New Budgets Mean New Opportunities

  • by Pat
  • 11 Months ago
  • Comments Off
budget

Schools have budgets that begin in July. Some companies and organizations begin their fiscal year in October. And others use the standard calendar year as their beginning and end. Throughout the year there are opportunities to tap into those new budgets.

Consider who your target market is and investigate when they start their new year. For simplicity let’s say it’s January 1st. Starting a conversation and marketing to them in the fourth quarter can put you in the right place and time. Knowing that the new budget is coming and building the relationship before then puts you in front of the prospect as they are deciding where they will allocate those dollars.

It’s important to know what their plans and goals are. Then you can talk to them about how you might be able to help them achieve those plans and goals. So, what would that look like?

Let’s play it out. Company ABC starts their new fiscal year on January 1st. you meet with them in October of the previous year and go through a discovery process. That process includes questions about what their plans are for the new year. You are looking for the possibility that your product or service can be valuable to them in their plans. The information also helps you point them toward resources you already have trust in.

This relationship building is key. It ensures you are in front of them as they are making their spending decisions for their new year. It’s important for you to keep track of their schedule. Let’s say you start engaging with a company in January and they tell you they’ve already allocated all of their dollars for the product or service you provide.

Making a note of this will help you know when to reach out to them to explore the possibilities for the next year. In the meantime, you can be getting to know them and their business better. And you won’t be asking them about buying from you because you know they won’t. As you get closer to their planning period you can reach out and schedule a meeting.

It’s these kinds of decisions and plans that can give you an edge. If you’d like to improve your prospecting strategy, consider taking my free online prospecting course. You’ll learn 3 steps to creating your own impactful prospecting plan. Visit http://tinyurl.com/prospectingsteps.

Read New Budgets Mean New Opportunities and the other informative articles in this issue of Soar to Success magazine.

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