5 Ways to Take Control of Your Lead Generation.
Every week I publish a post on how to improve your window covering business. For the next 6 weeks I will be diving into the #1 problem of every window covering retailer: Lead Generation. Figuring out how to generating leads is what keeps us up at night. Lead generation is what stresses us out more than any other issue. Taking control of this issue will give you the freedom to enjoy your business, relax more, and earn more profits. I will be covering several issues in this series.
1) Evaluating what you have now and your goals.
2) How many sources do you use to generate leads?
3) Developing your Avatar
4) Do you know your KPI’s and Numbers?
5) Success in the Window Covering Business.
Every month I am blessed to meet with several other business owners. I’m in 2 different groups. One is a Mastermind group and the other is Christian Business Owners group. We meet monthly to discuss business issues and help one another. The members range from a guy with 179 employees to guys like me who only work by themselves. The conversation ranges from “How do I motivate my employees?“ to “How do I fire my Dad?” However, the #1 issue is always Lead Generation. No matter what business we’re talking about it’s always, how do I get more customers?
Before you can generate more leads, first you must have control of what you already have. It doesn’t matter if you only sell 2 jobs a week or 20. You must have systems in place to handle the leads in a systematic and scalable way.
I like to say, “You Need to Prepare Your Business For Success.” If you’re not prepared to service more leads, then you’ll do more harm than good. GET PREPARED. Doing this when you’re small is much easier than when you’re too busy to keep up with it.
I’ll recommend 2 books: The E-Myth Revisited by Michael Gerber and Duct Tape Marketing by John Jantsch
To get stared you will need to know how many leads you generate each month and how much each lead cost you. Simply divide your hard marketing cost by the number of leads and that’s your cost. If you spend $1000 a month on marketing and advertising and you generate 20 leads, the cost per lead is $50. Many owners take that to the next level and apply it to the closing rate. So if you close 50%, then each lead cost $100.
Then let’s say the average job nets $1000. If you now know the lead cost is $100 per customers and you profit $1000 per job, it could be said your ROI is (marketing cost is) 10:1.
Now you know how much you can spend on leads. This number will give you a baseline from which to make decisions.