INDEED, CREATE HYPER-GROWTH WITH PREDICTABLE LEAD GENERATION
Most of us don’t have the patience to wait for the business to grow slowly. We want hyper-growth, the kind of growth that never hits any plateau and keeps on growing. For that to happen, you should prioritize on creating predictable revenue.
Let’s dig in and see how.
How creating predictable ways for lead generation should be your priority?
Overnight success is a fairy tale. Even when you have the best products, investors and sales process but not any predictable ways to generate revenue, then it’s going to be a struggle. If you think that just creating an amazing product is enough, think again.
The internet is full of stories of overnight successes and viral businesses. But not how it usually works. The normal story will seem boring—the story of building a business with baby steps and struggling to get discovered. Because that’s just how it will be. No matter what you launch, people won’t care. It’s up to you to work hard to get the people to come to you and give them a meaningful reason to buy from you.
Yes, happy customers and a great product are important to a business. But it is more important to create a predictable pipeline of leads and sales. This could help you to solve sales problems like:
- Unpredictable lead generation
- Leads that don’t fit the quality
- A rollercoaster revenue of ups and downs
- Lags in revenue fulfilment even when you have fulfilled the lead goals
- Low close rates
- Unmotivated salespeople
In the usual lead generation process, you need a perfect product, sales process and salespeople for a decent lead generation. But the best part about creating a sustainable, predictable sales pipeline is that you can still perform well in sales conversions even when the other things go wrong.
Don’t mistake it. You do need good products and a sales process. But the ability to achieve results even without it says a lot about the efficiency of the predictable sales pipeline. If you have hit a plateau or looking to triple your sales, then the solution isn’t just to increase the salespeople. Growing qualified leads is what you need. Else, you’ll be a one-hit-wonder—a business that went down after the initial burst of success.
Are you focusing on single form of lead generation?
There are three types of leads:
- Seeds are the leads created from word-of-mouth marketing, networking and relationships from happy customers. Seeds were the main reason for the initial hypergrowth of companies like Google, Facebook and Slack.
- Nets are the leads gathered from the content, inbound and outbound marketing campaigns.
- Spears are leads obtained from outbound marketing through direct contact usually through calls, emails or any other in-person interactions.
Out of these three types of leads, many companies obsess over a single form of lead and neglect the others. They have their own philosophy to go by to justify their choice of choosing to concentrate on just one lead. Not many realize the wonderful opportunities they are missing out on.
Just like peanut butter and chocolate, when you combine inbound and outbound marketing, it works well amazingly together. And it’s even better when served with a great product.
Seeds, Nets and Spears are all essential to any business. Just like using different tools to build a house, you need to know the right leads to pick at a given point of time to build your business. Every one of these leads has varying conversions, sales cycles, sales funnels, target customers and deal sizes. You need to work out the right combination and the right ratio of these leads with respect to the time, money and resources.
Don’t confuse Partners as the fourth kind of lead. They can be channel partners, resellers, marketing partners or anyone else for whom you are the customers. You can acquire Partners through all the three different kinds of leads.
So, why limit yourself by focussing on a single form of lead generation?
Make the most of the situation, branch out and gather all three types of leads. Don’t think about the hassles of extending your marketing capability. You can reach out to your potential customers through 20 different Points of Purchase from the FaceValue Application. And the best part is, you can automate the tasks on FaceValue and so, you don’t need to spend too much time on it.
You can add your business information and start with a few Points of Purchase and include more over time. Reaching out to all three kinds of leads is the best way to create predictable revenue and FaceValue, The Purchase Generator is the easiest way to do it.
Learn more about the 3 types of leads: Indeed, 3 types of leads: Meet the Seeds
This blog is excerpted from: ‘From Impossible to Inevitable: how hyper-growth companies create predictable revenue’ co-authored by Aaron Ross and Jason Lemkin.
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