As a small or medium-sized enterprise (SME), tapping into your immediate network can be a goldmine for business development, a strategy often overlooked yet highly effective. All too often people look for new sources of business outside of their existing client base, rather than utilising existing relationships.
For many SMEs, referrals are a crucial source of new business. However, it’s common to hear from our community that they feel they have exhausted this avenue. However there’s often more potential to be unlocked within existing networks.
Instead of immediately turning to cold outreach, which can be time-consuming and less effective, I’ve seen success by revisiting current and past clients, as well as previous pitches and strategic partnerships. The key lies in actively nurturing these relationships to maximise their potential.Â
Every SME has its set of advocates, but they may need the right motivation to actively promote your business. You need to create conditions where satisfied clients are encouraged to talk about your services within their networks, leading to valuable introductions.
The hesitation often comes from not knowing how to approach these conversations without seeming overly sales-focused or desperate. Crafting the right message and cultivating the right type of relationships is crucial to ensure that these interactions are both effective and comfortable for both parties.
My top tip – remember that the goal of marketing isn’t always to make a sale, it’s to be top of mind when someone is ready to buy. So, maybe it’s time to ditch the sales pitch and start developing real connections with your existing client base.Â
I’m not saying press pause on all your lead gen and advertising activities but rather, ensure you’re nurturing existing audiences at the same time. If you’re an SME looking to grow your business, the first step should be to look inward at existing networks and relationships.Â
For those SMEs considering adapting their outreach tactics, Snap can help create effective strategies for lead conversion through platforms like LinkedIn and concise direct email campaigns.
By effectively leveraging these connections and learning the art of subtle yet persuasive communication, SMEs can unlock a powerful channel for sustainable business growth.
