Finding people with an interest in your product or service is essential to the success of your small business. Referred to as lead generation, it is crucial that you develop strategies and use tools to attract people to your business, who hopefully will like you enough to actually buy from you. Lead generation is the process of finding interested customers who you can convert into buyers.
There are a number of lead generation tools that you can use for your business. Some examples include:
- Advertising platforms, making sure that you are reaching the right audiences and that you have a strong call to action
- Landing page creation tools
- A/B testing tools to ensure that you get the best results from your landing pages, marketing emails, advertisement, etc.
- Email capture tools that you can use in your website, social media or even videos
- Social media, including social publishing such as Slideshare
- Platforms that allow you to showcase yourself as a thought leader
- Tools to help identify what websites or companies are potential customers
- Tools that can help provide contact information about leads
- Lead scoring tools to help you determine which leads to pursue best
The key is finding the right tools that can generate high quality leads for your business without breaking your bank. After all, it is through your chosen instrument and execution that success in lead generation program heavily lies on. Therefore, there is no room for error because every small hole in the wall can lead to bigger problems. A wrong choice of medium can result to failure and losses.
Here are some of the dangers that an ineffective lead generation tool will bring to a small business:
1. Low reach and response ratios.
It is a must for a lead generation program to be fast. This is so because slow progress means longer sales cycle, lower chances of converting opportunities and giving competitors the upper hand to be ahead of the race. A lame lead generation tool has a failing grade either to reach or response ratio, or worse, to both. It is a slouch in reaching sales prospects and/or will not make them respond right away. This is a major upset since it delays the qualification process, which, in turn, freezes sales activities.
2. Incorrect targeting of industry or market.
Another jeopardy is the inability of a medium to target the exact industry where your business wants to market. Though it may be good in easily reaching its prospects, it may be incapable of searching for the right industry. Other business entities are regarded as sales prospects but they may not fall on the industry a firm opts to do businesses with. Consequently, effort, time, and money are needlessly squandered away.
3. Failure to qualify sales prospects.
The most crucial point in any lead generation program is the qualification of the sales prospects. This is the stage where every sales lead is screened to know whether they are interested, sales ready, authorized and have the budget to buy a product and/or services. Ineptitude and ineffectiveness in qualifying potential customers will lead to lost opportunities. It is as if money slipped away when it is already on the hand.
4. Loss on forfeited opportunities.
Every qualified sales prospect is equivalent to one big opportunity. No one knows for sure what an opportunity can bring. Thus, forfeiting opportunities is disappointingly heart-rending. Opportunities only come once and rarely for the second time around. Letting it fly away is downright a big blow.
5. Generating Poor Sales Leads.
The worst thing that can happen to a company that utilizes an ineffective tool is generating poor sales leads. For obvious reasons, it will be too hard or close to zero possibility that an appointment will be set-up or a sale will be closed. Either way does not look like a good thing to ponder on.
Sales leads are like the air that breathes life to business organisations. This is more than an enough reason for every firm to be very careful in their selection of a lead generation tool. On the positive side, this can be avoided and at the same time, a surefire success in programs can be attained through outsourcing the services of a telemarketing firm. Outsourcing companies are well-armed with the right medium and the needed resources to ensure the campaigns success; purging the risks involved in generating qualified sales leads.
- Lead Generation: Where to Buy Your Sales Leads
- Outsourcing Your Lead Generation Needs
- How to Start a Profitable Tool Rental Business
- Tool Rental Business: What Tools and Equipment to Rent Out
- What is the Value of a Lead?