How can you generate new leads through your existing network?

1 Identify your ideal customer profile

Before you start reaching out to your network, it's important to have a clear idea of your ideal customer. This will help you narrow down your target market, focus your message, and save time on unqualified prospects. To create this profile, you need to consider factors such as their goals, challenges, and pain points; their demographics, industry, and location; their buying criteria, budget, and decision-making process; and how they prefer to communicate and receive information. You can use tools like CRM, surveys, analytics, or customer feedback to gather data and insights on your ideal customer profile.

2 Segment your network by relevance

Once you have your ideal customer profile, you need to segment your network by relevance, which involves categorizing contacts based on how likely they are to be interested in your offer, their level of familiarity with you, and their influence. A simple ABCD system can be used for this purpose: A contacts are existing customers or advocates who are happy with your product or service and can provide referrals, testimonials, or case studies; B contacts are warm leads who have shown some interest in your offer; C contacts are cold leads who fit your ideal customer profile, but have not expressed any interest in your offer; and D contacts are irrelevant contacts who do not fit your ideal customer profile or have no need or interest in your offer. You can use tools like LinkedIn, email, or phone to segment your network by relevance.

4 Reach out and follow up

The final step is to reach out and follow up with your network. You need to use the most appropriate channel, tone, and timing to communicate with your prospects, based on their preferences and expectations. You also need to provide value, personalize your message, and build rapport with your prospects, based on your relationship and history with them. You need to follow up with your prospects until they either move forward in the sales process, or opt out of your communication. You can use tools like calendars, reminders, or automation to reach out and follow up with your network.

By following these four steps, you can generate new leads through your existing network, and grow your sales pipeline with qualified and interested prospects.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?