The first part of any sales cycle or process is to identify new customers and prospects and it is perhaps the most critical point of the sales cycle. This ensures that at all points in the year, you have a pipeline full of potential clients that you can sell your products and services to. The wider you are able to cast your net among well-qualified leads, the better for you. Here are a few techniques for generating new leads for your business:
#1: Newspapers and The News:
News stories and reports in the conventional media are a very important source of new leads for any business. You can find people who will be interested in your products by gleaning the press, and you can also be better aware of developments in your competition, industry and markets that may affect your business from the news. Savvy sales professionals pay attention to the news.
#2: Social Media:
By being active on social media – posting, chatting and commenting on others’ posts you can find new customers who may be interested in some of your posts and comments and create a pipeline of sustainable sales for your business.
By interacting with groups of people outside your work – socially and/or professionally you get a chance to listen to their needs, position your products and grow the number of people within your sphere of influence.
#4: Thought Leadership:
By volunteering to give speeches, mentor or even write about certain areas of work and life, you are building credibility in that area and can influence your audience to purchase your products that may be related to that area.
#5: Market Data and Analytics:
Invest in tracking trends, collecting and analyzing data about your products, market and industry. The information could help you in understanding the buying decisions and patterns and positioning yourself better to take advantage of such patterns and trends – it’s about hunting where the ducks are!
#6: Referrals, Cross-Selling and Up-Selling:
You can generate lots of leads by proactively seeking referrals from your existing customers and also by cross-selling and up-selling new and exciting offerings from your organization to your existing customers. This way you are growing not just your sales, but your share of wallet for each of your customers and turning them into sponsors/advocates for your organization.