Lack of Sales
Tools to Increase Sales and Profits
Every company has to generate leads; every business must convert leads into sales.
Yet the painful truth is that many companies struggle to consistently generate the sales volume they need.
In a moment we’ll share four tools (2 free, 1 under $20, 1 a larger investment) to help you to consistently increase your sales and your profits, but first, you need to put your finger on the exact pain point that is causing you the most lead generation or lead conversion trouble.
Let’s start with your lead generation pain points.
Which of the following lead generation challenges currently harm your company?
- You don’t have enough leads to sell to. Or your lead generation is erratic and you don’t have a consistent lead stream you can count on.
- You don’t have a system to organize and manage your leads. As a result you don’t consistently follow up with leads in a timely way and many of your sales opportunities slip between the cracks.
- You don’t have a structured lead scoring system. You waste your sales efforts by squandering your best sales resources on variable leads rather than being able to quickly and easily sort your lead pool to separate out your highest-quality leads for follow-up first.
- You don’t systematically track your lead generation efforts. Without hard data you have no way of determining which of your lead-generation tactics are producing and which aren’t. Raw intuition or anecdotal observations are not enough.
- You don’t have a system to generate leads. You or a key staff member have all the “know-how” of how to implement a marketing tactic in your heads versus a concrete business system. Your company is vulnerable should the key person not be available to do the marketing.
- Your current lead-generation processes aren’t scalable. Either the prospect pool you work with is too small or the system itself is limited, and as such you can’t scale the basic lead generation system(s) that you have.
- Your current cost per lead is too high. The leads you generate are just too expensive to make sense considering your current conversion rates and average unit of sale. You need less expensive ways to generate leads or better conversion systems to get more from each lead you do generate.
- Your lead quality is just too poor. It’s like looking for a needle in a haystack of junk leads who either aren’t qualified or motivated to buy your product or service.
- You have a ton of lead generation ideas but you just don’t seem to be able to effectively implement them. You have half-done many different marketing ideas, but never seem to finish implementing the majority of them so that they actually produce leads for your business.
- Your marketing is too reliant on you, and as such you “start /stop” it as other demands in the business pull you away. As a result, you regularly go through cycles of feast or famine where you alternate between focusing totally on producing your product or service offering with no time to market, and likely no real capacity to take on more work, followed by periods of panic where you see your funnel running low and you scramble to start up your marketing again to quickly bring in more business. Not only does this constant cycling back and forth between the two exhaust you, but you never seem to build enough momentum to break out of this trap.
If you noted that your company currently suffers from more than one (and in our experience coaching thousands of businesses we know that this is likely the case) which ONE lead generation challenge is currently costing your business the most?
In our experience working with small and midsized businesses, many mistakenly believe their lead-generation woes are one of volume: “If only we had more raw, fresh leads to work with . . .”
However, lack of leads is generally a result, not a cause. It’s almost always a byproduct of one of the other lead-generation pain points.
For example, maybe you don’t have an organized sales database so the leads you do generate get a poorly crafted sales effort and almost no organized sales follow-up.
Or perhaps because you don’t systematically track your marketing tactics, you can’t rationally compare lead generation tactics so that you end up wasting thousands and thousands of dollars on poorly performing tactics when those same dollars could be reinvested in your best lead-generation producers to scale those winning efforts.
Still others may find they regularly go through periods where they have to turn attention away from marketing to other areas of the business, and as a result never seem to build any marketing momentum.
To build a Level Three business, every business needs a lead generation system that you can count on to produce for you regardless of whether or not you personally were there to be the driving and directive force.
Time to turn to your lead conversion efforts.
Which of the following lead conversion challenges currently harm your company?
- You don’t have a focused understanding of your product or service that you can powerfully communicate to your prospective customers. Or if you do have a clear understanding, your prospects just don’t find the way you communicate it to them compelling or enticing.
- You don’t have a defined sales process to lead prospects through clear stages to close the sale. You’ve never strategically laid out all the steps in your sales process in a visual way so that you could formalize your sales process and work to optimize it.
- You, the owner, are the only salesperson for your business. All the essential sales know-how is locked in your head (or in the head of a single key employee). If you (or your single key employee) aren’t there, no one else would be able to close business.
- You lack the sales capacity to actually process and sell to all the leads you already have. As a result, many leads spoil for lack of someone to follow up with them.
- You have no reliable control in place to accurately track, measure, and refine your sales system over time. You don’t know what your key conversion rates are at each critical step in your sales process, and as a result you’re flying blind, not really knowing if a change you make is working as intended or not.
- Your sales system simply isn’t scalable as it exists at present. It works at your current business volume but it won’t scale as you grow.
- You don’t have effective standardized sales tools (e.g., testimonials, sales collateral, scripting, sales contracts, etc.). As a result, you waste valuable time creating improvised sales tools as you go that never seem to turn into the refined sales tools you know you eventually need.
- You lack an organized follow-up system to coherently nurture leads that need more time to close. You attempt to sell once and if they don’t buy, you move on to your next prospect.
- You don’t have a back-end offering to up-sell/cross-sell your customers on. Once your customers buy from you, you have no real next-step offering for them to keep buying.
- Your sales scripting is weak and/or your sales team is poorly trained. You sell based on price with no real scripted process to develop your prospect’s need, pain, and aspirations. You don’t systematically help your prospect quantify the cost (emotional and financial) of their status quo, and the real value of a solution.
If you noted that your company currently suffers from more than one (and in our experience coaching thousands of businesses we know that this is likely the case) which ONE lead conversion challenge is currently costing your business the most?
At this point you’ve pinpointed the lead generation and the lead conversion pain points that currently hurt your business the most.
So what do you do about it?
While we offer no ‘quick fix’ or ‘instant solution’ (sorry, not going to be that easy) we do want to offer you several tools for you to leverage to help you grow your business by not only generating more leads and improving your conversion to sales, but to do it in a systematic and sustainable way.
Here are those tools:
- Chapter 7 of “Scale: 7 Proven Principles to Grow Your Business and Get Your Life Back” (Penguin Random House)
- Video 4 of the Free 5-Part Video Training Course titled, “The Top 10 Marketing Tactics to Radically Increase Sales in 90 Days or Less”. (43 minutes)
- Grow Your Sales Workshop: Lead Generation and Conversion Systems to Grow Your Bottom Line, September 26-27th, 2015 in Irvine, CA
- Free business coaching session to try out the Business Coaching Program (60-90 minute session if your business qualifies).