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Lead Generation For Small Businesses In Slow Times

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					Lead Generation For Small Businesses In Slow Times
Lead generation is a key activity for virtually every business, no matter the size. And in times such as
these, when the economy is on a downturn, it is even more important that companies apply time and
attention to new business lead generation.
Here are some tips which small businesses could find useful in driving those revenues up:
1. Get creative and effective in generating more from your existing customer base. I know this has
nothing to do with new business lead generation, but it is far easier to accomplish and quicker to earn
payback. Current customers will be far more inclined to buy from you than brand new, un-developed
contacts. You could ring up customers who've stopped doing business with you.
Based on their past buying profile, you could create a special offer package for them. You could invite
them in for a special event. You don't have one planned? Plan one. Reward them with a bundle of
specially priced items, perhaps available only to selected customers to celebrate your xyz
anniversary. (Replace the xyz with something appropriate like, years in business, since opening of
new store, birth of first child, launch of major product etc.)
Think about how you can approach those old friends, and you could earn instant additional income for
your business.
2. Make it a habit to ask your latest customer if they know of anyone else who would benefit from the
product or service that you offer. Most business or geographic markets are small worlds' unto
themselves. Now some of your customers won't want to give you any names, particularly if your
product or service has provided them with a competitive advantage. But you will be surprised how
many customers will be happy to furnish you with names of their contacts who could be in the market
for what you offer. While we're talking about this technique, don't forget to apply it to point 1 too.
3. Review you. What do I mean by that? Well, you could start by refining your positioning. Take a
close look at your company, your product, your competition and your customers. Identify and define
your ideal potential customer. What problems are they experiencing which you have the means to
help them solve? Why should they go for your solution instead of your competitors'. Now,
communicate this competitive value message to your prospects.
4. Manufacture yourself some media coverage. How do you do this? It's all in the story. Create a
Press Release and have a story with human interest at the centre. At least some of the media will be
interested in covering it, giving you free publicity along the way leading, we hope, to new business.
So where's the human interest if you sell product x, or service y?
Well, do you have anyone in your business who is well known and successful in another field, like
sport or the arts? Has anyone in your business won any awards? Has your business, product or
service won any awards? Have you received some great testimonials from existing customers
following the special event you organised for them during point 1. If they haven't given you their
testimonial, it's probably because you forgot to ask for them. Right?
Survival could soon be the name of the game for many small businesses. Lead generation is
essential, and can be tackled in many ways. In today's economic climate, it's down to you to be as
creative as you can.

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Description: interested in covering it, giving you free publicity along the way leading, we hope, to new business.