Chief Marketing Officer Council World Wide reports that U.S. marketers spent only 10.4 percent of their budgets on marketing in 2012. That figure doesn’t just represent marketing campaigns and social media outreach initiatives. It also counts toward client prospecting expenses like data collection, inbound marketing, client entertainment costs and business gifts to name a few.

With shrinking marketing budgets, it’s important to quickly convert potential customers into loyal clients. Come up with a game plan of how to expand upon your existing database to grow your business and land new clients.

Create an Inbound Marketing Campaign

If you want to hook potential clients, inbound marketing generates leads for your business through brand awareness. Launch a blog, release a white paper or create a social media campaign that utilizes specific keywords to attract an audience. Now that you have an engaged audience, you can drive them to a landing page offering a free detailed report in exchange for their emails. Consider including a survey to collect even more information. Inbound marketing can take the guess work out of what your potential clients want and how to warm them up into paying clients.

Upsell Your Leads

Giving potential leads free business tools, research or a consultation can help reel them in to spend money. But you can also think bigger to capture a wider audience that’s vested in your services. Holding a networking event that helps your clients solve a problem is an innovative way to collect more data and close sales. If your company helps small business owners launch social media campaigns, create a free seminar offering classes, keynote speakers and a Q&A session. The event can be held in-person at a conference center, or as an online webinar where members must RSVP in advance.

Such events can tell your company the exact needs of potential clients and how you can help them overcome their frustrations. Once you have an engaged audience, introduce them to your paid services, packages or products. If those leads still need more work to foster a relationship, move their names into a warm leads folder to follow up with at your next event.

Saying Thanks in Style

Leveraging the data you already have to engage potential clients and close leads isn’t enough. You also need to follow up and show your appreciation and gratitude for their time. Consider sending a gift after a significant meeting or during the holidays. Are business gifts or flowers appropriate? Lavish, over-the-top business gifts packaged in giant cellophane-shaped gift baskets aren’t appropriate as they can be seen as a bribe and a cheap attempt to influence decision rather than a sign of good faith. A business gift should simply symbolize your thoughtfulness and eagerness to secure their business and keep in touch. A tasteful flower arrangement or gourmet snack delivery can send a message without overwhelming your leads.

If you enjoyed this article, you may also want to check out these others:

Is There Still Gold in Cold Calling?
The Correct Way To Use LinkedIn To Grow Your Business
Grow Your Business With Email Marketing
How to Keep Your Messages Out of Your Customer’s Spam Box
Why Should You Care About Starting A Blog?
Combining Blogging and Social Media into a Truly Effective Strategy
How To Amp Up Your Visibility With Facebook

This article is published by Will Sherwood | The Sherwood Group |Website Design | Graphic Design | Marketing Communications: The Sherwood Group has over 30 years of experience working with all sorts of companies, small and large. Our clients range from entrepreneurs to Fortune 500 firms, in nearly every business sector, from across the street to around the world (and yes, even Europe, China, and South America). Our goal is to create advertising,  graphic design, website design, and marketing communication that still looks fresh and relevant 10-15 years later. Our mission is to stir your imagination and leave your competition shaken and wondering,  Now what do we do?”  We are located in Myrtle Beach, South Carolina.

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