Please excuse the title, I’m writing this just after Halloween...
Most companies have lots of old customers – not they are actually ‘old’, but simply companies that haven’t done business with you for a very long time.
Why they stopped doing business with you is in most cases a mystery. Perhaps a sales rep annoyed them at some [point, or an order was late, or a competitor made them a better offer – lots or reasons but with the passage of time the reasons are likely forgotten by both of you and are likely irrelevant to doing business today. You know who they are, its not a cold call,pick up the phone and re-engage.
First step is to create a list of those who fit today’s ideal customer profile. You can do this from your CRM if you have a current one – if not – no problem, use your accounting system to see who used to buy but is no longer buying.
Next sort the list logically – it could be large, medium, small, geography, vertical market etc. You can also sort based on who they may be buying from now (if you know) and, if there is a dominant competitor, develop a strategy to win them back.
Once you have the short list, identify what it is that your company is doing now that should be of interest to them (that’s why it’s important to sort the list). Also, have a call guide that asks for strategic information. For example: Who is responsible for this type of product or service ? Who are they buying from now?; Are there any reasons you wouldn’t buy from us again; etc?
Next, assign the list, or sub lists ,to your sales team. Have a one-day challenge to see how many connections you can get. And, depending on the nature of your sales cycle, see how many sales or next steps you can confirm.
As with everything – track the outcomes and the market information you collect. You’ll be glad you did.
Will you let me know how it worked out?
Bye for now.