How is your sales pipeline looking right now? After navigating the rollercoaster of the past several years, many business owners are realizing that it’s time to reprioritize lead generation.
Whether you’re running a professional services company with a lengthy sales process or a local business relying on daily foot traffic, it’s crucial to consistently invest in and keep up with marketing so you’re always attracting new customers. That’s sometimes easier said than done—especially when factors you can’t control impact your business, uproot your projections, and jumble your operations.
A new year always brings an opportunity to reflect and reset. In 2024, the name of the game is going to be to generate leads at a steady pace. Let’s trace our steps to understand how we got to this point.
Without saying the p word and reliving the unfathomable, we all know that 2020 was a year spent in survival mode—literally, figuratively, physically, financially, and emotionally. It was a battle fought on many fronts, particularly for business owners who had to fight tooth and nail to sustain operations during global shutdowns. Let’s of course acknowledge the grim reality that many lives and livelihoods were lost during this time. Survival was (and always is) much more than a business matter.
As the “new normal”—aren’t we all glad that term is in the past—began to take shape, business owners had to adapt alongside it. Restaurants improvised to build outdoor dining. Manufacturers pivoted to producing essential supplies. Companies of all types and sizes learned how to work remotely. No matter your industry, you almost certainly had to reconfigure your business in some way. Aside from businesses that had favorable products and services for the changing times, most companies needed to prioritize operations and existing customer relationships over marketing and sales.
By 2022, people were beyond eager to return to their routines, pastimes, and busy lives. As the world nudged its way toward a sense of semi-normalcy, a pent-up wave of demand was unleashed on all but a few still-hindered industries. That’s when staffing became the big struggle to meet the sudden surge in activity. It was a welcomed challenge considering previous hurdles, but still a challenge, nonetheless. Companies across various sectors found themselves in a position to grow like never before, fueled by a significant cash influx into the national economy. The growth potential was limited only by how fast they could hire workers and fulfill sales.
After the whirlwind, 2023 brought a much-needed respite from the ups, downs, twists, and turns. It has been a year to regroup, reassess, stabilize operations, and simply exhale knowing that business can finally be “as usual.” Savvy business owners have spent the time updating their marketing tools and processes, refining strategies, and balancing customer service with company culture. 2023 is a refreshing reminder that all circumstances are temporary and when the circumstances are negative, things will always get better. That said, the relative normalcy might have lulled some of us into complacency.
The tumultuous years, punctuated by a period of stabilization, have perfectly set the stage for 2024 to be the year of lead generation. It’s time for businesses to refocus their efforts on driving leads daily and building a strong sales pipeline.
Undoubtedly, there are economic factors casting a new shadow of uncertainty and business owners are asking, “What happened to all our leads?” We have seen it directly with our robust client list across various industries. The long line of prospects and projects is shortening and businesses are on pace to match their 2019 sales numbers. Why? Multiple reasons:
- Continued talk of a recession
- Exhaustion of public assistance funds and other programs
- Stagnant real estate market
- Return of regular travel
These challenges aren’t necessarily reasons to worry, considering everything you have overcome to this point—but they underscore the importance of having a robust marketing plan for 2024. When you’re constantly generating leads, you’re simultaneously mitigating risk and establishing continuity.
Now is the time to map out your strategy. What channels will you use to generate leads? How will you nurture these leads through your sales funnel? How will you measure the success of your efforts? Remember that lead generation is more than just a numbers game. It’s about creating meaningful connections with potential customers, understanding their wants, and positioning your business as the solution to their needs. So, let’s embrace 2024 as the year of lead generation and get ready to take your business to new heights. Contact us to get started on your 2024 marketing plan.