Profitable summer suggestions

[Jeanne is off to Oklahoma City for a couple of days, but she has sent this article along to share. It’s targeted at businesswomen, but applicable to all entrepreneurs. Enjoy!]

How I Spent My Summer

by Janet W. Christy

In September what will be on your list of accomplishments?

Vacation Trip
Tan
Souvenirs
Mosquito Bites
New List of qualified Prospects for your business

Summer is a great time for businesswomen to do marketing research and planning. It is often difficult and frustrating to get things done during the summer because the pace is slower and people are on vacation. So those hot months are an excellent time to identify potential customers/clients, learn more about them to determine if they are a good prospect and develop a plan to make contact.

In my book “Capitalizing On Being Woman Owned” I provide detailed information on identifying and qualifying prospects and marketing your business using the angle of being Woman-Owned. But all Marketing and Sales is based on finding the right angle and using it effectively. Here are 6 Key Pointers for doing effective research once you’ve decided on your best Marketing Angle.

Choose one or two of your products or services

When doing research you always want to focus your efforts. Limiting the number of products or services that you will seek prospects for is a way to focus. For example, if you provide Interior Design Services, you could concentrate on design associated with renovation. Or if you provide office supplies you might focus on unique paper products or the fact that you deliver.

Choose a particular type of business to research

Even though anyone may be a prospect for your products/services, you cannot research or contact everyone at once. Narrowing your research to one or two business types will allow you to be thorough and effective in your research. This will also keep you from being overwhelmed, which could cause you to give up on this valuable process before you reap any benefits. Some examples of business types include the following:

Local Government
State Government Agencies
Manufacturing
Retail
Colleges and Universities
K-12 Schools
Construction

You may even want to narrow a business type even further, depending on your specific products/services. For instance you might narrow Manufacturing down to automotive manufacturing or Construction down to medical facility construction.

Choose a geographic area

Limit your research to an area that you can feasibly research, contact and service. This might be your home county, a neighboring state or a region such as the mid-west.

Use your prospects’ websites to learn specifics about them

Learn what they do and how they do it – this will allow you to show how your product/service benefits them, which helps turn them from a prospect to a customer.

Be sure that you can actually serve the needs of your prospect before you call on them

Otherwise you waste their time and yours.

Document your research

Don’t trust your memory. You need to make notes, keep lists of websites, make record of contacts and note follow up plans.

Janet W. Christy is author of Capitalizing On Being Woman Owned and president of Leverage & Development, LLC. Used by permission of the author.

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About Becky McCray

Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.