What Constitutes A Really Hot Lead?

I got a call from a colleague last night and he was lamenting to me about how the leads he is getting from his current group are just not up to standards. Fact is, I’d let him in but his industry is already taken in our lunch group. Maybe the breakfast group that I plan to launch in September? (smile)

As we talked the discussion covered a number of other topics relating to leads groups in general. These included many of the typical challenges that I am all too familiar with: people not showing up, folks not bringing leads, leads that people bring are sub-standard at best. More of a social gathering vs. a business meeting. At NetWorks! we have a cure for that problem. We encourage those folks to find a group that may be more suited for their needs. Mind you, these are all great people and with great businesses. The simple fact is that NetWorks! is not for everybody.

We require a minimum of 75% attendance and just about always are above 80. Yesterday we were at 88%. We ask you to bring an average of 2 good leads, referrals, or lead updates per week and we meet or exceed those numbers consistently. At yesterday’s meeting, we posted close to 40 of these to our web based CRM. We also place a strong emphasis on complete leads to include a good description, contact name, and contact info such as a phone number and/or email address. Sometimes getting all of this is information can be a challenge.

I should also tell you that NetWorks! is not structured as a member run organization. In fact, it’s pretty much a dictatorship albeit a benevolent one (smile). What this means is that I run NetWorks! like it was a business. Wait a minute. It is a business. At least it’s supposed to be (smile). What this means is:

1. You will never be asked to be the president, the treasurer, or a board member.
2. You will never be rewarded for doing a good job by being asked to do it again for another year (smile).
3. You will never be placed in the uncomfortable position of asking somebody to leave because I have no problem in taking that responsibility if necessary. Bottom line is, it’s better for both that member and the group if we part ways.
4. You will have consistent leadership. It might suck, but it will suck consistently (smile).
5. You will have a dedicated secretary who will handle all group responsibilities, update all leads, and research those leads that do not meet minimum standards for publication. That’s what you pay me to do.

So, what constitutes a really hot lead?

1. It is timely. The earlier the better. “So and so “opened up shop last week is not a good lead unless “so and so” needs a particular identified product or service.
2. It’s “clandestine”. You did not read about it in the paper or on the internet. It’s not out on the streets.
3. The description is complete. Complete enough that I should be able to fully understand it (and read your writing) and after I have posted it, everybody else will have a clear view of the scope.
4. You provide contact info including: name, title, phone(s), email, website, alternate contacts & numbers, and whatever other information may be pertinent.
5. You indicate that another member can use your name if appropriate. Not every lead can meet this standard but more should.
6. Even better, you have talked to the client and they are expecting your fellow member calls.
7. Even better better, you have discussed the specific need with the customer and have told them that you have the perfect person/company to meet their needs. And, guess what? Your customer will love you for that valuable service!

Now then, at NetWorks! we focus on a variety of lead types:

1. Direct Referral: “Craig, call John Smith. He is expecting your call regarding………..”
2. Member Need: “Yo, Craig! See me after the meeting. I need your help with……….”
3. Specific Service: “Hey, Craig. I understand that XYZ Company is looking at ………..”
4. General Opportunity: “I am told that ABC Inc. is planning to move, expand, ……….”

These general leads are some of my favorites because they will typically provide opportunities for a large number of members. Armed with some solid information, it allows each member to make that call and perhaps create a need based on business intelligence and to be able to do so before his or her competition knows that this opportunity even exists. One thing about folks calling your office from the phone book, if your name does not start with the letter “A”, count the listings in the book that appear before yours and that will likely be the minimum number of your competitors that will be in on this deal (smile).

Well, I have probably left a lot of other criteria out. This is your chance to leave a comment and add to this list. Or, tell us about the worst lead you have ever seen given out. Somebody just told me that at a local leads group recently, one lead was that KFC now serves grilled chicken (smile). In the mean time, please take a couple of seconds and rate your existing leads group:

[polldaddy poll=1619356]

Thanks for visiting!

Craig