Are you looking for business building tips and ideas?
I’m live every Tuesday at noon (EST) on the Ignite Your Market Facebook Business Page.
Join me live or watch for the replays on my blog – The Spark.
Each week I’ll be sharing tips and ideas to help you:
- Identify your market and opportunities.
- Increase your productivity.
- Connect with your client and prospects.
- Ignite your markets and your businesses
Facebook Live: 5 Steps to Review Your Marketing Channels – Time Versus Leads
Last week I talk about Committing to C.A.R.E. to Increase Your Visibility. Why do businesses want to increase their visibility? Increase visibility generates traffic to our business and ultimate generates leads that result in a percentage of them buying your products and/or services.
What is a lead? A lead is a qualified potential buyer who shows some level of interest in your product or solution. Each of us is going to define a lead differently, what is important is that you have a definite for your business and it might differ depending on the sources of the lead.
Where do leads come from? Leads come from many different marketing efforts. I find it useful to divide them between online and offline leads. Online leads typically come from your website and your social media efforts. Offline leads come from networking, referrals, cold calling, print advertising, events, and speaking.
Exercise: Review Your Marketing Channels: Time Versus Leads
- Marketing Channels: Write down where you are spending your marketing efforts, for example:
- Cold calling
- Time Spent: Add how much time you spend each on each one
- Leads generated: Rate each one as to the number of leads it generates. Depending on how you’ve been tracking you can rate them from 1 to 5 or assign each a percentage.
- Evaluate the results: What does it look like? Are you spending your time in the right way? Are you dedicating time to your best lead sources?
- Adjust: Based on the results what adjustments will you make?
One common situation I see with my clients is they are spending a larger portion of their time on their online marketing and it isn’t their best source of leads. They find better-qualified leads by networking and from referrals but they are not spending enough time nurturing those channels. For example, I have one client who knows she can generate her best leads by doing presentations to her community but wasn’t dedicating enough time to it. As soon as she disturbed more time towards doing presentations she increases her leads and ultimately increased her sales.
Is yours balanced? What adjustments do you need to make in how you are allocating your time so that you are giving your best lead generating sources enough attention.
It is important to keep track of where your best leads are coming from and make sure that you are allocating the right amount of time to that marketing method. It is so easy to get caught up in the “you should be doing…” and you get pulled away from marketing to your best source of leads. This is a great exercise to do once every 90 days.