When we meet with a new client, we get them to fill out a questionnaire which asks them what their major concerns are in their business. What is the most common answer, you ask? Not getting enough traffic ‘in the door’. Unfortunately, one of the common reasons that 8/10 small businesses fail is their lack of strong lead generation strategies. Almost every business owner we speak with is looking for more new leads. And there’s a good reason for this: the bigger your list of leads, the more opportunities there are to convert into sales for your business.
So how long does your search party for more leads need to go for? You will be pleased with what I tell you next… you can call it off! Our clients are always left gobsmacked once they realise the simplicity of increasing the number of leads in their business.
Now, there are roughly 84 different lead generation strategies, but if you start with these four you will most definitely be able to generate enough leads to keep your business growing.
Being absolutely free of charge whilst providing amazing results, referrals from existing customers is a strategy not to miss. Every existing customer is a walking, talking testimonial! And considering that in today’s world, one of the major factors that deter or encourage someone to buy from you are the reviews that are shared face to face or written online, having your customers share a positive review of your business is imperative to generate more leads. An easy way to do this is by making a habit of collecting testimonials and reviews and using them on your website and other marketing materials. This is a great investment in the future of your business, because repeat customers mean repeat business – so this lead generation strategy has an exponential effect.
Strong Online Presence
Over the past decade, there has been a noticeable shift in buyer behaviour with our access to the internet becoming much more efficient and reliable. These days, 60% of the buying decision is made before someone will pick up the phone and speak with a sales person. If you have a strong online presence, you will consistently find new customers at a higher rate than your competitors who don’t.
Understand Target Marketing & Customer Acquisition Costs
Do you look at your marketing as an expense or an investment? Good marketing which gains new customers is most definitely an investment. With that mindset, you will be able to develop a more targeted marketing plan, allowing you to market specifically to your niche. This brings good customers to any business far more effectively than broad-based marketing. Test and measure different strategies then invest the money to “buy” more customers at an acceptable acquisition cost.
Using Strategic Alliances
Need a new database of your target market? Why not exchange yours with another business?! One of the greatest resources for generating leads for your business is other businesses. A strategic alliance allows you to sell your product/service to your target market, by using a database from another business that sells a different product/service. Make connections, and find new customers!
Start by making small improvements in the 4 lead generating strategies above and you will notice a dramatic difference in your sales funnel. Keep developing these tools and you are sure to generate enough leads to get your business soaring!
If you want to generate more leads in your business, let us teach you more strategies that are just right for your business. Click here or call us on 9146 4439 to organise a coffee with one of our coaches!
Now that you have a clear idea of where to start with your lead generation, I want to share with you a few helpful strategies on how to convert these leads into clients. But I will leave that for my next blog. For now…
“…You can’t hit a target if you don’t know what it is”