There are proven strategies that can help any businesses owner turn their dry sales pipeline into a flood of new customers.
Making money is an art that can be learned. There is not just one way to make money, but it can get quite confusing on how to accomplish it. It all comes down to one thing…sales.
No matter the industry all types of companies have one thing in common, generating sales is what untimely make them money. If a company is consistently bringing in new customers, they are producing income, and will most likely succeed.
A recent study by Infusionsoft boasted that driving sales is by far the number one goal for small business owners. The process for entrepreneurs to become successful seems so simple. Start a company. Generate sales. Make money. Become successful. Live the dream.
On the outside, the formula seems quite easy, but most companies that fail is because they never thoroughly learn how to generate sales. They've never been taught the art and are trying to figure things out on the fly.
There are lots of strategies to generate prospects which ultimately could turn into sales. Facebook advertising. Youtube marketing. Instagram. Radio announcements. TV spots. Blogging. All these can be useful ways of creating cold prospects, but the hard part is turning those prospects into hot leads.
In my company Care Ultima, I've found success where most can only dream. We've successfully landed a partnership with Amazon and their employee resource center to serve their employees. We've gotten responses back from executives from Costco, Sams Club, WalMart, and many more Fortune 500 companies.
We've figured out that there is indeed a formula for achieving success where others can't. There are indeed five guaranteed ways to turn your cold prospects into hot leads.
1. Target small
Prospecting is like casting a net. Imagine if you were to try and catch fish and you decided to go out in the ocean and randomly throw a net. As big as the sea is, your most likely going to fail because your targeting is too broad. You have to really narrow down on your target market and understand exactly who they are. Narrow it down by the industry, and even by the sub-industry. The smaller and more exact your targeting is, the more successful your marketing campaigns will be.
2. Solve their pain points
Understanding your prospects pain points is critical. Once you know what it is that hurts them, you can strategize how your product or service eases their pain. People don't like to be sold, but everyone wants to have their pains go away. Stop trying to sell them and start figuring out how your product can ease their pains, and you will see your prospects clamoring for your services.
3. Cater to their desires
Fortune 500 companies understand the importance of delivering value to their employees. They are continually looking to add more value to their employees as it is typically cheaper to retain an employee than it is to hire and retrain a new one. I studied my target market, and I focused on delivering on their desires. This strategy was crucial in getting the attention of major corporations, which is extremely hard to do. I researched them, studied them, and understood what their desire was, and I offered a tailored solution for what they wanted. This strategy has allowed us to succeed where about 99.9% of others fail.
4. Stroke their ego
It's human nature to want to feel important and valued. It makes people feel good when someone comes to them for advice. Your prospects are more likely to open up and trust you when they see you coming to them for information. Understanding the strengths of your prospects and what they are good at, and then humbling yourself and asking them for help, advice, or just praising them will bridge the gap of trust and push them further down the sales pipeline.
5. Follow up.
It took 32 emails before I got a response back from Amazon saying they accepted my companies application as a partner. Imagine if I would have stopped after the first email when I never got a response back, or the second, or the third. There is a fine line between not being annoying, but following up is vital. Around 65% of my hot leads come from follow up correspondence. In marketing, it's common knowledge that a customer has to see your ad seven times to remember it, and the same goes with following up. If you want to turn your cold prospects into hot leads, it's imperative to implement a follow-up system with ideally 4-7 follow-ups.
World-renowned author and strategic advisor, Dan Kennedy, proclaims about following up “To maximize your sales, you must use multistep follow-up sequences that incorporate and orchestrate direct mail, phone, email, fax, voice, and other media. Some prospects will respond to your call, others to your email or letters, and others to more innovative options, such as invitations to teleseminars or webinars”.
Putting it all together.
Learning new things is easy, but implementing them is the hard part. Take the initiative and execute these steps into your prospecting. By applying these strategies in all your marketing your guaranteed to see your cold prospects turn into hot leads.
Ryan Peck is a cold-email king, leads generator, and business consultant. He is the founder of The Leads System and Care Ultima. His cold email campaigns have landed him a partnership with Amazon, and negotiations with numerous Fortune 500 executives. He is a contributing writer for Entrepreneur Magazine.