\n
​
\nEvery business needs leads. Yet 99% of Startups get lead generation wrong.
\nLast Friday, Alex Urquhart and I ran a LinkedIn Live on this exact topic, and I've summarized our talk below.
\nIf you want to watch the Live for yourself, click here.
\n​
\nToday, we'll cover:
\n​
\nLet's start with three definitions:
\nWhat is a \"Lead\":
\nWhat is \"Lead Generation\":
\nWhat do 99% of Startups get wrong about Lead Generation?
\nLead Generation is not something you can sit down and do. It is all-encompassing, from the problem you wish to solve to how you generate attention.
\nBelow, we'll cover three big mistakes we discussed during the LinkedIn Live.
\n​
\nGrow Beyond Survival Mode
\nWhen a business is starting, it's in survival mode. Every day is about surviving, and 100% of the focus is on the next dollar of revenue.
\nHowever, by hyper-fixating on the next dollar, you're only ever speaking to the 3% of your market actively looking to buy.
\nDuring our Live, Alex expanded; 82% of active buyers have been \"pre-influenced\" by an alternative supplier.
\nBy staying in Survival Mode, at best, you can capture 1 in every 185 buyers in your market.
\nNot great odds.
\nInstead, Startups should grow beyond Survival Mode and apply short-, medium-, and long-term Lead Generation strategies.
\nHere is a breakdown of how and when to move beyond Survival Mode.
\n​
\nThere are no Silver Bullets
\nIt's a myth that any tactic, campaign, channel, or lead generation effort will instantly work and solve all your problems.
\nThe mistake we see is that many Startups try to do too many Lead Generation activities simultaneously or give up when a particular activity isn't an instant unmitigated success.
\nThe best Startups focus on one or two Lead Generation activities (for example, SEO, LinkedIn direct messages, or modding a subreddit). And they need to stick with them for a year or more.
\nOnly focus, over time, leads to unmitigated successes.
\n​
\nIs the Problem Your Close Rate?
\nLastly, and controversially, most Startups have enough leads, but they don't close enough of them.
\nStartups with 5-10 weekly sales conversations and a close rate below 10% is alarming. Below 5%, something needs to be fixed with that business.
\nInstead of desperately trying to get in front of more people, many Startups should focus on improving close rates.
\n​
\n​
\nUntil next week,
Scott Cowley
​
\nDid you like what you read today? Consider forwarding it to a friend, colleague or team member.
\nDid someone forward you this email and it seems like something you want more of: Link to subscribe​
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Hey, 👋 Scott from The Sales Mastermind here. Today’s edition only takes 2 minutes. ​ Every business needs leads. Yet 99% of Startups get lead generation wrong. Last Friday, Alex Urquhart and I ran a LinkedIn Live on this exact topic, and I've summarized our talk below. If you want to watch the Live for yourself, click here. ​ Today, we'll cover:
​ Let's start with three definitions: What is a "Lead": A lead is anyone who has opted in to you/your product/your business. Leads are the step before you have a chance to qualify them. What is "Lead Generation": Lead generation is the process of finding leads. What do 99% of Startups get wrong about Lead Generation? Lead Generation is not a task; it's a company strategy. Lead Generation is not something you can sit down and do. It is all-encompassing, from the problem you wish to solve to how you generate attention. Below, we'll cover three big mistakes we discussed during the LinkedIn Live. ​ Grow Beyond Survival Mode When a business is starting, it's in survival mode. Every day is about surviving, and 100% of the focus is on the next dollar of revenue. However, by hyper-fixating on the next dollar, you're only ever speaking to the 3% of your market actively looking to buy. During our Live, Alex expanded; 82% of active buyers have been "pre-influenced" by an alternative supplier. By staying in Survival Mode, at best, you can capture 1 in every 185 buyers in your market. Not great odds. Instead, Startups should grow beyond Survival Mode and apply short-, medium-, and long-term Lead Generation strategies. Here is a breakdown of how and when to move beyond Survival Mode. ​ There are no Silver Bullets It's a myth that any tactic, campaign, channel, or lead generation effort will instantly work and solve all your problems. The mistake we see is that many Startups try to do too many Lead Generation activities simultaneously or give up when a particular activity isn't an instant unmitigated success. The best Startups focus on one or two Lead Generation activities (for example, SEO, LinkedIn direct messages, or modding a subreddit). And they need to stick with them for a year or more. Only focus, over time, leads to unmitigated successes. ​ Is the Problem Your Close Rate? Lastly, and controversially, most Startups have enough leads, but they don't close enough of them. Startups with 5-10 weekly sales conversations and a close rate below 10% is alarming. Below 5%, something needs to be fixed with that business. Instead of desperately trying to get in front of more people, many Startups should focus on improving close rates. ​ If close rates, searching for a silver bullet, or being stuck in survival mode is your problem - reply to this email, and let's see if I can help. ​ Until next week, ​ Did you like what you read today? Consider forwarding it to a friend, colleague or team member. Did someone forward you this email and it seems like something you want more of: Link to subscribe​ |
I help founders who sell, but aren't "sales"people. Are you open to one hyper actionable sales tip per week, useful for your very next sales meeting and consumable in 4 minutes or less?
Hey, 👋 Scott from The Sales Mastermind here. Today’s edition only takes 3 minutes. We're back, baby! 2025 is going to be a big year. Here is what you can expect from The Sales Mastermind Newsletter: Weekly (or close to) newsletters which are 4 minutes or less A heavy focus on Founders who sell but aren't salespeople to close more deals, build the right systems, and hire a sales team A mix of quick tips, longer stories, hyper-actionable techniques, and more Occasional extra sections such as...
Hey, 👋 Scott from The Sales Mastermind here. Today’s edition takes less than 2 minutes. TLDR version: I am pausing this newsletter until 2025. Also, read below for the last chance to work together in 2024. Pause (for now) Firstly, thank you for being part of the journey of The Sales Mastermind Newsletter so far. I’ve been publishing more or less weekly since mid-2023, and I hope you have been learning and growing from the tips, tricks, and ideas. I have gotten so much out of the newsletter,...
Hey, 👋 Scott from The Sales Mastermind here. This week we have a longer newsletter that I original wrote for my buddy Nate Ritter over at Founder Labs. Founder Labs Writings is a place for SaaS founders and agency owners. Written by an ex-7-figure agency owner, 3x-exit founder, and SaaS entrepreneur. Sent irregularly, but always with value. Check it out here. Today’s edition takes 8 minutes. This newsletter is for leaders of two types of early-stage SaaS: You have some paying customers, most...