Quick Wins

It’s no secret that business development is harder than ever.

Low deliverability rates on cold emails, AI and automation increasing spam, along with a tough economic climate, is a dangerous mix.

BUT often people do “cold” outbound when they could do warm business development instead.

Here are some quick wins with people in your network:

1) Former happy customers who’ve recently changed company:

They have awareness of your brand. Even if they don’t have the relevant problems at their new company, you can ask for referrals

2) 1st connections on LinkedIn that fit your ideal customer profile:

If you’re connected with someone on LinkedIn, you will typically have a much higher response rate than email (some data sources put this at 85% vs 20% for email)

3) New geographies & departments at enterprise customers:

If you’re working with a company with 500+ employees, get a case study with them and then send that case study to other geographies and departments in the same company

The probability of selling to an existing customer is 60%-70%, while the probability of selling to a new customer is 5%-20% according to the CPSA.

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- Michael