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Sourcing New Leads

A lead can be defined as an individual who showcases interest in a company’s products or services. Getting quality leads is of utmost importance for businesses as through this approach, customers would be more inclined to purchase. One of the reasons why businesses fail may be tied to inconsistent lead generation. We discuss with David Pace, Business Development Consultant at MYC, the different ways of sourcing leads.

Direct contact

One way to convert a stranger into a lead is through direct contact. If a business offers a product or service of high value, or which can be billed on a retainer, direct engagement with potential customers may be a good strategy. If however, the strategy of the business revolves around low value and high volume, direct contact is less likely to be productive. 

Leads on LinkedIn

Being the professional community that it is, LinkedIn is the place to make new connections. For B2B targeting, LinkedIn is an effective tool which allows professionals to engage with each other and explore collaboration. Apart from direct messaging on LinkedIn, there is also the opportunity to advertise and sponsor content which could in turn yield to more leads. It is important to investigate whether your product or service may be relevant to the professional that you are messaging. Not doing so might lead such efforts to be interpreted as spam, hurting business credibility.

Advertising and retargeting

If a particularly enticing value proposition is being communicated, a business can expect leads following digital media advertising. Certain advertising channels allow businesses to retarget their promotional material to people that have engaged. This serves advertising to potential customers that may have already been interested, increasing the chances of generating more leads. This retargeting strategy helps when the product is one where visitors do not commit instantly to purchasing. Although it can take some time to perfect, digital advertising may be an effective lead generation tool at the disposal of businesses.

Referrals

Referrals remain an effective tool when it comes to lead generation. Reaching out to existing clients to spread positive word of mouth with their contacts can lead to more prospects. If the quality of the offering is of a certain high level, existing customers may be happy to spread positive word of mouth for free. For customers to refer your business offering, they might need to be incentivised with a discount on future sales for example. Referrals help businesses because they are profitable and a lot of the work is done by the client.

Networking

Networking is an important aspect of business development and lead generation. During networking events, people identify new contacts that may offer value to their business. Such activities would then potentially allow communication to thrive where business relationships are developed. Prior research is necessary, as businesses will determine where they should be present and which events or conferences will be most fruitful.

Email marketing mailshots

If you have developed a list of potential clients, yet never did anything about it, now might be the right time to start. Sending targeted mailshots highlighting what can be delivered to customers and perhaps a potential offer can spur further discussion and engagement. Email marketing tools typically come with engagement statistics that can allow businesses to understand what content can drive more leads.

Sourcing new leads may not be straightforward, for several reasons. If you wish to learn more about developing a solid lead generation strategy for your business, get in touch with David Pace and the team by sending an email on [email protected]_administrator

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