January 2, 2019
The capture of leads is regarded as an essential step in the sales cycle, but what are they really? Should you invest in them? The short answer is yes.
For anyone who’s been in the world of marketing for any extended period of time, the importance of leads is pretty clear and self-explanatory. However, for those outside of the trade, it may not be so obvious but fear not because we’re here to help you.
In order to steer your business in a successful direction, it’s vital that you both understand what leads are and how to generate them, and of course, how to effectively convert them into sales.
Knowing what makes up a lead is your first step. So, what’s a lead? Basically, a lead is an opportunity.
On more technical terms, any individual expressing interest in your product or the service you provide might be considered a lead or a prospect. Remember, reaching out to people is the first stage of promotion. But “leads” are called that for a reason: They need to be followed.
Summary of the Sales Cycle:
By itself, a lead is simply information, what you do with such data is what makes the difference between a sale and a fluke. Knowing what your potential customers are looking at is only half the battle, a very important one for sure, but it’s your skills and mindset as a salesperson that ultimately seal the deal.
Keep in mind that leads are not guaranteed money for your business, but even then, their power lies in the growth chance each one of them means; a satisfied client is a successfully converted lead, one who is not only prone to contacting you again for your services but also one who will tell their friends and family about your business in a positive light.
Moreover, it’s unwise to think of your leads as just names on a list. The possibility of striking a deal with a client is relative to how willing they are to commit in the first place, which is influenced by their own personal situation and what kind of feedback they are exposed to when weighing their options. The latter, in other words, means that you must “prepare” your leads.
But as a business would have it, not all leads are created equal. For meaningful lead generation, you need to know what kind of customer you’re dealing with and strategies accordingly to fulfill your final goal: Selling your products or services.
When it comes to lead generation, you should aim for both quantity and quality.
Quantity is an easy one, just think of a fair. You want to gather as many people as possible inside your metaphorical carousel of services, then spin your visitors through the benefits of your irresistible offer and finally release them at the end of the ride, where they’ll buy the ticket for the roller coaster or, in this case, your product or service.
Likewise, more visitors equals more tickets sold, right? Well, not quite; we need to rephrase that sentence. More happy visitors equals more tickets sold. This is where the process of conversion takes shape.
Following that chain of thought, you want your customers to enjoy your fair. But naturally, this is easier for some and harder for others. If your visitor is a young girl on a date with her new boyfriend, it’ll be a cinch to keep her smiling all day long. However, if your visitor is the guy that said girl rejected just a little while ago, you might have a tougher time cheering him up.
Translating this into sales language, there are varying levels of qualities for leads. A good lead is one willing to commit and with whom you can easily strike a deal of mutual satisfaction. Conversely, a bad lead is one who’s reluctant to submit to your offer, to the point of risking your own profit just trying to convince them.
Most of the time, this disparity is the inevitable result of a conflict of interest. Simply put, your business is not reaching out to your desired targets or the right audience. You need to raise awareness among those who can potentially be enticed by your promises – and then deliver on them, of course.
“Approach each customer with the idea of helping him or her solve a problem or achieve a goal, not of selling a product or service.” — Brian Tracy
There are many services dedicated to driving leads into your hands, but they don’t actually filter such traffic. A substantial amount of these leads are not viable pursuits, just because you may not possess what they’re looking for.
Some experts say you should stop negotiations if the first contact failed, while others argue that you should make an effort nurturing each and every lead you get until the end. Truth is, there is wisdom in both tactics, and a middle ground is the healthiest for your Return-On-Investment (ROI).
While in the process of suitable lead generation, it’s important to assess the quality of your leads, as to define how much time you can afford on them before they become a liability.
Nowadays, many businesses depend on external platforms to increase their stream of leads, services paid to sponsor your website. While effective in what it’s meant to do, this relationship is much like renting: Stop paying and you’re out.
But there is a better way. Instead of relying entirely on third parties to gain an online presence, you should strive towards lead independence. For this purpose, increasing your current traffic and generating higher-quality leads is one and the same. So how do you go about achieving such a feat in the current era? Let us explain – this is what Extreme Lead Generation is all about.
It’s imperative to understand how advertising works in the digital marketplace. You need to build a website that’s both visually and intellectually engaging, with informative content about the services of your company and their benefits; you must also optimize it applying relevant SEO strategies so your name comes up on top of search results for your desired region.
“Content is the fuel for your lead generation efforts.” — Dayna Rothman
Consider other contact routes like direct marketing and social media as well, all in favour of creating the best lead generation system and converting your callers into new customers.
People today have grown way too tired and busy to deal with traditional, obsolete trading practices; they want you to talk with them.
Here we need to apply is what we call sales psychology, understanding the mentality of your clients and giving them what they want to capture their attention – and their support if everything goes smoothly.
Interactive channels are on the rise as more entrepreneurs and online marketers acknowledge the power of conversational marketing.
Apps like Facebook Messenger are fantastic in this regard, allowing owners to reach out to their audience on a large scale with advertisement and then continue nurturing leads on a more personalised individual level.
Messenger even eases the process with business tools designed to maximise your chances of generating leads, like automatic greetings and instant customised replies that help your would-be customers obtain pertinent information about your products.
This is a simple yet surprisingly profitable addition to your marketing arsenal, you’ll be passively sorting your inquirers and increasing the number of qualified leads in your hands. Furthermore, you don’t have to discard everything else to incorporate this, everything should work together to boost your marketing possibilities.
“Make a customer, not a sale.” — Katherine Barchetti
It may be difficult, but applying these recommendations ensures you a stable, organic traffic flow that will push the growth of your business for as long as your platform is operating and being updated. Generating leads in this fashion is an investment rather than an expense.
By John Mackenzie – Founder & CEO of Staff Leverage, NT Digital and JohnMac Digital
Do you want to be successful? We know how you can be. For more information on the previous topics and deeper insight into the intricacies of efficient business, see the following articles.
Hello There, I’m John Mackenzie! CEO at Staff Leverage. An Australian visionary committed to change businesses all over the world.
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