A theme has been emerging from a couple of meetings I’ve had in the past days. It’s a subject that appears dull but can be the strongest possible boost to growing your business.
Lead Management.
What is it?
The process by which prospective customers are attracted to your product or service, make themselves known to you and from which you move them towards a purchase.
Vital. Consider it a chain of events that lead to a conclusion that in itself can become the start of a new chain. Sometimes called "closed-loop" marketing.
Write down the chain as it happens in your company.
Are there any breaks in the chain; anywhere that information can be ‘lost’, forgotten or drop down the cracks between one person and the next in the chain (technically called a hand-off).
I was talking to the Manager of a consulting firm who felt she couldn’t keep track of the pipeline and the current jobs the firm was handling. They use ACT! as their sales tool.
I made two suggestions
1 - keep a spreadsheet for two months of your prospects and clients fees and use the weekly team meeting to update it
[this is a near-manual work-round - but it should serve to keep a regular focus on prospects, invoicing and revenue streams. When they’ve used it for a couple of months, I suggested creating a report from ACT! to subsitute and automate the process]
2 - tracking current client jobs. Write a single page template summary for each job. Keep them in a marked coloured folder on your desk, i.e. somewhere public, and hand-write updates on job stage, sub-contractors, payment terms, next action dates. Then each team member can access the file at any time and it’s readily at hand when you have a quick thought or something changes.
3 - Put a recurring diary note in to block out time each month to write your monthly report with a reminder to email the team 2 days earlier to send in their information for your report.
Oh, that was three suggestions…
I am out of the office now but will add the spreadsheet template later for anyone who wants to use it.