Your three-legged stool continued…
I’ve built the anticipation of “why” (Good marketing on my part), now lets talk a little bit about what and how (this is the part where you listen and turn my words turn into money).
You already know we need more leads to make it all happen! You’re not sure what or how.. and you want to know!
I’ve spent a good deal of my career on strategy marketing in some of the harshest environments in the world: War zones, 3rd world countries, etc. Every environment is a challenge, though most of the time we make it more difficult because we don’t understand what we are doing.
So as much as I’d like to simplify this, it’s difficult because each company is different. Lead sources depend on industry type, sales cycle, personality of owner, etc.
I’ll throw out a number of different lead sources: Telemarketing, content marketing (very popular, includes your social media), email marketing (not in prime time, though a great way to increase business), cold canvassing (a buzz word I’m not a fan of), relationship marketing, direct marketing, Multi-level marketing, advertising, etc. I could name a lot more, however I’m here to help you make money and not impress you.
So out of the hat, I decided we would write about life coaching! I have a good friend who is a spectacular life coach, so I thought she might like to see her marketing strategy written out. By the way, on a side note…. We’ve worked in so many different industries over the years. My personal challenge for you is to call me with a business that we don’t have any experience in or know how to do. We’ll give you a $50 gift card for Amazon if you can stump us! How’s that for an incentive!?!
Now, back to life coaching…
Everyone wants to grow their business in this industry through referrals. These are fairly easy closes. However, no one wants to do the work to develop any of the other channels to get there. As Julia Roberts would say in Pretty woman “Big Mistake, Huge…. I have to go shopping now!” The reality is, you won’t be doing shopping in Beverly Hills without figuring out how to do these lead sources).
We had to develop strategies that would allow my good friend to get to her referral strategies as fast as possible.
Here’s what we developed:
- An awesome email campaign – We discussed multi-touch campaigns and decided we could write some great emails that would get a response rate well above average. We put contacts into a lead nurturing sequence. Most people go average here and test things out. Not Expect Success Coaching & Training!
- Content Marketing Strategy – People want great information these days and everyone is figuring out what to do with content. We decided where she had the best following and how to turn the following into high-quality leads for coaching. A little Facebook here, YouTube there.
- In person prospecting – She naturally excels at networking and connecting, why not make this part of her grow strategy? We just needed to add in an effective sorting strategy.
- Good Old Telemarketing – Not cold calling, that wouldn’t be effective. We developed strategies to warm up the prospects so they had 2-5 touches before we reached out. We used this as a baseline strategy because we know it consistently works if you do it right.
She was awesome at #3, but her business wasn’t growing as fast as she wanted because she didn’t have enough time to go out and meet new people. Also, with the information age she wasn’t converting as needed because she didn’t have the content to support the message. She is an easy case.
What makes each step work?
The key to each strategy is you need to have a measurable ROI that is above 500%. If it isn’t above 500%, find someone to help you perfect it so it is. It’s very easy to say “this doesn’t work” when in reality someone doesn’t really understand it to the level of expertise needed to execute the strategy.
We are preparing to launch this campaign, and we’ve done a number along these lines in the past. I can tell you with good accuracy what the cost per lead for each source will be. All sources should be above the 500% ROI if she closes at 10%… which I fully expect her to do because she is a rock star.
Now it’s time to talk about you!
Want to know what lead sources you should be using? Subscribe to this blog, and when the email confirmation comes across my desk, I will send you out a link to set-up a time to spend 30 minutes on the phone with me discussing how you can best reach your customers totally free! Let’s have some fun doing it together!
Looking forward to talking with you!
By: Bryan Rider!