There are essentially two types of ways to grow your business: prospecting and attraction marketing. Which one is more powerful? Let’s take a look.
But before we do, the purpose of this isn’t to pick one of the other. I regularly do both for my business, but my skills lean more toward attraction marketing. They both have their pros and cons, which we will cover. And the people who do it correctly are the ones using both. You might focus more on one or the other, but the key to to find which is more powerful for your business and your skills.
The Case for Prospecting
Prospecting involves going out there and talking to people. This could be people you know, people you do business with, or just complete strangers you run into. Prospecting activities could include thing such as:
Inviting people to look at your business
Handing out flyers or brochures
You might use different types of tools for prospecting, such as a brochure, product sample or video. The upside is that you are taking consistent action to find customers, clients and business partners. You can also qualify these prospects, choosing which ones you want to talk to. There may be some type of people you just don’t want in your business.
Have a Specific Prospecting Plan
It always helps to create a list of prospects so that you have a specific plan. Prospecting can be done in person or online. If you’re prospecting random strangers, such as a waiter at a restaurant, it’s kind of a shot in the dark. Now, you might like a waiter’s service and personality, and think he might make a great client or business partner. In that sense, you are qualifying him. But a downside of prospecting in person is that you can prospect some real duds.
Using the Internet to prospect, as long as you’re doing it the right way, can be powerful. Facebook, for example, has a great Audience Insights tool in its Facebook Ads service. You don’t have to be running ads to use this feature. You do need a Facebook Ads account, which is free. You can search certain demographics settings that match your target market and see what pages they follow. This is awesome!