1. Set your objectives
2. Allocate your time and budget
3. Select your marketing approach
4. Test
5. Evaluate

1. Setting Objectives.

The first part of creating your Lead Generation System is to set your objectives. One of the best ways to decide upon what your objectives are going to be, is to do a marketing audit, to identify what has already worked, what hasn't worked, what your marketing achievements have been, identify your disappointments, what you've learned, and what you are going to do differently over the next 12 months.

2. Allocating your time and budget.

The next part of your lead generation system is to decide on a budget and schedule that you dedicate to your marketing. Many people tend to view marketing as an expense instead of an investment, and most businesses know how many sales they need, but very few actually know how many leads they need. Ironically, this is what they're marketing is spent on - generating leads. There is a very useful formula for working this out -

a) What income do you require per week b) What is the profit per sale/transaction you offer c) Divide a) by b) to give you the number of sales you need d) Decide on what your closing ratio has been and is (e.g. 1:2, 1:5, 1:10) e) Multiply c) by d) to determine the number of leads you need f) You will know how much available marketing spend you have, so simply divide that by e) to determine how much per lead you can sensibly afford to spend.

3. Selecting a marketing approach

Your Lead Generation System can utilise a number of methods for generating leads.

So the question is….

Which approach do you use first?

The answer is revealed in part 1 of the process - do what has worked previously for you. If however cashflow is good, and you have calculated your available budget and schedule using the very simple formula outlined in part 2. You may wish to test one or two new approaches on a limited basis, before deciding on which method to "roll out".

4. Testing

Many people have a lead generation system that utilises just one marketing approach…what happens if that channel, tactic, or strategy fails for whatever reason? They have to try a new approach. (Even "Networking" as a channel has lots and lots of indirect and hidden marketing costs that people tend to forget about - train fares, tube fares, taxis, coffees (Lates, mocha and espressos which ever one you choose) , lunches, Beer, chardonnay...it all adds up and drains your cashflow. )

How cost effective (and successful) is your current marketing strategy?

There are 3 fundamental errors people tend to make when testing a new marketing approach.

They focus on what they OFFER the client.

They focus on what they DO for the client

They focus on THEMSELVES - not the client.

Whichever Marketing approach you test, ensure you rigidly stick to this simple formula -

a) Identify your target market and audience - and build a prospective client "profile" b) Ensure you have a list of client problems that you know you can address c) Ensure you know your product or solution that you are offering your clients d) Have a clearly defined pricing strategy to help your casfhlow whilst the bigger deals take time to "land" and "close" e) Have a well articulated message for your target audience that highlights b) and c) above. f) Ensure you have implemented 2) in your Lead Generation System before you begin testing. g) Decide on a marketing tactic - and try it, ideally for a period of 4, 8 or 12 weeks.

5. Evaluating your Lead Generation System

Remember part 1 - your objectives? Use these as your Key Performance Indicators or mile stones to monitor the effectiveness of your lead generation system and marketing campaign. Here are some indicators you could use to monitor the effectiveness of the system -

No, of new ezine subscribers

No. of new signups or downloads for your FREE "teaser" offer

No, of words or square centimetre columns (scc) coverage you got in the press

No of Appointments

No. of business cards collected

No. of referrals

No. of affiliate signups

No. of qualified sales leads

No. of sales

Determine which of the marketing approaches you are using is generating the most progress and business for you. If you are continually using a strategy that Is ineffective - drop it, and test a new approach.

Remember, in a condition of need, when you're short of new business, it is hard to hide that, and when you're "needy" that feeling of neediness, even desperation is apparent, because you are preoccupied with you, and your focus is on you and you tend to talk about what you HAVE, what you can DO, not what the client GETS or NEEDS.

Your prospective clients are preoccupied with themselves, and their problems too, that's why it's important your lead generation system is set up correctly so that it isn't YOU focused and it is client focused.

Setting up a Lead Generation System can and does take time, but once created, can run like a well oiled engine, if the process above is followed. Many self employed service providers who don't have a lead generation system in place for their business very quickly believe that marketing is a waste of time and even begin to doubt whether self employment is actually for them.

A Lead Generation System can and does work, but you have to start thinking differently and then taking consistent action with your new thinking. This new approach can be place you out of your comfort zone, can be perceived as HARD WORK, even frustrating on occasion - but it can pay enormous dividends, and even increase the Life time value of a client by as much as 100 - 500%.

So, stop pushing people away, start attracting new prospective clients in their masses because you have something they want - the promise of a solution that works.

Hope this helps.

Regards

Fraser