There’s an old adage where i’m from that says, “no one knows the magnitude of the itch like the one feeling the itch”. Likewise, the exact method to employ by businesses in leads generation are vast, and knowing the right method depends on different factors affecting the specific business concerned.
Strategies employed by a company such as Coca Cola that’s an established brand and market leader might not be suitable for a start up. The former will likely be focused on maintaining brand positioning, while the latter still needs to create awareness.
Different companies, different goals, different strategies.
Whatever your disposition, you will need to first:
1. Determine your goal or objective
Having clear cut goals makes it a lot easier in determining a strategy that works. You are unlikely to hit a target that you can’t see. Take some time to paint the picture of the goal you want using the SMART (Specific, Measurable, Achievable, Realistic, Time bound) model.
2. Have a Customer Avatar
Everyone knows tampons are for ladies. However, you will be crazy to market it to preteens, or ladies over the age of 50.
Determining your ideal customer avatar or buyer persona is a key step. Most people have an idea of who they expect will buy their products. However, that is far from enough. You need to conduct some level of research to find out deep insights such as the gender, age group, pay grade, location, etc.
3. Set your Timing
Once your timing is fixed, this will help determine if you need an aggressive campaign, or something that you can ramp up over time. If you have time to spare, free methods such as blogging, SEO ranking, attending networking events, or asking for referrals might be the way to go.
On the other hand, if you are hard pressed for time, running a paid digital campaign does it. Done right, this will get you the most exposure to the right audience faster. Some go all out to buy leads (already made email or phone number lists), not good. To see why it’s a bad idea, check out our post “should you be buying leads?“.
This goes closely with having a proper buyer persona. The persona is the guide with which the targeting works.
Sticking to our example of the tampons, statistics tell us the main user group of tampons, based on age, are women between the ages of 20-29. If done right, the buyer persona will reflect this, and map out your target audience. To get the most for your business, that’s where you should focus your advertising.
Fortunately most digital platforms have a low minimum cost to start running adverts. Therefore, if you are a small start up with a very lean budget, you can start gradually. As an example, you can place adverts on Facebook for as low as $5 daily.
While there’s a low entry cost for most platforms, you tend to get much better results when you have a robust budget.
6. Choice of platforms
The type of product or service being offered, combined with your intended target should determine your choice platform.
If you are offering a service aimed at the blue-collared professional, LinkedIn would be key. If your primary clients are youths, then Twitter & Instagram should be your buddies. Then of course the massive platforms like Facebook and Google can get you almost anyone with the proper targeting.
Ultimately, the type of business, your size, target audience, and your planned growth pace are key determinants in picking the right method for your leads generation. And whatever strategy you finally employ, be sure to evaluate it continually for optimum results.