Acquiring Your Dream B2B Clients
The Dream List
A Dream List is a marketing strategy that can be used by businesses that only need a set of high-value clients to be successful. If you can identify the ideal customer for your business, then you want to search for others like them.
How Do You Work Out Who’s On Your Dream List?
When it comes to deciding which customers you want on your Dream List, it’s a good idea to think about your existing customers. Look at who you’re already dealing with. Think about who you really like working with - they’ll probably be the customers that buy from you regularly, are loyal and you genuinely enjoy speaking to. Because they’re interested in your product/service, they’re exactly the kind of customer you want to find. Then FILL your Dream List with potential customers like that.
For every business, the Dream List strategy will work in a slightly different way. An accountant, for example, will have quite specific requirements for their Dream List: in the right location, the right sort of size and turning over the right sort of figure. For a graphic designer, location is going to be less of an issue, but they’d still want to be working with companies that will pay them the right fee for their work. Working out the customers you want on your Dream List is the crucial first step and it’s really important that you get it right.
Getting The Right People On The List
Your Customer Avatar
Your customer avatar represents your ideal customer – the kind of individual or business that you want to work with.
Ask yourself some questions about them: If they’re an individual:
- Where are they based?
- What’s their gender?
- What’s their name?
- What do they look like? (Overweight, thin, stylish, well-dressed etc)
- How old are they?
- What do they do for a job?
- What sort of movies and TV shows do they watch?
- What books do they read?
- How educated are they?
- What are their political views?
- Where do they go on holiday?
- What do they like to eat?
If they’re a business:
- Where are they based?
- How many employees do they have?
- What’s their annual turnover?
- Are they a B2B or B2C business?
- How much do they spend on your service?
- What is their company structure like?
- How long have they been in business?
- What problems do you solve for them?
Once you’ve got the answers to these questions, you’ve got your customer avatar. You can then start to make a list of potential customers who have those characteristics and that you’d like to work with.
Building YOUR Dream List
It’s all very well knowing what a Dream List is, but HOW do you implement it in your business? Here is a 7 step plan of action for you to follow to effectively build a Dream List for your business.
1. How Do Get A Quality Dream List?
Based on what you’ve discovered from analysing the behaviour traits of your current clients, to figure out your ideal customer avatar, the next thing you need to do is START using this knowledge to build your list.
Begin by devising our current dream list into two: the companies you know well and definitely make the cut, and the companies you need to research a little more to make sure you're the right fit.
Here’s a few extra little hints to help you work out who these people are:
- Sensibly geographically placed
- Head over to the Companies House website and download prospects accounts – each document costs £1. If you do this with your current customers, and then with some of your prospects you’ll be able to match them up and see which of your prospects have similar turnovers, therefore, are more likely to be in a position to spend a similar amount on your service.
- Check their website to see how many employees they have.
- What industry are they in? If you like working in that industry then it makes sense to amplify the number of those businesses that you work with.
- Think back to the problems that you solve for your current clients. What are the most common ones? Why do those problems crop up? What other businesses experience those problems?
2. Who Else Can Help You?
TALK to people that might be able to help you identify the right companies to go on your Dream List!
- Existing Customers
Anyone who will have any knowledge of the right types of businesses that should be on your Dream List and who can help you extend your list.
3. At This Stage – DON’T Buy Data!
It’s superficially attractive to think that you could buy some data and you’ll have a dream list but you’ll come unstuck because you won’t know enough about the businesses to know that they’re a good fit.
By this stage, you should have some companies listed based on the guidance given above and by using your customer avatar to help work out who they are, but now you need to make some time to do some proper research.
5. The RIGHT Contact Details
Whether it’s yourself or one of your colleagues, you need to be obtaining the correct details.
6. The Power Of UpWork
Now it’s time to do some research on LinkedIn and Facebook!
As a business owner, there’s absolutely no way you should spend your precious time hunting down your prospects on Social Media Platforms, however, there’s a website called UpWork where you can upload a job specification and have it done for you within 24 hours.
The reason why you would do this is because when it comes to actually writing the marketing campaign you’ll have such a clear idea about who the people are that you’re communicating with as you’ll have learnt a lot about them from their website but you’ll also see what their presence is like on LinkedIn and Facebook, career history and so on.
7. Connect With Them!
Once you’ve got set up on UpWork, find them on LinkedIn and connect with them!
BUT before you do this, you need to make sure you have a LinkedIn and Facebook profile you’re proud of, so make sure you’ve got all of this in place as it will strengthen your positioning before your letter lands on their desk in a few days’ time.
Average Customer Value
How To Work It Out
Obviously, you’re going to have to do some marketing in order to get these prospects to work with you, but before you go full steam ahead sending out emails and leaflets, your first step needs to be working out your average customer value.
Every business HAS an average customer value. Even if your customers are paying you different amounts, if you add up the entire amount that they’re paying you and divide it by the number of customers you have, you’ve got your average customer value.
Why Does This Matter?
Working out your average customer value matters A LOT because it’s only by doing this that you’re able to work out what you can afford to spend on acquiring new customers. Given that this is what the Dream List is all about, it’s definitely worth working this out.
If you work out that on average, you convert one out of every ten prospects that you market to into a paying customer, and that one customer is going to be worth £1000 to you per month, then even if you spent £99 on each of those ten prospects, you’d still be making a pound if one of those prospects comes on board for just one month.
In effect, by spending £990 on marketing, you’ll have brought in £12,000 of new income per year. When you think about it like that, it’s really obvious that if your company would benefit massively from a small number of customers, it’s worth spending time, energy and money on acquiring that customer.
Time To Think Back To Your Customer Avatar...
Once you’ve worked out how much you’ve got to spend on marketing, it’s time to go back to your customer avatar, as in order for your marketing to be effective, you’re going to need to tailor your campaign specifically to your target customer.
The other advantage with the Dream List is that because you’re only marketing to a limited amount of targets, you can make your marketing more tailored and more personal.
Where The Marketing Magic Happens!
Time To Get Creative
It’s time to get your creative thinking cap on and come up with a FANTASTIC direct mail campaign to send to your Dream List. Here are a few ideas to get you started:
1. Why not send them a branded gift through the post? It could be properly packaged up ‘Amazon-style’ – there’s no chance that a package like that will be left unopened. You could include a sales letter in the package with a powerful offer that will definitely get them thinking about your company.
2. You could send them a hand-written letter that sells your services, and also include a token item to get your mail opened. Something unique and creative would be ideal. The main point is to try to be remembered, and including something tangible in your campaign could really help leave a mark.
3. You could even send out a sales letter with a tripwire offer. This involves putting a ridiculously low offer on your product/service, to get your potential customer buying. Despite spending initially to GET the customer, you’ll be saving in the long run if the customer comes on board.
Want to make more leads?
Read the above article, liked the idea but still want some help getting set up? Call us now to talk about acquiring leads for your business.