Let’s start with a fact: Not all leads are created equal!
Too many business owners take an approach that suggests reaching the most prospects (usually through email or telemarketing) will bring in the most sales. Somehow, that strategy doesn’t seem like it will be either effective or efficient, in most cases.
In early 1989, I joined the San Francisco Chamber of Commerce, during my days operating Designer Music. My major involvement, over several years, was participating in lead exchange groups (Business Alliance), run by the highly creative and very competent team of Irv Spivak. Irv, and his co-chair, Suzanne Tucker. The group met twice monthly, at the ghastly early hour of 7:30am.
The networking skills I learned during several years in Business Alliance were critical to the success of my business. One major point that Irv hammered home, was the definition of a qualified lead. He explained that giving another person a name and a number is NOT a sizzling hot lead.
He made it clear to the thirty of us, in the room, that the goal was to learn enough about the businesses in our group that we were an extended sales force for each other member. We should be able to ask enough questions of one of our contacts to connect them, clearly, with one of our fellow Business Alliance members.
The converse is even more important. In order to receive sizzling hot, qualified leads, it’s important to give them. It is your currency for reciprocation. When people see you are serious about improving their sales, there is a natural tendency to respond, in kind.
I would suggest that in lean times, one of the most powerful tools you have at your disposal is focused networking, giving qualified leads to wedding industry businesses. There is no sale that closes more easily, and is less price sensitive, than a qualified referral.
Ask yourself this: What people/businesses do you have relationships with, that you should be connecting with on a much more frequent basis?
Come up with a half-dozen answers to the question, and go get reacquainted. Make sure you listen, and find out how you can be a stronger ‘referrer of business.’
Be in touch. Stay in touch. Make qualified referrals. Get qualified referrals.
How tough is that? Irv & Suzanne would be pleased.
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August 24th, 2008 at 11:36 pm
Hi Andy,
Here we are almost 20 years later (yikes!) and the same principals still work. I have been a member of the Business Network International Civic Center Chapter for 4 years now. We are the oldest and most productive chapter of the entire BNI Int’l organization. Last year we closed over $2.5 million in verifiable sales from the referrals we generated and we are on our way to breaking that number again this year, in a RECESSION! Goes to show, powerful ideas stand the tests of time.
And if my memory serves me well, you were a monumental influence on our group in so many arenas. From mini brainstorming sessions to pointing out to us that you were the only DJ in town who always brought a back up system to every gig, just in case, to organizing our group into power partners. Thank you for this wonderful reminder of our humble beginnings. I am honored and blessed to continue to have you and many of the original members as my friends and to know we all, somehow, had a hand in each other’s success.
Much continued success to you and your readers and thanks for brightening my life yet again.
All my best,
Irv Spivak
August 26th, 2008 at 10:45 am
Irv,
Thanks for your kind words. It’s certainly instructive to hear you repeat sales points I made twenty years ago.
We all honed our ‘30-second commercials’ in Business Alliance.
Andy
August 28th, 2008 at 11:52 am
There is no guarantee but leads are good to have and use. My sister’s friends who are getting married already know where to get everything for their wedding. But it doesn’t always happen that way. Brides-to-be seek out the newest and latest things for their big day; those new and unfamiliar wedding suppliers need buzz and a face to get women’s attention. Aside from qualified leads, PR is the best tool for a business. The firm will listen and reach the target audience, helping the business get one step closer to the sale. I heard that the PR firm, 5WPR uses strategic communications in these cases for their large list of clients. Same should go with wedding-related businesses.