Blog Posts in This Series
Your business, irrespective of its size or industry, relies heavily on your sales pipeline.
This vital aspect of your enterprise propels growth, continually injecting lifeblood into your business’s veins.
Traditionally, many businesses find themselves trapped in the sales rollercoaster, witnessing a sporadic influx of contracts, and facing a subsequent dry spell.
Such a pattern can lead to inconsistency, affecting your business stability adversely.
This blog post emphasises the need for a predictable pipeline of leads and the benefits it imparts.
The Significance of a Predictable Pipeline of Leads
A predictable pipeline of leads ensures a consistent inflow of potential customers, bestowing tranquillity upon business owners.
The introduction of an effective lead generation system can exponentially expand this pipeline, furnishing a steady stream of new leads.
The beauty of this system lies in its nurturing capacity. Once prospects enter your lead generation system, they are nurtured and cultivated without necessitating additional touchpoints.
This experience forms the foundation for trust, fostering a bond between your business and your potential customers.
Importantly, when you have successfully implemented your lead generation system, the data collected during the first few months can offer invaluable insights.
This data can help you understand the necessary interactions required to generate a sale.
How Does a Lead Generation System Benefit Your Business?
Let’s take an example: suppose you have an average of 200 new leads entering your system each month, out of which 25 book a call with you, generating five new customers.
This gives you a 2.5% conversion rate. If each of these new customers contributes £2,000 to your business, that’s £10,000 directly attributable to your new system.
Now, imagine the growth potential if you could boost your conversion rate to 5% or increase the new leads to 400.
Suddenly, you’re generating £20,000 in new business for the month.
Understanding this data is crucial for your business, allowing you to gauge the number of new leads entering the system at any time and predict how many of these may convert into new customers.
Evaluating Your Current Sales Pipeline
Consider your current sales pipeline and ascertain your current conversion rate.
This data, even in its simplest form, is invaluable for your business.
It provides a critical reference point for your lead generation system and offers a trajectory for potential improvements.
Test, Tweak, and Build Some More
Creating a successful lead generation system isn’t a mere flight of fancy, rather it involves meticulous planning and actionable information.
When talking about your pipeline, it’s paramount to scrutinise data from your lead generation system and focus on optimising your offer.
This is achieved through conversion optimisation.
The purpose of optimising content in your lead generation system is to generate more enquiries, ultimately leading to more customers.
When testing alterations, remember to focus on one or two changes at a time.
If too many changes are made simultaneously, their effectiveness becomes challenging to track.
Expanding and Repurposing Your Lead Generation System
Once you’ve successfully implemented your first lead generation system, consider branching out and creating more.
Businesses often utilise between 5 to 10 lead generation systems (or more), each contributing to the influx of new leads.
Moreover, the content you’ve curated for your lead generation system can be repurposed for other platforms, such as YouTube videos or blog articles.
This versatility provides additional avenues for traffic into your lead generation system.
The Emotional Journey of the Customer and the Role of the Lead Generation System
It is common knowledge that customers purchase based on emotion and relationships.
People are more likely to buy from those they know, like, and trust.
By demonstrating a deep understanding of your potential customers’ problems, educating them, nurturing them through your system, and offering a solution, you create an emotive response.
Within your lead generation system, you establish a series of micro-commitments, starting from the moment a prospect signs up to receive your content.
Each step along the way represents another commitment, whether it’s opening and reading an email or booking a call with your team.
Utilizing a lead generation system ensures that your business engages with customers who are already informed and invested.
They have received the value you delivered and are ready to take the next step in discussing how your products or services can help them.
By embracing lead generation systems, you bid farewell to the unpredictable sales rollercoaster.
A consistent flow of new leads provides you and your team with the opportunity to select the clients you wish to work with, enhancing the overall quality of your customer base.
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