Read previous article in this series:
- Lead Generation System – Part 1: Setting Up?
- Lead Generation System – Part 2: Where Can We Find Right Persons?
Now when we have our list of possible places in the strategy of generating leads we can think about the attack on this places. You must know that you are not one and only that want to attack and attract more persons as possible leads for your business. Because of that it is important carefully to make strategy of attacking and attracting. Maybe this sound as a military terminology but those really are principles that was used in the military and war because attracting new customers is a not simple process. You will have rivals – competitors. This is similar as a war between businesses in attracting new customers.
But, until now we have several things that we already know:
- We want targeted leads that will have bigger probability converting him into customers.
- We know what is our strategic places where we want to attract that leads.
- And we want to define our activities to attract that leads.
Yes, the next thing that we must perform in building lead generation system is to map our path to collect contact details from persons that in the future will become customers. In this step, we will also continue with our Free Mind file where we previously have brainstormed places. Now, we will start with brainstorming possible ways to collect contact details from leads for each place. All of this will be included in our final strategy of constantly increase the size of lead database.
One simple principle that we must remember is that how much more we will ask for contact details the more leads will be generated. Something that I note in the previous post is that if we don’t ask for a contact details one thing is sure that we will not receive contact details. But, another important factor here is the conversion rate of asking.
Conversion Rate of Asking Potential Leads to Become Leads
Conversion rate of asking simple means the percentage of asked persons that will give us contact details or will respond positively. For example, if we ask 100 persons to give us contact details for future cooperation, and we receive 20 contact details that are 20% conversion rate of asking. Another example is our web site. If we have 1000 unique visitors daily and 100 of them opt-in for our newsletter or whatever, we give for that it is 10% conversion rate of asking. This is an important rate for our success. But, if we have successfully chosen our places with targeted potential leads this conversion rate will be greater. Another important element that has influence on the conversion rate is the way how we ask for contact details and what benefit, they will be receiving if they will give us contact details. All potential leads before they give us contact details will ask themselves “What’s In It For Me” (WIIFM).
Different places that we choose to use will have a different conversion rate. Because of that it is important entrepreneurs to measure this number to see what places give the best results and what can be excluded for the future. In this way, we enter in one never ending circle of continuous improvement of our lead generation system.
Now before we start with brainstorming let’s summarize the most important elements:
- First, we must attack the places with targeted leads. We have already done this.
- Second, we must always to think about improvement of the way of asking for increasing conversion rate.
- Third, we must measure our conversion rate.
Brainstorming Possible Ways for Collecting Leads Contact Details
The purpose of this is to find as much as more possible ways of collecting contact details. Don’t think about the quality of the asking or connecting type, only think for all possible methods that can be employed for generating leads. We can use for brainstorming purpose the same file from the previous step but only for marked places that we choose to use for lead generation purpose. After brainstorming, we will have something like this:
Now we have brainstormed all possible ways to ask for contact details, and we can start with choosing the best ways.
Choosing the Best Ways to Asking for Contact Details
When we have all brainstormed ways we can analyze them and choose the best that will be included in our strategy for lead generation. Here also is important to consider the 80/20 rule that means to choose 20% of brainstormed ways that will bring 80% positive responds about contact details. Some of the places will have only one way, and there we will use that way. But, some of the places will have more than one way brainstormed, and we must choose several that will bring the great results. There are two most important elements to consider for this purpose:
- How much will be conversation rate?
- Can we automate the process?
We must conduct some research about a conversion rate of each of the ways that we brainstormed and also to see if there is possible automation of the process. The results must be the 20% of the ways that will have 80% of conversion rate and 20% of ways that will give us 80% automated process. Some of the ways cannot be automated, but they are not in the place in everyday job. We can mark all the chosen ways with the Free Mind to know what will be used and what will not be used.
With the process until now we finished with the planning level of the lead generation system. We know the places where will find targeted leads, and we choose strategies for collecting contact details. Now we can start with real work to build a relationship that will convert leads into the customers and to grow our list of leads.
Next in this series:
- Lead Generation System – Part 4: How we can build a relationship with the persons?
- Lead Generation System – Part 5: How we can grow the list?
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