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5 reasons your business is always losing leads
It's no surprise that a lot of companies go out of business within their first 5 years of life. The majority of the time, probably 99% of the time, the companies going out of business are ones that couldn't keep the leads coming in. If you're not generating new leads all the time you're just going to end up closing your doors within a few years of starting up. You can't stay profitable if you're not growing and building up your sales. It doesn't matter if you own a company like Uber who is still losing money but is worth billions, you're going to close up shop if you don't start becoming profitable sooner rather than later. Uber is only "successful" because they're backed by hundreds of investors who have extremely deep pockets. You probably won't be as lucky as them, so you need to focus on bringing in new leads as often as possible.
In this discussion, I'll be covering 5 reasons your business is always losing leads, and those reasons are:
Your customer service is lacking
When it comes to creating a sale, most of the time a potential customer will try to contact you directly if they have a question, and that's where you seal the deal. If you're just sending them to your FAQ without answering them even slightly, you'll likely lose that sale because the person will see you as snobbish and not want to help them out. They can spend their money wherever they want, and the will likely spend it where someone is helping them throughout the entire process.
Stop using 3rd world virtual assistants who don't know proper punctuation and likely don't care if you lose a sale. Do the work and invest your time in the business so people see you as dedicated. I actually have VAs do some work for me, but it's only when I absolutely need them to or when I rarely go on vacation lol.
What you're doing fails to meet expectations
People will instantly have expectations of you, your services, and/or your products. If you're constantly failing to meet peoples expectations, they will gradually leave your business for a competitor of yours. If you say you're the best at something, or you have a specific feature that makes your system better than the rest, you better be damn sure it lives up to the hype and can hold it's own with your competitors. All it takes is one bad review, in the beginning, to really tank great website or business.
You don't have much value in your industry
When I'm referring to "value in your industry" I'm talking about the need for your product or service in your industry. If there is no need for your product or service, there likely won't be any sales coming your way, and that means you won't be as successful as you would like to be. Think about it, how often have you seen a dumb product go up for sale and then it's gone a month or two later, never to be seen again? That's because it had absolutely no value in the industry it was targeting and now it's a dead product lol. Don't be like those dead products, have some value within your industry and you will get some sales rolling in.
You're inconsistent in what your business is doing
One of the biggest business killers is that you're inconsistent with what your goals are and what you're trying to do. No one likes to come to a website and see you're trying to sell shoes and a month later you're trying to sell purses. People want to be loyal to a good business, but they will never stick around if you don't know what you really want to do. We get it, you want to make money, but that's the end result of knowing where you're trying to aim your business ideas.
You're using old-school sales tactics
Don't get me wrong, some old school sales tactics still work, but they're getting more and more difficult to execute if you're not being taught by someone who has been doing them for years already. Sure, you could go on YouTube and see how to do a handshake deal or elevator pitch, but if you haven't been testing these things for years you'll likely fail at them.
You need practice, so get out there and figure out what new ways you can bring in leads
Losing leads is a company killer, so you need to understand why you're not bringing in as many as you should be. If you're bleeding money, you'll go broke in no time, and that means you'll have to start looking for a day job and that's not something an entrepreneur wants to do lol. Be the best you can be in your industry and have some sort of value, then people will start to gravitate towards you and your website. Always have top notch customer service because that's what people will judge you on.
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