GENERATING LEADS WITH HIGH PROFIT POTENTIAL & GREAT NET INCOME
WORKING THROUGH STEP ONE OF THE
FIVE PROFIT BUILDING ELEMENTS
“WE OFFER PRODUCTS AND SERVICES WITH THE HIGHEST POSSIBLE PROFIT AND NET INCOME POTENTIAL – TO OUR SPECIFICALLY TARGETED MARKET CONSISTING OF THE MOST PROBABLE BUYERS.”
To have a viable business venture – this must be one of your forever goals.
BUT…Who are your best buyers (we’ll refer to customers or clients as buyers in this document)? What do they want? What problems are they trying to solve or what do they wish to accomplish?
Do you know how many and/or what kind of leads you need to be most profitable in your business activities? Or what about what a buyer is worth to you? To know this, you need to build a measurable funnel that attracts the leads you most want, pre- qualifies them into prospects, converts them into buyers and then continues to sell to them.
You need to measure your conversions and understand how much a new or existing buyer is worth to you by monitoring their number of transactions over time and average amount of income per sale. From there you will be able to forecast your future revenue, profit margins and gross profit and can set up plans to attract more of the best leads, the leads that produce scalable growth.
To generate high profit potential leads with great net worth value, and to keep doing that, you must be courageous, smart and ruthlessly consistent.
To get there and to stay there you must get some things straight.
#1 THING TO GET STRAIGHT: Never make the mistake of confusing buyer pain point (purchasing motivation) with product or service utility.
If your business sells office furniture, the pain-point you are trying to solve for your potential buyers is not providing good sitting equipment for office goers. They want that of course but, it is not the big reason for them buying from YOU. You need to investigate, to go deep into the reasons why your past buyers have purchased from you instead of the other places from which they could have bought their furniture. Their reason for buying from you matters a whole lot. This reason you need to clarify and then use it your marketing.
POSSIBLE REASONS: Do you offer customized cushioning for buyers? 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 buyers? Identify these points – these are the real pain-points that your previous customers were facing. It is this that you must accurately understand if your lead generation is to grow expediently.
#2 THING TO GET STRAIGHT: YOU MUST BECOME UNIQUE AND SPECIAL AT THE THING YOU DO BEST – AND BECOME WELL KNOWN FOR THAT.
So, what makes you unique and special and memorable? Why must you know this? Why to separate you and your business from other businesses like yours of course, so the best buyers will buy from you without not even consider buying anywhere else.
What make you unique? Answer this question you must.
What makes your business and your offerings special? Answer this question must too.
#3 THING TO GET STRAIGHT: Who most urgently wants your solution – the products and/or services you want to provide? You must know this too.
LET’S START WITH THE BASICS
WHAT IS A LEAD?
A lead is a person who has indicated interest in the products and/or services you provide. They have initiated a contact with you or, you have initiated a contact with them. One or the other. And either way, they have indicated some degree of interest in what you offer.
WHAT IS LEAD GENERATION?
Lead generation is the process of attracting and converting strangers and prospects into those leads as described above.
BUT YOU MUST TARGET THE BUYERS YOU MOST WANT, THOSE WITH HIGH PROFIT POTENTIAL AND GREAT NET INCOME AND GROWTH POTENTIAL.
So not just anyone will do. Otherwise, sure, you may be busy selling your stuff but, you may not make enough profit to stay in business.
WHAT’S THE TOTAL PROCESS?
It’s this: ATTRACT (the right buyers) – CONVERT – CLOSE – DELIGHT. Simple to say not so easy to do.
UNDERSTANDING THE BUYER’S JOURNEY.
There are 3 very basic stages a buyer will go through when investigating a solution for their specific problem or desired better situation.
Stage 1: Awareness – The buyer is made aware of a problem (example: reads an article about workouts for weight loss)
Stage 2: Discovery – The buyer begins to learn more about the problem and possible solutions (example: reviewing blogs, checking Yelp!, or following on social media)
Stage 3: Decision – The buyer engages with a business to begin making a decision (example: scheduling a consultation)
CREATE YOUR LEAD MAGNET OFFER.
A lead magnet is something you can use to attract your ideal buyers to your business and get them started in the awareness stage of the buyer’s journey.
A Lead Magnet can take many forms. An Elevator Pitch, an Offer That Cannot Be Refused, an advertised extreme LOW RISK offer, Testimonials, Demonstrations, etc.
SUMMARY SO FAR
To succeed at Lead Generation, pick the target audience you most want to attract. Hint: The ones with the most money to spend might be just the ones.
Decide how to go after them most effectively and most economically.
Design and test an offer you think will attract those you want. Quantify the results. And if your approach works to your satisfaction, then orchestrate it – present your offer that way every time, as long as it keeps producing desirable results for you.
FINALLY, YOU MUST KEEP SCORE.
You must track your lead generation and sales conversion activities. To help do this it is very handy to have a database or CRM (customer relationship management) system that has the capability of creating lists and campaigns to track the degree of success with your various marketing tactics.
Tracking your progress will allow you to determine where to most effectively spend your marketing time and money. Do more of what’s working and stop doing what’s not. Simple.
NOW IF YOU’D LIKE SOME HELP DOING ANY OF ALL OF THIS, YOU KNOW WHO TO CALL.