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

Well, there's no one solution fits all here as it depends on your particular circumstances, your needs, your available budget and your aims and goals.

Here's a summary of the main points that I think you should consider:

Hiring a Freelance New Business Developer
Advantages
1.  Cost Effective - Typically charge less than agencies or in-house staff.
2.  Expertise - There are specialist freelancers for the creative, digital and marcoms industry (like me!) or freelancers that provide a more specific service such as lead generation only, email prospecting or contract and tendering support,etc.
3.  Flexibility - Usually much more flexible and adaptable in terms of days and hours required.

Disadvantages
1.  Limited capacity - Freelancers have limited availability so scaling up would be a challenge and it may not always be possible to quickly increase days and hours when they're fully booked. 
2.  Tools & resources - Likely to have less tech add-ons, huge databases and other tools they can plug into. 
3.  Relying on one person - If they're ill or require a pause for a period of time there's no one else in place to cover. 

Hiring a New Business Agency 
Advantages
1.  Expertise - There are specialist agencies for the creative, digital and marcoms industry who will understand where to look for suitable opportunities.
2.  Tools & resources - More likely to have access to tech add-ons, databases and other tools they can plug into. 
3.  Scalability - Capacity to scale up or down depending on your requirements and budget.

Disadvantages
1.  Costly - Agencies are usually expensive as they have greater overhead costs plus salaries and other expenses for multiple staff to cover.
2.  Communications & personnel changes - Where there are a number of people involved, who may also change from time to time, there maybe communication challenges.
3.  Attention & priority - Agencies are more likely to have numerous clients so may not provide the same level of attentiveness as other options.

Hiring someone in-house
Advantages
1.  Dedication - An employee will be fully focused on your business only so over time they can develop quite in-depth knowledge.
2.  Control - You will have direct day-to-day control over an employee and their work activities.
3.  Teamwork - If they are office or studio based they will have more face-to-face opportunity to easily discuss work or collaborate more closely with other members of staff. 

Disadvantages
1.  Higher Overhead Costs - Hiring and retaining staff can be expensive especially for smaller agencies as you have to factor in studio or office space, equipment, benefits and other expenses.
2.  Scalability - Increasing the size of your team can take time and be expensive which may not be feasible for short term requirements.
3.  Training & commitment - You may need to invest in training and development if there are gaps in their knowledge and capabilities.

To Conclude
If it's flexibility, cost effectiveness, specialism and expertise in your area, then a freelance New Business Developer is a more suitable alternative especially for smaller agencies - just call or email me!

But if volume and scalability are important, a New Business agency is likely to be a better but expensive solution as they will have the capacity to have a number of people working on your account.

Or if you require one person dedicated full-time on site to your agency only and have direct daily control over their work, then an in-house person is the best option.

It may be a combination of these options is an effective solution e.g. hiring a freelancer to support an in-house person or team.

So there you have it. Each option has it’s fors and againsts. ​Hope that helps your decision process. Do get in touch if you'd like to discuss.

Wishing you a Merry Christmas and a Wonderful Prosperous New Year! 🎄🎁🥳 
​Ilse