If any of you can remember Step #1, that’s probably the MOST important of all the steps. Step 1 is “Identify and Understand your BEST and IDEAL Customer”. We can’t be doing business with anyone and everyone, so step 1 is critical before you move forward. Let’s move to Step 2.
SNIPER VS SHOTGUN APPROACH FOR LEAD GENERATION FOR SMEs
STEP #2: KNOW HOW TO REACH THEM
Once you identify with your ideal customer, start researching on the best ways to reach them. I worked with a travel agent who wanted to focus on a special niche of coordinating holidays for elderly and physically-challenged people. They had special resources to enable this group of consumers to enjoy hassle-free holidays that catered for their lack of mobility. Most travel agents would focus efforts at expos and events, who usually attract younger professionals, or even use social media. We need to ask who are the types of people who are using these modes, i.e. how old are they? What are their possible incomes?
When we worked with this travel agent, we used flyers and brochures that were distributed to older residential areas, and used a specific language that would make consumers make a double- take on the brochure, because it spoke to them, assuming the reader was elderly folk.
STEP #3: UNDERSTAND YOUR AUDIENCE’S CURRENT FRUSTRATIONS
So what language am I talking about here. Understand the frustrations that your ideal target customer has around generally using products in your industry. Let’s get back to the travel agent are spacious and accommodate wheel-chairs. Once you understand this “frustration”, design these words in your marketing campaign (flyer, brochure, online advertisement, etc). Using a strong header will enable you to grab attention of the targeted consumer, and hold on to that attention long enough for them to take action in your campaign.
This takes surveys, conversations and research, which sadly, most entrepreneurs don’t do nowadays. It’s called market validation, where you validate your market, and understand what your customers really want.
STEP #4: BUILD A PIPELINE THAT PROMOTES CONFIDENCE BUILDING
Most businesses sell more than one product or service. What we find many entrepreneurs tend to do, is focus on selling the most expensive and premium product, which tends to turn first-time consumers off when insufficient confidence has been built. Understand the buyer’s psychology, unless you have a well-known brand (like Apple or Samsung), there would be challenges trying to get customers to part with thousands of dollars, if they had just met you.
Build a product and services pipeline that helps people try what you do, and help them buy from you. Remember, we are referring to SME businesses, so SMEs have to enable consumers to build their confidence in you, before they spend the big bucks on you.
How to build your funnel:
❥ List down your products and services from the cheapest (at the top), and the most expensive of your products (at the bottom), where you get to upsell to once you have delivered the cheaper products.
❥ Commit to great work! It’s difficult to get testimonials from customers, let alone upsell more expensive products, if you don’t deliver good work!
STEP #5: OFFER SOMETHING RISK-FREE FOR THEM TO TAKE ADVANTAGE
In generating leads, and also due to the extremely competitive market we are in, we need to be competitive and attractive right out the gate. Consumers today are spoilt for choice, and generally, consumers are more knowledgeable today. This is a good thing, because it forces businesses to be competitive, and to raise their game always.
Some risk-free suggestions to consider:
❥ Giving a Guarantee: Make a promise (that is meaningful to your customers), and understand the conditions necessary for you to keep that promise to your customers. Applicable for: Food delivery services, printing services, etc.
❥ Trial periods: These are great to enable consumers to experience your service, before they buy a package or sign-up for longer commitments of time with you. Applicable for companies that sell software, spa treatment centres, gyms, etc.
❥ Relatively cheaper or free experience: These are great if you provide a service or a solution to a specific challenge and assist them to troubleshoot. For example, offering a website diagnostic to assist entrepreneurs identify with areas that can improve traffic.
Marketing is math, which means it’s very much a formula. Once you master the art of generating leads, this enables you to use the same skill and structure in any business, and anything that you market or sell. I hope both parts of this article had been useful to you.
For those of you, who want guidance, please feel free to give me a call at my ActionCOACH office and speak to any one of my coaches, or email me at email@example.com. We are happy to help.
Enjoy the application, and see you next month!