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 it's been a rough few months for many and the prime minister said to expect the months ahead to be 'bumpy'. Therefore, it's reasonable to expect varying Covid restrictions to continue for at least another 6-12 months. For some sectors, e.g. the travel industry, it looks likely to need a vaccine or herd immunity to help them return to anywhere near norm.

Commercial trends and the big economic disruption is forcing through change.

As we now have a better understanding of the future, it's a good time to review your New Business strategy. Ask yourself:

• What's happened since lock-down?
• Where you are right now?
• Where are you most likely to be heading in the next 6-12 months if you continue without making any adjustments? Try to be objective and realistic of future expectations.
• Are you comfortable with those probable projections?

Yes? then good for you, carry on as planned. 

No? then it's time to consider a re-pivot.

It can be hard, bewildering or upsetting to accept that what worked well in the past is suddenly not working so well for you now. Try to stand back and evaluate your portfolio of work and the markets you've been servicing.

Some aspects to consider:

• How affected has your regular target market been by Covid?
• Are you typical prospects likely to get through the next 6-12 months without significant impact?
• Do you need to diversify?
• Is there anything more you can add or offer that opens you up to other sectors?
• Do you have any competitive advantages? 
• Do you need to ramp up your new business activities?

The above is some broad guidance to help work out the future. For my thoughts on your specific situation, get in touch.
​Ilse