Why outsourcing Lead Generation makes more sense than ever.
Why outsourcing lead generation makes more sense than ever. For the typical company, some business development activities align with the enterprise!s core competencies more than others. In light of today’s economic conditions, more and more companies are discovering that lead generation and referral development are activities that are better left to an outsource specialist. The reasons behind this shift in thinking are many: Internal resources are more scarce than ever. At best, the process of lead generation and referral development is frustrating and time-consuming. And many companies can!t justify the overhead of dedicated staff for this endeavor. Senior personnel, and even non-marketing staff, are often called on to add this role to their personal agendas. Depriving them of time they could spend on high-impact activities that are more suited to their talents. The need for more robust results. Let!s face it. It takes a certain kind of personality and focus to be successful at lead generation and referral development. We have developed a process that is part art, part science, and all about tenacity. With this pleasant yet persistant approach, a trained Megafacts advisor is simply better at breaking through than most in-house people could ever hope to be. A predictable and adjustable investment. All issues of ability and focus aside, it’s difficult to carry out an internal program in a cost-effective manner.. By outsourcing the lead generation and referral development functions, a company can adjust its level of activity to suit changing requirements for work volume —”while compensating for seasonal considerations and economic climates. An invaluable head start for the Lead Generation process. The more turnkey a business development program can be, the better its chances for immediate and long-term success. The integration of an outsource partner enables an enterprise to hand off any number of tasks, based on its needs and budget. These activities can include the development of a targeted, proprietary database. Along with the detailed followup and reporting that is essential to maximizing program success. Finding the right contact. Versus any contact. Multiple calls and/or emails are often required simply to identify the real decision-maker you need to reach. As such, this initial research/contact component is invaluable to the business development process. The only thing worse than not getting a meeting is getting one with the wrong person. The ability to make an entrance. The decision-makers you!re seeking to meet are people who fully...
Read MoreWant to win more business? Articulate your value proposition.
My friend and a business colleague Jonathan Verney posted a very good article on his website that I want to share with you. The approach provided in developing a strong UVP (unique value proposition) to reach potential clients is one that I practice and endorse. While the focus here is on wealth managers, the concepts can be applied to almost any market sector. You can read more on The Five Laws of Business Writing on Jonathan’s blog. http://jonathanverney.blogspot.ca Want to win more business? Articulate your value proposition. It’s amazing how easy it is for us to miss the obvious, simply because we can’t see the forest for the trees. We sometimes forget why were in business. Our knee jerk reaction is to say that we’re in business to make money. If you think that’s the answer.. You would be dead wrong. Making money is the result, not the goal. It’s the after-effect of your day to day efforts to perform and produce and complete whatever it is you do for a living. Because what you do for a living isn’t making money, it’s making satisfaction. Remember that old Stones song: I Can’t Get No Satisfaction? If you can’t satisfy customers and clients in some monetizable way, you won’t be in business very long. Some of my clients are wealth managers. Their job is to manage money for wealthy people. Of course, it’s a lot more complex than that, and while most wealth managers (and financial advisors) understand their value, they forget the big picture. They forget that their prospects and clients don’treadily understand their value the way they do, which is why they need to be told in clear and certain terms. This is why articulating your value proposition is so important to winning new business — and at the same time, so hard to do. (Shameless plug: you can find a whole chapter on value, and value propositions, in Feed the Startup Beast). Anyway, as part of my research for one of my wealth manager clients, I found an excellent article on value props for financial advisors. I’ve emphasized some of the points made, but otherwise left it intact. Even if you’re not in the wealth management business, you might find it useful too. I sure did. Going from Good to Great with the Right Unique Value Proposition BY: KEN HAMAN Financial advisors know there’s a lot of competition in the marketplace...
Read MoreGreat New Book on Startups Now available
A colleague of mine has just released his new book, Feed the Startup Beast Jonathan Verney’s book, Feed the Startup Beast: A 7 Step Guide to Big, Hairy, Outrageous Sales Growth (McGraw-Hill, New York) officially arrived in bookstores this weekend (July 20th). Written with serial entrepreneur Drew Williams, Feed the Startup Beast has been described by Huffington Post and Forbes.com blogger Christine Crandall as “the operating manual for driving market share and revenue in the twenty-first century.” They also have a blog which gives entrepreneurs a variety of tips on how to grow their business. You can find it at www.FeedtheBeast.biz Jonathan also has a blog for small business called “The Five Laws of Business Writing” which helps entrepreneurs and business professionals understand how to tell stories in a business context. You can find it at www.jonathanverney.blogspot.ca...
Read MoreHow to Grow Your Business Faster with Targeted Lead Generation
Every day going through my mail I get amazed at how much money and resources are wasted on senseless and ineffective advertising. On the average, 30% to 40% of what’s in my mail box goes straight into the waste basket. Several questions pop into my mind; a) I can’t be the only one who gets annoyed by all the junk advertisement b) In this age of sustainability, how can companies waste so much paper, ink, energy, etc? c) Is this really an effective way to promote your company or service? Do these mass mailings really help companies achieve their business goals? I have been in the field of B2B business development for over 25 years and, based on my experience and success record, I would have to say that whether you are a B2B or B2C company, trying to be all things to all people is a sure way to fail. Instead, you need to narrow down your marketing efforts to a group of people or companies that may be in the market or have a specific need for your particular product or service. Here are 6 steps for a successful targeted marketing campaign: Decide on who you want to target – based on specialty, geographic area, size of the company, etc. Create database of companies that match your criteria – collect information such as address, phone number, and website. Find out who the decision makers are within those companies – in order to be effective and not waste your time with the middle men, you have to go right to the source a.k.a. decision maker. Make initial contact with that decision maker by means of mail or e-mail – that will put you and your company into their memory bank. Cold calling does not work. Make a secondary contact by phone– even though you may have to jump over many hurdles to get through, your persistence will pay off and you will get to have a conversation with the person or people that have the power and ability to buy your goods or services Schedule a meeting with them and make your presentation – this is your chance to create chemistry, build a relationship, and, ultimately, make a sale. Remember, the relationships you create need to be strengthened and nurtured over time. Your business relationships work for you in several ways; “word of mouth” advertising and repeat business, just to name a...
Read More5 Common Mistakes to Avoid in Your Business Development Strategy
Sales organizations that find themselves stuck atop a plateau are often there because they are relying on habits that may have produced good results in the past, but are less fruitful or counter-productive in the present. As human beings we are habitual, meaning that we create habits that convert into a routine. The problem with a routine is that it only produces a fixed level of productivity. Sales people develop routines under which certain components are productive and others are counterproductive and usually result in a lot of wasted time and money. Albert Einstein’s definition of insanity is:” Doing the same thing over and over again and expecting different results”. Let’s examine some of the most common mistakes made in a process of business development: Your marketing campaign is too general – you can’t be everything to everybody, thinking that it will bring you more customers. You need to figure out who your customer is, research their needs and requirements, and direct your marketing efforts to those individuals or companies. Too much focus on your products or services – Your prospects’ primary concern isn’t that you’ve been in business for 25 years, but whether you know the problem they want to solve. You must identify at least one common problem of your prospects and the benefit of using your product or service Lack of Follow Up – when marketing for my clients or for myself, I use a “pleasantly persistent” approach. Without being a “pest”, I keep regular contact with the prospects using email, and the phone to follow up and close the sale. Unless you hear a definite “NO”, don’t give up. Failing to invest sufficient time and effort – In order to build relationships it takes a considerable amount of time and energy. Companies that succeed are those that have a clear objective and implement a strategy based on market research and a commitment to seeing their efforts through to completion. Not Focusing on Repeat Business – Repeat business typically makes up 80 percent of customers in most businesses. Too often marketing campaigns are heavily focused on bringing in new customers and not building relationships with current...
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