Leads, Follow Up or Get Out of the Way

I have conversations daily with business owners from all sides of the industry and in most cases the conversation comes back to one question; "How can I get the most BANG for my buck?" A loaded question. I shoot back with an answer of "how hard are you willing to work?" Shrinking budgets are more common than colds these days and most business owners have simply become too grounded in old practices to remedy their own situation.

Many seasoned companies have more in the way of self help than they realize and the newer companies should take note of the following suggestions.

So, how can companies drive new revenue with the same old business? The first of many steps is to evaluate the hopefully, appropriately, logged database of leads. I say hopefully because I know there are some companies out there with 10 different spreadsheets with overlapping contacts. Going back to old leads can yield new life for your business. Here are some thoughts on how you can use old leads to DRIVE new business.

1) Reconnect - Many databases are filled with previous customers/clients that may or may not have done business with you. Fashion a creative message that positions your company in their life TODAY. This could be new products, new processes, new technology, or even new management. Whatever the "reason for reconnect" is you need to ping your list to let them know - "Hey were still doing business" or better yet "Hey were doing business BETTER"

2) Messaging - Lot's of companies are great at the product vomit. This is a horrendous spewing of product knowledge or sales messaging which turns even intrigued prospects into cold leads. Try changing your message to offer them some help. Here's a tough one, try not selling them anything at all. Think of this as a way of getting to know your target market again. Ask for feedback, take a poll, and start thinking of your customer/client as someone you need instead of the other way around.

3) Referral Incentives - Since you've probably had to let a few staff members go why not make your existing customers do some leg work for you. Be conscious of the fact you will have to incentivize them to make this work. For product companies this could be set up as a refer a friend drive; Drop 5 emails into this form for a chance to win a Driver, T-Shirt, Golf Balls - whatever you can part with. For service companies you should focus on some cost breaks. Like refer your friends to Golf Pulp and receive a 10% discount off your internet marketing solution! (C'mon I had to throw it in some time)

4) Up Sell - They have your product and hopefully they like it. Tell your leads how easy it is to step up to the next level. Once again, I would like to stress that you shouldn't blast your leads with a sales pitch but rather offer a solution. Be tactful, it will pay off in the end.

5) Patience - Not everyone is ready to purchase today! Some days NO ONE is ready to purchase. It is important to keep messaging consistent in order to form a "drip" campaign. This means you are doing enough to keep the leads from drying up but not drowning your leads with sales pitches. Your company should learn the best practices for frequency and customer touch programs. If you need advice on this contact me directly.

6) Lose Those Leads - Finally, evaluate the legitimacy of your leads. Do you have current contact information? Are you getting bounced email notifications? Have you reached a point where it is no longer a good use of your time to pursue a lead? Lose it. Get those contacts out of your list so you can make more efficient use of your time.

Remember your existing Leads. Follow Up or Get them Out of the Way if you think they will not convert to business.

Best of Luck

Ed Sanchez
ed@golfpulpmedia.com
www.golfpulpmedia.com