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How to effectively generate leads2018-10-09T10:42:17+00:00

How to effectively generate leads

The first step in any sales process is lead generation. Establishing a target market and building a lead generation strategy is of crucial importance. In general, there are certain actions you can take to ensure you end up with qualified leads:

  • Develop SMART goals. Start with the end goal and work backwards, ensuring that your organisation’s goals are written down and that each goal is specific, measurable, attainable, realistic, and timely.

  • Create ideal buyer persona(s) to ensure that you can focus your sales efforts on generating high-quality sales leads.

    • Definition: An ideal buyer persona is a description of a fictitious organisation or individual which gets significant value from using your product/service, and also provides significant value to your company.

    • When creating your ideal buyer persona, you may want to consider what the industry, location, pain points, and current buying process is of this fictitious organisation or individual, and identify the right questions you’ll need to ask.

  • Study the competition and create a value proposition.

    • How does your product create value for customers, especially compared to your competitors’ products?

      • Identify your top competitors.

      • For each competitor, compare your product and their product’s features, prices, and ability to solve customers’ pain points.

      • Identify how your product uniquely solves customers’ pain points or provides value.

    • Once you’ve done your competitor analysis, the next step is to create your value proposition (i.e. your unique identifier). Create a first draft and then iterate on it once a week based on the feedback you receive from your target audience.

  • Decide on lead generation methods (determine where your ideal buyer personas are, how they prefer to be communicated with, and what their available resources are).

    • Inbound:  company blog, social media, email campaigns, customer referrals, etc.

    • Outbound: buy lead lists, hire a lead generation team, etc.

  • Distribute leads and track sales data (particularly relevant for outbound lead generation).

    • Distribute leads (if applicable) by customer type, geographic region, deal size, etc.

    • Track sales data by activity (how many emails were sent, how many calls were made, how many in-person visits were made); quality (how many decision makers were reached, how many decision makers were qualified); and conversions (how many decision makers moved on to the next step in the sales process).

  • Qualify leads and ensure leads are moving through the sales funnel.

    • Use BANT (Budget, Authority, Need, Time) as a scoring method

    • Examples of some BANT questions include:

      • Do you have a budget in place for such a purchase?

      • Who will need to sign off on this purchase?

      • Are there any other decision-makers involved?

      • Are you looking to start using our product straight away?

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