I was annoyed.
I had just returned home from a supermarket run only to discover, whilst unpacking, that I already owned a good percentage of the items I’d just bought. Yet again.
They were hidden away at the back of my pantry, totally forgotten. Or squashed into the freezer, difficult to spot.
It was a colossal waste of money (and my time), because we weren’t making use of the groceries we had already bought.
That’s why, in the last few months, I’ve become a lot stricter about cross-checking the items I think I need… with the items already in our cupboard.
It’s common sense, right? You should make the most of what you already have, before buying more of the same.
And you should follow the same principle when marketing your business, too.
Everyone wants new leads
You see, if you’re like most business owners, you probably spend fortunes on bringing in new leads.
You might advertise on Facebook or LinkedIn… Use AdWords… Or create snazzy videos to capture the contact details of new people who might be interested in your product or service.
If you’re not doing that already, it’s likely a priority for you.
Practically every business owner I’ve ever met has wanted more leads (unless their business was struggling to handle the volume of enquiries already coming in).
…But first, nurture the leads you already have
But before you invest a penny or a cent more generating those names, stop and think carefully….
Do you already have a pool of good leads which could be nurtured and converted?
It’s the worst missed opportunity in your business.
If the answer is “yes”, then don’t waste your money on new leads. First, make the most of what you already have.
It’s a lot more cost-effective…
…and often a lot more effective, period, because many of your existing leads will already know you or have a relationship with you. They’re your low-hanging fruit.
I can’t tell you the number of times I have discussed lead-generation with a prospective client, only to discover that they are sitting on an email database of 1,000…. 3,000…. 20,000…. and in some case, 40,000 or 50,000 prospects….
…and have either never emailed them at all, or send them some half-hearted, limp newsletter every other month.
It’s the worst missed opportunity in your business.
Your email list contains your future clients
If you have a database like that, there is a good chance that it contains the name of every single new customer you’ll need for the next 12 months and even several years ahead.
Some of the people on the list have probably already shown an interest in what you offer.
So given that email has the highest ROI of all online platforms…
And that you can sell on email in a way which is virtually impossible on social media….
Nurturing and converting the heck out of that email list should be your top priority.
Not gathering new names.
Miriam Shaviv is author of Discover how to write high-converting emails in 10 minutes or less – Guaranteed!
She is director of content at Brainstorm Digital, which helps companies generate leads, enquiries and sales online.
