Times have changed. The reality is that clients and prospects have found new cost-conscious alternatives to address their problems.
So, how can we acquire new business and retain a loyal client base?
The answer – change the way we think. The first step is to work with customers before the RFP drops and identify opportunities that are right for your business. Or, in other words, “Work Left” and “Invest Right”.
Work Left. A thoughtfully executed, person-to-person engagement process can go a long way to develop new business with potential customers. The question is – how do we build a pool of quality prospects? The answer is to shift your thinking to the far left in customer engagement by establishing a direct Client Engagement Process (CEP) that systematically allows you to proactively hunt for new business.
Invest Right. Disqualifying is just as critical to winning business as qualifying. When your organization gathers external Human Intelligence (HUMINT®) on a suspected opportunity, you can obtain the right information to qualify high probability opportunities and disqualify less than promising ones. An Invest Right plan for growing revenue will focus on the right opportunities that are aligned with your organization’s core capabilities and offer a higher probability of winning.
Caveat. Continue to foster dialogue with existing customers with as much focus and attention as with new prospects. We cannot take winning repeat business for granted.