Following the money trail makes good business sense.

The 1976 drama-documentary movie All the President’s Men which starred actors Dustin Hoffman and Robert Redford, uncover the details of the Watergate scandal that leads to President Nixon’s resignation.

While researching a story about a botched 1972 burglary of Democratic Party headquarters at the Watergate apartment complex, green Washington Post reporters/rivals Woodward (Robert Redford) and Bernstein (Dustin Hoffman) stumble on a possible connection between the burglars and a White House staffer. Woodward and Bernstein follow the money all the way to the top of the Nixon administration.

In B2B sales we have to follow the money trail as well. A key definer is to ensure the prospect has the budget to afford what you are selling – or there is little point in approaching them in the first place.

It is important to understand where your customers derive their income from and when.

Here are two examples:

Local councils

Local councils have a variety of sources of income. It is important to be aware when Councils have access to these funds so you know when they have the funds to buy.

Much of a council’s income comes from land and building rates. Each year, owners of property – including houses, farms and businesses – must pay rates to the council. Generally council rates are paid quarterly in February, May, August and November.

Another way local councils collect money is by charging a fee for their services. Usually, the charges will be used to pay for these services. Income for councils is also derived from dog license registrations, and fines paid to councils when people break council law. Councils also receive money from the state or federal government in the form of grants and subsidies.

Schools

Both government and private schools generally work to the standard June to July financial year. Term 2 is from 28^th April to 4^thJul. Generally it is good practice to target schools at least twice per term. The first campaign should go out at the beginning of week two and the second during mid term.

Schools acquire funds through school fetes, P&C, fund raisers and student fees in the case of private and catholic schools – as do early learning facilities .

Funding for Catholic schools is distributed through the Catholic systemic school authorities and private schools receive funding through various school authorities and agencies. The Schools Assistance Act also provides additional recurrent funding for Indigenous students in non‐government schools. Non‐government schools in remote areas also receive a higher rate of funding for indigenous students.

A-ZGovBIZ is a marketing services agency specialising in the Australian public sector. Their online search engine Discovery is the leading real time database available to reach government, health and education decision makers, buyers and specifiers.

Michael Bleakley

Michael Bleakley is a journalist, communicator and marketing professional of 25 years. His career began in his early 20’s publishing tech magazines for education. Michael’s career then moved into online and book publishing for a global business publisher, then finally into database publishing and marketing at A-ZGovBIZ.