Create a Lead Generation Plan In the end, the goal of a lead generation plan is for you to have a solid idea of how many potential customers, aka leads, you will need to generate in order to meet your monthly recurring revenue (MRR) goals. The purpose of a lead generation plan is to create a list of potential customers with contact information. Plans will vary widely between companies. In the end, the goal of a lead generation plan is for you to have a solid idea of how many potential customers, aka leads, you will need to generate in order to meet your monthly recurring revenue (MRR) goals. Calculate this number in 3 easy steps: 1. First consider your ratio of leads to closed deals. a. For example, let’s say on average you close one deal for every 10 prospects. If you need to add five new customers in Q1, you’ll need a list of 50 leads. 2. Next, consider your average deal size. You may also be interested in: b. For example, let’s say your typical monthly contract is around $2,000. 3. Using this information, calculate the number of leads necessary to meet your MRR goal. Pretty straightforward, right? Many MSPs struggle to accomplish this because they Operations Made MSPeasy View Now don’t have a person on staff that is dedicated to marketing. This is because most MSPs come from a tech background rather than a business background. However, if you are serious about growing your business, there is no other way around it. According to Sitima Fowler, co-CEO of NY-based MSP Capstone IT, the company’s success largely comes from her dedication to lead generation efforts. “My primary responsibilities are marketing, business development and sales,” she said. 3 | datto.com This kind of focus allows Fowler to put in the sustained effort necessary to consistently develop new business. Fowler strives to delegate all technical and/or administrative tasks to other employees so that she can focus solely on If your intent is to grow, pick the most suitable person for sales and reduce their billing requirements [to let them focus on sales part-time]. business growth via lead generating marketing efforts. While many MSPs don’t have the option to move a current employee, especially a C-level figure, to marketing full-time, these efforts are not going to happen on their own. “If your intent is to grow, pick the most suitable person for marketing and sales efforts and reduce their billing requirements [to let them focus on these tasks part-time],” said Andrew Hutchison, Senior Infrastructure Andrew Hutchison Senior Infrastructure Consultant Blackpoint IT Services Consultant with Blackpoint IT Services in Tukwila, WA. To ensure accountability, it is critical that you track your progress toward your lead generation goals we just calculated. There are a variety of methods to do this, from a basic spreadsheet to a sophisticated CRM tool. Bigger companies with a larger client base are more likely to benefit from these types of solutions. You may also be interested in: The approach you take for measuring your success will be dictated by the specific needs of your business. Once you’ve selected your tools for measuring your progress, schedule regular meetings (monthly) with all responsible stakeholders to review your numbers. Are you on track? If not, brainstorm as a group new strategies to try in order Social Media Made MSPeasy Download Now to hit your numbers. According to Shulmistra, it is essential to map out your lead generation plans and vary your approach. “There’s no magic elixir,” he said. “When developing lead generation processes, you need to try different things and keep fine tuning over time.” 4 | datto.com