The Lead Conversion Problem Nobody Talks About

If you run any type of service business, investing in the marketing and going into all of these other marketing sources can cost up to thousands. Now, one skill that most of the businesses that we come across and speak to kind of like lack this one thing, which is actually having either staff or the skill to be able to close these leads. Now, there's a couple of things that happen. So on the marketing forefront, let's say you hire a marketing agency to pretty much take care of all of your marketing needs to generate you leads. Now, of course, there's a whole nuance to that. And the marketing company's job, I believe, is to get you kind of the highest the best quality lead possible, meaning they have the problem that you're trying to solve for. They're within your target ICP, ideal customer profile, meaning they have the exact problem you're trying to solve for. They ideally have the finances for the problem that you're trying to solve for, and they're just your ideal customer profile in general. That's the marketing's responsibility. Now, if your marketing team is already delivering you that and you're still not able to close them, you have to ask yourself this question: are these leads qualified? Meaning the leads am I talking to, do they have this problem in the first place? Are they picking up my phone? Are they getting on a call with me? Am I getting on a call with them either through Zoom? Are they coming to my door? What is happening after? And honestly, tell yourself, is this lead qualified or not? And chances are, if the marketing company is doing their job correctly, the lead is qualified, but you cannot necessarily close them because when it comes to paid advertising and marketing, you have to understand that once you crack it, it's basically, you can get as many customers as you want. The entire game is in your control, but it's also not super easy. Most of the businesses are in the same exact position or maybe in the same exact position as you. Maybe they're just relying on word of mouth. Maybe they're just relying on referrals. But the ones that stood out, the giants in your industry, they're the ones who have cracked all of these advertising sources. They've invested thousands into marketing and they've cracked marketing. They've also cracked on how to close these specific deals as well. Now, when a lead comes in, you have to ask yourself, let's say out of 20 leads that marketing gives you from week 1 of any month, call all of these leads and write down exactly what happened on all of these single leads. Use a CRM tool, use a spreadsheet, whatever you want to do. I want you to track every single thing down on what happened and what stage was this lead on. So for example, if out of these 20 leads you got, 15 of them were disqualified, but 5 of them were having like good, decent conversation, meaning 5 of them were qualified. Take the reason of why it was disqualified to your marketing team so they can actually work on improving what the disqualification criteria was and how to just put it into a form or somewhere in the marketing process, so you can increase the lead. So for example, let's say out of those 15 leads, the disqualification was finances. They cannot afford your product. If you take this specific, um, what's it called, criteria, give it to your marketing team, they can perhaps make up some verbiage or add in some detail into the questionnaire or form they fill out to the point where they just understand that this would require— the lead would understand that this would require additional resources or some sort of, of course, cash on their end. 'Cause if they don't have it, then we just disqualify them. Now, another thing you have to understand is marketing can do only so much. Like a case that was not going to happen is a lead just comes in and they're just ready to buy. At that point, what's the point of a sales process? Like what is the point of getting somebody on a call and convincing them to buy your product? If there's not going to be convincing, you're just basically like expecting marketing to kind of like give you all of the leads by yourself. Like that just doesn't happen. We do our own marketing, of course, as a marketing company, like we do our own marketing. And we've invested a lot of time and resources into the sales side because we understand there's only so much we can do on the marketing side of things. But if we're not able to close these leads, these close, these people that are coming in through our funnel, and of course qualified people, like if there's a person we genuinely can't help, we just reject them. But if a person is coming to a call, they genuinely have a problem that we can solve, meaning they don't have any leads, they don't have organic content, they don't have any digital presence, and they come onto the call and one of my team members, one of my partners, or even myself is not able to pretty much help them or show them how we can help them. My salesperson is not doing their job. They're essentially giving up on that lead when we basically had a handout of a solution that we can give to them that can make them more money. So that is a job of a sales process, because if I just tell you the price, like, yeah, it's going to be this much, you're just going to be like, yeah, yeah, I don't know. But because you're not convinced this is going to work for you. But if you hop in a call with one of my team members, if you hop on a call with me, like, I will literally show you step by step on how this investment is going to pretty much like 2x or 3x for you. So this is the entire premise of a selling process. So if you get a lead, you need to have a process on how to close them. You need to show them the value. You need to kind of like build on the pain. You need to have a good discovery process. You need to have a sales process to convert the leads. So for example, if you're only converting, let's say like 5% of the leads, ask yourself, what does the process need to entail so I can convert more leads? Do I need to reach out to them faster? Am I being lazy on reaching out to them? Do I have, do I not have enough systems? Is my automations or my flow not set up properly? Because I promise you nothing's going to change. No amount of marketing is going to save you from this. If you have a poor sales process, it's just not going to work. You might close some deals here and there because maybe your organic content or maybe your other sources are doing so well to the point where they come onto the call, they're ready. Unless that is happening, you're not necessarily closing as many people, especially if you are in a niche industry. Where a lot of people are selling the same thing as you do, and you're not capturing and maximizing every single lead, you're just going to lose to the person or your competitor who is doing exactly that. You need to maximize every single lead. You need to have a proper sales process to close these people on the spot. Like learn all the objections that your customer gives you and learn how to handle them right on the spot. Just because somebody wants to think about it, just because somebody is like, yeah, I don't know, let me check with my finances, doesn't necessarily mean you've lost that sale. You have to kind of like keep digging in on every single call that you do so you can actually have a higher probability of closing every person that you pretty much speak with. Unless you're able to do that, no amount of marketing is going to fix that. But the funny part is you need to activate those marketing sources to even get to that point in the first place. And what I mean by this is like you will have to invest some sort of cash, whether it's on paid advertising, whether it's with an agency, whether it's with an in-house hire, to get those leads and train yourself and your team in the first place. Because you can't just prepare for something you don't have data on. If you don't know what your customer's objections are, you can't necessarily handle them. If you don't know what the common pain points your customer is talking about, you can't necessarily market towards that pain point. Because another thing that happens all the time is like you might think you know the pain point, but once you actually talk to 200 of your cold leads, you'll understand what the exact objections and pain points you have to pretty much handle. And then you can write that down on a piece of paper and then exactly handle those specific things. The worst thing you can do in this situation is just complain about the leads, complain about your marketing's not doing enough, because you're just going to stay stagnant. There has been no instant where one person just generates leads. He doesn't like the leads. He just goes somewhere else, just gets more leads and just starts becoming a millionaire. That just doesn't happen. Now, of course, I'm not saying that bad leads don't exist. They 100% exist. That's why I opened up this video with make sure that the leads are qualified and be honest with yourself. If the leads are qualified, you have to ask yourself, okay, does this person have a pain point that I'm trying to sell? Yes. Does this person— is like, does it fit my ideal customer profile? Yes. Perfect. Am I able to close them? No. If the last one is no, you don't go to your marketing company. You go to yourself and be like, okay, now I need to improve my sales process. Marketing is doing an amazing job. They're giving me all the leads I want. Now it's up to me to close them. And of course, communication, like this is the last point I want to make. Communication also with marketing on a consistent basis is extremely important. Like some of you guys will hire a marketing company or just hire an in-house person and never speak to them ever again. Like I don't understand that part. Like sales and marketing are of course the bread and butter of your business. That is what increases the revenue. So you need to make sure your specific time instead of fulfillment and stuff, which is also very important, but just hire those people out for fulfillment and stuff. You can, Like I'm pretty sure you can just find somebody to kind of like take care of that for you, like competent individuals. But sales and marketing is sound like kind of like something you need to pay attention towards. You need to make sure like, okay, so yeah, I know I'm going to get this many leads. My close rate's going to be this. You can literally predict revenue. And then on a week by week basis, you're going to speak to a marketing company and just give them data on what happened. Like, hey, I generated 50 leads. 40 of them are qualified. 5 of them didn't show and 5 of them were XYZ. So this would give marketing good feedback on what's working. So if they are like— the one mistake I don't want you to make is if your marketing company is generating qualified leads and you just can't close and you give your marketing company invalid feedback to the point where they turn off a campaign that is actually generating you qualified leads, but you didn't— you couldn't close them. You're basically just putting mud over a gold mine. You're just filling that back up because we just discovered a gold mine. Now you just have to work on step 2, which is closing them. So actually be honest with yourself, like get the leads, contact them. If they're picking up, if they're actually your ideal customer profile, but you just can't close them, that's something you need to work towards. Getting more leads, getting more calls. That is something you will do. This is something we help people pretty much do on a daily basis, but we also sit down with them one-on-one to kind of like review their calls and kind of like see what's going on. And then if they can't necessarily, if they have an issue, like we have them, like we literally tell them like, hey, just be honest. Like, were you able to close these people? Like what's going on? And then we literally take the transcript, put it into some sort of AI. Like we have a custom AI bot that reviews all the calls. It's gonna give them honest feedback. It's like, hey, yeah, so this is where you messed up. This is where you messed up. This is where you messed up. When a person says, I need to think about it, you just said, okay, I'll talk to you later. Like a proper sales process would never entail that. So I wanted to make this video kind of raw just to kind of like highlight the importance of what happens when a lead comes in, because leads is something you will solve for. This is something we do for hundreds of businesses. We'll make sure you have qualified leads. But the next step is also very important. And you need to have honest conversations with the people you hire and also with yourself. Like, hey, am I able to close these leads in the first place? And how do I do that? All right. And that being said, if you still have an issue with, you know, people barely knowing you, who you are, or you're not even getting any qualified leads, or like you're just still relying on word of mouth and referrals, there's a link in the bio. We also have our website, but there's a link in the bio. There's a Calendly link. You can book directly with me. I'm happy to speak to you. And, um, you know, just get your business ramping up. And then of course we're going to be talking more about these conversations, um, pretty much on a very consistent basis because these conversations are the ones that actually help you scale, not the ones that are pretty much kind of on an email thread or something that's going to like pump you up. Raw, honest conversations are usually the ones that help businesses scale the most. All right. And I'll see you in the next video.