Advice: Gaining new customers

Ignition managing director Andrew Chemney gives more straightforward advice to help you avoid pointless investments in the search for growth.

AndyChemneyIf you want new customers, you need these three things:
  1. Prospects you can target and reach
  2. Prospects who have a problem they want to solve using your product or service
  3. Prospects with the inclination and ability to spend cash to solve that problem
If you're planning to start a new business or looking to expand into new product areas, check that you can tick these three things. If you can't, you've got a problem!

Obvious, eh?

But you would be surprised (or not?) how many businesses never think this through before embarking on a whole load of pointless investment.

And whilst I'm on the subject of new customers... as we finally start to emerge from recession, you may find that there are a few more customers around than there has been for the last two years. If so, take a step back and think about which new customers you would most like to have (after all, you can't focus on them all!)

Here's some questions to ask yourself:
  1. How much does this customer need us?
  2. How difficult will it be to get that customer?
  3. How valuable are they likely to be to us if we get them?
  4. How demanding are they likely to be?
Asking yourself some of these simple questions will help keep you focused on those who are most likely to help you succeed. Andrew Chemney Managing director Ignition CBS