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Of all of the phases in the sales cycle, none is more important than lead generation. There's simply no way to be a good salesman without knowing how to produce leads.
After all, you can't close a sale if you haven't pitched the product, and you can't pitch the product unless you have a prospect, and you won't get prospects worth pitching unless you have a steady flow of leads coming into your business -- it all starts there.
But it can be challenging to generate leads -- even the best companies struggle with it at times. If you are scratching your head on what you can do to turn things around, here's a breakdown of a few ways you can improve how you manage your leads and consequently increase your sales.
A sales lead refers to any individual or business who could become a client or customer of your company. Businesses and salespeople will often use marketing tactics such as placing ads, networking, bulk email, direct mail, purchasing phone lists for cold calls, or even content, to find leads.
The salesperson will then qualify the lead by asking questions designed to determine whether the lead has an interest in the product and the ability to purchase it. If all looks good, the lead is placed in the sales pipeline and the salesperson goes to work pitching the product to the lead and eventually attempting to close a sale.
Oftentimes, the terms lead and prospect are used interchangeably in the sales world, but they’re not the same. A sales lead is any unqualified contact who could become a customer, but you haven't done any of the qualifying work to determine if that's even a remote possibility.
A prospect is a lead who has been thoroughly vetted and determined to be a good candidate to attempt a sale. You might think of a lead as like a hypothesis or a hunch, and a prospect as more akin to a theory with scientific evidence.
It’s not uncommon for a business to hit a brick wall when it comes to leads. If you’re wondering how to generate leads in new ways, there are a few tried-and-true methods -- some of which you may have not thought of -- that you can use to boost the flow of leads into your business.
A referral is among the best business sales leads you can get, for a few reasons. For one thing, the lead is already qualified for you by the person doing the referring.
For another, it's a "warm" lead rather than a cold one -- you're able to introduce yourself by saying " suggested I contact you," which immediately breaks the ice.
And another advantage that might not immediately spring to mind: they're often cheaper to acquire than through other channels, both in terms of money and in terms of time. One report found that 78% of B2B sales companies say that referrals generate leads of good or excellent quality.
If you don’t have a referral program, you’re missing out on a lot of high quality leads. Here are a few steps you can take to get one up and running, and make it successful.
Closing a sale is all about building trust with a client -- particularly when you’re talking about B2B sales leads -- and there are few better first steps to doing that than meeting face-to-face.
By attending events and networking with potential customers there, you're not just some random phone number calling them -- you're a real human being with a face who has already broken the ice with that individual.
That goes a long way toward an eventual sale, and it will make it easy to secure that pivotal first sales pitch meeting.
Some people are natural marketers, and some are not. The good news is even if you aren’t, taking just a few actions will make a huge difference in the number of leads you get from networking.
Sometimes, the best way to get leads is to pay for them, and that's where advertising comes in. You have to be careful here, because while you can get great leads if you do it right, it's super easy to waste a lot of money on the wrong kind of advertising -- and waste a lot of time on the bad leads it brings in.
Advertising is one of the oldest and best ways to acquire new customers, so you’d be unwise to ignore it.
There’s a lot more to advertising than creating an ad and throwing money at it. Here are a couple of things you can do to dramatically increase your chances of success.
You need more than a website: you need a landing page that offers great content and uses tried-and-true search engine optimization (SEO) strategies to ensure they can find you via search engine even if you aren't advertising (free traffic is always a huge bonus).
By spending time creating quality content that your potential customers will care about, and using SEO best practices to give them a roadmap to you, you'll position yourself for success here.
Creating a great website is all about helping the potential client with information they will find useful, and then providing a way for them to find you through search engines.
Social media is mystifying for most businesses. How do you even begin to turn this mess of memes and random thoughts into something that has an impact on your sales process? How do you even get noticed?
But what you should realize is that it's not about getting tons of followers or going viral, it's about using it as another way to find and connect with leads.
Using social media wisely and profitably is all about having conversations, particularly through LinkedIn or Facebook groups where your clients are probably talking. Here are a few ways to do that effectively.
One exciting new way to generate leads that wasn't widely available just a few years ago is a live chat function. There's lots of live chat software out there that can add chat to your site, so that if a visitor to your website has a question as they're browsing, they can immediately submit that question to you through the chat.
It's an immediate warm connection that can pay dividends down the road.
Live chat can be super-effective for getting leads if you do it right. Here are a couple of ways to do that.
A good lead generation program is important not only because it results in more prospects, but also because it makes the prospecting process easier by ensuring you’re getting quality leads in the first place.
One way to improve the effectiveness of any new strategy you undertake is to acquire customer relationship management software.
In addition to offering prospecting tools, CRM software will help you organize your entire sales operation from the ground up, ensuring that your sales team is organized and using the right sales tactics to ensure maximum success so that once you get those leads, you can more efficiently turn them into sales.
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