I am a manufacturing company whose main accounts are automotive but we have capabilities that suit other related industries like heavy equipment makers. We laid off our reps and need to find new revenue streams fast. Please help.
Answer from Scott Moss
No need to press the panic button, so slowly take a couple of steps back and have a seat. Assuming, if I may, that your automotive accounts are still quite pleased with your company, it's time to get some written and video testimonials from three of them. That's Step 1. For Step 2, write out a full description of your ideal customer (demographics, geographics, psychographics) in the heavy equipment manufacturing industry and then do the same for two additional industries to which your products have easy-to-understand application. By the way, that exercise should take only three hours and should involve key staff that can effectively inform the discussion. Step 3 is to compile a list of the companies (target ideal customers) that you will pursue including decision maker name, title, email, and phone. Step 4 is to draft an intro email that includes a customer testimonial, the value prop of your product to the target's company specifically, and a request for a Zoom call. Now, it's time for Step 5. Send the email using an email service provider (ESP) that provides data on opens, clicks, etc. Step 6 is the hardest but most important part. You now need to pick up the phone and call each target customer whose decision-maker opened the email and have a live conversation. Or, if you don't want to do any of that, email me for a consultation.