Generate More Leads: Break The ‘Feast & Famine’ Cycle
Have you struggled to generate more leads for your firm? Or have you seen a dip in recommendations? What’s changed?
Referrals are no longer the strongest form of marketing. Methods such as social media and digital marketing have become much more effective at helping companies reach their target audience and generate more leads.
Unfortunately, these new forms of marketing require a certain amount of time that was never demanded of companies before.
Many organizations struggle to find the time to complete both their client work and their own marketing work, and as a result, end up falling into what we call the ‘Feast & Famine Cycle’.
This cycle describes when you’re constantly rotating between …
Working so hard on your current client projects that you have no time for lead generation.
Seeing a dip in current client projects, with too much time for lead generation and no source of reliable income.
The simplest description of the ‘feast and famine’ trap can be depicted visually:
The fluctuating line depicts the unpredictability of the feast and famine cycle, whereas the dotted line shows what can happen when you implement an effective digital marketing campaign.
If you’re stuck in the feast and famine conundrum, fear not – you’re not alone! Many traditional and well-established companies are having to adapt and change their ways in order to tackle this same challenge head-on.
So, how can you escape it?
We use a system that we call the ARC – Attract, Respond and Convert. Following this process, in chronological order, can help your company manage both client projects and in-house marketing efforts. It will save you time and help you generate more leads year-round, not just in those times of famine.
To get started, you must first attract a potential client with something called a ‘lead magnet’, which should only become accessible if the prospect completes a simple form collecting their email address (at a minimum).
What’s a lead magnet? – Used to generate more leads for a business, a lead magnet is an offer of both useful and interesting content that can only be obtained if the prospect completes a contact form, which usually requires their email address at a minimum.
This lead magnet could be a piece of content such as a white paper, workbook or personality test, which will provide information that’s useful to them. On the other hand, it should be demonstrative of your thought leadership as a business and provide information about your capabilities.
Remember, these lead magnets are a really useful way to show clients that you’re an expert in your area of expertise.
Once you’ve attracted a potential client, you must respond. This part is all about making the prospect feel like they’re getting to know your company. With the newly acquired email address, send them over a message to welcome them to the ‘family.’ By contacting them directly, you’re putting yourself one step ahead of any potential competitors they might also be looking at. This gives you a head start for when the time comes to convert them.
Continue sending them useful information, letting them know that you’re a leader in your field, as well as a reliable and dependable company. The more you talk to them, the more likely they are to choose you as their service provider.
Finally, it’s time to convert. Once you start to receive enquiries, funnel your prospects through a qualification process. This will determine whether or not they’re ready to talk to you. This is a really useful process that will save you a lot of time in the long term and it will also provide you with preliminary reassurance that the potential client is a realistic candidate.
At JTN, we’ve integrated this method for several clients and have not only watched them generate more leads, but some have even doubled their revenue and net profit in less than 10 months. One agency even doubled their lead-flow at no extra ad spend!
If you want to know more on how to escape the Feast & Famine cycle and gain results similar to our other clients then download our Client Attraction Process Guide for a more detailed explanation of the ARC process.