While success in real estate may be all about location, success in small business is all about connections. If you’d like to see your bottom line skyrocket like the price on a townhouse in Beacon Hill, you need to put your creative energy to work uncovering and developing revenue-generating relationships.

It’s easy to get started, so get out your brainstorming notebook and consider your target buyer’s "Who, When, Where, and How." As you mull over each area, think about how you can alter your offering to meet needs no one else has recognized – maybe in the way you package, price, or deliver.

Who

We begin with the basics. Who exactly is buying (or has the potential to buy) what it is that you are selling?

Is this person a consumer or is she buying as an employee of a firm? If the answer is “consumer," what factors play into the buying decision – can you identify social and emotional influences, such as those surrounding purchases tied to a wedding or the birth of a baby? And, what are the demographics of your ideal buyer – age, gender, income level, etc.?

If your buyer is purchasing on behalf of his company, what is his professional title? What role does he play and how much authority does he have? What factors influence his purchasing decisions?

Who all is involved that could influence the purchase? Is one person able to make the decision or is there a group that investigates, influences, and ultimately gives the final “okay”? Though it’s most efficient for you if one person has budget authority to sign off on your work, oftentimes relative price and the project’s importance will affect the number of people involved in the purchasing process. When dealing with group purchasers, you will want to identify those fulfilling key roles from gatekeeper to final decision-maker to actual buyer.

When

Next, delve into when it is that your buyers are most inclined to purchase or purchase more from you. Knowing this will help you plan your resource utilization and revenue stream, as well as help your marketing and promotional efforts.

Consider fully the situations in which a purchase is made. What is happening at the time in the life of your buyer or the business cycle of his firm? Are there certain times of year (annual or quarterly budget planning time, fiscal or calendar year end, tax season, prior to a key selling season, etc.) or special occasions (annual shareholders meetings, holiday promotions, marketing push for seasonal items, etc.) that increase demand? When selling to consumers, your best opportunities may fall around holidays, life milestones (i.e. birthdays, weddings, baby births, religious achievements), or life stages such as time to lose weight, need a pick-me-up, or looking for more in life.

When selling your goods and services to a business, find out who has responsibility for areas such as introducing new products or working with sales. When do they start on logos, ads, photography, copy, and the like? When do they present to major accounts and, before even that, the sales team (thus necessitating presentation slides, selling materials, and a promotional plan)?

Thinking outside the norm (and skirting the inappropriate) can also boost revenue. For example, realize that firms with big layoffs may have just fired their marketing and creative support – what better time for you to move in and convince them of the benefits of contract work and the value of what you do?

Where

Once you have a better feel for who is buying and when, look at where they are and where you can go to find them. Where do they hang out? Work? Commute? You need to find them because networking (a.k.a. "schmoozing") is the key to business development, particularly for small business owners and freelance artists.

If your business is centered on targeting a specific industry, go to their trade shows and industry events. Targeting consumers? Go to shows, fairs, and festivals, set up a table in a college union, or rent a kiosk at the mall.

When targeting a local area, be diligent about getting involved and making yourself visible in the community. Join groups, clubs, and trade associations. Heck, join the PTA if you know the meetings tend to attract your target audience or professional influencers. Give yourself a pat on the back for every contact you initiate, knowing that for each connection, you are increasing your business opportunities and probability for success.

How

Now that you have built up a fresh awareness of your target buyers, the final piece of this puzzle is to figure out how to reach them and ultimately get their business.

Like so many things in life, it generally comes down to how many resources (time, money, energy) you have to devote. Test the waters. Talk with colleagues. Mingle at industry events with the specific intent of finding out what has worked for others. Read creative trade journals that spend their own research and editorial dollars to help you better craft your message and reach your audience.

Get involved in your target buyer’s world and see what they see, go where they go, read what they read. You can put an ad in your local paper, but also consider specialty newsletters and web promotions. Advertising and direct mail are particularly effective for creatives because they offer a flexible vehicle for showcasing quality and talent.

Want to save on expenses? Focus on face-to-face connections, one relationship at a time. Build alliances with related, yet non-competing firms in which you each recommend the other to your existing and potential customer base. Think about your offering as one link in a chain of what a customer needs, then hook up with the other links for referrals or to offer package deals. It’s likely you already get business in this manner, just be keen to recognize the value and make an effort to expand and formalize more such relationships.

In a similar fashion, maximize your supplier relationships by turning them into partnerships that promote both sides. Set it up so your supplier benefits whenever you make a sale.

Start Connecting

So, your notebook should be pretty well marked up with the Who, When, Where, and How. Understanding your buyer’s influencers and specific needs will help you find unique ways to convey value and stand out from the crowd.

You are well on your way to building valuable connections and boosting your bottom line. It takes time and conviction, but these connections will pay off.

Have a creative business development idea? Email me!

© 2003 Jill Toole, M.B.A.

Illustrations © Von Glitschka. Available FREE for personal use.

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