Most business owners assume that they must invest big dollar amounts in new marketing campaigns in order to increase their lead generation. However, there are some very easy, cost-effective ways to exponentially increase your leads.
Contact your existing customers: It is six times easier to sell to an existing customer than to sell a new customer. If you concentrate on and stay in contact with your existing customers, they are more likely to do more business with you. Think about new or complementary products that they may be interested in. Give them a call just to say hello and ask them how it is going. They will greatly appreciate your interest and will become your advocates.
1. Ask for referrals:
Your satisfied customers, happy employees and devoted friends/family will want you to succeed in your business endeavors. Ask them if they know of other like-minded customers who may be interested in your services. If you ask most people for help, they are usually willing to work with you. When asking for referrals, be specific with your associates.
- Identify a number of potential referral sources for the next year.
- Schedule a lunch/breakfast with each referral, each month.
- That will result in 12+ meetings and exponentially more new business contacts.
2. Cold Calling:
Want to know a quick and low-cost strategy that can generate massive results in your business, if practiced regularly? Simple techniques, like old-fashioned phone calls to suspects, warm leads or referrals, are usually used. The chief excuse of business owners for not using cold calling is lack of time. If you can’t (or won’t) do it, identify a resource within your team to handle this important task.
Discipline yourself to stop what you’re doing for five minutes a day, and make calls. Just two calls per hour, every business day, will yield hundreds of calls over a year. If you have a target list, you could place a call to each, once every quarter to let them know you’re there and you care! Remember, even if today they are buying what you’re selling from someone else, you can position yourself to be the second choice for when things change!
Focus on results, and set a daily goal; make calls until you reach the goal. This may be to get an appointment, sale or new referral (as appropriate.) In no time, this will become an effective habit/tool for growing your business. Once you’ve achieved your goal for the day, congratulate yourself and then go about doing the other tasks that confront you.
3. Deliver exceptional service every time:
This one is my personal favorite. I feel that if you are building a great service business, this should be your number one priority. Delivering exceptional service does 2 things for your business. The first thing it does is it guarantees that your current customer will be more than satisfied with their experience using your service. Exceeding the customers expectation will give you the confidence that your customer will be interested in continuing to work with you and your business. This is otherwise known as, the lifetime value of your customer.
Secondly, providing exceptional service will turn your current customer into a referral machine. Your customer will become an advocate for you and your business. So, if you have 200 satisfied customers that are advocates for your business, you now have 200 FREE sales reps. This is a very powerful strategy, especially for the small business owner who has a limited budget to grow his/her service business. I see this as a very organic way to grow your business. Executing this strategy will help your business grow at a pace that is healthy. Not to fast and not to slow. See Wednesdays post for more on growing your business organically.
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