Sales departments around the world are constantly looking for new ways to generate leads. In today’s economic climate, consumers are budget-conscious and want to ensure that they’re receiving the most value for their dollars.
This frugal attitude has forced representatives to adapt their strategies and find means of reaching out to consumers. Many businesses have developed unique solutions for finding strong prospects and bolstering sales revenue. Below is a look at three different tactics that can improve lead generation, but remember that you must carefully weigh your options because what worked for one organization might not be the best fit for yours.
Expanding into new markets
One solution is one of the most traditional ideas – expanding into an entirely new market. By moving into a new area, you’ll find consumers who have never had access to your goods or services, so there may be a significant demand. That said, you can’t simply open a satellite office because you must keep an eye on the bottom line.
The New York Times explains that you must ensure that your cost per sale will increase at a higher rate than your overhead expenses. The favorable ratio ensures that your profits will at least remain the same even though you’ve added new expenses. Consider management training courses to learn how to evaluate your fiscal situation before taking this route.
Sometimes the best strategy is hosting seminars to teach consumers about your business and what makes you stand out in your industry. The Small Business Advocate notes that it’s more efficient to bring multiple people together at once than it is to hold numerous meetings.
Additionally, you can go digital by hosting webinars instead of in-person conferences. The online option is very simple and can help you break into new markets because you aren’t confronted with logistical hurdles like traveling to remote locations.
Hosting webinars and providing consistent content online can not only help to enhance the bottom line, but help develop customer loyalty. If people know you provide good information and a reliable product, they’ll keep coming back to you and view you as a leader in your industry. You can also get ahead of your competition by providing content that answers the questions you know your customers regularly ask.
Give it away
This is another great example of how producing content can generate business. In some cases, traditional ideas fail to generate leads, especially online. Cyber security is a priority for many consumers, so they may hesitate to give you their contact information. However, Mike Volpe, vice president of marketing for marketing software provider HubSpot, believes that you can attract new customers by giving them a free offer. This could be a basic version of your product, a small gift, an e-book, an inforgraphic, a video, a whitepaper and other options.
“Many web visitors don’t want to engage in a personal conversation, but they are willing to give you their contact information in exchange for some valuable content,” Volpe told the National Federation of Independent Business.
Scott Murray is the Social Learning Evangelist for TrainUp.com, the web’s largest career marketplace. He is also a contributor to TrainUp.com’s Training Insights Blog, a series of blogs dedicated to career and professional development.