Why Time Investment In New Business Is Essential

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When it comes to new business, it can be easy to overlook the amount of time it takes to win new customers. Often, we forget the commitments we have to make towards new business to ensure that we're successful, no matter how we go about pursuing it. However, by focusing only on the short-term and adopting unrealistic expectations surrounding the sales process, we can often be doing ourselves - and our businesses - a disservice.

If you're looking to win new customers and grow your business, here is why it's essential to expect to invest and commit your time:

Time Investment Is Essential, No Matter Which Method You Choose:

New business always requires either an investment or a commitment of time.

There's no getting away from the fact that new business always requires either an investment or a commitment of time. This is true no matter which method you choose to generate new business - whether hiring a salesperson, buying data, or joining the Qimtek membership.

For instance, if you're hiring a salesperson, you need to commit time towards interviewing candidates to find someone who is a good fit for your business. Further to this, you will then need to commit to employing them on a long-term basis, as well as providing them with the training they need to be able to sell your services effectively. Buying data also requires an investment of time, as the data will need to be cleaned before it is ready for use. This can often prove to be quite a drawn-out process, as each company will need to be called and the contact information confirmed before the sales process can begin.

Likewise, Qimtek membership also requires a commitment to our 12 month minimum terms. However, unlike other sales methods, we can guarantee that you will receive live subcontract engineering enquiries consistently throughout your membership period, complete with drawings and contact details. In addition, we can also guarantee that you will receive online promotion and advertising, as well as as much support as you need.

READ: Is Qimtek Membership Right For You?

New Business Is About More Than Short-Term Results:

It's essential that you build both a short and long-term pipeline of prospects.

In order to succeed in new business, it's essential that you build both a short and long-term pipeline of prospects. While it's always great when an order lands on your desk the day after you send your quote, this isn't always a realistic way of approaching new business and leaves little room for long-term planning. This is why it's important to recognise that longer-term business opportunities are just as valuable - and are often more abundant.

It also pays to remember that buyers often need to establish a level of rapport with you before placing their business in your hands. From a buyer's perspective, working with a new supplier can be a bit of risk, as they do not know you well enough to guarantee that you'll complete the work in accordance with their expectations. Therefore, you may have to speak to the same buyer a number of times to build trust, instead of expecting the order to arrive straight away.

READ: The Number of Quotes It REALLY Takes To Win a New Customer

It Takes Time To Find the Right Customers For You:

Not every new customer is going to be a good fit for your business.

Just as buyers don't want to work with suppliers who can't provide a high level of service, suppliers are entitled to be equally as particular about the customers they pursue. Not every new customer is going to be a good fit for your business - for instance, perhaps they routinely expect an unsustainable price or an extremely fast turnaround. If you don't take the time to find the right customers, then you may find yourself run ragged as you try to keep up with their demands.

It's also important to bear in mind that working with unsuitable companies will rarely lead to longer-term relationships that help your business to grow. Our most successful members cherry-pick the enquiries and buyers that they are most interested in working with. Once they've completed a smaller introductory job, the buyer often goes on to place larger projects with them directly.

READ: How To Keep Your Customers Happy

Why Commit To Qimtek Membership For 12 Months?

We understand that it can be daunting to commit to a 12 month membership; however, there are plenty of reasons why we have a 12 month minimum term. If you're considering joining as a Qimtek member, then here are some of the reasons why our minimum terms actually serve to benefit you:

  • Over a twelve month period, Qimtek membership is still substantially cheaper than other forms of new business. A salesperson commands a salary, commission and expenses, with no guarantee that any leads will be generated. For engineering companies who are growing, Qimtek is the perfect solution - we can guarantee a steady stream of live, qualified engineering enquiries, with drawings, buyer contact details and an invitation to quote directly, for a fraction of the cost. Engineering companies who already have a salesperson in place also use our service successfully, as Qimtek membership saves them the time it takes to generate enquiries themselves.
  • Qimtek membership provides flexibility and a safety net over a period of 12 months. Although it is unlikely that you will use the service actively all year round, you can let the enquiries accumulate during busier times, meaning that you'll have a bank of projects to return to when you next have capacity. Some of our members cherry-pick the enquiries they want to quote on and others dedicate blocks of time to quoting a number of new projects - the way that you use the membership is completely up to you.
  • New business is always an essential part of running and growing a successful business, no matter what the current health climate. Throughout 2020 and into 2021, we have supported our members through three national lockdowns and have continued to generate hundreds of subcontract engineering enquiries for them to quote. 
  • Although new business always requires a time investment, Qimtek membership is actually designed to save our members the time it takes to generate enquiries themselves. By handling this part of the sales process on behalf of our members, we remove much of the required time investment and provide a targeted sales approach, meaning that you'll be dealing with buyers who are actively looking for your services every time.
  • Qimtek membership gives you the tools you need to generate both short and long-term business opportunities that exceed the 12 month term. This is because many of our buyers will use us to test the water with new suppliers, before awarding larger jobs to them directly. Meanwhile, buyers will also submit shorter-term projects that you can use to fill capacity as and when it arises. Therefore, Qimtek membership can be used in a variety of ways depending on your business needs and goals.

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If you would like to discuss Qimtek membership in more detail, then please don't hesitate to get in touch! We are more than happy to answer any questions you may have, or provide you with a no-obligation demo of the membership and the sales platform. Call us on 01256 394 500, or email us at sales@qimtek.co.uk for more information.