This blog post concentrates on getting adequate sales leads–getting more prospective buyers to talk with. This is our specialty at Broker-ville. Although I use the example of a life insurance representative who desires annuity leads generated below, the same principals apply to any sales specialist like a real estate representative, mortgage broker, attorney, accountant, engineer, financial consultant, and so forth.
For most sales representatives, the remedy to far more prospective customers is a single word: MORE.If you make use of direct mail to get replies of interested prospective buyers, then rather than sending 500, send five thousand.
I’ve heard all forms of foolish replies to this advice to gain more prospects. Here are two of the most foolish:
1. But I don’t have adequate time to pursue all of those responses! Well then, send out only as many as fits in the time you might have or employ an individual that will help you and take advantage of their time to produce a lot more money. If you earn a hundred dollars, one hundred dollars an hour and can employ somebody to process the leads for an hour, do the math!
2. But I don’t have the funds to deliver 5000 mail pieces. Well then get a loan! That’s what Intel and IBM and ATT do. They borrow funds from men and women to construct plants, hire individuals, and so on. Should you have a winning formula (i.e. you earn money from 500 mailers), then it wont matter in the event you borrow cash on your credit card at 21% because you’ll rapidly repay it from profit.
In other words, stop being a wimp and think BIG.In case you want to have many more prospects, to generate much more profit, then after you have a advertising and marketing strategy that functions well, just expand it. Place your hand into your piggy bank, take out some cash and INVEST in your company.
A more advanced predicament is if you just can not increase your advertising and marketing due to the fact your cost per potential customer will rise. Here’s an example. If you advertise on Google utilizing pay per click marketing (Google Adwords), you will get only so many replies from an advertisement (key phrase) for ” INSURANCE LEADS in Phoenix” supposing your spending budget is $4 per response. But should you want to triple your replies, you could possibly need to bid more per prospect. You might need to spend an average of $7 per response to acquire many more prospective buyers since you are in bidding competition with other advertisers for the same or equivalent keyword.
If your advertising and marketing model will not handle a higher cost per prospect, then you definitely need additional advertising approaches.You have to uncover other approaches to create many more potential clients at the $4 per lead or adjust your revenue model (e.g. charge your potential clients more) to accommodate the $7 per lead cost.
For example, if we take the above scenario, when the click cost moves out of reach on Google Adwords, then open the Bing and Yahoo pay-per-click accounts. Or join an online affiliate system like Commission Junction where your charges will likely be affordable for running your advertisements on others’ internet sites. So either do much more of what you’re currently undertaking that works well or attempt the other options to grow the volume of potential customers. The reason most companies got squashed by the recession is that they did not make any alterations and kept carrying out the identical marketing activities when the rules of the environment had changed. The identical thing happened to the dinosaurs when the global temperature changed – they didn’t.