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5 Steps To Find Leads For Your Business

5 Steps To Find Leads For Your Business

Every book on sales management will teach you what is called the ‘sales funnel’. This is basically the list of stages a prospect is made to go through before they trust your business and show interest in your product or service. A typical sales funnel would broadly involve Lead generation → Introducing your business to the prospect → Make your prospect interested in your product → Convert the prospect into a customer. Of course, this is pretty simplified, but you should get the drift.

The problem a number of marketing managers grapple with is not the sales cycle – which is handled by the sales team – but in getting started on lead generation. How does one go about finding new leads for your business? Here is a step-by-step process to finding leads for your business.

Step 1 : Decide What Pain Your Business Solves

A lot of sales managers make the mistake of confusing pain point with product utility. If your business sells office furniture, the pain point you are trying to solve is not providing a good sitting equipment for office goers. Instead, you need to go deeper into the reasons why your past customers have purchased from you instead of the other shop at the other end of the street.

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Do you offer customized cushioning for customers in the central business district? Are your prices lower? Do you offer free maintenance? You might in fact be offering all these points above – but what was the point that sealed the deal for your past customers? Identify these points – these are the real pain-points that your previous customers were facing. It is this that you must solve.

Step 2 : Figure Out Where Prospects Who Face The Pain Seek Solution

So an IT company in the CBD is looking to purchase new desks for their workers. Who in the company is given the responsibility for making the purchase? What is the first thing they do to get started? Do they search on Google? Is there a trade magazine they look to for contacts? Do they outsource the job to a third party agency? The answer to these questions will tell you who to target – the purchasing manager, their boss, or the agency. If it is an agency, go through the above steps again to identify who in the agency you should be reaching out to.

Step 3 : Prepare A List Of Marketing Channels

Just because the target prospect uses a trade magazine to find furniture suppliers does not mean that it is the only channel to reach out to them. Popular marketing channels are often expensive to get through as well. So, if a particular trade magazine is the most popular advertising platform among furniture suppliers in your area, that is also the most expensive. It is, then, a good idea to prepare a list of other marketing channels. To do this, study the target prospect and map out their behavior.

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A purchasing manager at an IT firm is also likely to be talking to computer suppliers in your neighborhood. Would a cross-promotion deal with the popular computer suppliers work? Such purchasing managers are also likely to attend local industry meetups, so would attending such meetups yourself help? Understanding the behavioral patterns of your prospect is likely to give you a number of marketing channels to target.

Step 4 : Calculate Cost Benefit Analysis

Now that you have a list of marketing channels, you will need to know the return on investment in each of them. Do not forget to put a cost to the time spent as well. For instance, attending an industry meetup would cost you two hours – that’s two hours that could have been spent on any other marketing activity. Also, remember to take into account the recurrent income, if any.

In the case of a partnership with a local computer supplier, you may often be required to share a percent of your income with the supplier as commission. That’s potentially lost income, but you can well make up for this through repeat business that such a supplier would provide. Keeping all these different factors in mind, determine the cost of customer acquisition from these different marketing channels.

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Step 5 : Prioritize The Channels

Now that you have the marketing channels sorted by customer acquisition cost, do not get started immediately. Like your Economics professor always said, money in hand today is more valuable than money you may get tomorrow. Some channels are capable of bringing immediate business – a Google Adwords campaign for instance. Others, while seemingly profitable, may not yield immediate returns.

Industry meetups are a good example for such a marketing channel. So how do you tackle this? Pick the top 20% of your marketing channels sorted in increasing order of acquisition cost. Once you have them, sort them in descending order of immediacy of prospect acquisition.

There you have it – a list of strategies to acquire prospects along with the order in which you should deploy these strategies.

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Featured photo credit: http://www.corecapitalgroupdc.com/convert-online-real-estate-leads/ via corecapitalgroupdc.com

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Anand Srinivasan

Marketing Consultant

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Last Updated on February 15, 2019

How to Achieve Goals and Increase Your Chance of Success

How to Achieve Goals and Increase Your Chance of Success

Does it ever feel like the things you want to accomplish always end up on the back burner? If the answer to that question is “yes,” you’re not alone. Only about 33% of people consistently work toward their goals. In some cases, their goals may seem too lofty to accomplish, or else they aren’t sure how to make a plan for them.

If you don’t come up with concrete steps to take toward your goals, they’ll remain dreams. There’s nothing wrong with being a dreamer, but being able to turn your dreams into goals you can realize will help you lead a happier and more fulfilling life.

Luckily, you can realize almost any dream when you harness the right goal-setting methods.

In this article, I’ll show you how to achieve goals and get closer you success.

1. Break your dreams down into specific and measurable steps

We couldn’t talk about goal-setting without mentioning SMART goals.

SMART goals are specific, measurable, assignable, realistic, and time-related.

Specific and measurable steps are so important because if we don’t know what our target it, how can we ever hit it?

Take all those beautiful dreams you have for yourself and make them into things you can actually do. If you want to be an entrepreneur, for example, a step toward realizing your dream might be researching what you’ll need to start your business.

Find out more tips about utilizing SMART goals here:

How to Use SMART Goal to Become Highly Successful in Life

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2. Have at least one clearly defined goal for every interest and role in your life

It’s so easy to become complacent or stagnate. We often think that our careers are the only places where we need to set goals, but we aren’t only what we do.

To make the most of your life, take the approach that you’re always learning and growing in everything you do. Anything worth doing is worth doing well after all.

Set goals whether you’re sponsoring an activity for your child, taking up guitar lessons or trying to prove your worth at work.

You’ll notice that this approach forces you to constantly develop new skills. It can also be fulfilling to put more focus and value into all areas of your life— not just the ones related to our careers.

3. Align your goals with your life’s mission, purpose and passion

Take the opportunity to do some soul-searching. What is it that you want to do with this precious life of yours?

Anything that conflicts with your life’s purpose is bound to cause discontent. Staying in a bad relationship, doing a job that goes against your values, or maintaining the status quo just because it’s comfortable are not options for you.

Thinking about your goals in this way can help you eliminate things in your life that don’t serve you. This frees up mental space that you can use to do the things you care about the most.

Many of us struggle to find the time to work on our goals, but this strategy enables you to make more time.

4. Create goals that ignite your spirit and inspire you to take action

If you can’t be fired up about your goals from the start, they might not be good goals for you.

The road to success is often tough. You’re going to have times when you might feel tired or discouraged.

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You need to feel inspired enough that you’ll be able to overcome obstacles as you encounter them.

If what you’re doing motivates you to be the greatest version of yourself, you’ll be much more resilient.

5. Write down all your goals in specific, measurable detail

This is your road map for what success will look like. The more you define what you want the finished product to be, the greater the chance that you’ll reach that vision.

When you write down your goals, you’re creating a document that you can revisit to make sure you’re on track.

When you’re in the middle of trying to achieve a big goal, it can be hard to see what’s working for you. The things you write in this step will help you stay on-message as you take your goals out of your mind and into the real world.

Don’t just write down your goals and stash them away in a folder somewhere. Take the extra step to put them somewhere where you’ll see them.[1]

If you have too many goals to post on your desk, write a summary or choose one or two steps to work on for the day. Just seeing them will keep them in the front of your mind.

6. Commit to hitting each of your targets without exception

You wouldn’t have created the target if you didn’t think it was necessary. Hold yourself accountable for taking the steps to succeed.

You can always adapt your strategy or break your targets into smaller steps if you find that they aren’t attainable as you originally wrote them.

Hitting even the smallest target is cause for a celebration. It’s a step in the positive direction. Your success will make you crave more success.

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We often make excuses when we get tired or overwhelmed. Take away the option to make excuses. You will only be satisfied with the best effort from yourself.

7. Share your goals with others to motivate each other

There’s something so powerful about people sharing their goals and dreams with one another. Doing so gives voice to some part of us that could remain hidden (and therefore never be accomplished).

When other people know about your goals, they can cheer you on and hold you accountable. When people share their vision with you, you can do the same for them.

This strategy is particularly beneficial when you’re trying to develop healthy habits. Post about your workout on social media, or do a healthy eating challenge with your best friend. You’ll be less likely to slack when temptation arises, and you’ll probably encourage someone else to reach for their goals too.

8. Set a series of daily, weekly and long-term goals, complete with starting times and deadlines

Many goals never reach realization simply because the goal-setter doesn’t check their progress. People tend to forget what they set out to do, or their goal gets crowded out by other obligations.

Forcing yourself to revisit your goals at regular intervals breaks them into smaller steps and it reminds you to think about them.

Giving yourself regular deadlines for smaller tasks related to your goals also helps you reflect on your strategy. You’ll figure out what works for you, whether your timeline is realistic, and whether or not you need additional help to stay on track.

In addition, celebrating small wins helps you stay motivated. Here’s how:

How To Celebrate Small Wins To Achieve Big Goals

9. Take 10 minutes every day to imagine how great it will feel to achieve your goals

Visualization is such a powerful tool. Some of the most successful athletes, celebrities and business people take time each day to think about how success looks and feels for them.[2] Imagining that feeling of satisfaction can be a great motivator.

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When you do meet your goals, take some time to be grateful. Thank yourself for showing up and doing the work. Be grateful when the stars align properly to help you advance to the next step.

It’s not just getting to the destination of your goals that matters. How you take the journey is important too.

10. Take an action step toward reaching your goals every day

Your goals can easily get buried in the hustle and the bustle. Even the smallest step in the right direction is still moving you forward.

Keep chipping away at the work every day and before long, you’ll start to see those dreams come to life.

Maybe you didn’t start your business today but you designed the logo that’s going to go on your website and business cards. Doing that task well is going to help you so much in the long run.

Concrete actions day by day draw your dreams out of obscurity and into the realm of possibility.

The Bottom Line

Dreams can inspire and overwhelm us. By turning our dreams into goals that we can work toward, we increase our chances of success. Things that once seemed impossible are suddenly within reach.

It’s time to start turning your dreams into goals and your goals into realities. Change begins today.

More Resources About Setting & Achieving Goals

Featured photo credit: Andrew Neel via unsplash.com

Reference

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