Lead generation is the buzz word at most businesses nowadays as it leads to increased traffic on the company website, better sales and results in bigger conversion rates. When you have an effective lead generation strategy, you are developing a focused channel for every prospective buyer to find what you are offering and see what sets you apart from similar businesses in the market today. The goal is to convert a lead into a client, and the chances rise exponentially when you have a solid strategy in place for grabbing their attention and convincing them that your solution is a truly unique one. If you haven’t gone down this path yet, here are the top signs that your business would benefit from lead generation:
#1. Infrequent Sales Meetings Schedule
When you start noticing the gaps in your sales calendar, that’s a warning sign that your brand needs to be re-looked at, along with your outreach strategy. The aim should be to fill up the calendar with sales opportunities such as networking invites and appointments with potential leads. Don’t be complacent with the number of clients you have. Instead, look for ways to expand your prospects via face to face meetings, cold calls, pre-qualifying leads and more. If you require support with setting up appointments, hire the extra help or bring in an external vendor to serve as the appointment setter – remember, it’s a long-term investment that is sure to pay off.
#2. You Aren’t Connecting with Decision Makers
Sometimes, when trying to develop a relationship with a prospective client, you are not tapping into the actual decision makers involved. For instance, when a prospect orders your brand of office supplies but isn’t part of the decision makers, i.e. senior staff at the company who would decide to engage with the brand over time. While this is the most common scenario, engaging with key influencers can accelerate the sales process significantly – this is where lead generation would be beneficial. Sometimes, such individuals are uncertain about engaging their manager or a decision maker because they do not have all the information they need or aren’t sure that your product or service will address their real issue.
#3. Budget of The Prospect is a Mismatch
Understanding whether a lead is qualified is tough to predict without an initial conversation. However, budget can be a good indicator of whether the product or service you will provide can pique the customer’s interest. If your service costs $20,000 and the potential client envisioned a total spending of around $15,000, then it will be hard to change their mind. One way to avoid such instances is by clarifying these points on the website and in advertising across online as well as offline channels. Having flexible plans to accommodate target customers will further encourage them to invest in your offerings.
#4. Your Customers Are Not Happy
If your customers are unsatisfied or disappointed with what they are getting, you should be aware of that and immediately take steps to ensure that such negative experiences are minimized. This is only possible if you have set up a system to regularly monitor the customer experience, whether it’s via surveys or calls. Acting fast is very important before there is any serious damage to your company’s reputation. A way to measure if your customer’s expectations are being met or even exceeded, is that your sales numbers will hike substantially, and they will be more open to recommending the brand to immediate networks.
#5. You Aren’t Getting the Big Deals
While deals of any scale are vital to keep your business running, it’s only the big ones that you can leverage to secure your company’s financial health and make a name for yourself in the market. The returns are also bigger compared to smaller deals. You need to assess your sales and marketing strategy closely, to understand whether additional lead generation support may help bridge the gap between annual targets and current operations.
#6. Not Putting Enough Value in Your Customers
What distinguishes the big players from the smaller ones? They are extremely skilled at managing customer relationships to their own advantage. No matter which stage your business may be at, build strong connections with your client base and your success rate will increase significantly. If you invest in lead generation, you will be storing personal information from customers for easy access when you need it, such as at the time of closing the deal.
#7. When Your Prospects Have Moved On
There are several cases where a prospect becomes inactive or is lost to competitors. When you see this happen more and more, it’s a worrying indication that you need to focus on lead generation, either by hiring skilled expertise or shuffling responsibilities in your existing team. Before doing that, it’s vital to assess why the prospect discontinues their relationship with your brand – is it because they are having trouble using your solution? Do they think it’s too expensive compared to other alternatives? Marketo observes that nurtured leads have a higher chance of making big purchases, while 50% are not even ready to make their purchase decision.
#8. Lacking Creative Ways to Acquire New Leads and Prospects
Don’t just stop at happy customers. Take the time to invest in following up on them once in a while. The existing pool of clients are a great source of improving your business based on market demand. For instance, you can take stock of your customer relations by asking for honest feedback or whether they would be open to referring your product/service to others. Referrals are an important yet often undermined source of new business, and people are more likely to make a purchase when they hear of the brand via a trusted source like a friend or colleague.
#9. You Ignore Opportunities for Collaboration
Many businesses get wrapped up in the idea that they have to succeed alone. A smart way to make progress is by building alliances that are strategic and well-planned to gain traction and become more successful in the market. Exchanging information with partner businesses and expanding your network through secondary connections also signals to customers that you want to help them get the product or service they are interested in.
#10. You Are Unprepared for More Customers
The infrastructure must be in place for a seamless sales process, when you attract target customers by a larger margin. This means making the effort to know their motivations and tastes, so you recognize the products and services they may be interested to purchase. Tracking their information closely will help a great deal in this regard, especially if you sign up for lead generation to grow your business swiftly.
Lead generation can be a gamble but it is one of the most convenient ways to increase the return on investment. Just like any advertising campaign you set up for the business, take a shot at lead generation by setting aside a decent budget for a trial period. When all is said and done, it requires a robust sales and marketing strategy to convert leads into sales. Diversifying the lead generation services is the best way to go about this, so you can understand which techniques are most helpful regarding good quality lead generation.