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| Jul 20, 2006 5:59 pm |
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re: my Intro & Query !! |
| S C
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I would suggest you research thoroughly on your potential client before pitching. Get to know their business. That way, when asked that particular question, you can have an alternative answer without really giving a figure.
For instance, you can say "Given the industry you're in and the product/service you offer, acquiring the services of my company can increase your ability to compete by x%". Or, maybe you can say something like "Your competitors are currently enjoying a market share of x%. By acquiring the services of my company, you can increase your own market share by x% or take away x% of your competitors' market share." All they're asking for is you state the benefit they will get in quantifiable terms that they can relate to if they acquire your services.
If they really want a number, you have to tell them that you will need some figures coming from them to make a rough estimate. After which, you can give them a ballpark figure. Just make sure you can deliver on that promise or, at least, close to it.
As for word of mouth, you can gauge the effect by asking your potential clients how and where did they know of your company. I'm not much of a market researcher or statistician so I'm not sure if there's a formula or what that formula is. Usually, you can get this in relation to your own company by conducting a market research that would answer the effect of word of mouth on your company.
Hope that helps.
Best,
Sunny
http://www.marketingaddict.blogspot.comPrivate Reply to S C (new win) |
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