UK +44 (0) 203 397 4970 | US +00 (1) 844 671 2872

BizGrowth Part 05: Lead Generation System – Part 2

How to keep clients in front of you once they have opened the door

You will leave this video knowing:

Why LinkedIn is best for Business to Business

The Importance of Segmentation

How to use a variation of our methods on most platforms and achieve industry defining results.

How to build a strong attraction strategy to gain more clients

The benefits of signing up to our webinar after this video so that you can learn the what, when, where, how and why

Summary

As you can imagine this is a massive topic in its own right, hence why we developed a large part of the business doing this. So this is a continuation of what were previously discussing…

Transcript:

 

ALEX:

Hello everyone, welcome back. Part two of lead generation. As you know, I’m Alex Smith and this is Rupert Honywood from Business Growth Bureau. In the part one of lead generation we were talking about what platforms to use and about certain different things you can do with each platform. The point now is just to drill down a little bit more on a few things that we missed off last time but also about segmentation, and how to find your ideal clients and what that might look like for your company.

I suppose to kick it off really Rupert, what did we miss last time? We covered things like social media, platforms you can use, and touched on podcasts, but what did we miss? (0:36)

  

RUPERT:

We didn’t miss anything particularly important but there is one part which is really interesting. A few years ago, direct mail through the post was very popular. In fact, I was a massive advocate for that and have done massive amounts of it before. Interestingly enough, over the last five years or so it’s become quite unfashionable, largely because of the cost of doing it, but in fact in many ways, and especially with the new regulatory framework that we’re operating within the UK now, you could argue that there’s a really good time now to be using direct mail through the post as well.

So although the cost is very high, if you’re using social media, Pay Per Click, and you also want to be able to extend and reach people more personally, especially if you’ve got quite a high value proposition, direct mail through the post can complement that experience very well.

 

ALEX:

I suppose especially, just to complement what you’re saying there, if you’re selling quite a high ticket item and you get a very nicely headed bit of paper and you get a nice bit of mail through the post, that might actually be quite a good way of marketing your product or solution, especially if it’s a follow-up message, instead of it being an email which is quite impersonal, it’s quite black and white, email, to get a nice letter through the post, a nice crisp letter through the post, it might actually be a good way of reminding someone of your product or service. So it’s not actually a bad comment to say about that. (1:58)

  

RUPERT:

Yes, it can work extremely well and it’s something that certainly we’re going to be doing a lot more of, but obviously very important, make sure you’re on the right side of compliance, it’s worth looking at. Also, a little bit more out there but tying in with the point you were making earlier about video, we started using video email messaging a lot more recently, and that’s proving very successful, because again it’s about engagement.

 

ALEX:

And what’s the plugin for that called through Google? (2:28)

 

RUPERT:

It’s not directly through Google but there’s some very good third-party products out there which are available on subscription.

 

ALEX:

Have you got a few examples? (2:36)

  

RUPERT:

There’s one called Bonbon for example, a slightly strange name but it’s actually very good. There are other ones out there, I don’t know all their names unfortunately.

 

ALEX:

A quick Google search of video add-ons would reveal some great results. (2:51) 

 

RUPERT:

That’s right, and there are certain auto responders you can use for bulk sending of video messages, but what I’m talking about more is a personal approach.

 

ALEX:

Now is a great time to mention, what we’ve done in the past helping our clients with is segmentation. A lot of our clients would go for very high end ticket sales but what they found is, with a bit of fine tuning, that wasn’t their target audience, because they were in this weird price point between being not enough for the big dogs to take them seriously, and too much for the slightly smaller companies to be able to afford their services. So what we found is by reducing their service a little bit that they could sell at less of a price point but they got a lot more clients on board.

So, Rupert, it would be cool to speak to everyone who’s watching about what segmentation looks like and how we can apply that to our business. (3:42)

  

RUPERT:

In fact, this is particularly important if you want to use things like LinkedIn or equally Facebook if you’re going to go for any of their paid for, but what you’ll need to do first of all is identify your product, think very hard about who you’re trying to reach. A lot of people don’t really understand the numbers but as a rough guide, and I’m talking about in the UK here but these numbers as a percentage will be similar in the US and a lot of other countries, there’s round about 76% of businesses in the UK are one-person companies. The percentage is probably fairly similar in the US.

There’s a further 18% or so which employ between 2 and 10 people and there’s only about 6% which employ 11 or more people, and that includes the corporates out there as well.

A lot of people have this perception that they’re trying to reach medium sized companies, but what is a medium sized company? Think very hard about that first of all. If you’ve got a product or service which is perhaps £10,000 or £50,000, quarter of a million pounds, those services are going to only appeal to the more medium sized companies, perhaps with 10 employees or more, and at the high end it may even be corporates or very large medium sized businesses.

 

ALEX:

I suppose the takeaway from that would be to bear in mind the facts, which are easily available, but that means that 94% of all the people that run a business in the UK, for example, are one-person companies or with less than 10 employees. So knowing that information, are you going after the wrong clients? Are you trying to go after the people who are going to be able to pay the £100,000 ticket prices or should you really be aiming for a lower price point and going after the one-person consultants? It’s really trying to think about where your actual target market is, which I suppose is important for every company to think about. (5:42)

  

RUPERT:

Everything has to start from there. Let’s just take a few examples. Let’s say, for example, you were trying to reach software and technology-based companies, because you’ve established that your product or service would appeal to them. What you almost need to do is to think at a personal level what that person may look like that you’re trying to target.

So it may be a Bob or a Jane, for example, they’re in software and technology, let’s say you were in London, just for the sake of convenience, and you want to bring up all technology and software companies within a 50-mile or 100-mile radius of London, or in the US it might be within, say, New York, and let’s say you said, okay, I only want to reach people at Director, CXO level, I’m not interested in people below that because they won’t make the right type of decisions.

Equally, the companies I’m trying to reach are not the really big ones, so I’m trying to reach companies which may be employing 11 to 50 people. You can filter by that as well. And you might be saying, I only want to bring up those people who I haven’t had conversations with before, so I only want to reach my second or third level connections.

 

ALEX:

This would be a good time to mention that what Rupert is talking about here is segmentation. What Rupert is talking about is how to drill down and how to find your ideal client. One thing we would like to mention, not that we’re advocates of it at all, we’re not in association with this platform at all, but we’re very, very firm believers in it, it’s actually LinkedIn, and the reason we say that is actually LinkedIn with Sales Navigator allows this kind of search that Rupert’s talking about. It allows you to search by distance, location, seniority, sector and so on.

I think from memory it’s 147 different sectors that you can filter from LinkedIn. We’ve mentioned before and I’m happy to mention it again, we have a free webinar. At the moment it’s running once a week but we’re moving to the point where it’s going to be three or four times a week and the reason for that is the demand, people jumping on board, but they want different times.

What we actually talk about is, not only how do you do this search, but how to actually message people, which is coming in the next episode, of how do you actually message these people. So I’m going to let Rupert finish what he was saying in just a second but I wanted to cut in and say that this kind of search is available, you can do this yourself, you don’t need to bring us on to do this kind of search for you. If you have LinkedIn available, if you’re not on it already, jump on it, start to use the platform and start to see what we’re talking about in terms of the segmentation. Sorry to interrupt. (8:06)

 

RUPERT:

No, it’s great, you’re sharing massive amounts of value there that complements what I was saying perfectly, so thank you for that. What I would also just add in there as well, because industry sectors is really important as you’ve referred to but also things like key phrase search.

 

ALEX:

And what is a key phrase search? I don’t know much about LinkedIn, but imagine I know nothing about LinkedIn, what is a key phrase search? (8:31)

  

RUPERT:

Let’s say we’re talking about software technology companies, one of the problems you’re going to have with LinkedIn, it’s such a big place. This is why segmenting down and micro segmenting down is so important. It may be that by using the search parameters we talked about, you’ve gone down from 1.5 million records to, say, 10,000 records. That’s still too big to really work with, so what you could do is put a key phrase in.

So in this case, imagine the Bob or Jane that we were talking about, they could be business analysists that we want to reach. So you could search on the key phrase, ‘business analyst’ and that might narrow it down to below 800 people. That’s still a lot but the great thing is, you’re then talking about a micro segment and then you put in place the next part which is the prospect metric process, and go from there.

 

ALEX:

So that’s a really interesting point. What we’ve just explained there is, LinkedIn may return a million records in one certain industry and we can’t work through a million records, you’re never going to be able to deal with that many people, so you need to think about who your actual target market is, who are actually going to be interested and/or buy your product, and then you need to segment it down again.

Even if you get to, say, 800 or 500 people, that’s way too many for an individual person to be able to handle. So what would be quite interesting is, Rupert, how do I take, say, 500 records and manage that so that I can not only message these people but keep up with that as well, what can I do without plugging in something that we provide? How can I do that myself? (9:59)

 

RUPERT:

That’s a great point. I think probably we’re going to be able to share more value on the next episode in terms of the prospect metric side. Having said that, to tie in with what you’re saying, this whole thing is about trying to micro segment but what you can do is work in multiple segments over a period of time.

So we’ve got a nicely honed list here of your 700 or 800 people. It may be then you want to target another group of companies which may have another 800 or 900 people in by the time you’ve segmented it down. Those again may sound like large numbers but that 800 or 900, you’ll find that for every 100 or so people that you’ve connected and engaged with the right way, which we’ll explain a bit more in a second through the next episode, you’ll get between 8 and 13 out of every hundred who want to take things to the next stage.

 

ALEX:

To simplify that, with the process that we follow internally for our prospect nurturing through the six-step social selling blueprint we’re talking about is that we find for every 100 people that we’ve spoken to, because of how well our targeting is, for every 100 that we’re trying to get through to, 8 to 13 actually come out of the back end interested in the conversation.

I suppose that’s a great point to take away. Everything we’re talking about now isn’t just lead generation, isn’t just people that might be in your demographic, that might be wanting your product. The stuff we’re talking about is people that have actually asked you for the conversation about buying your products or service.

So if that’s something you’re struggling with, if you’re getting people to the point where they’re saying, I understand what you do, let’s have a conversation, it definitely would be worth staying on to watch at least the next one to see how we get those people to that point and what kind of messaging are we saying takes someone from a cold prospect all the way up to a hot prospect or actually asking us for sales-based conversations. Is that a good way to wrap it up? (11:45)

  

RUPERT:

That’s perfect.

 

ALEX:

So, once again, I always say it and I always will, thank you so much for watching. I don’t know how long this has been but it’s been well worth it, I think. I’m Alex Smith, Rupert Honywood from Business Growth Bureau. Anything else you need to say? (11:58)

 

 RUPERT:

No, I think that’s called a wrap.

 

ALEX:

So this has been part two of lead generation, I hope you’ve enjoyed it and as we always say, your feedback is our oxygen so if you have any comments or if you would like to leave any feedback, good or bad, throw it underneath the video or throw it on any form of our social media platforms. If you’re listening to us on podcast, thank you so much. Once again, I’m Alex and this is Rupert. We’ll see you on the next episode. (12:22)

  

RUPERT:

Thank you.