My thoughts here are based on my use of AI as a tool to assist with business development.

Like many of you I've been experimenting with ChatGPT (since Feb 2023), Google Gemini, Microsoft CoPilot and other CRM AI tools for some time now. 

Initially, I found them of limited help with business research and writing as they weren't really good enough or accurate for my work needs. Fast forward over two and a half years and its progress has been incredible. Now these tools have genuinely increased my productivity, sped up my research and quickened my understanding of whatever business queries I throw at it.

It's a bit like having some hyper intelligent, faceless, formless sci-fi character sat on my desk with an encyclopaedic knowledge of everything and anything or so it seems. Providing its sage like opinions and thoughts to whatever dilemma I'm facing. 

As a freelancer, one  of the downsides is not always having someone next to me to run through or bounce ideas, help with research and analysis, proofread my copy or just give another perspective on things.

But now I do. It never gets tired or busy, tetchy or bored and is always attentive and on standby for my next question. 

Where AI supports me:
- Proofreading and helping to polish up my initial drafts (ChatGPT my fave)
- Research and analysis (prefer Google Gemini)
- Brainstorming ideas
- Giving another perspective or angle I may have missed

Where it falls short:
- Tone of copy not me. Often seems a bit generic, American, AI produced or over polished. And have you noticed how fanatical it is with adding hyphen's into sentences everywhere.
- Information can sometimes be inaccurate or out of date
- Sometimes given too many similar options that may slow me down
- Very limited accuracy and help producing prospect lists - maybe 10-20 useable suggestions at best

But when it comes to outreach, the human relationship building core element of business development, that's where AI still falls short.

Handing over your entire outreach to AI will at best deliver something mediocre and at worst with what's now being called 'AI workslop'. It's dull, it's generic, it's so soulless that you end up having to redo it all, costing you more time and more money. 

AI output is only as good as the input provided by you and its sources of information. It doesn't create anything uniquely you nor replace the connection that only a human can bring to outreach efforts. It doesn't really understand all the sensitivities, subtleties or nuances that only a real, breathing human person would know. So it needs our oversight to amend, refine or reject its suggestions. 

Just like us it's not perfect but I've found it a useful tool that helps to improve my efficiency and augment output.

So, in answer to the question in my header: Yes, AI assists but it doesn't replace your entire new business outreach without missing something and human involvement is what will make your outreach work at it's best.

Some agencies really struggle with generating leads. It's frustrating and very disheartening when efforts yield little or no result 😔. All that time invested with nothing much to show can really demoralise some people to abandon their new business efforts altogether. After analysing why, here are the 10 most common lead generation mistakes I've come across and how to fix:

1. Not researching your target market
Impact - Wasting time and slowing up progress with prospects that aren't a good fit or lack the budget for your products or services. 

Remedy - Be selective and define who is the best client profile/s before approaching anyone. Read more in my previous blog. 
         
2. Not prospecting long enough to build up a pipeline 
Impact - Missing out on future opportunities and leads.

Remedy - Give it time! Sales timelines can vary and can typically take up to 6 months+ from that first interaction to securing a project, especially for high value jobs and contracts. Be patient and persistent.

3. Using staff who dislike prospecting
Impact - Square pegs in round holes problem. Poor performance will eat up time, delay your progress and reduce the quality of reach out.

Remedy - If you haven't got time or just can't handle your own New Business Development, hire or delegate it to someone who thrives on the challenge. A driven, persistent, goal orientated pro will yield better results than reluctant and unmotivated team members.

4. Lack of or poor quality data 
Impact - Wasting efforts on irrelevant prospects will really impede and slow up your pipeline progress again. 

Remedy - Jump start things by purchasing from an accredited list or data provider so you at least have suitable businesses to get going with (once you've worked out your client profile that is). For niche sectors, you may have to do your own manual research but the upfront effort will pay off when you target the right businesses. Read more in my previous blog.

5. No system of logging prospect interactions
Impact - Losing track of communications will result in missed opportunities. Your memory isn't usually reliable enough especially when you're busy, busy, busy!

Remedy - Use a good CRM system to log all interactions and stay organised. If your list is small, a simple spreadsheet can suffice.

6. Failing to nurture leads 
Impact - Leads that aren't followed up will slip away. Most prospects forget about you within 2-3 months even after a great conversation - it's disappointing but that's my experience.

Remedy - Many prospects will not be ready to buy immediately so it's important to periodically keep in touch to ensure nothing falls through the cracks.

7. Sending irrelevant generic intros 
Just don't! Please!
Impact - Impersonal messages are more likely to be ignored, unsubcribed, deleted or even worse forever blocked. 

Remedy - Personalise your emails and messages to show genuine effort to introduce yourself in a more human way is more likely to stand out, get interest and build rapport.  

8. Relying solely on one channel for lead generation
Impact - Limited reach. Over dependence on one method will make you vulnerable if that channel's effectiveness declines. 

Remedy - Diversify efforts and combine channels for reaching such as phone calls, emails, social media and marketing which is bound to increase your chances of results. 

9. Too focused on lead volume rather than lead quality 
Impact - Low conversion rates. Wasting time and resources with list/s padded out with low quality, unproductive junk will get very, very frustrating!

Remedy - Better definition of your ideal prospect. A smaller list of higher quality prospects will get better outcomes than a large, unfocused off target one.

10. Failing to pivot when results decline
Impact - Opportunities diminish, you stagnate or they dry up altogether.

Remedy - Monitor performance, be flexible and open to adapting as what worked well in the past may not work so well now. Businesses evolve, economic conditions change, demand fluctuates, finances constrict, requirements adjust, competition increases, etc.

Conclusion
Lead generation can be challenging but is essential for business so it needs to be a constantly humming activity. Persistence, adaptability and a well-thought-out strategy will help to achieve more fruitful results 😊.

If you need outside support handling your New Business Development and Lead Generation outreach give me a bell ☎ or send a message 📧.

Quick answer - if you need more work right now start prospecting immediately!

But you want to avoid reaching a state of panic scrambling for new clients as it can take 6-18 months from that first initial engagement with a prospect to secure your first job or convert them into an account. Therefore, it’s best to have regular new business activities running in the background to help smooth out any drops in demand.

Maintain regular communication activities
Keep in touch periodically with your prospective clients and cultivate relationships. Make your communications timely and respectful. If a prospect advises you to get back in touch at a particular time, make sure you follow through.

Build relationships
Consider the frequency of your communications carefully as contacting prospects too soon can make you appear bothersome, while waiting too long risks being forgotten. Aim for a balance that keeps you in mind but does not come across as intrusive or pestering. From my experience, most prospects forget about you within 2-3 months - even after a great conversation. Face-to-face meetings might extend their memory a bit, but regular follow-ups are important.

Find the right balance
Really, it’s regular, timely and well thought through prospecting that helps to ensure a more steady stream of opportunities to prevent sudden work shortages. By maintaining periodic communications without overstepping frequency, you can nurture lasting relationships and keep your business top-of mind for potential work.

If you and your staff don’t have the time to prospect, perhaps you should consider some outside support. So do request a chat with me.

Happy Summer Prospecting 😎
Ilse