Which Type of Lead Do You Chase?

(Lead Generation Part 1 of 5)

 

I run a local group called a Mastermind. Mastermind was a concept written about in Napoleon Hills great book ‘Think and Grow Rich.’

According to Napoleon when two or more people get together to discuss ideas and challenges a third “mastermind” is created.  This is the concept that allows many of my clients to see amazing breakthroughs in their business.

 

At a recent meeting we discussed lead generation in depth.

How can we get more leads for our businesses? I am going to do a 5 part blog series all about getting more leads for your business.

I hear from business owners all the time that “getting more leads” is important. It is the lifeblood of many businesses. Over the next 5 weeks I will attempt to give you strategies and ideas that you can quickly and easily use and put in place.

 

Before we dive into the nuts and bolts of creating leads we must first identify the types of leads.

  1. New Leads

Every business owner wants and needs new leads. Most business owners wake up each day thinking about growing their business. Thinking of growth tends to flow towards needing more new customers.

New customers are essential in growing a business. You can’t grow forever without some new leads.

New leads refers to any new potential client or customer for you that previously had never met you, been in your business, visited your website or otherwise shown any interest in you.

This might include meeting someone at a trade show or networking event. It might include someone calling into your business. It could include someone visiting your website for the first time. It might also include someone that was referred to you by an existing happy customer.

All new leads need to be respected, nurtured, communicated with and sold to! The end goal is to sell them something.

If you have a system for guiding your new leads along a path to purchasing you will see a high level of conversions.

New leads can equal new business. Just don’t forget about them too soon or worse, forget to follow up at all!

 

 

  1. Existing Customers

Existing customers are the second type of lead. Many business owners I encounter do not view existing customers as leads. Most assume that since someone spent money with them and had a good or even great experience, they will continue to buy from them.

That’s the WRONG thinking.

Having a good or great experience with your company is par for the course. It has to be a part of your delivery of goods or services or you won’t even stay in business.

So why treat existing customers as leads?

They already know, like and trust you. They have already crossed the threshhold of pain in giving you money. They are the hottest leads you could possibly obtain.

If the goal of a lead is to maximize the amount of money you receive from them in exchange for the maximum amount of value you can provide to them, then existing customers are the best type of leads you have.

You now have reason to ask for more (they were happy), reason to make an offer (they paid you) and a non-confrontational way to communicate with them (educate on your products or services). Getting money from leads will not get any easier than existing customers.

 

So which type of lead do you focus on most? You have to create systems to develop and nurture both types of leads to be successful.

Review your business and be sure you have systems in place for both types of leads.

 

In the next article I’ll dive into how to identify your best potential leads!

So which type of lead do you spend the most on? Leave a comment and let me know what works in your business.