If you have a business, you’re looking for leads. In fact a large amount of your time will be in generating leads. It seems like it should be a simple process. You raise brand awareness and voila the customers roll in! I mean, your product is awesome, right? I’m sure it is. But not everyone needs your awesome product no matter how awesome it is. You don’t just need leads you need quality leads. And you need to know what to do with them once you’ve gotten them.
Strategies for Leads
A successful business has a solid strategy or system in place designed to generate new potential business clientele. Having a well thought out marketing campaign or program is essential. Managing your leads well means having control between your businesses outgoing advertising and the consumer response to that advertising.
Why Manage your Leads?
If you want to understand which marketing tactics are bringing in the best leads, you need lead management. We all seek to optimize our sales strategy for peek efficiency. Keeping track of interactions with your leads and their experiences with your company, gives you the fruitful opportunity to analyze precisely when and how a lead was generated in to a sale.
Just getting leads is not enough. You have to process them somehow. That means tracking and managing potential customers. You might have heard of this process referred to as customer acquisition management. The principles are generally the same. In either case you need to start by building brand awareness. Leads can be generated through internet campaigns like Facebook ads, blog posts, Google AdSense and events. When people respond to your ad campaigns through the internet this makes life a bit easier as it is a much more simple process of capturing their interests and recording their data. This will help you manage your leads and turn them in to sales.
Leads vs. Good Leads
There is a big difference between a lead and a quality lead. If you have done your job right thus far and gotten data on your leads then you should be able to filter them based on the likelihood of becoming a customer. The more work you do at the data mining stage, the easier it will be for you to organize and target your leads. It is obviously more effective to invest your time contacting 10 qualified leads than 30 unqualified ones. Now you can have a sales representative reach out to them. Being efficient up to this point means that you can contact your qualified leads quickly. This gives your business a leg up on the competition. Studies show that up to 50% of all leads will go with the first vendor that responds.
After the Sale
The next stage is called lead nurturing. That is basically what you will be doing. You want to make sure you mark whether the lead has been contacted in any way. It doesn’t matter if they have received a phone call or an email. All outreach efforts should be recorded. You should have a process in place for follow up attempts. You may consider organizing follow up campaigns.
After you start making sales it is time to calculate your return on investment. This is a crucial step in determining whether your campaigns are a success or not. You definitely don’t want to be spending more on advertising than you get back. This is also why it is so important to keep a detailed account on all of your leads and the sales they generate. Without doing this you can’t calculate your ROI.
At this point you may have ended with a sale. But that doesn’t mean your job is done. The internet has provided many wonderful opportunities to expand your business beyond the locality we were once confined. But word of mouth is still one of the best forms of advertising you can get. So you want to make sure you stay on their minds and keep that good impression going.