The 8 Things You Need to Consider Before Working Leads
By Scott Adams
The biggest mistake I see a home-based business professional make when deciding to work leads in their business is they rush to make a purchase or they make a purchase based on a flashy sales presentations. They end up purchasing the wrong lead or they are not as equipped as they need to be in order to be effective and efficient working leads.
So before you make that purchase for your business review these 8 critical areas so you can make an informed and educated decision on which lead and lead company is best for the success of your business.
1. Treat it as a business – You must feel as if you are hiring a Marketing Partner when you buy leads from a Lead Company. Spend time researching your new Marketing Partner as if you were hiring a new employee for your business. They work for you, so know and understand what they do and how they do it.
If you find yourself in a situation that your lead list didn’t produce the results you expected whose fault is it? Yes YOU! Remember they are the pros at generating leads and you must be the pro at selecting the right lead and converting the leads into revenue. So do it right from the beginning and get to know your new Marketing Partner and don’t be afraid to ask questions….it is your money you are investing.
2. Understand the Stopping Point of a Lead – You must understand where your Marketing partner stopped with the lead. And you must understand where you need to start with them. Don’t repeat a process they already did. For example if you purchase a list that has already been called you don’t want to start with an email to them, you must call them and begin your relationship at that point.
All leads have different stopping points so be sure to spend time with your lead consultant prior to making a purchase learning about the different stopping points they offer and which one is best suited for you and your marketing style.
3. Break-even Point – You must take some time to figure out how many people you need to bring into the business (customer or partner) to get your initial investment back or cost of the leads. Not that you will hit it each time but at least you establish a short-term goal. Keep in mind you may not break-even on a list for a few months. One person two or three months down the road might just explode your business…you never know!!!!
Understanding your B/E point is important so you can keep your eye on the target. Without a short-term goal of trying to get your initial investment back you are just dialing and hoping. It won’t take you long to figure out this doesn’t work.
Remember a great way to keep your momentum going is to reinvest the revenue you produced back into another lead list.
4. Tracking your numbers – You must track every result of every call you make. It is of the utmost importance that you establish a base or foundation for your numbers working leads. Once you create that base after a list or two you will be able to focus on the areas you need to improve in order to get better at your Critical Inch…..Sponsoring new people into your business.
For example, you might notice in your numbers that you have a problem with getting a prospect to the 3rd step of your 4 step exposure process. When you can see that in your numbers it allows you to focus on the training you need to get people from step 2 to step 3 in your exposure process.
You will eliminate guess work when it comes to training that you or your group needs when you spend the time to know your numbers! How many successful business owners do you know that guess at where to invest their money?
5. Create a solid presentation or agenda to follow when calling leads. I would suggest you use is the K.A.R.M.A. presentation format when putting together your agenda. Knowledge / Action / Reason / Match / Action.
For more on the K.A.R.M.A. approach to prospecting contact us
Having an agenda to follow when you are calling leads will help you remain on track and focused when talking with a prospect. Not to mention it will give your prospect the impression that you are professional and well organized. You might just be the person they want to partner with!
6. Develop a skill set on the phone – You must understand you may not start out as a pro with your first lead. Keep in mind there is a learning curve and you must be willing to keep calling until you cross that magic line of feeling comfortable on the phone. Trust me it will happen….not sure if it will be your 10th call or your 200th call, but it will happen.
A real good idea is to call friends and practice on them or work with an upline member and do role playing. At some point you must just say I am going for it and pick up the phone and begin building your business. Your skill set will develop by doing so.
Start with a Good MLM Phone Script
7. Educating your prospects – Too often people are in a rush to sign up anyone. I do believe anyone can be a great partner for you but first things first. Make sure they have an understanding of the industry you are part of. If they don’t you will continue to struggle with this person even if you have a “fool proof system” that no one can fail at if they follow it. Be sure to have a resource you can use to explain the industry for them so you don’t have to.
Don’t you agree that it would be hard to run a successful restaurant if you had no knowledge of that industry? Why should it be any different in the home-based business industry?
8. Duplication & Momentum – This industry is all about duplicating so you can earn a nice residual income and one of the quickest ways you can do that is to have your new recruit from (the lead list) buy leads. Have them repeat the process that you just went through with them. Perhaps you can break them in slowly and split a list with them. Either way they can’t duplicate unless they are talking to people so get them in front of people immediately while the fire is still hot.
I would recommend you offer a new recruit a choice between cold and warm market depending on which they are comfortable with. Of course doing both can’t hurt…..more prospects the better! Just be sure to help them keep track of their results so they can determine which method works best for them.
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Attention to these 8 areas is critical to your success when deciding to build your business in the Cold Market. If you don't, you might just be throwing your money into the air and hoping for results.
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Scott Adams
Follow these 8 tips using our leads for unlimited success in your home business.
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