there are threads talking about ‘lead generation’ – how to do it, where to go, who to target, what tools to use.
Everyone seems to be looking for leads.
It’s no surprise given the current, seemingly never ending squeeze in the economy. But, in the pursuit of glamourous new customers and clients, I wonder if some of us are taking our eye of the assets we already have?
Supporting not selling
What about the loyalty you’ve built up from customers that already pay for your products and services? What if you looked at new, different or innovative ways to add value to what they do? This isn’t about selling more; it’s about responding to challenges presented and offering support in dealing with them.
I don’t know the academic statistics, but from experience, it takes a lot more effort to find, convince, pitch, win and keep a new client happy than it does to keep an existing one happy.
Protect and defend
But it doesn’t stop us trying. We need the pipeline of new people to talk to, new problems to test our creative mettle on and the diversity of new sectors and applications to tailor solutions for. But we also need to focus more on what we have, what we have worked hard to build up. We need to protect and defend what we have by making it as difficult as possible for a competitor to usurp us.
Maybe therein lies the reason lead generation is so hard, so time and resource heavy and ultimately quite risky – as the companies we’re targeting are already locked into other suppliers.
So, what are you doing to make sure this isn’t going to happen to you?