A client of mine, who has recently engaged my services, was generating £250,000 last year – but expects perhaps £90,000 this year. So why is that?
Four months ago he had five potential contracts lined up, but today he is only certain to close one.
How many of us can live on a third of last year’s income?
Now listening to his story, two potential problems have revealed themselves:
1. He did not target his clients effectively
2. He did not demonstrate value to the five potential clients he had
In this case, a strong practical proposal is the key to acquiring new clients and building a lasting relationship.
Hence, my client has learned one major lesson – costing him two-thirds of his annual income.
Here are just a few useful points for your business:
1. Target your potential clients/customers more effectively
2. Remember that business in the pipeline is not guaranteed business
3. Use your marketing budget wisely, focus your efforts on closure of the existing leads or enquiries
4. Do not ease up on marketing for new business in the pipeline, even though it may give you some sense of false security
5. Always use an effective and detailed proposal – and a powerful conversion process – to persuade your potential clients
I’ll show you in more detail how to effectively bring better closure to your business in the pipeline shortly.