|November 1, 2023||Comments Closed|
‘Rainmaking’ is a metaphor for bringing in new business and making more money.
It’s the highest form of business development.
Selling intangibles is hard work. It’s built on reputation, relationships and trust. It’s quite different from selling a car, which is based on features, benefits and price.
Most professionals are technically well-trained to be accountants, lawyers, insurance brokers or engineers. Unfortunately, they are seldom taught how to sell their services.
Every business requires new clients for its long-term growth and survival. This responsibility often falls on a small number of people. In today’s highly competitive market, professionals are required to be technically sound and to be able to generate, develop and retain profitable clients.
The ability to generate new business in an important skill if you are looking for promotion. If you run your own business development it’s absolutely critical.
7 key things rainmakers do
Rainmakers don’t sell; they help clients buy.
Rainmakers also understand how clients buy. They build a bridge from their expertise to their clients’ goals, focusing on these seven tactics.
Tactic #1: They create awareness about themself and what they do
Leverage their networks of contacts
Obtain referrals from existing clients and influencers
Conduct targeted outreach to prospective clients that match their ideal client profile.
Tactic #2: They help prospective clients understand what they do and point of difference
Develop a target value proposition and core marketing message
Create persuasive marketing materials and a magnetic website presence
Position themselves within their targeted markets.
Tactic #3: They continue to build interest with relevant content
Nurture and educate prospective clients
Make relationship building a top priority
Follow up and stay in touch
Tactic #4: They earn respect as professionals who can and will help
Deliver high quality work
Build credibility with references and testimonials
Maintaining a high reputation.
Tactic #5: They build trust and confidence
Remain client-centred in their approach
Treat qualified prospects in same way they treat top clients
Are proactive in researching and learning about a prospective client.
Tactic #6: They qualify key decision makers
Confirm ability and authority to make decisions
Fully qualify and understand their needs
Agree on the budget and resources required to move forward.
Tactic #7: They sense the right time
Look for trigger events that indicate the time is right
Reach conceptual agreement about the clients’ goals and objectives
Suggest the next action to get the ball rolling.
When you stop selling and start focusing on how client’s buy, you will be better able to manage and maintain an overflowing sales pipeline and convert a steady stream of new clients. You’ll be working within your comfort zone, experiencing less stress and gaining more enjoyment from selling.
You will become a rainmaker.