Harrison Law Group March 2019

Are You Qualifying Your Prospects? 3 Questions to Ensure You Obtain the Right Clients

Spring is here, and watching flowers sneak up through the soil in your front yard may remind you to consider growth of a different kind — the growth of your business. Regardless of whether you soared over your revenue goals the previous quarter or you took these last few months to recover from failed marketing efforts and missed opportunities, spring provides a great opportunity for overall growth. Still, it’s hard to know where you should focus your energy. To aid your efforts, here are four factors to consider for strategic business growth. 4 Factors That Might Be Affecting Your Business’s Growth This Season SPRING HAS SPRUNG Similar to nature’s processes during springtime, business growth begins far below the surface through good leadership. Your employees’ perception of you and your company’s mission is what determines their motivation to work hard. Take a step back to evaluate your leadership tactics and determine if they match your ideal business model. Often, replacing poor leaders with stronger ones makes all the difference in a company’s success. Business growth doesn’t happen in a vacuum. Just as leadership from your management team should be a major focus, your employees need a standard but solid foundation of knowledge in order to cultivate their own growth in the company. This spring, consider revamping your training programs by moving to online platforms that customize learning paths for each new employee based on previous employees’ feedback. 2. EMPLOYEE TRAINING 1. LEADERSHIP

The shotgun lead generation approach is both ineffective and inefficient. For years, businesses put the power of decision-making in the hands of the consumer. Companies chased after any opportunity to put their name in front of a lead, hoping their skills would lead to a conversion. It wasn’t until recently that marketing and lead generation trends flipped the tables. Rather than an organization spraying out strategies across every feasible medium, new tactics implement a more targeted approach to get the right clients. Here are three questions you can ask to qualify your prospects. Rather than taking any client they can get, a smart business owner focuses their attention toward the leads they want. It’s important to focus on candidates in a specific demographic. Doing business with those who match your requirements will result in happier clients and better relationships. HOW MUCH TIME ARE YOU WILLING TO SPEND ON A LEAD? Once you understand the type of client you’re looking for, the next step is to designate how much time you’re willing to spend fostering a connection. Just because someone fits what you’re looking for doesn’t mean they are worth the time investment. Some of your ideal prospects will demand excessive time from your team, making the cost of client acquisition even higher. Set a maximum amount of time you’re willing to dedicate to a lead, and as you get closer to that threshold, ask yourself if it’s worth continuing that relationship. You may attract the right lead, and you might be able to convert that lead efficiently, but that doesn’t mean they are the right fit for your company. Above all else, a client needs to match your core values. Your team is a direct reflection of your company, but so are your clients. By qualifying your prospects effectively, you’ll increase client retention, improve client satisfaction, and create rave followers. Rather than trying to find leads under any rock you can turn over, ask these three questions about each prospect, and you’ll find more success in business. WHAT DOES YOUR IDEAL PROSPECT LOOK LIKE? DOES THE PROSPECT ALIGN WITH YOUR VALUES?

3. CUSTOMER LOYALTY

While it is important to increase brand awareness and expand your customer base, it is essential to also increase sales potential with your existing customers. Look for opportunities to grow your profits with the customers you already have through add-on sales, customer loyalty programs, and referral business.

4. SOCIAL RESPONSIBILITY

When you adopt policies of social responsibility, you affect your community — and therefore your customers — in a positive way. Take the month of March, for example, which is National Multiple Sclerosis (MS) Awareness Month. You can get your business involved in various organizations geared toward raising awareness. Through sponsoring events and donating money, you can increase your client base while simultaneously helping others.

2 | 410-832-0000 | jwyatt@harrisonlawgroup.com

Published by The Newsletter Pro • www.newsletterpro.com

www.harrisonlawgroup.com

Made with FlippingBook flipbook maker