Sometimes, I like to think of the business world as I would of sports; entertaining, yes, but highly competitive, too. Which is why I still wonder why anyone would be into any business just for the profit.
Damn it! If you aren’t passionate about your business; if it has never given you those exciting adrenaline rush or thrill, you probably should have a rethink.
Successful business entrepreneurs understand the fundamental principle of the game of business – as having the capacity and willingness to develop and organize a business venture, as well as being prepared to manage any risks or ‘surprises’ in order to make profits.
So, you see, it takes a whole lot from you; requiring your mind, presence, and creativity – just like sports! Then, again we have another angle to it: Prospecting and Attraction Marketing.
Prospecting and Attraction Marketing are often mistaken, one for the other. But they are not the same. And, just in case, you’d like to know which of the two is better or more effective. The short answer is BOTH. Only that you’ve got to understand the rules of engagement; when to apply what, and how!
Prospecting is a somewhat ‘more direct’ approach that involves you, your staff or marketing team going all out, and talking to different people about your product, service or brand – including people you have a good rapport with, do business with or even complete strangers that you meet.
Prospecting activities may include any of the following:
Handing out flyers
Open invitation to your business
Basically, you’re taking a series of diligent and consistent actions to find the most suitable people – clients, customers, or business partners; who could just be the right fit for your business.
Unlike in prospecting where you, your staff or team go all out in search of results – suitable clients, or partners; in Attraction Marketing, the results come to you.
While both marketing techniques are arguably geared towards a similar goal – “having results,” the approach, nevertheless, aren’t the same.
They are as different as you fishing with some hook, and the fish jumping into your vessel or boat.
Attraction Marketing requires a more strategic approach where you create high-value content – blog post, video or audio clip that meets the need of your target audience, answer their question or offers free advice.
Your audience recognizes you as an expert in your field and knows to come back to your website when in need of a similar solution in the future, recommend your service or even contact you to order a product or service, or even partner.
Basically how "Attraction Marketing" is the marketing side of your business. If you are not actively prospecting and making connections, you are not growing your business.
While the downside with the Attraction Marketing approach, when compared to prospecting, is that the former takes a bit longer time to be developed and perfected. But in the end, it works like an auto-pilot, generating significant leads and sales on a consistent basis. It is also a very dependable approach for online businesses.
Prospecting, on the hand often requires your active/direct involvement on a continued and very consistent basis. But it does seem to work more effectively for direct-sales companies and businesses/brands that sell tangible products or services, especially when combined with Attraction Marketing.
The bottom-line, however, is that you’ve gotta understand the right proportion that works best for your business.
Need help deciding what next steps to take?
If you have any questions or need help determining what next steps to take towards your freelance/online business. You’re welcome to contact me and have fun learning all the fundamentals that go into running a successful business, online. Cheers!