Entrepreneurship is exciting, the risks, making connections, surviving pitfalls, tasting success, and everything in between. Above that, generating leads is the thrill that drives most entrepreneurs. Not only does it get the entrepreneurial blood pumping, but generating leads is highly important for any business. Therefore, let’s talk about how you can generate leads for your business, without investing your money in doing so.
What is lead-generation and why is it important for your business?
Let’s say you have a great product or service, you’ve done your market research, you’ve analyzed potential customers, and are ready to earn big bucks. What’s missing? The link between you and the potential customers. You may have the best idea and strategies, but they won’t earn you a penny unless you get people knowing about your business, a.k.a.generate leads for your business.
That’s where generating leads for a business holds importance and here’s how it is beneficial:
- Targets precise customers and increases customer-base.
- Increases brand and product awareness.
- It is cost-effective
- Helps to increase sales of products and services.
- The ultimate benefit: more leads equal more sales and more sales equals higher revenue (mostly).
Generate Leads for Your Business
While there are various marketing tactics used to convert prospects into potential customers, not all the tactics work for all entrepreneurs. Thus, we bring you tried and tested techniques to increase leads for all types of businesses:
1. Cold Contacting
You may be starting a new business or expanding your existing business. Either way, it is important. Now, cold calling may have been dead or out of style (for some), but it surely showed great results in the past.
So the trick to do it right is to remove what killed cold calling and improvise it. Send cold emails. Not randomly to anyone, research your prospects, and contact them. Also, make sure you follow up with the people you’ve contacted. It could be in the form of a survey, interview, or simply asking for advice. Sooner or later, they’ll turn into a lead and, eventually, customers.
Also, understand, your prospects will respond only when you provide them with something. That brings us to next
P.S. If you use cold calling, continue with it, explore what works best for you.
For around 85% of expert marketers, marketing is an important channel to generate leads for the business. Given that marketing has many forms, here are some ways to do it effectively to generate better quality leads:
- Referral marketing: It refers to recommendations of your business and products or services by your existing customers, clients, or personal connections. In simple words, it is the word of mouth, and it spreads well enough to attract prospects. According to a study, companies with referral programs had 40% of their leads coming from the same.
- Influencer Marketing: This marketing strategy is designed as the next step to referral marketing. It includes attracting your prospects with the help of influencers to ultimately turn them into business leads. Red Bull, however, knows how to take this to the next level. The company launches influencers and artists like Divine and their tie-up turned out to be a win-win for both.
3. Utilize Social Media
It cannot be emphasized enough: social media is important to generate leads. Period. With around 3.5 billion social media users, it’s not affordable to ignore this lead-generation strategy.
Keep your profile updated and optimized to be more appealing and to attract. Also, don’t just use social media, utilize it. In simple words, posting on social media is not enough. For generating quality leads, you need to track your posts performances, analyze your followers, and remain consistent.
- Facebook: Facebook holds the maximum of overall social media customer-base with 90% of total people using the platform. Facebook ads help in a long way, however, you can also connect with prospects in groups.
- Instagram: Simple hashtags, strike that, relevant hashtags on Instagram can get you tons of leads. With regular posting, Instagram could be one of the biggest lead-generation platforms for your business.
- Twitter: It has got it all, from the biggest celebrities’ posts and announcements to sharing news, views, and opinions. Twitter users are rather logic-friendly and open to discussions. Thus, a better opportunity for engagement with prospects and turning them into leads.
- LinkedIn: Amongst all the big social media platforms, LinkedIn is specially designed for professionals. Thus, creating blogs and building a network on LinkedIn results in getting strong leads.
Also, as entrepreneurship is about the spirit of helping while growing, help your prospects on social media, give them better reasons to join your customer base.
4. Blog (with SEO)
With the increasing impact of digitalization, many businesses have an online presence. For those whose business is not, you’re missing out on a big chunk of your revenue.
To get started, build a blog. It works for all businesses as it doesn’t necessarily require a product or service. Just valuable and consistent. (Well, that’s actually half of it. ) The other half is SEO (Search Engine Optimization). While valuable content helps to attract the prospects, SEO is what helps a business reach them. In other words, SEO helps Google to discover and rank your website.
Also, read: How to leverage SEO for more B2B business leads
While blogging, consider these to attract prospects:
- Offer free tools. It could be an e-book, a tool, or a giveaway contest. That will assure them that your motive is not just to earn money but also to provide value. Also, you could ask users to share information like email or phone number, and there increased your leads.
- Optimize your site frequently to reduce the bounce rate.
- Share interviews of influencers on your blog and social media. Make sure your customers respect these influencers and get value from the interview.
- Engage with your leads: on live chat and comments.
- Post unique and informative content on other blogs.
- Conduct online webinars and workshops to influence your prospects.
It will not only help you engage with your potential customers but also promote and market your product and services better.
5. Third-party-listings and Events
The best part of collaborating with a third-party lead generation service is that they’re probably experts. With the use of lead-generation tools, these third-party-listings take your business to exactly targeted prospects within their wide network.
In addition, an offline way of doing the same is by organizing events. Events are a great way to attract and engage with your prospects. Educational, musical, food truck, internship fairs can market your business and immensely attract prospects to convert into leads and customers.
Mainly, be authentic with your prospects, leads, and customers. Once they know it is all a front, that could turn into the biggest deal-breaker.