A practical guide to unlocking your big data to achieve growth.
If you are recording data on who your client’s are, what they buy and when, you hold the key to unlock a huge amount of new work for your business. Here’s how:
1. CREATE A BUYER PERSONA
Pull a basic overview report of your most profitable clients and include details of:
- what they have bought from you
- how frequently they buy
- when they buy
- how they buy
- how much they pay
Add to this details about your relationship:
- how often you have contact with them (whether that be meetings, phone calls, emails, reports etc.)
- how often they pick up the phone to you
- how quickly do you respond to their emails / messages
- do you do anything throughout the year to make them feel special (cards, invitations to events etc)
Add to this facts about about them:
- what sector are they in
- what size is their business
- where are they based
- what job title does the senior decision maker have
- what is their turnover
- how many employees do they have
Add to this what you think you know about them:
- what are their main business issues
- which issues does buying your product / service resolve for them
- are there any key drivers that make them buy your product / service
- is there a particular time of year they buy your product / service
Once you have this information you can actually strip out your specific client names and analyse the data to come up with a few specific buyer personas that include an average of the information you have pulled.
Keep it simple and format it in whichever way works for you. For example Buyer Persona A may be:
Buyer Personal A are in the legal sector with a turnover of £1m and headquarters in London. The Managing Partner makes the buying decisions and they have 250 staff.
They buy social media services and content creation six times a year on a contract basis that is agreed at the start of the year and on average they pay £5,400pa.
We meet them 4 times a year, have a phone chat once a month and submit a monthly report. We return their calls within 2 hours, send them birthday and seasons greetings cards and invite them to 1 lunch per year.
They recognise the value of social media but don’t have the time, resource or skills to use it to maximum effect. Using our service frees up their time to focus on their work and feeds their sales pipeline with valuable leads. They request additional services in May and September.
It is often a good idea to give this ‘ideal client’ a name, for example Sue MP.
Well, here’s the good bit.
Now that you have this data use it!
2. UNLOCK WORK FROM EXISTING CLIENTS
List the services you offer that Sue MP doesn’t currently buy from you. Narrow it down to the services you think they would really benefit from.
Answer some key questions
Why don’t they buy them? Don’t they know about them / can’t they afford them / Don’t they have time to worry about them?
What would be the real benefit to Sue MP buying these additional products / services? What difference would it make to their business / bottom line?
Write a benefits proposal
Start with why you think Sue MP will benefit from the additional services, how will it fulfil their business need, explain what will be delivered, how and when, let them know the cost.
Now go through your list of Buyer Persona A Clients and pull the list of everyone like Sue MP who doesn’t take the services you’ve identified.
Send a light and friendly informal email with your benefits proposal – they are missing out on services that could really benefit them and, as a trusted supplier, it is your duty to make sure they know.
Follow it up with a phone call 2 days later to talk it through.
These are your key clients – they know and trust you, chances are a high proportion of them will either make a buying decision quite soon or will consider adding the additional services to the mix at the next review point.
There – you’ve just unlocked some additional work!
BUT…it doesn’t stop there!
You can also use this big data to identify, find and engage with prospects!
3. FIND AND ENGAGE WITH PROSPECTS
Using your buyer persona/s, get onto LinkedIn and find a list of key prospects, in my experience there will be hundreds so I stick with five per week.
Based on your persona, you know pretty much everything about these prospects so use this information to talk to them in a way that demonstrates your deep understanding of their business needs.
Offer up only the services you know they will put the highest value on. Let them know you help clients with similar businesses and demonstrate what you do for those clients.
Be consistent. Be polite. Follow up.
There – you now have a sales pipeline that is being fed with qualified leads and a process in place to engage with them.
It sounds simple because, at it’s heart, it is, and this is just the tip of the iceberg – you can use this data in many other beneficial ways!
The key difficulty business owners face is in finding the time to gather the data, analysing it into useful persona’s and then taking the time to unlock the data, both for existing clients and new prospects.
This is something I have done successfully for many clients and I can do it for you too.
I work as an extension of your internal team to gather and assess the information. I then create the benefits proposals for internal clients and go prospect hunting and engaging on your behalf of LinkedIn.
The whole process takes about a month to start unlocking your big data and, once it’s unlocked, the process will feed itself with very little need for any additional external support or resource.
Get in touch to arrange a chat so see if I have help unlock your big data for business growth. I look forward to working with you.