509. Ulrich Riedel, Cold Lead Generation
Unleashed - How to Thrive as an Independent Professional
Introduction
Ulrich Riedel talks about his unique pricing model for cold lead generation via LinkedIn. His advice: Respect your leads, be aware that it's expensive and you need external help to make it work. He says the downside is close to zero in the sense of if you would write, you can't damage your reputation.
Ulrich Riedel and Will Bachman discuss Ulrich's unique cold lead generation process via LinkedIn. Ulrich advises to respect the leads and to be careful to select only candidates who would benefit from this process and to be careful not to spam. He shares why he chose to find leads this way and explains why there is more upside than downside to his process. He explains that the process involves several aspects such as researching the prospects, creating a message, and following up. He also suggests focusing on building relationships and emphasizing the value of the offer. Finally, he stresses the importance of tracking results and being persistent.
Using LinkedIn Sales Navigator to Contact Leads
Ulrich offers three pieces of advice on how to use LinkedIn Sales Navigator to reach out to potential leads. He stresses the importance of your investment in time and money investments to ensure the leads are super targeted, as sourcing too many leads that do not fit the needs of the company will be a waste of the time and money invested. He emphasizes that real expertise and external help are needed to set up the process.
Hiring an Expert in Lead Generation
Ulrich discusses how he hired an expert to help him with his lead generation process. The expert used a Sales Navigator, which is a powerful search tool, to look for leads and contacts, and then organize them in groups and tag them to make sure none were duplicated. Ulrich created the messaging, but they were responsible for sending out initial connection requests and any follow-up messages. Once a prospect accepted and engaged, the expert would set up a call in the prospect's calendar and then hand the contact over to Ulrich to handle. Ultimately, the expert helped Ulrich to find, organize, and contact the leads, which saved him time. He talks about his direct and concise communication technique that helps him build a connection with suitable prospects.
Reaching the Right People through LinkedIn Sales Navigator
Ulrich helps reduce implementation risk and increase project value for large complex projects and strategies. He has been doing this since 2004 and has found that his initial connection requests were not reaching the right people. He now targets Senior Vice Presidents and above in companies with $3 billion or more in Germany, Switzerland, and Austria. His current connection requests are clear and direct, stating his goal to reduce risk and increase project value followed by an offer to explain how he would achieve this for the person he is reaching out to. Once he has secured a lead, Ulrich transfers the client from LinkedIn Navigator to his own CRM system to keep track of communications, campaigns, and status etc. He explains how and when he makes first contact, how he follows up with them, often using GetEmail and RocketReach to find emails of his clients, and how he schedules meetings.
Most importantly, Ulrich focuses on authentic and respectful communication. He stresses the importance of patience and persistence, and that following up with clients on a regular basis to remind them of the benefits they will receive from Ulrich’s expertise pays off. He finds that out of 100 connection requests sent, usually 20 will connect. He sends the 20 a longer message and roughly five will reply. Out of five, he will secure one client. Ulrich shares when and how he follows up with the other potential clients. He checks his CRM system daily and explains why he uses Outlook Contact instead of Hubspot.
Timestamps:
04:15 Exploring Strategies for Effective LinkedIn Outreach
05:05 The Benefits of Utilizing Expertise for Lead Generation
08:38 Maximizing Project Value Through Risk Reduction
10:51 Exploring the Benefits of a Custom CRM System for Lead Tracking
12:41 Lead Management and Prospecting Strategies
18:56 Building Professional Connections on LinkedIn
24:56 Networking Strategies for Building Trust and Connections
28:37 Utilizing Sales Navigator and CRM Systems for Lead Generation
30:13 Leveraging CRM Systems for Business Growth
Links:
https://www.drulrichriedelconsulting.ch/
CONTACT INFO:
https://www.linkedin.com/in/DrUlrichRiedel/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
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