How to Generate More Business in 2022

Welcome to 2022! For business owners, New Year’s resolutions that usually stick often revolve around generating more business. How can that be done? What are some important, though simple, reminders that will help realize that goal? Mr. John E. Dustin, President of J.E.D. Insurance & Financial Services Agency, Inc., in Foxborough, Massachusetts, offers three potent suggestions.

The first is to create and sustain a brand for yourself. By creating a unique culture internally, the brand is its outward manifestation and how existing clients and potential new clients distinguish you from a competitor.

The second suggestion goes further. It forces the business owner to think about why customers seek out your services. “What is your value proposition? What feature of your service is what clients find attractive? Are your clients coming back to you because your pricing structure is less expensive than others in your industry? Do you offer full value service?” What is your firm’s secret sauce? John asks.

“When a service provider acts as a consultative person, they can help their clients solve problems, even if they aren’t their own,” John explains. “By being collaborative with other professionals, you’ll become a trusted advisor.” This particular suggestion resonates enormously with John himself. Citing an example in his own business, if a client wants a particular type of insurance, to protect against cyber liability exposure, they already know that they are exposed. But to what extent? John provides the policy, but before that document is finalized, he will make an introduction to a reputable IT company, who must first be brought in to assess the level of existing exposure and conduct risk assessment. “Or, if I’m working with a client who is in the middle of a partnership squabble, I’ll bring in a lawyer who specializes in that area of law,” he explains. Part of being a trusted advisor is to tap into your own sphere of influence, and this is a clear by-product of value proposition. Help the clients remain solvent and elevate their business!

The third suggestion is to stay visible. “It's so hard right now to stay in front of people. It's very competitive. People are using infomercials and webinars. But it's important to stay in front of your key resources and people who provide business referrals to you,” John advises. Even though staying visible takes time and persistence, it’s also imperative that a business owner latch onto an authentic means to execute this approach. While social media hosts the onslaught of webinars and other dedicated means of promoting one’s business, a savvy business owner who takes their brand and culture seriously, will continue to comport themselves in a way that is true to their image. If webinars are beyond the business owner’s comfort zone, such discomfort will show. However, perhaps writing a weekly or monthly blog might better support their image, and might even be more conducive to the type of service they offer. Sometimes trying a new way of outreach is beneficial; but not if it’s going to be to the detriment of a company’s brand, just to satisfy the need to stay visible.

John lists a few more, traditional points a business owner needs to keep in mind when looking to generate more business. Marketing 101 focuses on S.W.O.T. (strength, weaknesses, opportunities, and threats). “Never take these for granted,” he admonishes. “It’s a great exercise to analyze this every year. Changes in the market demand that a business reviews who it thinks its competitors are. Ask yourself, who is your real competition?” It may not be your neighbor, but rather a new business model.

Additionally, he recommends taking a closer look at processes, internally and externally. Can an in-house practice be managed more efficiently, maybe by a newer technology, for instance, making a task less time-consuming for employees? What about on behalf of clients? Have any of them commented in the past about an issue or concern? If so, the beginning of the year, when the long-term goal is to generate more business, it might be a suitable time to look into that, and again, increase a company’s value proposition. “Have processes in place and review these. Think about how you do things. If these work, do not divert from them. Think about your brand. Think about the value add you offer,” John summarizes.

So, getting 2022 off to a good start, it’s paramount to give thoughtful consideration to the suggestions noted above. “There's a lot of competition. There's a lot of money out there. Check your position, keep your position. But,” John emphasizes, “Check your position.” - Copywritten by Boston Edits, LLC.

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