They say that cash flow can make or break a business and this is very true, however, in order to get your cash flowing, you need to generate leads. Once you have those leads you then need to nurture and convert them into sales.
Lead generation is something that many companies struggle with. The Ketchup team have put their heads together to come up with a few tips on how to get your lead generation activity running smoothly; contributing to your cash flow, and the growth of your business.
- Make time for lead generation activities – whether you are a start-up or a well-established business with a mature client base, you need to carry out lead generation activities. Yes this takes time, but remember, you are doing this to ensure that your business survives. Make sure lead generation activities are happening in your business every day.
- Think about your lead generation and put together a strategy – when you are looking for and targeting prospects, you need to have a fair level of knowledge about:
- Who is most likely to need and buy your product or service
- How to contact them, who to contact, and through which channels
- What problem you are going to solve for this prospect – for example, at Ketchup we get results for your business through great marketing
- Don’t give up – unless your prospect comes back with a resounding no, as in we will never be interested in what you are offering, then keep in contact. They may not need what you are offering now, but they may need you in the future. You want to be the business your prospect thinks of when they are looking for the products and services you provide.
- Quality over quantity – this comes as a result of carrying out tip number 2. If you have profiled your ideal prospect and stuck to that profile when adding to your prospecting list, the leads you get should be of high quality, with a high chance of conversion to a customer. If you are finding that the interest in your business isn’t from people you want, you should probably sit down and review your lead generation strategy and prospecting list.
- Log, monitor, and measure – You need to know that your lead generation activities are working for you, no matter what channels you are using. You also need to manage the leads you have generated so that they move through your sales pipeline to become customers. Look at:
- The number of quality leads you are generating
- Which channels your leads are coming from
- The cost per lead generated
- Cost per customer generated
- The accuracy of your data
- The conversion percentage – i.e. how many leads turn into paying customers
- Continually look at and improve your lead generation process – Based on the information gathered on the number of leads, the costs involved, etc… how you could improve things? Always question your lead generation activity and the results being generated. If they’re not good enough, tweak things until you are getting the results you need.
- Don’t stop once you get busy – This goes hand in hand with making time for lead generation. You will need to be continually generating leads so that your business always has customers, new and existing, and cash coming in.
- Don’t forget your current customers – This is something that can’t be stressed enough, repeat custom is a sign of a successful business. By keeping in contact with your customers, offering them a great service, and saying thank you, you will have a flow of repeat business and happy customers who will recommend you to others.
- Referrals are important – One of the best ways to generate new leads is to encourage referrals from existing clients. Be sure to say thank you though, we send flowers or a bottle of red wine to people for each referral they give us.
Your lead generation activity and management should run like a well-oiled machine, by following the tips in this blog and having a great marketing team behind your business, you should never be short of qualified, high value leads. If you feel that you need more support with your marketing and lead generation activity give Michelle a call on 0330 088 9277 or use the contact form here.