The Key to Business Success During Economic Downturns

It’s all about your sales pipeline. An empty pipeline is like a bell that rings the doom of a business. But a pipeline that is full and overflowing signals a healthy business that will thrive in...

...any environment. So, no matter what kind of economy your business is facing, you need a full pipeline of leads to ensure the survival and health of your business.Some companies use a lead generation b2b business to help them uncover leads. Other businesses use an in-house lead generation service (or get their sales staff to do it). How is it going for you? It’s time to do a health check on your business.

First, identify how many sales you do in a month and how much you earn per sale.
Second, look at your expense report to learn how much money it costs you each month to runa business.
Comparing income to expenses, you should have a general idea of your profit each month.

But we’re not done yet.

Now, look at how many prospects you present to before you make one sale. Is it 5? 10? 25? This is your conversion rate – the rate of turning prospects into customers.

Now, look at how many calls you have to make in order to generate a single prospect. This is your lead generation rate – the rate of acquiring prospects.

Want to double profit in any economic environment? Double your lead generation and you’ll double the number of prospects you convert to sales. That, in turn will double your income and (assuming you expenses stay in sync) will double your profits. It all comes down to lead generation.

But the question is, how do you double your lead generation? This is where sales techniques training comes in. When your people learn new, exciting, and useful sales techniques, they are acquiring the tools they need to do their jobs telemarketing to find prospects.

And, how do you get this sales techniques training? You get it through online telemarketing coaching. For some businesses, this is a new concept, particularly because they’ve always expected their sales people to generate their own leads. But it takes a different type of skill to sell to a lead than it does to generate that lead. You don’t expect your auto mechanic to also do dental work, do you? Of course not! In the same way, it’s unrealistic to expect your sales staff to be excellent at selling AND to also be excellent at lead generation, simply because they are excellent at selling.

Now, does that mean you have to create new jobs for telemarketing professionals? Not necessarily (although it might help). Instead, it means you need to supply your sales staff with coaching and training to help them. Chances are, you already supply them with sales training for the regular sales cycle. Isn’t it time you consider helping them generate more leads?

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