In a perfect world, marketers have budget to simultaneously invest in short term pipeline building AND building awareness. But sometimes, you have limited budget and not enough revenue. You need more business now. Here are a few tactics to build your pipeline right away.
1. Start at the bottom. Invest whatever short term resources you have in the bottom of the pipeline–people who already have heard of your business and with whom you have a relationship. Long term awareness activities, designed to build your database, are not likely to fill the pipeline in the short term, although they can be critical to long term help. If you need business now, focus on converting those who already know you.
2. New Product/Same Customers Or Same Product/New Customers. But NOT "New/New". Over the long term, you may be working to transition from your current target audience via new products–but that is a long range, high investment strategy. Right now, you need revenue–so focus on what you know and can do well, right now. Provide some new value for your existing customers or reach out to new customers who could benefit from the services and products.
3. Partner up Wholesale your business through a partner who already has relationships with your key buyers. Give these partners a great deal, that incents them to offer your products and services to their clients, either as part of a bundle, or as a bonus.
4. Ask for the business. Pick up the phone. Call past customers. See what they need and how you can help. Ask them for referrals. These are activities you should be doing on a regular basis, but they often end up on the back burner. Now is the time to reach out.
5. Offer a special. Provide some value for free to your target audience–a webinar? an hour of consultation? a proof of concept?
Once you take some of the pressure off your business, by filling your pipeline, it becomes easier to justify investing in the long term health of your business.
