How To Generate Quality Prospects

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This FREE report reveals how to generate quality prospects for your business or organization.

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How To Generate Quality Prospects

  1. 1. How To Generate Quality Prospects By Kennard Brown, MBA How Companies Generate LeadsLEADSEvery business must have a constant flow of leads to survive. What are leads? Leads are people thathave expressed interest in your service or product. Another name for leads is Prospects. Many peopleconfuse leads with suspects. Suspects are people that may be interested in your service or product. Yet,you have not contacted these suspects to see if they are interested. A major part of any type of marketresearch is to locate suspects that have a high probability of being interested in your service or product.GENERATING LEADSWell, how do companies usually generate leads? Companies generate leads using differentmedium. Mediums are sources where companies advertise. According to Coen’s 2009 US Ad Spend byMedium, the following are the most popular media (plural for mediums) in reference to spending:  Direct Mail ($58.43 billion)  Broadcast TV ($40.51 billion – network, spot, syndicated)  Newspaper ($31.61 billion)  Cable TV ($21.65 billion)  Radio ($16.46 billion)  Yellow Pages ($13.2 billion)  Consumer magazine ($12.05 billion)  Internet ($11.94 billion)  Other ($52.85 billion)According to Business Insider, TV spending up to 2012 will increase to over $200 billion dollars followedby direct mail spending at $150 billion dollars.Direct mail is the medium that companies spend the most advertising dollars. Companies prefercontacting suspects and prospects remotely & directly. Yet, integrating direct mail with other low costmediums (Telemarketing and Internet) that are designed to get the suspect or prospect to respond willultimately increase sales and lower advertising expenses. Direct marketing & copywriting expert Bob Blyin his excellent book The Complete Idiots Guide to Direct Marketing (pg. 4) states:
  2. 2. "Direct Marketing is any type of marketing that seeks some sort of reply from the reader, typically byphone, mail, e-mail, or fax. Direct marketing print materials usually have response coupons or reply cardsyou can use to request more information or order the product. Direct marketing TV and radiocommercials typically use toll-free 800 numbers (and nowadays, 900 numbers as well). Many encourageprospects to respond via e-mail or visit a website."Please complete our Prospect Generation No-Charge Consultation form so that we can develop a costeffective direct marketing program for your organization. How To Develop An Effective Marketing PlanDeveloping a marketing plan is not really hard when you know how. The following is based on REALWORLD experience NOT theory.RESIDUAL INCOME & HIGH PROFIT PER SALEYou need to generate income two ways for your business to survive:  Residual Income  High Profit per SaleResidual income is income that is generated every month. You make the sale once and the business orindividual that you sold buys your service every month. If youre looking to increase sales for yourbusiness, then you must offer a service or product that will produce residual monthly income.Examples of Monthly Residual Income:  Utility (Telephone, Gas, Electric) Service  Insurance  Financing (Cars, Real Estate & Credit Cards)  Groceries  Any consumable product that has to be replaced monthly  Online subscription services  Any monthly service  Vital marketing services like telemarketing and direct mailThe great thing about offering a service or highly consumable product that generates monthly residualincome is that the more people that you sell, then the more money you will generate. This is why manycompanies on the Fortune 500 list sell highly consumable products or services.If you dont desire to sell a service or product that produces consistent, monthly residual income, then youmust sell a product or service that generates a very high profit. 2
  3. 3. Example: You are a marketing consultant and you survive by producing just 4 sales per year. Your costof sales is only $1,000 per sale. Yet, each sale is $25,000. So, your profit is $24,000 every three monthsfor a total of $96,000 before taxes per year.Examples of High Profit Per Sale Income:  Consulting  Information Technology Service for Businesses  Professional Speaker Service  Any service or product that is high priced and has a very low cost of salesIf you have to make a lot of sales per month to just break even, then your business is in danger of beingeliminated.THE FOUR AREAS OF CONCENTRATION FOR AN EFFECTIVE MARKETING PLANAccording to 7 Steps To Freedom II by Benjamin D. Suarez (1994) pg. 2-6, these are the four areas ofconcentration for an effective marketing plan:(1) Demand For Product: What kind of service/product do you plan to sell and market and is there aGREAT demand for it?(2) Effectiveness Of The Sales Promotion: What type of marketing message and materials will you useto promote your service/product?Please understand that your marketing message is different for each service/product that you offer. If youare going to utilize a marketing message that is working successfully for another service/product, thenyou must test the application of the message toward the new service/product before considering toregularly use it. Dont assume that it will work for the new service/product. If a marketing message issuccessful for one of your services or products, then dont permanently change the message. Test thenew message. If the new message is more effective, then use it.(3) Quality Of The Prospect: Who is your ideal customer for your service/product?(4) Efficiency Of The Medium To Reach Prospect: What type of medium will you use and is itefficient?The answers to the above questions will produce a marketing plan for your business. Of course, you willneed to charge a profitable price.Please complete our Prospect Generation No-Charge Consultation form so that we can develop a costeffective direct marketing program for your organization. 3
  4. 4. TARGET MARKETRealize that everyone will not buy your product or service. This is why you need to find out WHO willhave a high probability of buying your product or service. One of the most important things that you mustdiscover is the target market of your product or service. Try to picture target marketing like playing agame of darts. Your goal is to hit the bulls eye with your product or service. Visualize hitting the bulls-eye and a lot of money spills out of the bulls-eye. This is how you should approach each product orservice that you plan to sell. Lots of money should spill out because you are offering a valuable service orproduct that is in demand.Target market information for consumers usually is the following:  Gender  Age  Income  Location  Buying patternsClick Nielsen to find out what marketers know about you and the people that live around you! When youget to the website, just input your zip code. You can also utilize this information to prepare for aconsumer-marketing program.Target market information for businesses usually is the following:  Annual Revenue or Sales  Number of Employees  Location/Geography  Decision maker (C-level Executive or Middle Managers)  Type of BusinessThe size of businesses:  Very small (1 to 19 employees)  Small (20 to 99 employees)  Medium (100-499 employees)  Large (500+)Analyzing your own customer database for consistent buying patterns and characteristics can producetarget market information for consumers & businesses. Companies like Nielsen can do this for you. 4
  5. 5. If youre just starting out or you are diversifying, then you must find out the target market of anyservice/product that you desire to sell by asking companies that sell similar services/products or byconducting industry research.RESOURCES TO HELP YOU DEVELOP A MARKETING PLAN  Ultimate Business Planner - SBA recommended business plan software  Hoovers Online - Industry & Business Information  Plunkett Research, LTD. - Industry & Business Information  U.S. Census Bureau - Industry & Business Markets  Polk City Directories - Local Market Concentration  SRDS - Leading provider of media rates and data for the advertising industryFORMULA FOR INCREASING YOUR SALESThe concept of the following formula is from The 17 Principles Of Personal Achievement by Napoleon Hill(1997) pg. 75:Q1 + Q2 + MA = INCREASE OR DECREASE IN SALESQ1 = Quality of service or product renderedQ2 = Quantity of service or product renderedMA = The Mental Attitude in which it is renderedIf you increase the quality, quantity and positive mental attitude associated with your product or servicerendered, then sales will increase.THE IMPORTANCE OF GIVING SOMETHING OF VALUE TO YOUR PROSPECTS, CUSTOMERS ANDEMPLOYEESThis FREE report is an example of giving something of value. We could easily charge for thisinformation. To be TRULY successful in your business, you must show that you care about yourprospects, customers and employees by giving something of value for FREE. One way successfulbusinesses do this is by offering advertising specialties. The promotional product advertising industry is a$19 billion dollar industry and many companies annually invest to have their logos imprinted on watches,jackets, shirts, hats, bags, calendars . . . etc. You should utilize these promotional products to buildloyalty, improve employee performance & company image, attract customers, revive inactive accountsand generate new prospects.For more information on using promotional products for your business, please complete the followingonline forms based on your needs:  Promotional Product No-Charge Consultation  Promotional Product Company Store Program ServicesPlease complete our Prospect Generation No-Charge Consultation form so that we can develop a costeffective direct marketing program for your organization. 5
  6. 6. Internet MarketingCompanies are interested in generating leads of people who are actively searching for a need. SEO &social media marketing are perfect for attracting people who are searching for solutions over the Internet.I offer via National Positions a program called Internet Marketing 3.0 which is a complete 3 step Internetmarketing program designed to make your business website dominate the market through the effectiveintegration of:  Search Engine Optimization, for your keywords, content, and linking.  Name Branding and all aspects of Social Media such as social profiles, social bookmarks, and blogs both on and off site, press releases, article submissions, videos and video optimization, FaceBook, Twitter and more. Search engine spiders are constantly crawling off site content and social media has become extremely important in garnering rankings.  Conversion Booster, which increases the sales revenue conversion rate of your website traffic without increasing your advertising budget. Until recently only the large companies with massive budgets had the resources to perform multivariate and split testing. Today with National Conversion Booster and Google Website Optimizer, companies of all sizes can boost their conversion rates. Companies can see their conversion rates increase by 100%, 200% or even 300%.If you are open to it, I would like to offer you a free no charge consultation and analysis of your website,and how National Positions can benefit your business. It is an educational experience.Based on my 21 years of sales & marketing experience, the best way to generate only hot or warmprospects is the following: 1. Referrals 2. Internet marketing (this involves SEO & Social Media marketing, Pay-Per-Click, using White Papers, E-mail Campaigns and Online Videos) 3. Postcard marketing designed to motivate prospects to go to your website and/or call your business 4. Direct mail sales letter designed to motivate prospects to go to your website and/or call your businessWhen people contact your business they are usually looking to invest in a product or service. The fourabove marketing techniques are designed to influence a prospect to contact the company. It is wise toutilize and combine all four marketing techniques to help lower the sales cycle. B2B TelemarketingTelemarketing is the ability to contact decision makers via phone and influence them to consider buyingyour service or product. Telemarketing is generating prospects over the telephone and Telesales isgenerating prospects and closing the sale over the phone. 6
  7. 7. Telemarketing is used by companies that desire hot, warm and cold prospects (any prospects-anyonewho is interested in a service or product regardless of length of sales cycle). They are not concernedabout a long sales cycle. In most cases, you will have a longer sales cycle by using telemarketing-mostpeople you contact are not ready to buy right now (hot prospect) or soon (warm prospect)-there is not asense of urgency. Telemarketing still is a good way to generate prospects who are interested in yourservice or product if you dont mind long sales cycles. It is also a good way to follow up after usingreferral, Internet, postcard and direct mail sales letter marketing techniques.Business-to-Business (B2B) telemarketing is a cost efficient medium for advertising. Consider that manylong distance companies offer unlimited calling packages. Ultimately, this will save any companyTHOUSANDS OF DOLLARS by utilizing telemarketing as a lead generation medium. According to GetClients Now! (1999) by C.J. Hayden pg. 9-19, the most effective marketing strategies for servicebusinesses are:  Direct Contact and Follow Up  Networking and Referral BuildingB2B telemarketing is PERFECT for direct contact. Many companies are utilizing telemarketing to costeffectively generate quality prospects.  According to Telesales (2003) by Steve Schiffman pg. 41 and 48, the average telesales/sales ratio is 20 conversations with decision makers = 5 prospects = 1 sale (20:5:1).  EVERY SALE MUST BE REPLACED BY 5 ADDITIONAL PROSPECTS  80% of sales are made on the 5th to 12th conversation with the same prospect (National Association of Sales Executives)  Best time to call is between 9:00 am to 10:00 am to reach someone for conversation (American Telesales Association) Dial SpinsIt is very important to make enough dials per hour so that you can speak to a sufficient number ofdecision makers. According to the Advertising Managers Handbook Second Edition by Bob Bly(pg. 365), the average dial spin metrics are presented in the following tables.Businesses telemarketing dial spins Dial spins per hour 20 to 40 Completed decision maker presentations per hour 5 to 9In reference to B2B telemarketing: The larger the company (500 and more employees)-the more difficultit is to get in contact with a decision maker. In the Fortune 500 world of B2B Telemarketing, voice mail isa very popular method of communication for cold calls. Kennard L. Brown can develop a solutioncustomized for your company that will give you the ability to effectively & successfully contact Fortune 500company decision makers. 7
  8. 8. Consumer telemarketing dial spins Dial spins per hour 40 to 60 Completed decision maker presentations per hour 9 to 15 Marketing Tools for Your BusinessClick on the images below for more information on the following innovative marketing tools for yourbusiness: © 2012 Kennard L. Brown 8

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