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You have many ways of generating leads for your business: mailers, fliers, phone book advertisements, radio, and television. As well, there are networking activities like joining a particular group, sharing your experiences, learning about others experiences, and using word of mouth. You also have trade shows, where you can meet (at a good one) hundreds to thousands of people and as they stop by your booth or you stop by theirs. There is Internet Marketing, where there are keywords and search engine optimization activities that are designed to drive traffic to your website and have people interact with your call-to-action items on the web. All of these are good ways to generate leads and each have different levels of tracking, effectiveness and return on investment.

Another, tried and true ways of pitching your businesses’ goods or services to a group of prospects is a lunch and learn. Where you get a group of anywhere from 20 to 40 people in a room, feed them a good meal (sometimes there is a giveaway) and you hopefully have a captive audience for a hour to a hour and a half to relationship build and pitch your solutions, goods, and/or services.

Measuring the return on investment on a lunch and learn is easy. You take the cost of the event. For an example let’s say $2,000.00. You want to invite 20 targeted prospects to the event. Then divide the total cost ($2,000.00) by the number of prospects you would like to attend (20) and you have $100.00 per prospect to attend your lunch and learn event.

Then take the margin of a single solution, good, or service that you would like to talk about specifically (typically you would only pitch one concept). For a $10,000.00 solution at a 6% margin you have $600.00 in margin. You would need to sell four solutions to pay for the event; average close ratio is 20%. You should pay for the event and have 16 new targeted prospects to put into a lead nurturing campaign for the future as well as four new customers for your sales representatives to dig deeper and find more opportunities.

There are many ways for generating leads for your company and each have their different return on investment of time and money. One of the proven ways is a lunch and learn event. You have a captive audience that is there not only for a good meal but wants to hear about your business and how you can help make their lives easier.

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