The 21 Marketing and Sales Challenges of ICT Businesses
Challenge #10 – Having consistent Lead Generation
Welcome to number ten in our series of 21 Marketing and Sales Challenges of ICT Businesses and what to do about them.
Are you sick of the revenue rollercoaster ride?
Many businesses do lots of project work which is fantastic because it creates large peaks in revenue. However as you would be aware it also creates big demands of both management and staff time. Because of this, businesses are so busy delivering the project work that they often put off or ignore ongoing lead generation.
So, when the project finishes they are then faced with having to start lead generation activity which means a gap in revenue between when the project finishes and when new work is sought, quoted on and won.
Watch the video below and read the article for more:
How to solve this problem?
1. Build the pipeline and prospects
If you want to have consistent revenue you need to ensure you have enough new prospects at different stages of the buying process. That means you need prospects who:
- you think might be good potential clients (Idea)
- you have made contact with (Contact Made)
- you have met and discussed how you can help them (Meeting)
- you have provided a proposal/quote to (Proposal)
- have said yes to your proposal and are ready to proceed with the work (Yes)
- have said no to your proposal (No)
- are not ready to proceed at this stage but may in the future (Future)
By ensuring you have prospects in each of these stages, when you complete a project you can revisit the future prospects, go back to prospects you have met or have made contact with rather starting the whole lead generation process from scratch.
2. Ensure your lead generation is targeted
If you’ve identified your ideal clients lead generation is much easier. Start by creating a list of all the businesses you want as clients. Then make sure you’ve identified (by name not just title) who the decision maker is in that business. These are prospects in the Idea stage.
3. Establish a consistent lead generation process
Now you’ve identified your target clients it’s about moving them along this pipeline by having a consistent lead generation process. Here’s an example below:
4. Review your Sales Pipeline Weekly
By ensuring you report on the sales pipeline and how many prospects are at each stage every week you’ll create both consistency and accountability.
5. Sit back and enjoy
The end result of consistent lead generation is a smoothing out of the revenue peaks and throughs. While you won’t have the thrill of the revenue rollercoaster ride you will enjoy the calmness and predictability of a consistent flow of new business.
Need consistent lead generation in your business?
If you need assistance in defining your ideal prospects or creating a lead generation process, our Marketing Consultancy services will help guide you.
We also have a lead generation service that can help you identify, qualify and reach out to your ideal prospects so you can focus on delivering work safe in a knowledge that when the project finishes you’ll have prospects that you can reach out to move along your pipeline.
Just contact us on 1300 676 448 or complete our contact us form.