Who wants more customers, revenue and profit?
Lead Generation and Conversion
I think pretty much every business wants more customers, revenue and profit.
How is your business consistently doing the work to grow these 3 areas?
To get more customers it is looking at increasing leads and conversion of leads. If you aren’t creating leads you have nothing to convert. Knowing your leads and conversion rate is really powerful, it allows you to monitor the cost of any campaign as you will know that x amount of leads will convert at x% creating £x revenue giving you £x profit.
You get more revenue by converting sales and by cultivating the lifetime value of existing customers (when did you last let your current clients know of all your others services and products).
For profit, do you know your profit margin – can you grow it and what do you need to do to put an armed guard around it. To protect it you may need to look at how you are closing/negotiating.
Where are you at with your lead generation?
Where is your lead generation at right now? Be honest and get clear on how things are and as the leader how you feel about that.
- Where are your leads coming from?
- How many leads are you attracting?
- How many are you converting?
- Is that enough?
The excuses and reasons
Have an open and honest discussion even just with yourself about what is going well, and not so well.
- Are you hitting your goals?
- Are you lacking resources (money, time, team, skills and knowledge)?
- Is your business just not doing enough outreach?
- Where is your resource to do more?
Where are you too comfortable with the excuses; to clarify, where are you accepting that you are not good in an area (and happy with all the excuses you trot out). Is there an opportunity to flip this around.
For example, how can you consistently bring new leads into your business? If conversion of leads is low, what are your conversion tactics? Could we ask the question, what would be the ideal approach to converting leads, are you skipping an all important step in the current journey a prospect takes with you from curiousity to closing that answering this question will uncover.
Lets take a quick look at who you serve, your proposition to your market and the results you get.
What is the world you operate in?
Do you have a clear identity of who your ideal core client is, when did you last have a good look at actually who is buying from you – are they the market you want or do you need to spread your net and think if there is maybe a better market out there.
Where do your current core clients come from, can you pinpoint a sector, size or business type, how they found you, what they were looking for.
Do you have databases? When did you last contact them and are you consistently growing your connections?
How do you show up?
Depending on how up to date your current web and social media platforms are will obviously dictate how much information you can get from these 2 areas. But analysis of this data will give you insight into how visitors interact with your sites: The most popular topics, where they have come from, where they drop off and their general behaviour towards your online content.
Is there a particular behaviour you can map that leads exhibit when they convert to sales? Do they initiate a quote, view certain pages, interact with certain content, have indepth sales talks, take up introductory offers?
Who is you website talking to and what journey are you asking people to take?
Social media will also give you information on what is being discussed in your industry, what is hot and what is not, the problems your ideal core client are talking about etc. And crucial to creating great content that connects is that it will also give you insight into the language used, what the most popular platforms are and how they use them and where they hang out.
How are you perceived?
How do you show up in the world to your market? How do your ideal core clients or your current clients perceive you?
How do your customers rate your price – it is generally one of 2 things, either you aren’t charging enough or you are not giving enough!
What resources have you got to invest ?
There is no point building a top drawer plan but not putting in place the resource to implement it so it is important to look at where you at with your team, time and money now and what could be immediately made available to.
If you are ready to go further I have written a short blog here https://yourleadgeneration.co.uk/getting-into-lead-generation-action/ on the key areas to get clear on to get into action.