Many businesses survive on the lifeblood of new leads. If you truly want to grow, you must keep the clients you have while adding new ones on a regular basis. You might feel unsure about where to start, though. Perhaps you’ve tried gaining leads in the past and not had much success.
Research indicates 80 percent of new leads don’t result in sales for companies. Growing the number of leads is simple, but you must also focus on your sales funnel once they enter the buyer’s journey. Even if only 20 percent of your new connections convert, you can see a decent return on money spent. Be aware of your averages.
No matter what type of business you own, the process of growing leads looks similar. The difference is in the messaging and how well you entice them to go from lead to customer. Here are the key points to keep in mind as you grow revenue.
6 Ways to Improve Your Lead Generation
1. Know Your Target Audience.
In order to find new leads, you must understand who you’re targeting and why. Think about your current customers and what they have in common. Do a deep dive into your database and analyze their demographics and psychographics.
Think about the pain points your audience faces. What is the problem driving them to seek your solution? Are there any emotions behind the issue? For example, someone looking for a new security system may want to keep their family safe. The emotions driving them are love and fear.
Once you have an idea of what your typical customer is like, go ahead and make a buyer persona. All your advertising and marketing efforts must zone in on your persona and reach them on an emotional level.
2. Understand Your Average Contract Value (ACV).
Make sure you know how much the average new lead is worth.