Depending on the organisation, the definition of the term “lead” may vary. For some companies, a “lead” is a contact already determined to be a prospective customer, whereas other companies consider a “lead” to be any sales contact. But what remains the same across definitions is that a lead will potentially become a future client. Sales teams therefore have a responsibility to convert a maximum amount of leads to maintain a good conversion rate.
A powerful technique for building your reputation with a defined audience over a period of time is to regularly send them a newsletter, which can either be free or paid subscription. Newsletters can be used to position you as an authority in your marketplace, to build closer relationships with clients. You can use them to educate your target market so they can make more informed and more frequent buying decisions or educate them to the full extent of your services and how you can add value through those services.
You have to determine the level of ability to do this in your area but one great way how to generate MLM leads is through either bandit signs or sticky notes. Bandit signs are those colorful outdoor signs you see along the highway or busy intersections. There is a training available here – How to market with cheap bandit signs. One thing you will want to do, as taught in the training, is use a qualifying sign as you can get too many calls if you make it too simplistic. This same exact approach taught can be done with little sticky notes that you put up around town to get more MLM leads.
ROI is probably the most important metric in lead generation. The calculation is fairly simple: it’s the profit or loss you make from investing in a lead, compared against your initial investment. Let’s say you spent $15 capturing each lead, and a lead is worth $20 to you. Your profit from a lead ($5) against your initial investment ($15) gives you an ROI of 33%.
Remember when we talked about lead scoring? Well, it isn’t exactly doable without your sales team’s input. How will you know what qualifies a lead for sales without knowing if your defined SQLs are successfully sold? Your marketing and sales teams need to be aligned on the definitions and the process of moving a lead from MQL to SQL to opportunity before you even begin to capture leads.
Emails cannot just be used to communicate regarding the purchase but also can be used as a tool for marketing to ensure future purchases. Gathering new sales leads is important but it is equally important to retain the previous ones. Periodically sharing your company’s new launches and offers will not only bring the old customers back but also, their network with which they can share the news.
When an MQL displays sales-ready behavior, like requesting for a demo or signing up for a free trial, they become a sales qualified lead. These leads are usually handed over by the sales team to an Account Executive (AE). SQLs are close to making a purchasing decision, so the quicker the AE acts, the higher their chances of conversion. A good way to identify an SQL is by applying the BANT framework—do they have the Budget, Authority, Need and Timeframe to buy from you?
Notice their area code and make a comment, google the area code if you need to. “Hey, I see your area code is Dallas, is that where you are from or is that where you live?” Awesome, I have friends that live there, or, I’ve always wanted to visit, or, I was just there for a team event not too long ago” Say something that sounds natural to loosen it up a bit.
Cost per acquisition advertising (e.g. TalkLocal, Thumbtack) addresses the risk of CPM and CPC advertising by charging only by the lead. Like CPC, the price per lead can be bid up by demand. Also, like CPC, there are ways in which providers can commit fraud by manufacturing leads or blending one source of lead with another (example: search-driven leads with co-registration leads) to generate higher profits. For such marketers looking to pay only for specific actions/acquisition, there are two options: CPL advertising (or online lead generation) and CPA advertising (also referred to as affiliate marketing). In CPL campaigns, advertisers pay for an interested lead — i.e. the contact information of a person interested in the advertiser's product or service. CPL campaigns are suitable for brand marketers and direct response marketers looking to engage consumers at multiple touchpoints — by building a newsletter list, community site, reward program or member acquisition program. In CPA campaigns, the advertiser typically pays for a completed sale involving a credit card transaction.