Finding New Customers

Finding New Customers – The Fastest Way to Find New Customers

If you’re a startup, the fastest way to get the cash registers ringing is a little-used method that involves forming “host-beneficiary” relationships with established businesses that cater to a target audience similar to yours. Then you promote yourself to their database with a special offer presented as a gift from the older business.

The beauty of this arrangement is that the startup (the beneficiary) can instantly reach large numbers of highly qualified prospects with the tacit endorsement of the established business (the host). The host is willing to participate because it’s a way to reward loyal customers without incurring any costs. The rookie gains new customers, while the veteran gains goodwill.

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Six Steps to Success
Host-beneficiary marketing is actually a simple and relatively inexpensive process that will deliver solid results if you follow a few basic rules:

1. Precisely define your target audience. “Women 35 to 55″ might be a start, but it’s not enough. Create a detailed profile of your target customer. The more segments you can identify, the more potential hosts you can approach.

Some years ago, I overheard a debate between two friends about the name of a startup business. “It’s a good name,” said one friend to the other, “but I’m not sure it’s the best name.” You could say the same thing about the techniques typically used to attract customers to a new business. Traditional strategies like networking and mailings will do the job, but they won’t do the best job. If you’re a startup, the fastest way to get the cash registers ringing is a little-used method that involves forming “host-beneficiary” relationships with established businesses that cater to a [...]