This is a concise summary of the comprehensive white paper we wrote on the subject.
You can download the complete white paper for free at the bottom of this blog.
In the dynamic world of B2B, stagnation is synonymous with decline. For companies looking to grow and become more competitive, it is crucial to constantly attract new customers. Relying on existing customers and word-of-mouth is simply not enough. But how do you tackle this? And why is a focus on new business so important?
Why new business?
1. Greater Growth and Diversification
New customers not only mean extra turnover, but also the opportunity to strengthen your market position and make your business less sensitive to economic fluctuations. By actively generating new business, you can spread your risks and make your business more resilient.
2. Get ahead of Competitors
Proactive acquisition allows you to grow faster than your competitors. By targeting new customers, you not only increase your market share but also prevent competitors from hijacking your potential customers.
3. Innovation and Market Exploration
Exploring new markets and segments gives your company the opportunity to develop innovative products and services. Feedback from new prospects can lead to valuable insights and new business opportunities.
How do you integrate New Business into your Business Strategy?
1. SMART Objectives
Start by setting clear, achievable objectives. SMART objectives (Specific, Measurable, Acceptable, Realistic, Time-bound) give direction and focus to your new business activities. For example, “We want to realise €100,000 extra turnover from new customers within a year.”
2. Detailed Action Plan
Create an action plan with concrete marketing and sales actions, budgets, timelines and responsibilities. Use tools such as Salesfeed to measure the effectiveness of your activities and adjust where necessary.
3. Involve your team
Involve all employees in the new business activities. Training courses, adjusting the reward system and creating a culture where new business is central will help motivate and focus your team.
4. Continuous Evaluation and Adjustment
Monitor and regularly evaluate your results using KPIs such as number of leads, conversion rate and customer satisfaction. Adjust your strategy based on these evaluations to achieve optimal results.
5. Consider Outsourcing
If it is difficult to achieve all the goals internally, outsourcing lead generation may be a solution. Services such as Social Runner can help you continuously approach new prospects and support your sales team.
Successful New Business Tips
- Use Data Collect and analyse data to gain insights into your target audience and their behaviour. Tools like Salesfeed can help with this.
- Clear Value Proposition Develop a strong value proposition that clearly communicates what you can do for your customers.
- Focus on New Business Assign specific employees to new business activities and ensure a good reward structure.
- Training and Development Invest in the training and development of your team to keep their skills and knowledge up-to-date.
- Patience and Perseverance New business takes time and requires perseverance. Don’t give up at the first setbacks and stay focused on your long-term goals.
Conclusion
New business is essential for companies that want to grow and stay competitive in the B2B market. By taking a strategic and proactive approach, companies can not only increase their market share, but also innovate and strengthen their resilience. Want to know more about how to successfully integrate new business into your business?
At TachYons, we believe a continuous focus on new business is crucial for the success and sustainability of any organisation. Contact us today to find out how we can help your business grow.
Download our comprehensive white paper for in-depth insights and practical tips now!
