“Fine tune your lead generation systems to get valuable leads.”
On today’s Coachcast we review our lead generation processes to make adjustments to get the best leads.
Any lead is a good lead is not a successful model. Leads come in different levels of quality and we want to make sure that we are focusing our efforts in generating only the best leads that fit our needs.
We all get leads from many sources from lead services to word of mouth. The quality of those leads vary depending on where they are coming from. Some leads are just tire kickers and others are ready to spend. Some simply don’t fit with our culture. You can get leads that are only looking for the best price and we don’t want those. So how do we make sure we are getting the best leads.
There are many ways to look at this and different techniques to generate leads. When I was running a local civil business I would attend county meetings to see what zoning requests were being made. This allowed me to get in front of developers before they even designed their projects. I would offer to help them and share knowledge I had of local influences. This got me in the door at an early stage and made me the front-runner for getting the work. I was able to eventually close 3 out of 4 leads that I picked up through this hustle. Now those are good numbers.
[tweetthis]Fine tune your lead generation systems to get valuable leads[/tweetthis]
We need to stop wasting our time and efforts chasing down so-so leads nad focus our attention to the high quality leads and sources. To accomplish this you need to take a look at where your leads are coming from now and which ones actually convert to awards.
Start by taking inventory on how you generate leads. See where they are coming from and what it costs you to get them. This is your cost of customer acquisition. I recommend that you figure this out because it will help you to quantify to value of your repeat business.
To be accurate you need to track it all the way through your processes from initial call to contract award. Look at the last 5 to 10 jobs you were awarded and see where those leads came from. Then look at your last 20 or so estimates you did and see where those came from. Rank you lead generation systems by estimates and awards so you can see which ones are resulting in awards.
Once you figure out where your awards come from you can start focusing your effort in that lead generation source. Put the majority of your effort into your primary source and then the remainder in #2 and #3. You will find that some of the systems you use are generating limited quality leads and probably not worth your time and money.
Rank your current lead sources by cost, estimates and awards
Determine your top 3 and focus on those and drop the others
Keep fine tuning so you can increase the quality of your leads