Understanding Profit Based Leads in Your Service-Based Business

December 22, 2020

If you run a service-based small business, you truly understand the importance of consistent leads. Without a steady stream of incoming clients or returning customers, it can be difficult to run a profitable business. With our altered reality, many business structures have required a shift in how they do business. With the urge to transition online, almost worldwide, we have seen many industries and businesses change the way they had been doing things, including sourcing new leads!

We all know how difficult it is to work so hard running your business that we often find ourselves leaving lead generation as an afterthought. This can cause ups and downs in our businesses that are not a necessary evil. There are tactics you can use to make things easier on yourself! 

So let’s jump right in! 

How much is a new client worth to you?

Now, we are no financial advisors, but we do know that it is crucial to all businesses to know their numbers. This is where success begins and ends. You must be able to calculate how many customers you need for your business to survive and thrive. How much is a new client worth to you? 

Knowing how much a new client is worth will help you determine what kind of investment you’re willing to put towards acquiring those new customers. Or better yet, if your business model allows, retaining return customers. 

How to generate new leads

Once you finalize your numbers and figure out how many customers you need and how much each new customer is worth to your business, you should begin brainstorming how to generate new leads. 

Some businesses may opt for a referral program, traditional advertising, or cold calling. Marketing and lead generation has changed drastically over the years, and the options are extensive! With a world that seems to be headed online, now more than ever, having a strong website with an SEO strategy and targeted marketing can prove to be quite lucrative. 

If you think about it, it does make sense to tailor your lead generation efforts to specific individuals. With the technology of today, by using the right tips and tricks, you can get your information in front of the eyes of individuals that have already expressed interest in your services. This makes the process that much easier!

How to determine your optimal investment

But with websites, SEO, and targeted marketing, how do you know what to invest your time and energy into?

Again, if you’re busy running your business, it’s nearly impossible to keep up on the latest website and marketing trends. You may decide to outsource these tasks to a marketing agency that can help you determine what might be the best course of action for your business as well as maintain your chosen plan of action. 

No two businesses are the same and what works for one may not work as well for another, so it’s important to work with a professional with marketing experience. 

If you’re ready to tailor your business to generate profitable leads, give us a call to see how we at The Mug Creative, can help!

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By: The Mug Creative

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