| Businesses close up shop every day. There are a | | | | with the prospects that you couldn't help yourself and |
| dozen reasons that your competition might be closing | | | | also makes you look good to your competition and |
| their doors. Economic changes, bad business | | | | builds a level of respect with them. |
| operations, bad location or just a lack of a marketing | | | | There will still be some that you don't know at all and |
| plan (not you though, right?!) | | | | don't build relationships with. You still want to keep an |
| As hard as it is for these businesses and their owners, | | | | eye on what's going on with them. |
| most of them will still want to make sure that their | | | | If one of these companies does announce that they |
| customers are taken care of after they close their | | | | are closing their doors for whatever reason, you have |
| doors. This makes a great opportunity for you to not | | | | an opportunity to come in and see what you can do to |
| only get a new list of potential clients but make sure | | | | help them out. Remember, your relationships will do |
| that those people are taken care of once the old | | | | more good for everyone involved (including you) than |
| business is long gone. | | | | anything else out there in a situation like this. |
| Most business owners that are liquidating their business | | | | Make contact with the owners as soon as possible. |
| think about getting rid of their equipment and supplies | | | | Ask them to lunch or coffee. Then, you can offer to |
| but they don't ever think about their client list as an | | | | buy their list of clients for them. Tell them that you |
| asset. Anyone that is good at marketing knows that | | | | want to ensure that their clients get the same great |
| your list is your MOST VALUABLE asset in your | | | | service they got before instead of having to go to the |
| business. | | | | trouble of shopping around for a new company. Tell |
| Think about businesses in your industry that either sell | | | | them that you promise to take great care of his/her |
| the same products as you do or also businesses that | | | | clients and you want to help out any way you can. |
| sell products that compliment your product. Make a list | | | | The next step is to see if the owner will be willing to |
| of these companies and see if you can get the | | | | mail a personal letter to all their clients recommending |
| owner's contact information. If they sell a product that | | | | you as their new service provider. You should write |
| is complimentary to yours, it should be pretty easy to | | | | the letter for them in order to make sure it gets done |
| make friends with these owners as you can start | | | | and says everything it needs to say. You also will pay |
| building a relationship for Joint Venture promotions and | | | | for all costs for the mailing like postage, printing of the |
| cross sell products right away. | | | | letter on the old company's letterhead, etc. All the |
| You should already be looking for businesses like this | | | | owner needs to do is approve the letter and give you |
| to work with. If for some reason those businesses run | | | | the list for the mailings. Make it as easy as possible for |
| into trouble and go out of business it will make it easier | | | | the owner. You don't want to put more work on them. |
| for you to approach the owner about buying their list | | | | They already have enough stress as it is in this time. |
| from them. Most likely they haven't even thought of | | | | You should be doing all the work for this. Remember, |
| that and you can get it from them for less than you | | | | don't come in like a vulture with this arrangement either. |
| would if you were to use a list broker to find the exact | | | | Be sincere and considerate of the old business owner. |
| types of clients. | | | | Any time someone closes a business, it's going to be |
| For the companies that are direct competition from | | | | hard for them. Remember, you are here to help out |
| you, you might not have a good of a relationship as | | | | and the business you get from it is a byproduct of the |
| you would with someone that isn't directly competing | | | | situation. |
| with you, but you should try to make the connections | | | | Acquiring new clients from a company going out of |
| anyway. Friendly competition never hurts and keeps all | | | | business is a very cost effective way to grow your |
| businesses in top shape. Building relationships with | | | | prospect list quickly if it is done right. It's a great tool to |
| some of your competition can also help you in the long | | | | add to your marketing mix that will save you a small |
| run. | | | | fortune over trying to find new prospects. These are |
| You might have a job that isn't ideal for your business. | | | | prospects that are already qualified to buy your |
| Maybe a project that is further away than you want | | | | product or service because they have bought similar |
| to go. Maybe a job that's bigger than you want to | | | | products before and now they need a new supplier |
| handle on your own, or the other side of that... A job | | | | for this service. Just remember that you are there to |
| that's smaller than you want to take on. Having a list of | | | | help these prospects out. Keep your ethics in mind |
| your competitors that you could refer to in situations | | | | when you do this and your return on marketing to |
| like that are ideal. This will keep you in good standing | | | | these new prospects will come back to you tenfold. |