Build the infrastructure. Don’t sit back and wait for something great to happen. You have the power to bring in new business and generate revenue for yourself. It’s all about process.
Whether you’re a startup or a business veteran, building scalable infrastructure for your internal business process is essential.
Generating revenue from business process
How will you get the phone to start ringing? What happens when the phone does start ringing? Do you have a process to vet and qualify prospects? Have you constructed a precise target client profile?
Do you have talking points ready to guide the conversation?
What type of prospects are you saying ‘yes’ to? Who do you say ‘no’ to?
My company targets ______ organizations in the _______ industry who are struggling with these ________ problems. They generally have an operating budget of _______. They usually have _______ interal staff working on digital media and marketing. We help our clients strategize new and innovative methods to establish a stronger connection with their audience so when it’s time to deliver actionable messaging their audience is actually listening.
Without a targeting statement you are running a race that can not be won. Once the targeting statement is complete, it’s easy to go after new business and start filling up your sales funnel. It’s a great way to start conversations also. When you know exactly what you’re looking for it’s easier to either narrow in for the sale or move on so you don’t waste time working on a dead end lead.
Filling up your sales funnel
Your website is your hub. To set up a scaleable lead generating system you want to direct everyone to your website with various tools. Blogging, social media, email marketing, SEO and referrals are a few ways to fill your sales funnel. In the beginning you may find yourself having to make the effort and reach out to people with phone calls and set lunch meetings to acquire new business. That’s OK! Get the ball rolling.
Once acquiring a few pieces of business in person, do a great job and turn them into advocates of your company. Get your happy customers to talk about you at their networking events as well as on their social media accounts.
It’s not easy to become an inbound marketing machine like HubSpot. With persistence and consistent effort leads will start to come in. Lead generation is not impossible! It’s all about process.
I can’t stress how important it is to have a ‘rap’ for sales calls. Getting on the phone cold is never a good idea. You may think it’s OK because you have confidence to carry the conversation, which may be true. But you’re sure to increase your conversions if you have a beginning, middle and end in mind. Always be working to close the sale. Set up your phone scripts to do a few things:
- Listen to the prospect. Ask them what problems they are having. What would they like to do better? Ask a lot of open ended questions.
- Vet/qualify the prospect. Find out if they match your targeting statement. Don’t hesitate to tell the prospect you don’t offer what they need. Don’t put yourself in a situation where you’re offering a service you don’t actually offer.
- Become the confidant. If you listen enough the prospect will feel good because it’s a therapeutic process to talk about problems.
- Schedule a second meeting. Tell them you’d like to do some competitive research and assess their situation. Offer a free consultation to discuss possible solutions you can deliver. Do your homework for the second call…it’s crucial. This is where the conversion happens.
- Give great advice. After you listened to their problems and made it to the second call, give the prospect enough free advice that lets them know you can help them. There’s always going to be people who want free advice and will work you for it. Be objective and have a bird’s eye view. Be in the conversation but keep in mind it’s one conversation in hundreds you will have this year.
- Discuss a budget. Don’t let this topic be swept under the rug. All companies have a budget for marketing and development. It is impossible to develop any business or marketing strategy without a budget. Find out the budget so together you can plan accordingly.
- Get commitment. Once you make it this far it’s time to put on your game face. Inform the prospect of your closing process and be very transparent. Let them know how your contract process will function and what the next steps are.
Working towards goals
Without goals and champagne moments how will you know when you achieve something? Just as if you were setting physical goals for yourself to lose weight or start a new exercise routine…once you achieve those goals it is clear that you achieved them. Set your business goals the same way. Create clear measurable objectives that when achieved you can say the goals are being accomplished.
How much revenue do you want to generate this month? $20,000? $100,000? How many prospects do you need to speak with in order to accomplish that goal? What process do you need to implement to ensure you’re pursuing enough prospects to hit your goal? Is your infrastructure ready to close new business and provide awesome services that you can ‘rinse and repeat’ over and over again?
Find your bread and butter and go after it.