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"9 1/2 Ways" is a column on how to reach, sell to and keep customers that appears bimonthly in the marketing newsletter Fuel, published by The Pohly Co. consulting firm. This month's author is California-based David Ward, who writes frequently about marketing, technology and the media for such publications as PR Week and Popular Science. He is a former correspondent for the London Daily Mail.
Technology continues to have a huge impact on the way business gets done, including how companies generate and act on promising sales leads. But instead of simplifying the process, the modern information age has actually made the gathering of quality leads even more difficult. "Prospects today are much more skeptical because they're bombarded with all types of information and offers," explains Bob Bly, author of The Lead Generation Handbook. "Response rates for promotions and offers have declined over the past 10 years." But as Fuel has learned, there are still ways for businesses to generate solid sales leads without breaking the bank.
1. Get on the same page. Make sure every employee understands what makes for a good sales lead. Then, establish a process that gets qualified leads into the hands of the right people. "The key is getting everyone to agree on the definition of a good lead," says Guy Maser, senior vice president of marketing with GlobalSpec, a leading B-to-B search engine based in Troy, N.Y. "If you give your salesperson anything that is not a hot or interested lead, you're basically handing them garbage that they can't act on."
2. Don't ask for too much too soon. The fastest way to turn off prospective leads is to ask them for too much information right off the bat. "Ask for the minimum amount of information you need so that the lead can be semiqualified. Someone else can e-mail them and take it the rest of the way," Bly says.
3. Learn from your success. Talking to your best customers not only can help you learn what you're doing right, it can also help you develop an ideal customer profile for generating new leads. "Asking your existing clients what positive impact you've had on their business will help you fine-tune your value proposition and develop the most relevant sales lead list possible," says Brian Carroll, author of Lead Generation for the Complex Sale.
4. Pitch the problem, not your product. "Many companies make the mistake of starting every pitch for leads with their product," Bly points out. "They fail to realize that the prospect doesn't care about your company or your product -- they only care about their own problems. So lead with that, and then note that your product is a good solution."
5. Act swiftly. A lead is only as good as your ability to respond with a sense of urgency. "You really want to hit a hot prospect with your best message as quickly as possible," Maser says. "If you don't, that lead will become your competitor's customer."
6. Diversify your approach. Whether it's a cold-call program, e-mail marketing, direct mail or a podcast, don't become overly reliant on one lead generation tactic. "People are always looking for the one killer tactic to give them all the leads they need," Carroll says. "Instead, you have to think of lead generation as a portfolio and use multiple tactics."
7. Give so you can get. In exchange for their personal information, give potential leads something of value -- a white paper or software tools, for example. "We live in an era where everyone wants more information," Bly says. "You can double the number of leads you generate by offering a bait piece, some kind of free content."
8. Don't buy what you can build. "There are plenty of lead generation firms selling lists they gather by setting up a Web site and then doing marketing or paid search to drive traffic to that page," explains Tino Buntic, president of Toronto-based Trade Pals, a free lead generation Web site. "You can do the exact same thing at a fraction of the cost. That way, you also know you're getting a list that hasn't been sold several times over."
9. Know when to hold 'em. Just because someone has little interest in your product now doesn't mean they're not a quality lead. "Not everyone is ready to buy," Carroll says. "So figure out ways to become a resource to people and help educate them until they're ready to make a decision."
½. Be consistent. Make sure you make lead generation a full-time priority and not just something to do when business slows. "Dig your well before you're thirsty," Carroll advises. "No matter how busy you are, be sure to make time to do personal lead generation activities."
To read more marketing insights, click here to read the Fuel blog.
POSTED BY: Ocha (July 15, 2007 11:28 PM)
I agree with #7, give to get. This is basic stuff. People like information so give them something they can use today. This will build credibility and soon you will have a new customer.
POSTED BY: Lori Feldman (September 03, 2007 04:44 PM)
Per #2: And only give one call to action per campaign. Too many choices confuse people. Confusion equals no action - The DatabaseDiva
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