What to Do When Your Leads Run Dry

LeadsHere are some useful suggestions that may help you generate the right leads.

Most businesses are going through hard times, especially when it comes to sales. In fact, a lot of marketers feel that their leads have gone dry. This is alarming since identifying and generating new leads can be as important as refining the sales pitch or closing a sale.

Needless to say, a sales team cannot be successful without leads. So, what should you do when you are running out of leads? Here are some useful suggestions that may help you generate the right leads.

Consider forging beneficial relationships with the competition. Times are tough so you should consider settling your differences with the competition. Keep in mind that there is a lot of money to be made so join forces with some of your industry rivals to increase your chances of growing your business.

Promote your business locally. While nothing is stopping you from extending your reach and doing business anywhere around the world, promoting your business locally (ideally within a 2 to 5 mile radius from where your business is located) can help you generate more leads.

Use the power of the internet. Identify a particular industry where you have had success in the past and focus your energy on prospecting within that industry for a period of time (e.g. one week). Use the search engines and social media to collect names and contact information of your prospects and create a spreadsheet to organize the information. The effort you put in this part of the project will definitely pay off in the long run so don’t cut corners.

Make the call. Cold calling is not dead so pick up that phone and make that call. Remember, your goal is not to make a sale on the first call but to land a meeting with your prospects. Once you have succeeded in doing so, you need to impress them to increase your chances of moving them along your sales funnel. Don’t forget to follow up and ask if they know somebody who will be interested in what you have to offer.

There are times when your leads will eventually run dry. It happens even to the best marketers so don’t fret. Just keep building and nurturing your network and you will have a better shot at success.