Are you struggling to find new clients? Don’t worry; you’re not alone. Whether you’ve been in business for ten years or just ten days, nobody is immune from having to endure a client drought.
However, what separates businesses that survive from the ones that wilt away and die is what you do to respond to these tough times. First of all, you need to diagnose exactly what is going wrong in your business to cause your current lack of paying customers.
Is this a new problem, or have you always had difficulty finding new clients? Has your product or service changed to the disliking of your current customer base?
Before you go any further, the first thing you’re going to have to come to terms with is the brutal yet honest truth. It’s probably YOU, not THEM.
With that said, let’s take a look at three of the most critical reasons businesses struggle to find new clients and what you can do to fix them.
If you’ve been following along with the current client attraction strategies presented by most marketing experts, you’ve probably come across countless variations of content marketing tactics..
These strategies involve churning out mountains of content in order to attract potential clients to your sales funnel in the hope they will eventually convert to a paying client. Think of it like fishing. The more lines you have in the water, the more chance you have of getting a bite.
While this method definitely works, it’s usually not the best way to spend your time and resources as a business owner. These days, people would have you think content is the be-all and end-all, but that simply isn’t the case.
Granted, it’s important to host an active blog to connect with your community and build authority in your industry, but this should never be your primary source of attracting clients. If it is, you’re just one Google algorithm update from losing your main source of income.
What’s the alternative?
Depending on the product or service you offer, you should try and deliver your message to your ideal customer demographic with targeted ads and active client attraction strategies, such as hosting webinars, attending networking and live events, and actively seeking referrals.
Despite your best efforts, your well thought out and perfectly executed business plan will count for very little if you’ve been putting all your energy into enticing the wrong people. In other words, if you’re chasing after the wrong clients, you’re going to have a tough time landing the right ones.
You need to have a very good understanding of the service you provide and what kind of person will benefit from it the most. Say, for example, you run a fitness coaching business. Ideally, you should look for clients who:
- Need your help
- Are motivated and ready to be coached
- Have the highest chance of seeing positive results with your program
Russ Ruffino, CEO of Clients on Demand, explains how you need to find “not just any clients, but the right clients. The ones who are thrilled to work with you. Who understand that you’re unique and different from anyone else in the marketplace. Who show up coachable, decisive, and resourceful. Who do the work, get the results, and make you look like a rock star.”
One of the hardest things to do in business is to view your own product or service objectively and set a fair price for what you offer. Clients will purchase your service if they deem it to be valuable; if they don’t, they will look elsewhere.
However, contrary to what you’re probably already thinking, this doesn’t always mean that you’re overcharging for your product. Undercharging for your service is one of the most common sins that service professionals are guilty of, and it can prove disastrous for your business in many ways; here’s why:
- Lower prices mean you need to find more clients. This leads to you becoming overworked and delivering a lower quality service to your clients
- You feel undervalued and may be less enthusiastic about your work
- You have less revenue, which means you can’t afford to invest in essential business tools that could help propel your business forward.
The key here is to price yourself intelligently. Granted, this is easier said than done, but it’s vital you get it right. There’s a sweet spot to every product or service, and it’s imperative you find it. It’s usually far more likely that you’re undercharging your service, which will have a profoundly negative impact on your business in the long run.
Look at your competitors and how they’re priced. How do you match up to the standard?. Is your target market particularly price-sensitive, or could you raise your prices without scaring them away?
More often than not, the reason you’re struggling to find new clients is due to internal factors rather than external. The more honest you can be with yourself about your business, product, or service, the better.
If you’re stuck in a rut, switch to a new marketing campaign to try and actively pursue clients. Have your ideal client in mind and tailor advertisements directly towards them, highlighting how your business solves their problem.
Admittedly, all of this can be a lot to take on board. If you feel like you need assistance in order to take your business to the next level, you should strongly consider seeking out expert help from programs such as the aforementioned Clients on Demand.
These guys know what it takes to get results and will be able to help you get back on track in no time. Check out what some of their students have to say about their course; the chances are you will find a story very similar to your own.
This article was written by Mark Hopkins.