Lead Generation

Lead generation is crucial for small businesses that want to grow their revenue and compensation. This piece of a small business owner’s puzzle can be more challenging for some entrepreneurs. Some think that lead generation (or marketing in general) is an expense and don’t budget money or time for it. Without it, owners focus on retaining the customers they have. However, customers move or pass away and without a pipeline of leads or prospective customers, small businesses that operate under this premise will decrease revenue over time. It is true that it costs more to acquire a new customer, than to keep the ones you have (retention) – but without consistent leads and customer conversions, there will not be long-term growth.

Lead generation tactics depend on the type of business, industry, customer type, and more, but some tactics can be done with minimal cost, but do require time investments. According to Salesforce, “lead generation is the process of gaining the interest of potential customers in order to increase future sales. It is a crucial part of the sales process of many companies.” Lead generation puts leads in the pipeline, so that they can be converted to customers now or at a later date. Selling has to do with timing, so the prospect may not be ready today, but with consistent follow-up – may convert to a customer later. Pin pointing timing is a big challenge, so the key to lead generation is generating leads on a consistent basis to fill the short and long-term pipeline. How are you filling your small business lead pipeline? Here are a few things to think about…

Online Marketing – Website and Social Media:

• • 90% of searchers haven’t made their mind up about a brand before starting their search.
• • Do you have a website? Who would interact with the website? Customers and Vendors?
• • Entered website in directories? Have blog capabilities on the website? Do you ask for reviews?
• • Is your business utilizing free advertising such as Facebook, Instagram, Twitter, Google My Business, and LinkedIn? Is your profile completely filled out? Are pics and general info correct?
• • Does your target market actively use social media? What content are you posting? How often? What are your key words?
• • Do you have a social media, website, and general marketing calendar? Who owns? When updated?

Networking/Community – Networking Groups and Volunteering plus Sponsorships:

• • Are you involved networking groups?
• • Are your staff?
• • Use LinkedIn for networking?
• • Do you sponsor community events? What events? How often?
• • Do you volunteer in your community? When and what for?
• • Do you engage with social media to increase awareness of community involvement?
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• Referrals – Customers and Referral Sources:

• • Are you asking for referrals? Word of Mouth - According to Nielsen, 92% of people trust recommendations from friends and family over any other type of advertising.
• • Does your business have a referral program?
• • Are customers or employees rewarded or both?
• • Is there a process in place to ensure employees ask for referrals?
• • How are referrals tracked and measured? When?
• • Are there other businesses that may have customers that need your business’ services? Do you build relationships with those businesses and representatives on a scheduled, consistent basis?

If you need help with any of the questions listed or a plan for your small business, please reach out to a Small Business Consultant for consulting and coaching solutions. We are located in NWA (Northwest Arkansas), but serve customers in Arkansas and surrounding states. Call Comprehensive Consulting Solutions for Small Businesses today at 479-935-2488!