Industry Issues

On Finding New Business...

Understand and work with your existing customers

  • Understand your “wallet share” with your customers – in other words, what portion of the customer’s total relevant business are you providing? If not 100%, then how can you grow this wallet share and become a more fully integrated supplier?
  • Study the business your customer is in – what does their supply chain look like? Are there opportunities upstream (their suppliers) or downstream (their customers) for your special product and service offerings?
  • Be sure to ask your customer for referrals, not only for their supply chain but also for affiliates, neighbors, association co-members, etc.
  • Ask for written testimonials – these are great for establishing credibility in introductory sales calls.

Use Web Searches

  • The internet opens up the world to you and facilitates connections with a variety of people and companies in very little time. Use the power of modern search engines to research and brainstorm new business opportunities.
  • Start off by compiling a list of terms associated with your products and services. Next, conduct searches on those terms to uncover related companies, associations, documents, discussion groups, conventions, etc.
  • Follow these links and print off or copy relevant information into a personal prospecting folder.
  • Some popular search engines include:

Use Sales Lead Databases

  • This is a fast way to gather a contact listing of prospects. Many companies are in the business of compiling large databases of companies including industry information and management profiles. Based on known industry codes, these databases can be sorted very easily to target your particular interest group. A few such databases are:
  • You can expect to pay subscription fees for access to these databases. You can often limit your cost by narrowing your focus to specific industries or specific states.
  • Many other databases are available on the internet including those attached to various industry associations or buying groups which are generally free to access.
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