How to win new business before anyone else knows it exists.
New business opportunities are a living breathing entity with a clearly defined lifecycle. Get in early and you could get the order. Leave it too late and the moment is lost.
The trick is to find embryonic clues that signal a company is about to grow or evolve. Because these changes will often require new partners to support a fresh or expanded vision.
If you identify significant change early enough you can prepare a proactive approach that could land you the business before your competitors even get wind of the opportunity.
So what are these new business triggers?
All these moments could potentially coincide with a prospect reviewing their company strategy, hiring new suppliers or increasing media and marketing spend.
Over a busy six month period Jagermeister changed distributors, hired a senior brand manager, appointed a new agency and announced plans for a media campaign. By the time B&T reported on these developments in September, it was too late to get involved. But if you'd noticed the initial distribution move back in April, you could have anticipated Jager's needs and offered a tailored solution before they even knew they needed one.
Headline grabbers like 'Red Bull Australia announces agency pitch' or 'Hero Condoms launches new advertising campaign' may be sexy. But by the time you read them in the industry press, the opportunity has often sailed.
On the other hand, 'Bacardi-Lion acquires a new cider for Australian distribution' (IRD Insight, 23 Dec 2013) might not be so obvious. But if you have the nouse to spot the opportunity and act pre-emptively, it could be the start of something beautiful.
Matt Skinner, Managing Director, IRD Group
Contact us today to learn how a more targeted approach can significantly increase your success rate.