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Boost Social Media ROI

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Like nearly all Freelance consultants,   I engage in social media  (LinkedIn)  for professional reasons.   I have yet to obtain a client through social media interactions  (my business is nearly 100% referral,  since basically no one hires business strategists or marketing consultants without a personal endorsement),  but I must keep up appearances and so I keep my profile in good shape and post relevant updates to keep things fresh.

The experts say that like all marketing campaigns,  what and how you communicate through social media must appropriately reflect your brand and appeal to current and prospective clients.   To achieve the desired return on investment from social media,   it is imperative to deliver the right message to the right sites.  To accomplish that,  you must know the customer.   Who hires you and what type of social media might they trust and follow?

To help define which social media platforms to focus on,   begin with the age group of your prospects.   Are they under 35 years old? If so,  they are more likely to be very comfortable with a variety of social media.  They’re likely to  own a smart phone,  tablet and laptop.   They may very well create and copiously share online social media content in their personal and professional lives. 

Conversely,   if your typical clients are 40+ years old  (like mine),  they are less likely to be heavily involved in social media and much less likely to create  content.   They may own a smart phone,   are guaranteed to use a computer and may even own a tablet,   but should they decide to share content,   it was most likely created by someone else.  

Social media expert Judith Lewis  says that about 20%  of social media users are High Sharers and about 80%  Low Sharers.  High Sharers are almost three times as likely as Low Sharers to recommend  products or services to those in their network.   Therefore,   it is wise to create content that will appeal to the High Sharers,  who will do some  “e-legwork”  on your behalf and boost your social media ROI. 

Lewis has identified seven types of social media High Sharers and explains how their sharing style can be leveraged to target and engage clients and prospects.   Give the list a read and see how you might tweak your message and perhaps vary the sites you use:

Altruists

Altruists share content out of a desire to help those in their network.  They respond well to appeals made through email and Facebook.  Altruists make up the largest percentage of social media users.

Selectives

This group shares information if they feel it will be useful for a specific individual.  They usually use email to share information.   Selectives comprise the second largest percentage of social media users.

Passionates

Passionates share information with those who share their intense interest in a given topic,  cause,  band,  fashion designer or whatever.  This group uses Facebook most frequently.   Also,  they are big contributors to customer review sites.

Connectors

As their name describes,  this group likes bringing people together to socialize or perhaps do business.   Connectors tend to use several social media sites,  most notably LinkedIn,  Flickr,  Twitter and Facebook.

Trendspotters

This type uses social media sites to show the world that they are on the bleeding edge of the hottest trends.   Trendspotters are compelled to build their credibility and they are busy working many social media platforms.  YouTube,   Foursquare,  Delicious,  Twitter and Facebook are favorites.   Trendspotters can be very useful for B2C  ventures seeking to increase visibility and sales,   especially in fashion,  electronics and baby products.

Provocateurs

Bloggers often fall into this category  (but not your humble diarist).   Provocateurs like to do just that—be controversial,  cheeky and outrageous and get a rise out their readers.  In addition to their blog,  these folks tend to favor YouTube,  Delicious,  Flickr and Twitter.

Careerists

This group will use social media networking almost exclusively for business purposes.   They favor LinkedIn,  but will use Facebook,  Twitter,  YouTube and Facebook as needed,  to effectively share information about their business enterprise or career.

As a postscript,   I will say that I don’t know any Freelancers who have successfully monetized their social media relationships.   From time to time I read and participate in LinkedIn Answers and there are those who swear that they get clients  (whom they have never met)  through LinkedIn.   I have my doubts.   Still,   creating some buzz will never hurt your business.  If you’re able to get on the radar screen of a High Sharer who will post a good recommendation for your services,   at the very least this may help convince someone who is on the fence to go ahead and offer you the contract.

Thanks for reading,

Kim

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Your Brand: Remix and Refresh

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Freelance consultants represent and inhabit our brand completely.   We are what we do and it’s to our advantage to be known for what we do because it’s good for business.  It is most advantageous to be considered a known quantity,   the obvious choice when clients are in need of our service category.   At the same time,   it is wise to take a page from the Nicki Minaj playbook  (authored by Madonna,  as you know)  and do a remix every once in a while,  to remind the marketplace that what we bring is a little ahead of the curve: au courant, relevant and therefore,  worth a premium.

So maybe every three years or so,  one may want to shuffle the cards,  or play the hand a little differently.  Before making any major changes,  however,  you are advised to obtain a clear understanding of what would be useful to tweak and what to leave alone.   To do that effectively,  it’s important to— guess what?  Talk to your clients.  If possible,  speak also with those who use your category of services but haven’t hired you.   Until you determine what you and your brand represent to clients and moreover,  get a handle on why certain folks don’t hire you,  your rebranding strategy will be counterproductive.

Media titan Kenard Gibbs,  co-founder of Madvision Media and former president of VIBE Magazine,   recommends that like Stephen Covey,  author of  “The Seven Habits of Highly Effective People” (1989),   you begin with the end in mind.   “You need to have some idea as to what you are ultimately trying to achieve …..The end goal dictates how you proceed…..”

Gibbs advises that a SWOT  (Strengths,  Weaknesses,  Opportunities,  Threats)  analysis be done once the customer,  industry and other marketplace research have been performed.   The SWOT internal  (Strengths & Weaknesses,  e.g.  strategic relationships and expertise)  and external (Opportunities & Threats,  e.g. market trends,  the economy,  client needs)  analysis guide your rebranding strategy and identify new possibilities that expand the reach of your potential client base.   SWOT will also ensure that you maintain services that clients value and that your self-editing is perceived as both logical and authentic for you. 

Timing is also of the essence,  so be smart about the rebrand roll-out.  Set a realistic timetable.    Create a timetable for the entire process,   from the client and market research and SWOT analysis to rebranding conceptualization,   strategy formulation,   implementation and assessment phases.

Finally,   give consideration to how and when you will announce to clients and colleagues that you’ve refreshed your brand and what that means.   Gibbs says  “You need to develop an integrated media plan to show that you are available to clients in new and even more useful ways,  that there is a new way to interact with your brand.”   Social media and website updates are de rigueur,   but press releases and paid advertisements in selected media outlets are not to be ignored.

Thanks for reading,

Kim

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Sales and Networking Resolutions for 2012

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Welcome back for the final installment of New Year’s resolutions.  To keep yourself motivated to do what you resolve to do,  be aware that the key to success with any resolution,  personal or business,  is willpower.  Once you’ve set your goal,  then it’s all about execution.  Willpower—call it commitment or perseverance if you like— is the x-factor that most often separates winners from losers  (although good luck helps, too!).

Invite success by instituting systems that will keep you on your path.  Always develop strategies and an action plan for each resolution/goal.  Write up your resolutions and action plan timetable and tape it to your office wall.  Enter action plan activities and tasks into your calendar.  Attach notes to your file cabinet or refrigerator.  Reward yourself when key milestones are reached.

Resolve to network with purpose

A colleague named Lisa is very proud of her networking schedule.  She brags about attending five or six events every week.  The girl is everywhere.  A colleague named Erika is out and about less often.  She attends an event about once a month and works on getting to know the right people and building relationships over time.

So which Freelance consultant has the better reputation and bigger billable hours?  Erika does,  by far.  She works with name brand clients and she always seems to have a job in  (or has just completed or is about to start).  The last time Lisa and I spoke,  she told me that she hadn’t had a client in about six months.   So what’s up? Apparently,  Erika has figured out a networking strategy and activities that bring opportunities.  Lisa’s  “networking strategy”  seems to leave her with nothing but a bar tab and a tax write-off for event admission charges.

It’s interesting,  because it was Lisa who schooled me on the importance of having a networking agenda:

  • Get a client
  • Get a referral
  • Get information

Unfortunately,  the girl does not follow her own advice well enough.  While it’s advantageous to have a presence among peers and potential clients and also check out a fresh venue now and again,  it’s more important to know who will be in the room and understand why you should spend time and money to be there.

Swanning around town is not a viable networking strategy.  The process obviously is random and we never know when and where our next good client will appear—maybe in Pilates class?—but you still need to institute a system and go fishing where the fish you can catch will be.  Review your networking strategy and its ROI.   How did it contribute to your sales pipeline and what was your conversion rate?  Which events might you add or delete?

Take time also to refine the verbal package that is your elevator pitch.  Are you communicating the right info about your talents and services that grabs the attention and respect of potential clients? Do you know what their hot-button issues will be in 2012?

Resolve to show more than tell

Clients want relevant information about your services and how they will drive objectives.  They need to be assured that bringing you in on a project will make them look smart to both subordinates and superiors.

Rather than just droning on about how wonderful you are,  show prospective clients what you can do for them.  Set up this process by doing some research on the organization and its mission and customers.  Get a working knowledge of how your expertise will be useful.

If possible,  tell a story of a similar project you’ve successfully worked on,  to paint a picture that helps the client visualize how what you do fits with their needs.  With that approach,  you may even be positioned to up-sell services they didn’t know they wanted.  Present yourself as a trusted resource who is there to promote the client’s interests.

Good luck with your resolutions and thanks for reading,

Kim

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Business Planning Resolutions for 2012

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This week we’ll consider where you’d like to take your business,  what you’d like it to look like and how you’d like it to operate.  Every journey has a destination or goal.  The journey of your business should not be random;  it deserves careful thought and planning.  Reserve some quiet time to think about the journey of your Freelance venture.  You may want to start by reviewing where you’ve been.

Which kinds of clients and assignments give you the most fulfillment?  Which let your talents shine and/or bring in the most money? What competencies have you learned along the way?  What has taught you to become wiser and more confident?  What were your successes and what would you like to do better next time,  or maybe avoid altogether? Take stock and make a plan for the New Year.

Resolve to develop business goals and strategies

This sounds obvious,  but we all know that it’s very easy to get totally caught up in just trying to find clients and get paid,  getting tunnel vision.  We become like the hamster in a wheel,  busy–busy running in circles,  without giving adequate thought to our actions and following a road map.  As a result,  we can be going nowhere fast.

Start this year by nurturing yourself and taking time to reflect on what has transpired over the past year or two and acknowledging how you feel about it.  Did you set goals for your business? Were they realistic for you?  Which goals did you achieve and how did that occur?  Re-evaluate the direction it makes sense for your business to take and brainstorm strategies that you can enact  (alone or with the help of colleagues)  to bring it there.

Planning is the only way to create a successful business venture.  Set your direction and develop SMART goals :  Specific, Measurable,  Attainable,  Realistic and Time-bound.  Next devise strategies,  the path you will take to reach the goal.  Follow through with action plans  (with dates attached),  to keep you moving forward and on schedule.  Revisit your goals in three months and assess what is working,  what needs tweaking and what should be jettisoned.

Resolve to reaffirm your business model

The business model is the framework by which the business functions as a business:  the products and services that are offered;  by what methods,  in what location and by whom products and services are delivered to customers;  how the business will attract and retain customers;  the length of the sales cycle;  and how and when payment for products and services will be made.  Is your business model operating effectively?  In 2012,  take steps to ensure that your operation functions like a well-oiled machine.

For Freelance consultants,  the system of outreach to potential clients is often a sticking point.   Periodic review should be given to the products and services offered and how they are packaged,  presented, delivered and priced.  Talking with trusted clients is a good way to get feedback on your business model.  If you’re a LinkedIn member,  visit the Answers Forum and put questions out to your peers.  You will likely receive much useful information.

Finally,  review how you typically obtain clients and prospects.  Do you solicit them  (and how that happens),  do they find you  (and how that happens),  or do colleagues make referrals and introduction?  Which method has the best conversion rate?   What is the profile of organizations that have become your best clients over the past three years? Use what you learn about all of the above to buff up your business model and set the stage for a more profitable 2012.  New Year’s Resolutions will conclude next week.

Thanks for reading,

Kim

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From Employee to Freelancer

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Perhaps the handwriting is on the wall?  Is your intuition talking to you?  Anyway,  rumor has it that a few jobs will be eliminated and you suspect that your head may eventually be on the chopping block.  In addition to sprucing up your resume and LinkedIn page,  you wonder if perhaps you might go out on your own?  If you must face insecurity,  why not have it on your own terms?  You may be right.  Millions of Americans have done exactly that,  including your humble diarist.

If you’re still collecting a check consider yourself fortunate,  as tense as things may be at the office.  Having a job gives you two enormous luxuries: time and money.  I was not so lucky.  I tried for many months to get a job after losing my long-held corporate gig.  I knew nothing about how to Freelance,  although I had long harbored the desire to strike out on my own.  Unfortunately,  I had to learn the hard way.  It was an expensive lesson that continues to reverberate.  On the other hand,  I am in business and somehow manage to support myself.

Self-employment is difficult in any economy.  It’s necessary to work hard and work smart,  plus be resourceful,  resilient and rather lucky.  I know a few people who are making good money,  but I’ve read that a 30%  decrease in income is typical.  Freelancers must campaign and compete for assignments and there will be gaps. 

Clients are known to pay when they feel like it and collecting in 15 – 30 days is not always possible.  Furthermore,  there are many expenses that we must shoulder:  professional training seminars,  technology and office supplies,  retirement plan,  health insurance,  life insurance  (yes, we do need it,  even if unmarried and childless).  On top of that,  we have no paid sick days,  vacation time or holidays.

But if you’re trying to explore all income generating options because unemployment checks do not last forever and you wonder if your next employer might be you,  here are a few Freelancer start-up guidelines for you to follow:

Expand your network

It’s almost impossible to secure work assignments when you’re not well-known to potential clients and there are few who can give testimonials that will vouch for your expertise.  Growing your network is the most important step you can take in preparing to become a Freelance consultant.  Ideally,  you will consult in a field and specialty where you have deep expertise and credibility. 

Immediately begin to cultivate and solidify client relationships with those who can green-light projects you would want.  Identify professional associations that cater to consultants in your industry and also seminars that clients attend and get on mailing lists,  so you’ll know where to network.  Read industry blogs and other publications,  so you will be up-to-date with important issues.

Check your credentials

Be sure that whatever competencies and qualifications,  degrees,  certificates,  licenses and/or  insurance necessary to do business are in hand.  Whatever you don’t have and can get on your employer’s dime,  take steps to do so ASAP.   Otherwise,  consider professional development expenses as a 2012 tax write-off.  If nothing else,  the improved credentials might help you get your next job if you decide to hold off going out on your own.

More next week,

Kim

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Smart Responses to Common Objections

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The savvy Freelancer knows to make hay while the Summer sun shines and contract assignments dwindle.  Registering for a conference that will expand your knowledge and your network is one way to make good use of your time.  Setting up meetings with potential clients that you’ve perhaps been pursuing since last November is another good use of your time.  Despite vacations,  I’ll bet they’re more available to meet you for lunch or coffee in July and August.  Summer is the time for Freelancers to sow relationship seeds that will be harvested as billable hours come Autumn.

Along the way,  we will unfortunately have an objection tossed onto our path by a skeptical prospect.  All may appear to be rosy until it’s time to schedule the appointment—and then your prospect balks.  “What is it that we’re supposed to talk about?”  “I’m not sure if we’ll have any of your kind of projects on the immediate horizon.”  Or maybe the stumbling block won’t get thrown at you until the face to face is on.  Whenever it happens,  your potential client will be in grave danger of fading away and  you’ll need effective CPR to save your budding relationship.

Fortunately,  client objections tend to fall into predictable broad categories.  To formulate a credible response,  you must first recognize the real question that underlies the objection— that would be the category it falls into.  There are only a handful of objection categories that Freelancers will most often encounter.  Take a look at these two:

I.     No trust

Your prospective client doesn’t trust you and questions your experience and abilities,  or might be somewhat cool toward you, because you are an unknown quantity.  The remedy is to obtain an endorsement from someone who is known and respected by your prospect.  If you sense that you are being held at arm’s length and rapport is not being established,  name a client  (or organization)  for whom you’ve worked,  one who could be familiar to the prospect.  If possible,  strengthen your hand by attending a gathering  (social or professional)  that the prospect is known to attend.  Proceed to let your prospect witness you interacting as a peer with colleagues and friends he/she knows and admires.   Your prospect will feel much more comfortable with you,  the ice will melt and you’ll soon be invited into the office to talk turkey.

II.     No need

Sometimes a prospect just wants to blow a Freelancer off,  so we’re told that there is no need for our services  (even though we know that’s not the truth!).  Other times we hear this objection because the prospective client doesn’t know us or have reason to trust us,  so he/she will fudge the truth and claim to have no use for what we’re selling.  Keep talking and don’t be shut down by this one if you know there is a need for your brand of expertise.  This client must be convinced of the value and ROI of what you bring.  If you’ve worked with clients who would be familiar to this prospect,  drop the name and briefly describe the successful outcome of your project.

Talk about the revenue stream that was created or the money that was saved or the market share gained.  Then ask a pertinent question in an area you suspect may be of interest and where your knowledge and expertise shine.  “What about _____ keeps you awake at night?”  “How do you and your team get your arms around…?”  Get this client to open up and talk about what’s really going on and you may find yourself in a conversation about how you might be able to help them out.

More on this topic next week.   Thanks for reading,

Kim

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Seven Resolutions for 2011 Part 2 of 2

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Here are the remaining four resolutions that should help you construct the framework for a prosperous year.  Nothing especially novel or profound is being suggested.  To the contrary,  I’ve presented nothing that you don’t already know.  Consider these resolutions to be  a gentle reminder.  You decide which deserve follow-up. 

4.   Revisit your networking  strategy

Get the most out of networking by following a basic agenda,  one that keeps you focused on the real purpose for being there and takes the experience beyond just a random meet & greet.  This agenda works best face to face,  but it can also be used when engaging in online social networking.  The recipe is:  Get a client.  Get a referral.  Get educated.  In other words,  when you’re out there networking,  do your best to get something tangible.  At the very least,  get some information that might help you land a client or receive a referral.  Sweeten the pot for those whom you’d like to know better by offering them something of similar value,  to make helping you worth their while.  Networking flows best on a two-way street.  With this criteria  as a guide,  consider which social networking platforms you use and why you use them.  Is the ROI worth the time spent to keep up?  Next,  consider if you are participating in the right amount of face to face networking and assess the quality of your usual haunts.  How much time and money have you spent at these events and how has being in those rooms impacted your billable hours?

5.   Review your client list

Which clients pay you the most money?  Can you make that happen again this year?  From which clients might you be able to get more money?  Can you dare to raise your hourly rate or project fee for any of them?  Conversely,  which clients are more trouble than they are worth,  high maintenance headaches who do not pay enough to make up for the misery incurred?  Are there clients you should fire?

6.   Develop a prospect list

Who is your dream client?  It’s time to devise a strategy to reel in that big fish.  Identify your decision maker,  or key influencers who might get you in the door.  Maybe you know a colleague who can either make an introduction to the right person or tell you at which networking activities you could meet whom you need to meet?  Make a plan.

7.   Review professional development needs

Will enrolling in graduate school,  taking a seminar or earning a certification increase your credibility and make your services more marketable?  Is there a professional organization that would benefit you,  one that offers good peer networking and useful skills updates? Ask around.

Thanks for reading,

Kim

Marketing , , 2 Comments

Diversify Under Your Brand Umbrella

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“Show me a company with more than 10 % of its business with one customer or more than half of its business in one industry and I’ll show you a company at risk of being (adversely) impacted by one company or one industry.”

Paul Weber,  CEO Advertising Group    Kansas City, MO

In the Freelancer’s favorite dream,  we somehow manage to sign a nice group of steady clients who all offer multi-week projects that carry us smoothly through the year.  We smile as we sign our contracts and deposit our checks…

In the rude awakening that is the  “new normal”  economy,  however,  the realization of our dream is slipping further from our grasp.  Client behavior is more fickle than ever and outrageous fortune can oh,  so easily snatch a good account away from us,  no matter how well we work with the prime contact or how long the association.

A departmental  shake-up can cause  someone new to enter the Garden of Eden,  who will cast us out and bring in their own hand-picked specialist.  Other times,  industry changes,  shifting organizational priorities or even a technology upgrade can render our services obsolete. 

Knowing our primary customer groups and industries where our services are most welcome is essential branding knowledge for every Freelancer.  Nevertheless,  underneath the umbrella of your brand,  it is wise to keep eyes,  ears and mind open for new sectors of enterprise.  Where else might you find an open door?

I liken it to cross-training in fitness:  participating in different activities expands our competencies,  guards against boredom and makes us less vulnerable to injury.  Cross-training makes us  stronger,  more versatile and ultimately,  healthier.  Under the umbrella of fitness,  it is possible to run,  swim,  bike,  row,  ride the elliptical,  weight train,  core train and practice yoga.  It is wise to apply that principle to your body and your business.

Here are five activities that will help you to apply the cross-training principle to your business and help you to diversify your client base:

1.   Cold call  by reaching out to clients you haven’t worked with in a while or re-approaching prospects who liked your services but weren’t ready to take you on at the time.

2.   Energize your PR  by sending out press releases that announce your speaking or teaching engagements to media followed by clients that you want to reach.   Get involved with an event sponsored by a local business or business association and send press releases to your targeted media outlets.  Remember to make follow-up phone calls and create an opportunity to develop relationships with the media along with the participating business owners.

3.   Network face to face  and meet people.  Approach new contacts with the mindset of helping them to achieve their objectives by making introductions and sharing information.  Your generosity can pay off in referrals,  no doubt to new clients and possibly new industries.

4.   Collaborate  with complementary businesses to broaden or deepen your professional reach and get introduced to new clients or industries.

5.   Volunteer  for a cause that resonates with you or join the local Rotary Club.  Your network of professional relationships will increase,  others will see your expertise in action as you apply your talents to various projects and referrals may eventually come your way,  giving you entrée to new clients and industries.

Thanks for reading,

Kim

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Keep Your Competitors Closer

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Freelancers get business by three methods:

1). Proposals, ideally submitted by invitation and not “cold”

2.) Referrals, made on our behalf  by a source the client trusts

3). Reputation, meaning repeat business from our client roster

The most successful Freelancers skillfully promote the urban legend that we provide exceptional services, solutions and expertise that clients can absolutely depend upon. That perception creates trust and  gives our clients the confidence to bring us in when a project is approved for outsourcing.  Your client is convinced that when you are on the scene, an excellent job will be done and with a  minimum of fuss.  You will make them look good.

Competitive intelligence will provide important building blocks for your story.  One must periodically assess the strengths and weaknesses of  major competitors:  compare and contrast products and services offered, observe how they market themselves,  make note of selling points that are emphasized  and learn how you stack up.  It helps us to look from “outside in”  at how our services and business practices might be perceived by clients.

Analyze and benchmark

  • Compare your services to those of competitors:  what do they do sufficiently well that  motivates clients to hire them?
  • What do they do incompletely or perhaps poorly?
  • Who is on their client roster and which are their target markets?
  • Who are the front runners among your competitors and how did they get there?
  • What relationships and/or competitive advantages do they leverage to get business?
  • What is showcased on their websites and in other marketing materials?
  • Where do they advertise?
  • Does an internet search bring up good PR or anything noteworthy?
  • With whom do they collaborate or partner?

Define your competitive advantages

  • Catalogue what you do that clients  value
  • What services do you offer that your competitors do not and what value do your clients place on those services?
  • Audit your customer groups—have you ignored a possible niche market?
  • What relationships might you leverage to give you the edge when submitting  bids and obtaining referrals?

Create the spin

  • What common themes do you see in the marketing messages of your competitors? What do the front runners say to clients?
  • Where do you see yourself as offering the better value proposition? How can you most effectively communicate that to clients?
  • How can you  retool your message to highlight services or buzzwords that grab the clients? Reflect those in your marketing materials, advertisements and on your website.  Incorporate into your elevator pitch and sales talking points.
  • Build a PR campaign around an event that features you—a speaking engagement,  a workshop you will present, the relaunch of a service.  Send out press releases and follow up with phone calls.  Develop relationships with the business press by taking the right person to lunch or coffee and talk over ways to get your name mentioned.
  • Advertise,  however modestly,  in publications that your target audience follows.  Advertisements should lead to editorial,  however brief,  being written about you.
  • Cultivate relationships within the industries that you service,  either directly with those who may hire you,  or with those who can influence decision makers.

Keeping an occasional eye on competitors will yield many benefits.  Competitive intelligence  keeps us in the loop about which clients are hiring and the demand for workers within our field,  keeps us abreast of the activities of our professional peers,  makes benchmarking possible and helps us to sell our services more effectively.  Competitors help us to sharpen and clarify our approach to business.  They make us better.

Competitors need not be sworn enemies, despite the adversarial position that must be assumed when vying for market share.  Competitors have much to teach us about doing business.  In fact,  judiciously cooperating with competitors is good business.  There may even be occasions when competitors will collaborate.  Frenemy is perhaps the best way to describe the ideal relationship to our competitors.  Use them as you strategize to grow your client list.

Thanks for reading,

Kim

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For a Few Dollars More: Up-selling and Second Helpings

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Business has been rather soft for the past several quarters,  thanks to the tanking you-know-what and alas,  the sales girls at Saks and Neiman’s have not seen me for a while. When cash was in hand,  I built up quite the wardrobe.   I shopped prodigiously and wisely and my outfits still look good (thank you Donna Karan!).

Now when I look for something to wear to a meeting or party,  I must shop in my closet.  Lately,  I’ve been thinking of ways to apply that practice to my business.  How can I wring more action out of what I already have in-house?

In terms of resources expended and conversion rates,  maximizing business opportunities within one’s client roster is easier and more cost-effective.  I pretty much know what my clients want from me.  Still,  I wonder if there are ways to up-sell or entice with additional services? I wonder if I might have opportunities within other departments in an organization?

To figure it out,  I did some low cost market research.  As usual,  the best way to learn what clients need is to directly ask them.  Inviting  a  client to lunch or coffee,  away from workplace distractions,  sets the stage for a productive  exchange of information.

A good conversation opener is to inquire about new initiatives and/or challenges  in the client’s organization.  Ask next what you might adjust re: delivery of services,  service offerings and business practices that will make things easier for your client.  From there,  review the full list of your services.  Clients often will not remember all that you do.  This information alone may inspire your client to envision new roles for you,  perhaps even in those coveted other departments in the organization.

Guide the conversation to become  a  brainstorming session that will reveal where,  when and by whom value-added up-sells would be appreciated.  Arrange introductions to decision makers and obtain important endorsements of your work.  Learn the names and titles of gatekeepers and key influencers.

Client needs fall into two buckets:  anticipated and unanticipated.  The former needs are what you and your client will discuss over lunch.  You may be able to propose how your services can address some of these needs.  They are organizational goals and objectives and have a budget and timetable attached.

The latter needs require good  luck and timing on your part.  Maintaining communication will improve your odds of hitting the jackpot.  These client needs are ad hoc and often spring up suddenly.  They may constitute  a headache,  if not an emergency,  and they sometimes must be quickly addressed.

Position yourself to be at top-of-mind and viewed as the go-to problem solver by:

1). Meeting or exceeding client expectations every time.

2). Creating follow-up opportunities that are not perceived as either desperate or  annoying.

Some Freelancers like to keep a calendar,  so that they will remember to contact clients at regularly scheduled intervals,  sometimes with a newsletter.  The receipt of relevant information is usually welcome,  but my advice is to tread lightly.  Many vendors may be competing for your client’s attention in various ways and saturation point will eventually be reached.  Respect boundaries at all times.

My standard approach is to announce a new workshop to clients,  whether or not I expect them to buy.  Someone could surprise me! Client needs evolve in response to changes in the business environment,  as do yours and mine.  What was brushed off last year may be important now.

Sending news of a workshop is a  “safe” way to contact clients.  It violates no boundaries;  it demonstrates my expertise;  and it will get my name into their prefrontal cortex,  so that if an unanticipated need arises or unexpected money is dropped into their budget,  I”ll be more likely to receive an email.

A clever and indirect method of client contact is to make a referral.  You will receive  significant validation when that third party contacts your client and lets them know that you made the recommendation.

Maintaining contact with clients post-assignment is an effective strategy to mine additional revenue from your client list.  For $20.00 or less,  you can  invite your client  to update you on anticipated needs and learn about  new organization  priorities,  concerns,  fresh business opportunities for you and the decision makers and influencers who control access,  plus get advice on how to improve your business practices and hone your competitive edge.  Additionally,  you will learn how to craft a sales pitch based on selling points that you will emphasize when promoting those same services to similar clients,  new or current.

To attract revenue from unanticipated client needs,  devise unobtrusive ways to maintain the contact by offering value to the client.  Announce  new services,  speaking engagements or classes;  send a newsletter if you dare;  make strategic referrals;  maybe send links to articles that you know will be of special interest.  Make it a point to extract more sweet water from the well.

Thanks for reading,

Kim