Even loyal customers eventually use other suppliers, so you’ll have to acquire new business in order to maintain the status quo – or to survive a difficult market.
— List the firms that compete with your customers. Each company on that list is a potential new customer.
— Solicit referrals. Offer discounts, freebies, or other incentives to customers who bring you new business.
— Try direct marketing. Direct marketing and mailing lists are a convenient way to identify and obtain lists of accurate, targeted sales leads for your business.
— Seek out symbiotic partnerships. Prospect sharing with similar industries can provide benefits to both parties.
— Look outside your niche. Think creatively about other markets that may want your product or service. Visit trade shows in crossover industries for ideas.