Almost all MSPs count on referrals for new leads. Many of them are so complacent about this approach it narrows their vision on other realistic possibilities for lead generation. So if you want to jump ahead of your competition that sticks with the old playbook of only focusing on referrals for IT leads, read on.
Secret, Secret, They've got a Secret
Let's be clear: referrals are an important source of IT leads. But at the same time, you'll find that only a certain percentage of these leads are qualified to convert to sales. Many referrals are people just shopping around and asking questions.
Even though you might be at the top of their research list in the beginning all because someone gave them a positive review about your company, they will still likely investigate other MSPs as well. So if you don't make an incredible first impression, they may not remember you once someone else tells them what they really want to hear.
Another reason referrals drop off after making contact is that they were expecting a completely different set of services. Perhaps they expected a company to build and manage a website for them or create a database and those aren't services you offer. There are various other reasons why not all referrals convert to sales, especially budget concerns. So remember it's best to have multiple strategies for generating leads.
Managing Qualified Leads
Just as much as you cannot expect every lead to be qualified, you cannot expect every qualified lead to convert. That means you must take the necessary step of scoring your leads, so that you can prioritize your sales efforts in order to maximize productivity. In other words, you are better off chasing high quality leads most of the time, wherever they come from, rather than playing the hit and miss game of treating all prospects as equal.
The coldest leads that appear far from probable conversion should be filed away for future nurturing. There may be times when prospects stop arriving at your doorstep, which gives you the opportunity to contact lower scoring leads. You can create your own scoring system, such as "hot, warm, cold" or a 1-10 rating.
Try not to waste too much time with prospects that appear to be going nowhere or want to haggle over pricing. Unless your pricing is negotiable, it's best to keep disagreements over your fees to a minimum. Once they contact you by phone, what you want to be able to do is schedule a meeting in person, provided you have established them as a qualified lead.
