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The fifth and final way to increase your business is by Increasing the Number of Leads or Referrals you develop. When I do my "5-Ways to Massive Profits" seminar, I ask which of the 5-Ways do owners feel should be the first area of emphasis. To the over 500 owners that I have asked, over 70% feel that Leads is the area to focus on first. Mostly due to Leads being the TOP of the sales funnel. But in reality it is last. You should develop and improve all of the other 5-Ways prior to focusing on Lead Generation. Leads are very valuable and costly to develop. Because of this all other facets of the 5-Ways should be optimized prior to Leads so you have the highest possible conversion rate from Lead to Customer.

Referrals: Referrals are one of the most powerful lead generators in the world. It is a cheap and very effective, not to mention, extremely desirable situation when people start spreading the word for you.

Obviously this is achieved by offering exceptional value and service, but it can be further promoted by using special referral programs.

For example, you may reward someone who introduces their friend with a free weeks membership, or it could even be a "spotters" fee paid in the form of a gift voucher.

The key is not taking referrals for granted and rewarding those who are your best ambassadors.

Hints and Tips:

Offer a scheme where people know what they get for a referral.

Be very generous with those who spread the word think of what you would have to spend on advertising to get the same results.

Talk to other businesses that complement yours' you may be able to do a little reciprocal referring.

Test & Measure:

It's strange, but just testing and measuring can help increase your number of leads. Knowing where your customers come from gives you the power to make smart decisions about what to spend your marketing money on.

Hints and Tips:

Keep meticulous records of where all leads are derived from and how much they spend.

Monitor how well every single product sells, and WHY it's selling.

Keep running marketing that works, even if YOU are bored of it.

The five Blogs for September that focus on Lead Generation are:

September 2 – Wanted: More Leads

September 9 – Referrals as Lead Generators

September 16 – Converting Leads into Customers

September 23 – Increasing Profits with Lead Generations

September 30 - Excuse Me, May I Buy That Customer?

October will be focused on how to go about Hiring, Inspiring, Training and Retaining GREAT Employees!!

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