This is the first of a series of five steps by which business owners can increase their gross revenue and their net profitability. Visit http://strategicvisionbusiness.com/blog to read the rest of the articles in this series.
Each and every one of my clients wants to grow their business. You want to grow your business, too—that’s why you’re reading this article. So allow me to ask you the same question I ask my clients: how do you generate your leads? Unfortunately, too many business owners can’t provide a clear answer to this question… because they don’t have a clear system in place. No, for many business owners, lead generation is something that happens irregularly and inconsistently. Leads may fall into their laps, but they are not consistently generated. If you want to grow your business, you need a clearly defined, consistently executed lead generation system. And you need to track your results so that you know what works and what doesn’t.
If you have never considered the creation of a lead generation system, the idea may sound overwhelming. If that’s the case, feel free to contact me. I can help you build a system that really works.
The first step in creating your system of lead generation is simply to brainstorm possible strategies. Networking is almost always an effective strategy. Pay Per Click advertising programs work well for many businesses. Others utilize direct mail campaigns to great effect. Sit down with your management team and create a thorough list of possible lead generation strategies.
Once you’ve created a list, the next step is identifying three or four of the most promising channels. Create a system to ensure that each channel is effectively utilized for at least four to six months. If networking is one of your tactics, make sure that you or your sales rep is consistently attending targeted functions. If Pay Per Click ads are a source of lead generation, make sure you are consistently running ads to your landing pages – and be sure to measure the results.
Finally, it’s critical that you track the effectiveness of each lead generation channel you use. Track the dollars you spend, track the raw number of leads you generate, and identify whether these leads are qualified or not. At the end of your trial period, you’ll have incredibly valuable data at your fingertips: not only will you know how many leads have been generated, but you will also know how much each lead costs.
Once you’ve identified the most effective strategies for lead generation, put systems in place to ensure that they continue to operate. I’ve seen this process in action many times—and the results are game-changing for most businesses.