How many leads does it take to get you a sale?
Remind me of the classic commercial for Tootsie Pops:
“How many licks does it take to get to the Tootsie roll center of a Tootsie Pop?”
Mr. Cow, Mr. Fox and Mr. Turtle don’t know because they never got that far without biting.
Mr. Owl thinks he knows because he took three licks and crunched his way to the center. So he says it’s three.
But no one knows for sure.
Just as many small businesses don’t know their lead flow for sure either.
How many leads do you need? How many times do you need to “touch” that lead before they’re ready to buy?
Leads have been on my mind over the past few weeks, Yes, my best leads have come from in-person referrals. So I have tended to focus on 1:1 coffee meetings and connections.
But lately, I just haven’t had the energy. (A death in the family will do that). Plus, I stepped up into a new volunteer leadership position, so that has eaten up discretionary time. Which means less time for networking. That got me to thinking: What happens when I’m not there to generate leads? Because we know there’s a litany of ready excuses that can pull us away from sales.
While masterminding with another consulting colleague about business models, he confided:
“I never realized how many leads we need to have in the pipeline to make our sales numbers. We need a lot more leverage than I can achieve with just 1-on-1 coffees.”
That’s the key: leverage.
Unless you have staff to implement all the work, chances are you still have your fingers in different pies: making sales, client services, business management, strategic planning. There just isn’t TIME. Time to network with contacts and keep meeting with them regularly so you stay top of mind. Clients aren’t always ready to engage you at the moment you’re meeting. It takes time for the seeds to take root.
That’s why you need a system, instead of haphazard one-offs.
For me, I’m using technology to leverage the content I’ve developed and create a “nurture sequence.” Some clients have used subscription boxes. Others “gift” digital programs to their list.
How do you stay in touch during the in-between times so you don’t lose momentum … and have to get reacquainted each time you meet?
What’s working for you? Post a comment on our blog and let me know how you’re growing your business, your way.