Lead generation is the surest way to enhance the growth of your business through increased exposure to potential customers. The act of sourcing for new customers as a means of increasing patronage isn’t new in the business world; however, the methodology of doing it in the past has greatly evolved. Different lead generation strategies have been in existence for long, causing customers to become unconvinced and almost immune to it.
As a business owner who’s passionate about his/her business growth, you need to keep your lead generation strategies up-to-date. In this article, we provide you with lead generation strategies that can work in the year 2020.
23 Lead Generation Strategies to Try
There are numerous leads generation strategies available for business owners to choose from, but the result of each strategy differs for each business. Some industries are best suited for social media marketing, while some may thrive with the mere use of word-of-mouth and customers’ referral.
The essential thing is for you to understand the strategies that best fit your business and avoid trying to make the wrong ones work. Implementing strategies that are not fit for your business leads to a waste of resources (time and money), they won’t yield the desired result.
Without further delay, below are the 23 best lead generation strategies you can employ, go through them and select the one that best suits your business.
1. Referral Bonus System
Referrals are undoubtedly one of the most efficient lead generation strategies, it can be easily tracked and analyzed for efficiency. Word-of-mouth advertising is still as important as it’s ever been—even if how people spread the word about their favorite businesses have changed with technology.
The best possible thing you can do is to harness the power of referrals? Attaching a particular incentive or bonus to referrals optimizes its result. It provides individuals with a means to earn extra money. A lot of people earn cash online by referring customers for brand, it is one of the most effective ways to make money without owning a brand yourself.
Therefore, as a brand owner, you should have a customized referral code for individual clients and prospects and attach a little incentive or bonus to it. Your incentives could be discount on first purchase for new clients, referral discount for existing clients and attached remuneration for freelance referrers. Referrals work well for online retailers, it helps you determine where leads are being generated the most and which ones are converting to clients.
2. Podcast Advertising
Podcasts have gain popularity in recent years which provides business owners the chance of turning listeners into leads with greater potential than using a regular radio ad. Since podcasts focus on specific themes, and listeners choose which ones to stream, you already have a good idea of what this audience will find interesting and relevant to their lives. Next, you identify the podcasts that best speak to your target audience and target your lead generation strategy there.
There’s always a podcast out there that tons of potential clients enjoy regularly. No matter what your brand is into, there’s a podcast for it. You can also employ the service of podcaster(s) willing to make quick money to produce your niche-specific podcasts.
A Podcast helps you advertise directly to an audience that is genuinely interested in your niche, unlike radio ads where a good part of your audience might not be interested in your product at all.
3. Direct Mailing
A lot of people don’t consider this strategy has modern, but taking a new approach to it could yield an optimal result. Direct mailing doesn’t have to be synonymous with junk mailing, or sending postcards to current residents and offering an unsolicited coupon. Below are the new approaches you can take to optimize your direct mailing:
- Mailing out compelling flyers with valuable offers
- Using data-driven referral codes
- Hitting smaller, more tuned-in audiences
Being selective with your mailing effort and offering better discounts, coupons and other enticements increases your chances of getting new leads. Think of direct mail as your first attempt to get someone on your website or contact you, rather than your final step in getting new clients.
4. Create Lead-Swapping Relationships
Sharing leads with related (not competing!) businesses is another lead generation strategy that’s still incredibly useful when modernized. It involves swapping leads with a company that offers complementary products to yours. This company attracts the same customers as yours; as such swapping leads becomes possible.
Digitalizing these swaps is the best way to make it efficient. Employ the use of CRM software for small businesses, to keep track of each leads and returns you’re getting from the companies that are providing you with leads. Taking a “big data” approach to beneficiary relationships proves better than having big piles of telephone numbers to cold-call.
5. Deals and Discounts
As a business owner, offering sales and promotions to urge new customers to make a purchase is common, but this is only effective if the potential customers know about your business and the great deal you’re offering. Several websites like Groupon make money online through deals and discounts, partnering with them as a lead generation strategy might help you that get your business deals in front of a larger audience.
These sites are all about reaching new customers and they’ve got a wide range of reach which you probably don’t have. They undergo the task of finding your potential customers by enhancing your brand awareness and exposure.
Margins on deals sites are pretty thin, so this isn’t a permanent solution. However, you certainly can generate new leads that would turn out to be loyal customers through this strategy.
6. Own a Modern Website
A good website is essential for optimal lead generation, especially for e-commerce businesses. Your website must be responsive, well laid out and smartly designed with high speed, efficiency, and ease of navigation.
A website is like your digital business card, it is the first point of contact with your potential customers online. It determines customers’ perception of your brand; this makes the need to have a modern website vital. Web designing and development is one of the best ways to earn money, and there are lots of brands earning money through this service on the internet. These brands can help you build your website in no time at an affordable rate.
7. Search Engine Optimization
Study shows that 90% of search users don’t go past the first page of the search result when looking for information. This makes it vital for you to get your website on the front page of the search results.
To get your website on the first page, you need a strong Search engine optimization campaign. SEO strategy is a vital lead generation strategy that puts your website in the best position on the search engine result page.
SEO might seem like a mystery to all, but some individuals and brands offer this service and earn from home. Since SEO service is an online service, they sit behind their device and earn money online by providing you with impeccable service.
Learning SEO best practices yourself is free but investing in experts provides you with an edge over your competitors. Investing in content marketing and SEO-savvy writers that are willing to make money online should be enough to provide you with a clear advantage.
8. Content-Based Lead Generation
Having content that contains the right keywords and provides relevant information helps increase your presence on search engines. The more high-quality content you produce, the more you’re rewarded by search engines.
Search engines give preference to websites that contains relevant information and the right keyword. Also, as local search keeps increasing, you’ll benefit from lead generation tactics that tie your content into your physical location, thereby helping you optimize local search.
9. Social Media Advertising
Investing in affordable paid social media marketing goes way beyond the reach of organic posts – that only reach a few of your followers. Most social media networks offer tools to enhance any lead generation strategy. Platforms like LinkedIn and Facebook, offer one-click email submission which allows users to submit their information at the click of a button and gives businesses a simple way to collect info on potential leads with minimal hassle. Some platforms also allow companies to purchase in-stream ads e.g. Instagram and twitter. These ads appear like a regular post from anyone you’re following, but with the bonus of pointing directly to a page or signup that you pick.
With the right size and target of the audience, social media advertising can bring optimum results at a low cost.
10. Email Marketing
Email marketing is similar to content and social media lead generation strategies. It can describe as a merge of content strategy with social lead capture techniques. It involves delivering streams of updates from your company to a target audience. They get the updates right in their inbox, targeting a captive audience can lead directly to the acquisition of highly valuable leads.
To ensure efficiency in Email marketing, it’s important to provide compelling reasons for people to sign up. Promises of exclusive sales, experiences, or knowledge are a great offer to get people to sign up. If you’re unsure about how to get started, email marketing platforms like MailChimp and Constant Contact are making money on the internet by offering tools to assist with this type of lead generation strategy.
11. White Papers
Being an expert in your niche allows you to make the most of your knowledge. You can offer free white paper downloads (featuring your expertise and small business) to generate leads. It allows potential leads to get specialized knowledge on-demand, in exchange for their contact info. Offering white paper downloads in exchange for contact information makes prospective leads comfortable exchanging their details for something of value.
EBooks provide in-depth knowledge about a specific niche, this makes is more informative than white papers. By offering quality free EBooks, you can show off your company’s subject-matter expertise and acquire contact information in exchange for downloads. They can also end up being shared among peers, which will expand your brand name and reputation far beyond your on-site marketing efforts. You can employ the services of those that make money online through e-book compilation.
13. Assessment or Report
The provision of room for assessment is another mechanism for email-for-knowledge exchange. You can set up a five-minute lead generation questionnaire about your products or services and then provide feedback, tips, or quotes based on respondents’ answers.
This gives you a fast assessment of your services and provides potential clients with a first impression of your company’s work. You get to learn quite a bit about the respondent in the process. These surveys don’t need complex design, a simple questionnaire can do the trick.
14. Hold Topic-Driven Seminars
This strategy is more expensive and time-consuming. However, it builds deep and meaningful relationships with potential customers. Holding a seminar on your niche helps you appeal directly to potential customers by giving them something far more valuable than a cold sales pitch. Apart from the knowledge these strategies bring, it also improves networking.
Organizing hangout or any get together where people – potential customers, vendors, can casually connect can help you spotlight your brand without any hard sales pitch.
Whether you earn your money from the internet in the comfort of your home, or you don’t have an office space to welcome tons of guests, you can always rent a venue suitable enough for hosting people. This can prove to be an effective lead generation strategy.
16. Create a Conference Add-On Event
In most conferences organized by big companies, there are lots of side gatherings that occur alongside man events. Having so many potential clients in a place at a time is a rare opportunity for small business owners, and utilizing it could prove effective in your quest for increased lead generation.
Creating a side event that sponge of a larger business-to-business conference requires advanced preparation, an interesting angle, and enough money to set up space at a nearby location. However, plan carefully as your potential audience will be strapped for time, evaluating other similar offers from rival companies, so be prepared for fewer turnouts than your roster might suggest.
17. Encourage Online Reviews
The first thing most consumers check before buying any products or requesting any services is reviews. According to a 2017 survey, 85% of the respondents express their trust in reviews as much as a personal recommendation, 68% were willing to write a review when asked to.
You can capitalize on these statistics by asking your clients to review your business on Google, Facebook, Yelp and other platforms. Urging your customers to talk about their experience with your business (without suggesting what you want them to say) is a great way to boost your online reputation and attract new clients. You can simply ask, or motivate them with incentives like discounts.
18. Add a Live Chat Feature
Adding a live chat feature to your website is another great lead generation strategy. In a recent study, 44% of respondents identified live chat as an important feature of an e-commerce page. 63% also said they were more likely to return to a site with a live chat function, and 62% were more likely to be a repeat customer.
This means live chat can be a great lead generation tactic to attract new customers, and encourage repeat business. Live chat functions make you directly accessible to your site visitors without having to pick up a phone or write an email. New customers benefit from being able to ask questions and receive a direct answer on the go; it helps close new sales faster. Having a “Chat Now!” button on your website can help enhance the use of this feature.
19. Host an Expert Chat
This involves choosing an expert to represent your company in teaching certain skills, answering questions that might interest your target audience amongst other things. You might be the expert, your employees, or a guest.
This can be done via video on Facebook, Live Instagram video, or even a live-tweeting session. Showing off your authority in your space can be an effective lead generation strategy. You can promote this by asking friends, family, and employees to share thereby increasing exposure.
20. Answer Questions
According to some time to answer questions related to your business field on top sites like Quora or HARO is also an effective leads generation method. It helps you expose your brand to more audiences that are alien to it in the tone you want. Platforms like Quora, help you gauge customers’ intent, unlike other social networks.
21. Employ Influencers
Influencer marketing is another great lead generation marketing strategy, it involves using well-known people of great influence in your industry to push your brand to the public.
They help you bring public attention to your brand and increase its exposure. Influencer marketing is one of the largest within digital advertising, 67% of respondents to a recent survey said it helped them reach more targeted audiences. Working with influencers can be as simple as sending products and services to industry thought leaders with large social media followings and some see it as a means of earning money online.
22. Add Calls to Action
Call to action or CTA helps you express what you need visitors to do on your website. After successfully getting a prospective customer to your website, you need to turn them into a lead by telling them what to do. The process of telling them what to do is called ‘Call to action’.
Ensure that your CTA copy is clear and catchy enough to get your customers’ attention and make them click. This helps you make it an effective leads generation strategy.
23. Create Testimonials
Testimonials go a long way in positively shaping your brand’s image for potential customers. Create testimonials and customer success stories that can serve as social proofs for prospective customers. Social proof is a prevailing thing; 62% of B2B decision-makers say that peer recommendations are a very strong purchasing trigger, and 89% of B2B marketers consider testimonials the best marketing tool at their disposal.
There are tons of ways to create testimonials which include getting clients to provide quotes about their positive experience with your business and then posting it on your website. You can also write full articles detailing clients’ experiences with your business like Fundera does with our customers.
These lead generation strategies can help you increase your brand awareness and get more customers. You should be able to know which one is most applicable to your business. One size doesn’t fit all, so if at first, you don’t succeed, try something else. The best lead generation strategies for startups won’t be the same as those for established businesses.