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030: Using Lunch & Learns to Generate New Leads pt. 1

On today’s episode, we talk about one of my favorite methods for generating new leads, the lunch and learn. Byoffering to take prospects out to lunch, or catering lunch at their office, you can get face time in a non-invasive, casualsetting. This episode is part 1 of our series and focuses on the benefits and preparation of a lunch and learn. Episode36 will be part 2 and cover how to actually conduct a lunch and learn that generates leads (and closes deals).

Benefits Of A Lunch And Learn

There’s a lot of noise in the security industry, and you can be sure that property managers and other potentialcustomers have received calls and pitches from other competitors. Offering to buy or cater lunch seems like a littlething, but it helps cut through the noise and show that you’re willing to make a tangible commitment too them.

Plus, everybody has to eat lunch. Even if they’ve got a loaded schedule for the rest of the day, they can find time toeat and talk. You immediately get them outside of the formal “pitch” context, where they’ve got their guard up, and canestablish more of a connection.

“It’s a great way to build that relationship with that client,” I tell Johnny. “It beats the normal presentations that are outthere today.”

You also have a better chance to build a connection since lunch will usually go longer than a normal presentation.That means more time for Q&A, less pressure, and the opportunity to learn more about their business. Plus, who’sgoing to cancel on a free lunch?

How To Prepare And Get A Commitment

Offering a lunch and learn gives you a better chance of getting a commitment than a traditional presentation, but youstill need to come in prepared. Ideally, don’t just call up a potential lead. Research them ahead of time, come in, askfor a specific person, and come in with menus in hand. Try to collect orders ahead of time to lock down attendance.

If at all possible, aim to host it at their office. That will be more convenient for them, everyone will be morecomfortable, and you’re more likely to get the attendance of key decision makers. Have a hotel conference room orrestaurant with a private room prepared as a backup.

Finally, have an agenda prepared. Again, this means researching ahead of time to find out what kind of properties theymanage and what specific needs they might have. I would often target regional managers representing multipleproperties, which meant lot of opportunities, but also lots of preparation.

Try It Out

If you’re not sure whether this marketing strategy is right for you, try a test. Do three lunch and learns. If you don’tclose any deals, you don’t have to try it again, but closing just one will more than pay for all three.

“I’d venture to say you’re going to walk away with some deals after putting on three lunch and learns,” says Johnny.

Topics: Business Development, Podcasts