Leads, Leads, Leads. That’s the name of this game! Oh, and as an added incentive, I’ll show you a sliver of what our Lead Generation Team here at IMGrind has produced over the last year.
Wait for it…
Now the best part – these are just leads we’ve produced into sales from our inbound marketing efforts. I know, I know, it’s only a little over a half a million dollars, but considering our costs involved is just hosting IMGrind, not too shabby! Also, this doesn’t even include our Seminars and DVD Recordings, which has put us over the $1 Million dollar profit mark in just a year.
Ok, less boasting and moving onto the good stuff here…
Lead Generation is a key element to any company’s marketing strategy. It helps us to identify highly qualified prospects in target segments which ultimately, allows us to build out our sales funnels. The problem most lead generators face though – they fail to truly appreciate everything it takes to build a successful lead generation team. From defining your revenue expectations and understanding your buyer persona(s) to assembling the right tools, hiring the right people, and managing the team effectively, launching a lead gen team is no small feat.
Here are the 6 crucial elements we used over the last year to generate $542,277.48 in revenue from our lead generation efforts here on IMGrind. (Hopefully, you find them useful!)
1. Always understand who your top target segments are! You can do this by:
- Mapping out the total market
- Identify all the sweet spots
- Define all the segments
- Select the segment based on competitive advantage
- Scope out your competitors
- Identify potential partners
- Develop prospect lists for the selected segment
- Define your revenue expectations
2. Define your buyer personas:
- Determine their pains and needs
- Recognize the business drivers
- Understand the buying criteria and process
3. Have all the right tools!
- Conversation guides – Clear value propositions, pains and of course – solutions!
- Email templates – first, second, and third attempts – ALWAYS nurture your leads
- Persona guides – Overviews of each buyer persona
- Competitor information – strengths, weaknesses for use if they are ever brought up in conversation
- List – common objections and rebuttals
- Attention grabbers – such as the ROI customers have had with your solution
4. Consideration of building a team:
- How will you structure your team?
- Who will lead your team?
- Will you be hiring and training?
- Who will assemble asset packages and training material?
- Who will define the goals, metrics and compensation?
- Who will be generating lead lists?
- Who will setup up the CRM to support the team and processes?
- Where is the team located?
- What supplies will your team need to do the job?
5. Do you have the bandwidth to do everything it takes to lead your team?
- Meetings – weekly calls, 1-on-1’s with team members and weekly / monthly kick-offs
- Motivation – creating contests to keep the team engaged
- Segment focus and selection – examining penetration of the target segment
- Determining future segments and building out the necessary asset packages
- Sourcing new leads
- Executing your relationship marketing strategy
- Asset creation – Improving assets for the current segment, reviewing progress against the segment and creating assets for upcoming segments
- Reporting – communicating successes and challenges to your lead generation team
- Team Communication – Speaking with your team members to ensure all opportunities are legitimate and taking place
6. Ask yourself – Do the benefits outweigh the costs?
- Increased pipeline + Increased revenue
- More touch points within your target segment
- Always become better at understanding your target segments
- Supplies – consider the cost of computers, headsets, phones etc..
- Subscriptions – to CRM’s, forum software, autoresponders, etc..
- Time – this investment is highly overlooked but crucial
There you have it. A lot of data points to consider when deciding if building out a lead generation team is right for you. It works for us, so it can work for you too!