Module 6 - Lead generation

Key outcomes

• Develop lead generation strategies
• Utilise client database and prospect database to generate leads
• Create business ‘clusters’ to create a referral network
• Identify alternative lead generation ideas

The top producer on this CD is Phong Vu

Phong is a passionate property investor and financier. He brings a wealth of experience to Icon Capital with over twenty years experience in personal, commercial and corporate lending. His previous position as Director of Ashe Morgan Winthrop and its residential arm, Ashe Morgan Prestige, saw him managing the company's national residential business. Phong has also worked as a lender for ANZ Banking Group, Westpac Banking Corporation and National Australia Bank.

www.iconcapital.com.au

The following are lead generation strategies that are currently being used by Top Producers in Australia. These businesses are or have been FrontRunner Performance Coaching clients and settle greater than $40M in loans per year.

Top Lead Generation Strategies

• Outbound phone calls -a campaign call promoting new services offered by your company or an ongoing 'client care' call program to touch base with clients and prospects and remind them of the services that you offer will be one of the best ways to keep you in the clients' mind's eye. A good discipline to follow would be to make 2 phone calls per day (10/week) to help you contact all of your clients every year. Before you make these calls, make sure that you have scripted and planned the call and you ask questions about your clients present situation than you tell them about yours. If your client remembers you, was happy with the service that you offered and is still happy, tell them about your referral program.
  
  
• Referral rewards - one of our clients has campaigned their client database by email - offering them a chance to win a department store voucher to the value of $1500 for referring friends and family to his business. In his initial correspondence, he tells them that he normally receives 20 referrals per month and as this campaign will run for 2 months, if you successfully recommend us to someone, you'll have a good chance of winning the prize. All referrers go into a draw to win the prize. In some states, you will need to register with government authorities to hold such a draw (this will incur a fee). This initiative has regularly increased leads by 50% per month during the campaign. (you may also consider conducting a constant referral reward program through a loyalty program).
  
  
• Strategic Partnerships - build relationships with related businesses in your area that compliment the services that you offer. Once you establish that you have similar business values and clients, it will be time to discuss how you will refer potential clients to each other. The ideal strategic partner will help make your business look good by providing a professional service to your clients while complimenting you. Assuming the relationship progresses well, you can cross-promote each business in your regular client communications and sales presentations. Most top performers have very few referrer relationships (two or three maximum) because they focus on the relationships that provide them with the most leads/business. Often they will locate themselves in the referrer's office to ensure that they are available as often as possible. If being located in a referrer office is not possible, it will be pertinent to meet with the referrer regularly (several times per week) in an effort to build. The outcome of the relationship should be to generate leads for your business - this will be obtained by working with the referrer like a business partner would (i.e. helping them with other aspects of their business and building the personal relationship). For more information see module 7
  
  
• Sponsor local sporting and community clubs - the best results will be achieved if you are actively involved in these clubs. Clubs will gladly take sponsorship money from local businesses to support them but a sign in a club house or advertisement in their newsletter will not be good enough if they don't know you. Also, personally knowing the influencers within these clubs will enhance the opportunity of being recommended within the club. Most top producers report that the second year of sponsorship is often much more fruitful than the first.
  
  
• Finance seminars - first home buyers, investors and any other seminars where you can present to an audience will give you credibility to your audience when delivered professionally. The trick is to get enough people to attend! Your client database will help as will local advertising. You may want to spread the risk and invite your strategic partners to present also and invite their own clients as well.
  
  
• Advertising - make sure that you are advertising in a specific publication that will have the best chance of attracting your target market. If you advertise nationally, develop a strategy that enables you to service clients from all areas of the country. One off ads in the local paper do not work nearly as well as longer-term strategies that help build your brand.
  
  
• Client database marketing - see module 8
  
  
• Sales presentations - see module 5. Your presentations to clients is not only a great opportunity to commence a new relationship, but also a time to market your services to your new client. Your referral program script will be critical to developing leads during the presentation.
  
  

There are many more lead generation strategies that work for various businesses. We will continue to share the ones that we believe will work for the majority of our clients (with permission). Make sure that you focus on one or two main strategies to build your business. If you try to implement too many, it increases the chances that you will implement them poorly.