NEW CONTRACTS PRESS RELEASES
Companies frequently announce when they win a large contract. Contracts typically mean growth for these companies and contracts are often for extended periods of time. In many cases, these contracts are awarded from government agencies to private companies. They are often for services to be performed over a period of time and/ or for a specific number of units of a product to be produced. These are not large military contracts; these are contracts for basic products and services. The companies announcing these contracts may be new to you.
First, ask yourself what the company does and determine whether it’s a good target for the Ormita service.
Then, ask yourself what the company will need in order to perform the services stated in the contract. Sometimes the specifications for materials and sub-contractors are already locked down as part of the contract; other times there’s more flexibility. The contract winner may also experience growth in its business as a result of winning the contract. This may lead to additional sales opportunities for products and services to support that growth.
RELOCATION ANNOUNCEMENTS
Companies frequently announce when they win a large contract. When a company moves, much more than its location changes. Why is it moving? Does it need more space? Less? Is it moving across town or to a completely new area? You’ll find sales opportunities exist well beyond moving and storage services.
If the company is moving to larger space, growth is anticipated. This means it may need everything from desks and computers to telephones and office supplies. Perhaps the opportunity will come in six months, but the company’s move to a larger space tells you those needs exist now or will exist soon.
Recruiting services are also a logical need for a company moving to new space. Whether you sell recruitment advertising, placement, recruiting, or temporary staffing, it may be an opportunity for you.
An office move can also trigger a huge infrastructure upgrade in many cases. Even if you know there is an entrenched supplier, a move event is the perfect time to make contact. Perhaps the current supplier will be inconvenient in the new location or can’t competitively handle the new project.
Moves can be announced in local newspapers, as part of local news articles or stories, in public filing documentation, or through press releases.
PRODUCT LAUNCH PRESS RELEASES
Companies often announce new products and updates to existing products via a press release. These companies may be new to you. Plus, there is a compelling event at the company which will likely create sales opportunities.
First, ask yourself what the company does and determine whether it’s a good target for Ormita’s service.
Then, ask yourself what the new product means for the company. Sales opportunities supporting a product launch include, but are not limited to, marketing services, advertising services, direct mail, printing, and list procurement. Additionally, growth opportunities created by the product launch may lead to needs for other services.
NEW EXECUTIVES
New executives joining companies create tremendous sales opportunities within their functional areas. A new executive hire is a threat to current product and service providers, and an opportunity for new providers. Typically, the new executive is excited about making changes and the company is prepared to support the new spending for those changes.
For example, a new Vice President of Sales may be very receptive to new sales training program ideas. Or, a new Human Resource Director may plan to start outsourcing certain recruiting functions. A company normally does not invest the time and energy in hiring a new executive without also making a commitment and/ or having the desire for that functional area to grow and expand. This means budget dollars will be allocated to the functional area, and subsequently invested through purchases (translating into sales for some).
New executive hires are defined as an executive who is new to the company. A person promoted from within the company to a new executive role does not necessarily create as many new sales opportunities.
Companies often announce new executive hires with a press release, in local newspapers (usually the business section - often on Mondays in the larger metropolitan cities), on city or region websites (see tip #15), and in trade publications.
LOCAL DEVELOPMENT PROJECTS
A development project could be a new housing community, shopping center, office park, or mixed-use complex. Often these projects are announced in the very early stages in an effort to attract tenants. Development projects create spending clusters -- groups of consumers and businesses that will spend money in the area of the project.
By the time the project is advertised, most opportunities for construction contractors and construction-related activities are likely fulfilled.
Additional sales opportunities exist for all types of products and services, so you need to make your product or service known within the spending cluster. First, contact the developer and ask how it’s helping new tenants find services. Second, network in the area. Find (or start) a networking breakfast meeting for new business tenants. Third, visit the area often and look for opportunities to introduce yourself to the community.
Sales opportunities typically exist for printing, cleaning, delivery, landscaping, moving, storage, service repair, and design/ decorating.
Development projects are advertised in the business and real estate sections of local newspapers, or check the websites for local city or county planning boards.
COMPANY CARS AND TRUCKS
Company cars and trucks are all around town, and once you become aware and look for them, you’ll be amazed by how many you see each day.
You’ll see vehicles simply advertising the company, and you’ll see working vehicles like delivery trucks, equipment vans, etc. Ask yourself what the company does and what it means if it has company vehicles.
A company vehicle may mean different insurance requirements, maintenance business, leasing opportunities for future vehicles, and mobile access needs.
VENTURE CAPITAL INVESTMENT PRESS RELEASES
Search for press releases from companies in your area that announce a recent investment in the company. These companies have just reached an incredibly important milestone. Raising venture capital money is difficult, and it should mean that the company is poised for significant growth. Not all investments lead to a company going public; but for your purposes, these are terrific companies to target.
A company with venture capital funding is a company with money in the bank and a need to invest/ spend that money in order to expand the company’s operations.
Sales opportunities may exist in nearly every area. Read the press release carefully to identify the likely opportunities. Generally, the press release will give some indication of how the company plans to invest the money. For example, it might state funds may be used for sales and marketing, product development, capital equipment, etc.
BUILDING DIRECTORIES
If you visit a building and begin making cold calls to its tenants with little to no positive reception, consider this two-step approach to working a building...
First, choose the building, confidently walk straight into it, and go to the elevator area. Then, go to the top floor. Walk the floor with a sense of purpose and simply write down the names of the companies you see there. Take the elevator down to the next floor and do it again. You’ll look up the companies on the web later, and get more useful information without the risk of being thrown out of the building. (Sometimes stairwells are locked from the stairs side, so take the elevator, if you can. Otherwise you may find yourself walking all the way to the ground floor to get out.)
Second, on your way out, stop by the building’s directory and scan to see if you missed anyone.
Identify one building a week in your area, and work it to make sure you’re aware of every company in your target market and territory.
LOCAL NEWSLETTERS
Several local markets with a high population of technology-related companies publish daily email newsletters with updates and news about companies in the area. These newsletters are a terrific source of information on small and new companies.
LOCAL REGION FOCUSED WEBSITES & ONLINE DIRECTORIES
Nearly all major metropolitan cities have at least one website focused on the metropolitan area. This is a terrific source to identify local companies and their events.
Remember, these events tell you what types of activities these companies are doing, and then you can identify sales opportunities.
BUSINESS INFORMATION WEBSITES
Extensive (and free) information on thousands of public and private companies is available through several different websites. Each offers a basic profile and gives you a quick overview of what the company does, contact details, competitive landscape, and the names of key people.
e.g. Kompass.com.au
NEWSPAPER “WEEKEND” SECTION
Many local newspapers publish on Friday, a weekend section that covers entertainment, shopping, festivals, etc., that will take place over the weekend. The articles, calendar of events, and event descriptions will help you in two ways to find new business that organize these functions.
First, it’s a source for finding companies you may not know. Contact information is often included, so it will be easy to call or visit these companies.
Second, you can learn about some of a company’s needs based on what the company is promoting. If it’s a show, you can expect it may need printing services in the future. If it’s an open house, you can expect it may need advertising and promotional services in the future.
As always, ask yourself what the company does, and what it needs based on the event.
PROVIDER REVIEWS
Publishers, online and offline, often print product and service reviews as part of their publications. These reviews are intended to provide readers with information to help them make an informed buying decision for a product or service.
As a part of these reviews, the publisher will often profile the leading providers of a product or service. This may be presented as a “top 10” list or it may mention the companies in the reviews.
Conduct web searches for reviews of products and services your current customers provide.
FREE PUBLICATIONS
Some industry publications (e.g., magazines, newsletters, e-newsletters, etc.) are circulated for free to “qualified recipients.” Qualified recipients are people who identify themselves as meeting a certain set of demographics. These are the demographics that the advertisers in the publication seek to reach with their marketing messages.
Trade or vertical publications typically contain articles by or about your competitors, prospects and/ or customers. Articles often are case studies about how ABC Company successfully used XYZ’s product or service.
Study these publications and the articles for potential customer names, contact information for decision makers, and competitors.
Identify these publications in your industry or vertical, and sign up to receive them. A quick industry search on any Internet search engine or an industry association website should point you in the right direction.
CHAMBER OF COMMERCE / LOCAL BUSINESS GROUPS
If you’re a small business, you may promote your products and services with the SBA. You may also research and respond to contracting opportunities that are appropriate for small businesses.
You should also contact your local or regional SBA office to learn what opportunities it offers. Some offices may provide email notification of opportunities as they become available.
There are many local networking groups you can join. These networking groups often list their meetings (usually breakfast meetings) in the Monday business section of the local newspaper.
The groups can be organized around a of variety themes. Some may be for people in a certain industry, while others might be based on businesses in a certain part of town.
Join the networking groups, attend their meetings, and create an awareness among this group for Ormita’s service offering.
ECONOMIC DEVELOPMENT PROGRAMS
States, cities and counties (and often multiple localities together) operate economic development programs of all types. These programs can range from educational seminars and trade missions to loans and tax credits, or any variety of activities designed to nurture small business growth in the locality.
Research the programs available in your territories. Visit their websites. You’ll often find a directory or list of companies in the area.
TRADE SHOW DIRECTORIES
Ask your members at which trade shows they are likely to exhibit. Or, spend some time looking at your existing customer base, and identify the different industry groups to which your customers belong. You may find you have several clients in one industry. Then, research the trade shows that serve those industries. Most trade show websites allow you to search by both city and industry.
Once you’ve identified the trade shows, then visit the event sponsor’s website. The website should provide a list of past and planned exhibitors.
Contact the companies that are exhibitors. They may have needs for your products and services similar to your current customers. In many cases, these companies may be direct competitors of your customers.
BUSINESS INCUBATORS
Many cities and counties have created incubator programs or operate incubator office buildings. Typically, these programs and buildings provide services to small, often technology-oriented companies. The cities and counties are hoping to benefit from the future tax dollars these companies will generate for the locality.
Identify the incubator programs or buildings in your area. Generally, you’ll find a directory of companies when you visit the website or visit in person.
Remember, these are generally smaller companies that may have smaller budgets and fewer needs for services. However, you can benefit from their future growth by starting your relationship with them early.
CRAFT SHOWS, BIZARRES, FESTIVALS
Festivals are terrific places to find companies. Two ways to do this…
First, you can attend the event and get to know some of these companies so you can better understand their needs. Use it as a networking event, but respect their time and never interfere with their reason for being there, which is to find and serve their customers.
Second, obtain a copy of the event guide and contact these companies after the event.
These SOHOs (small office/ home office) or micro-businesses (typically defined as companies with 0-10 employees) can be great sales prospects for printing services, marketing and advertising products, shipping services, computers, credit card processing, and telecommunication needs.
These events are often advertised or listed in local newspapers and magazines.
Additionally, a web search using any of the words in the title above will point you in the right direction.
LOCAL EVENTS & SEMINARS
Local organizations often promote seminars, speakers and events. Most newspapers publish a calendar of local business events on Mondays.
Review these published events and attend those that may attract companies and/ or individuals that fit your customer profile. Many of these events may be free.
Also, remember to consider as a prospect the company that’s hosting the event. Research what it does, and consider why it’s hosting the seminar. If it’s a private company, the seminar is likely an effort to attract prospects. If it’s a local business organization, it may be trying to attract future members or to serve existing members.
What needs can you infer from the fact that it offers these events, and what sales opportunities are created? Advertising, lead generation, lead tracking, marketing communications, and sales training immediately come to mind.
ASSOCIATION MEETINGS
Association meetings are often listed in the calendar of events in the Monday business section of local newspapers, as well as on trade show websites, and in other trade publications specific to the industry. You can also look for an association or group of associations on any search engine, and then look in the “press” or “event” area of the association’s website for additional event details.
The meetings may not be good selling opportunities, but knowing who’s hosting and who’s attending is valuable.
You’ll find associations and conferences for almost any type of business activity. Identify those that appear to be the best match for your members products and services, and start attending.
PUBLIC SHOWS & EVENTS
Retailers, wholesalers, and industry groups often sponsor large public shows and events at local convention centers or similar properties. These are typically car shows, boat shows, home and garden shows, etc. Many are free; others may require an admission ticket.
The shows are designed for the exhibitors to sell their products and services. This is the reason many of these events are free. Ask yourself what the exhibiting companies do and who will be in attendance. Both exhibitors and attendees are potential prospects for those selling products and services that support the needs of these groups.
Evaluate a show by asking what other opportunities are created when someone attends a show.
For example, an end-of-summer boat show will attract boat companies as exhibitors and people interested in buying boats as attendees. All boat companies in attendance have a variety of business product and service needs. By attending the show, you may discover companies new to you. On the other side, the potential boat buyers (the attendees) may be in the market for an additional vehicle to haul the boat, boat insurance, financing options, or storage options.
Many shows are advertised in local newspapers and magazines, and on television, or can be found by searching local convention facilities’ websites (which can be found by searching online or in a phone book).
NEWSPAPER ARTICLES
Newspapers (and their websites) cover all aspects of the companies and the people that may be of interest to their subscribers. While businesses are typically covered in the business section of a newspaper, they are also mentioned in human interest and other stories that appear throughout the entire newspaper. For consumers or individuals, the reverse is true. While people are typically profiled in the lifestyle and local sections, they are also mentioned in the business sections.
If you sell locally, become an avid reader of your newspaper (or its website) - the entire newspaper. Look beyond the business section and read about the arts, entertainment, local business, politics, etc. You’ll discover the names of many companies and top decision makers at these companies, as well as the individuals in your community who may need your members product or service.
For example, a story about a charity fundraiser may mention the names of several local business people who are associated with the charity. What products or services does a busy executive need?
Or, a story about the development of a new shopping mall may focus on the negative impact the mall will have on traffic; however, you’ll likely find numerous retail companies mentioned, and quotes from the owners of these companies. What does this new mall mean to these companies? What types of sales opportunities will this create?
ONLINE NETWORKING SITES
If you’re connected to the Internet, then it’s easy to get connected to just about anyone, anywhere. Online networking sites like LinkedIn and Jigsaw can help you create a national network of business contacts. You can search for people by company, industry, interest or geographic area -- and once you’ve set up your profile, then people can find you, too.
So, put yourself out there by visiting…
TRADESHOWS
Many trade shows are often overlooked because most people search for trade shows that are directly related to what they do. Instead, ask yourself what types of companies and individuals will attend the trade show. What do they do, and what does it mean when they attend a trade show?
Most companies attend trade shows to find new customers. Pick up the trade show directory and gather business cards and literature. You can speak with the exhibitors, but never interfere with their primary reason for being there, which is to find new customers.
Consider the individuals attending a tradeshow, either behind the booth for a company or walking the floor as an attendee. These individuals are consumers, and you know they have a certain interest in the show’s topic. Attend the show, network and gather business cards. Visit the event website or the event management company’s website, and you’ll likely find a list of past or planned exhibitors.
For example, attend a trade show for customer relationship management software and services, and you’ll see sales & marketing people both in attendance and exhibiting. These people likely have a sales and service force, because they have an interest in CRM software. A sales trainer would benefit simply by attending and learning about companies with large sales forces.
Trade shows are often listed in the Monday business section of local newspapers (and their websites) and on any one of the websites that lists trade show events.
ASSOCIATION WEBSITES & DIRECTORIES
You’ll find associations for nearly every type of business or industry that you can imagine. Identify those associations to which your prospects and customers may belong. Associations know the value of their membership bases, large or small. It’s not easy to gain access to these members, and most associations don’t publish their membership directories for free, but many will sell their directories.
The American Society of Association Executives (the association for association managers) offers a list of thousands of associations searchable by name, location and industry. You can find it at http://www.asaenet.org/AssociationSearch.cfm.
If you work for a larger company, consider asking several people to join several different associations as individual members. The directories can be shared in the office among people selling in different territories.
You may find success in the group if you position yourself as the expert provider for your product or service, and become active in the association by taking on committee and leadership responsibilities.
YELLOW PAGES
We’re not talking about working through the yellow pages. The idea here is to use the yellow pages to identify professionals that may be part of a larger organization. Doctors, lawyers, CPAs, etc., may list themselves separately in the yellow pages, as well as with the name of the firm or practice to which they belong.
Identifying these individuals can help you reach high net worth individuals and professionals who value other professional services.
KEY DECISION MAKERS IN THE NEWS
Newspaper and magazine articles often quote key decision makers, either about their companies, industry trends, or community events. You’ll find the name, company and title, and then you can go to the company website (or one of the business information or list providers) to find the contact information. Depending on your territory, read local or national publications carefully to find these quotes.
You may also find it helpful to set up a Google News Alert, which will send articles related to your industry to your email inbox every day or just once a week. First, identify a list of terms associated with your product or service. Then search those terms at Google News. On the results page, in the left column, you’ll see a link for “News Alerts.” Simply click that link, and the next page will guide you through the set-up process.
EXPERT TESTIMONIALS
Seminar materials, company websites and brochures, and books often feature testimonials from key executives in well-known companies who can be valuable contacts for you. The people quoted are often mid-level managers and the hands-on people who attend industry events and work with customers and suppliers. These are people you want to know, but may not find mentioned on a company website. Sometimes they’ll be the final decision maker and other times they be an influencer.
Type the word “seminar” into any search engine (Google, Yahoo!, MSN, etc.) and you’ll find pages of companies offering professional and personal development seminars. Add an industry term and you can narrow your results. Then review seminar programs for topics that may interest your customers, and look for the “what our attendees say” section. You’ll find name, title and company, and then you can go to the company website to find the basic contact information (or one of the business information or list providers).
Review your competitors’ websites for testimonials as well. Review websites for companies that sell other products or services your customers need. You may find a testimonials section, or just a few quotes scattered on the homepage or throughout the site. Again, you’ll find name, title and company, and then you can go to the company website to find the basic contact information.
Go to a bookstore or library and locate industry-specific books that might interest your customers (you can search by topic on www.amazon.com to compile of list of titles before you go). Then review the covers and the first few pages for quotes. As before, you’ll find name, title and company, and then you can go to the company website to find the basic contact information.
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About Ormita
The Ormita Commerce Network spans 5 continents, with direct representation in more than 17 countries plus additional partnerships in a further 59 countries. The business allows companies to exchange goods and services on a reciprocal trade arrangement.
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