Finding New Buyers (Part 1)

Finding new buyers is critical if you are to grow your business and to avoid being a Prisoner of Hope as I shared last week.

Some want to grow. Some don’t.

I mean, settling for what you have is ok right?

Yes, to many it is.

Sadly, I have a mindset which doesn’t let me stop. Not sure why but I am always pushing for more. Can’t help it.

If you recognise this feeling then read on. This week’s and next week’s emails are perfect for you.

If you are hungry to drive sales and business growth in your business, you have 2 ways to find leads.

There are no other ways to do this.

  1. Inbound Leads – You drive new opportunities to come to you.
  2. Outbound Leads – You go and find the ideal customers for you.
 

There are many similarities between the approaches to take (adding value, being helpful, sharing insights etc) but there are some subtle differences as well.

Let me outline a simple model to use to drive Inbound leads this week and I will then share a model to use in next week’s email to drive outbound leads as well.

Most people will prefer this method as ‘reaching out to people you don’t know’ is hard and no one seems to like doing cold outreach anymore.

But let me be clear.

This method can take longer and is more expensive in my view. If you also combine this with digital marketing spend (in areas such as Google or Facebook advertising) then it can cost much more.

So much so that I think you should understand your Long Term Customer Value and Customer Acquisition Costs properly before spending too much here. Not sure what these are? Here is a link to a glossary of Sales Terms I did a while back.

So let’s discuss generating Inbound Leads. Here is a simple acronym to use for this.

This 7-stage process works and I have used it with a range of customers such as Trade Nation and Green Hat to drive significant growth in their businesses.

Before we get into the process itself, the starting point of ANY growth process is ‘Why does someone want to buy’ and this is all about either a Problem or a Desire. My podcast this week covered this in greater detail but you have to know this if any outbound campaign is to work.

So let’s assume that you KNOW what problem you solve for a specific audience of people…

HOW CAN YOU GET NEW INBOUND LEADS?

C - Stands for Content

You MUST create valuable content that talks to the problem that your audience faces. What are their key challenges and what is the impact if they don’t solve these problems? You don’t have to give all of your knowledge away with content but you want to give 1 or 2 ways in which the person can solve an issue. The goal here is to make them feel you are valuable, helpful and a company they want to engage with.

The better the content, the more viral it will go and the less you will have to spend to promote it.

O - Stands for Obtain

Sharing content is what so many people (me included) see every day and the majority of us will see things but not act on them.

 

Likes and follows don’t pay the bills so if we are to grow our business we need to obtain information from potential customers. This can come in the form of lead magnets, downloads, quizzes, the list goes on. But you start the sales process by capturing basic details from a potential buyer such as their name, contact information and company details.

N - Stands for Nurture

Many might provide you with information in return for access to a resource but it does not mean they are ready to buy straight away.

 

Some might be but most are at this stage MQL’s and not SQL’s. Just as you wouldn’t pull a carrot out of the ground 3 weeks after you have planted the seed, so you need to nurture and cajole these POTENTIAL customers.
 
Some will come on the journey with you, some won’t. But you are highly likely to fail if you try and treat them all as hot leads at this stage

V - Stands for Validate

At the right point in the process, there comes a time to have a conversation with the other person.

 

Just to be able to validate where they are and what their position is. They may just be browsing or love your content but would have no way of affording what you do. We have to be able to validate their position and qualify them. Doing this now saves time and also allows you to use technology to nurture those who aren’t ready to buy right now.

E - Stands for Engage

Engaging and adding value is the next part of the process once you know someone is a good fit.
 
Good companies who understand what is required to drive growth know they need Sales Blueprints in place to engage in buyer conversations in the right way.
 
They train themselves and their team on how to ask the right questions at the right time to see if this potential buyer is a good fit for them.

R - Stands for Reaffirm

At this point in the journey, buyers are keen to do business (if we have done the other steps well) but at this point, it’s about reaffirming and getting them to own the problem they have and also reaffirming why you are the perfect choice for them to solve their current situation.

 

This is the bit where we ‘sell’ and showcase our solution. Notice it comes down towards the end of the process and not at the start which is what so many companies do!

T - Stands for Transact

The final part of turning a potential buyer into a customer!

The bit where we close effectively and get money in the bank!

Making it easy for a buyer to buy and ensuring you then deliver on what you have promised. We can do all of the sales and marketing we like but until they commit and work with us, it’s of no value. But when they do, then it’s a fist pump and time to celebrate!

There you have 7 simple steps to drive Inbound leads for your business or area of business. Not complex but a fail-proof method to generate opportunities.

The whole journey can take time, but its something you should have in place at all times.

If you are struggling for leads and want opportunities to come in sooner than this then you need to do outbound lead generation. If your ship doesnt come in then you have to swim out to it! Want to know how to do that? Only 7 days to find out!

PS – Enjoy the Inside the Mind of your Buyer blog?  Believe they could benefit someone else?  Get it first as an email every Saturday morning by signing up here: 

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