Improve Your Lead Generation and Sales Cycle

Lead generation is a crucial aspect of business success. It’s the process of identifying and cultivating potential customers for your product or service. In this blog post, we’ll explore what lead generation is, how to increase leads for your business, and how to form your own sales cycle. We’ll also discuss how professional networking can increase your bottom line and the negative impacts of not properly working your leads.

What is Lead Generation?

Lead generation is the process of attracting and cultivating potential customers for your business. It involves identifying individuals or organizations that are likely to be interested in your product or service and finding ways to connect with them. Lead generation is the first step in the sales process and is critical to the success of any business.

Activities to Increase Lead Generation

Here are some activities you can do to increase lead generation for your business:

1. Create valuable content: Create blog posts, e-books, and other content that provides value to your potential customers and encourages them to engage with your brand.
2. Offer free trials or demos: Offer free trials or demos of your product or service to encourage potential customers to try it out and see its value.
3. Use social media: Use social media platforms like LinkedIn, Twitter, and Facebook to connect with potential customers and share valuable content.
4. Attend networking events: Attend networking events and conferences to connect with potential customers and establish yourself as a thought leader in your industry.
5. Use email marketing: Use email marketing campaigns to stay in touch with potential customers and keep your brand top-of-mind.

Finding a Great Lead Generation Program

At We&Co, we understand the importance of lead generation for business success. That’s why we prompt our networking groups to implement and execute several programs and resources so our members increase their leads and grow their business, including:

1. Social Media Marketing: social media marketing program helps businesses build a strong online presence and connect with potential customers on social media.
2. Content Creation: executing a content creation program helps businesses create valuable content that attracts potential customers and establishes them as thought leaders in their industry.
3. Networking Events: We&Co’s networking events provide businesses with an opportunity to connect with potential customers and build relationships with other like-minded professionals.
4. Email Marketing: some Huddles choose to enroll in an email marketing program. This helps our members and other businesses stay in touch with potential customers and keep their brand top-of-mind.
5. Lead Generation Coaching: finding a successful lead generation workshop or program helps businesses develop a customized lead generation strategy that fits their unique needs and goals.

What is a Sales Cycle?

A sales cycle is the process of moving a potential customer from initial contact to closing the sale. It involves several stages, including lead generation, lead qualification, needs assessment, presentation, and closing the sale. Understanding your sales cycle is essential to effectively managing your sales process and closing more deals.

How to Form Your Own Sales Cycle

Here are the steps to form your own sales cycle:

1. Identify your target customer: Determine who your ideal customer is and what their needs and pain points are.
2. Create a lead generation strategy: Develop a strategy for attracting potential customers and building a pipeline of leads.
3. Qualify your leads: Determine which leads are most likely to become customers and focus your efforts on those leads.
4. Assess the customer’s needs: Conduct a needs assessment to understand the customer’s pain points and how your product or service can solve them.
5. Present your solution: Present your solution to the customer, demonstrating how it meets their needs and solves their pain points.
6. Close the sale: Close the sale by addressing any objections and finalizing the deal.

Using Professional Networking as a Source for Lead Generation

Professional networking is a powerful tool for lead generation. It involves building relationships with other professionals in your industry and leveraging those relationships to generate leads and referrals. By networking with other professionals, you can expand your reach and tap into new opportunities for business growth.

Professional Networking Statistics

Here are some statistics that demonstrate the impact of professional networking on lead generation and business success:

1. 85% of jobs are filled through networking: https://www.linkedin.com/pulse/new-survey-reveals-85-all-jobs-filled-via-networking-lou-adler/.
2. 70% of jobs are never advertised: https://www.businessinsider.com/at-least-70-of-jobs-are-not-even-listed-heres-how-to-up-your-chances-of-getting-a-great-new-gig-2017-4.
3. 80% of professionals consider networking to be important to their career success: https://news.linkedin.com/2017/6/eighty-percent-of-professionals-consider-networking-important-to-career-success.
4. Businesses with effective networking strategies generate 70% more revenue than those without: https://www.forbes.com/sites/blakemorgan/2019/09/24/50-stats-that-prove-the-value-of-customer-experience/?sh=39a5176d4ef2.
5. 92% of people trust recommendations from friends and family over all other forms of advertising: https://www.forbes.com/sites/blakemorgan/2019/09/24/50-stats-that-prove-the-value-of-customer-experience/?sh=39a5176d4ef2.

The Negative Impacts of Not Working Your Leads Properly

Not properly working your leads can have several negative impacts on your business, including:

1. Missed Opportunities: Without a proper lead generation strategy, businesses may miss out on potential customers and sales opportunities.
2. Wasted Time and Resources: Without a proper sales cycle, businesses may waste time and resources on leads that are unlikely to become customers.
3. Decreased Revenue: Not properly working your leads can lead to decreased revenue, as potential customers may go elsewhere if they don’t feel valued or understood.
4. Poor Customer Experience: Without a proper sales cycle, businesses may provide a poor customer experience, leading to negative reviews and damage to their brand reputation.
5. Difficulty Competing: Without an effective lead generation and sales cycle strategy, businesses may struggle to compete in a crowded marketplace.

Negative Impacts Statistics

Here are some statistics that demonstrate the negative impacts of not properly working your leads:

1. 70% of leads are never followed up on: https://www.ringlead.com/blog/why-leads-fail-70-of-the-time/
2. 79% of marketing leads never convert into sales: https://www.marketo.com/lead-management/
3. Companies lose an average of 71% of leads because of a lack of follow-up: https://www.thebrevetgroup.com/sales-statistics/
4. 46% of salespeople never follow up with a prospect: https://www.insidesales.com/insider/sales-lead-management/statistics-every-sales-rep-should-know/
5. Companies with effective lead nurturing generate 50% more sales at a 33% lower cost: https://www.marketo.com/lead-nurturing/

In conclusion, lead generation and sales cycle are critical components of business success. Without a proper lead generation strategy, businesses may miss out on potential customers and sales opportunities, waste time and resources, and struggle to compete in a crowded marketplace. Similarly, without a proper sales cycle, businesses may provide a poor customer experience, leading to negative reviews and damage to their brand reputation.

At We&Co, we understand the importance of lead generation and sales cycle for business success. That’s why we prompt our members to explore several programs and resources to help them increase their leads, form their own sales cycle, and build relationships with other professionals in their industry. From social media marketing to networking events to lead generation coaching, the tools and expertise to help businesses thrive are out there – are you harnassing it?

So if you’re looking to take your business to the next level, consider joining We&Co and taking advantage of our networking groups or “huddles.” With our help, you can increase your leads, close more deals, and grow your business.