Lead generation is a term often used within the context of marketing. It involves finding ways to generate inquiries and interest in the services or products that companies offer. Generating of leads tends to be a constant effort because companies need to maintain a steady inflow of new customers in order to keep the business financially successful. In fact, corporate spending on lead generation nearly doubled between 2005 and 2009, and it’s still growing. There are various approaches that can be used for lead generation and these approaches vary depending on the type of industry.
For instance, attending public events and handing out business cards or flyers is one approach to lead generation. At trade shows, lead generation also occurs when visitors to the company booth write their contact information onto a card, which allows the company sales team to give them a call later on. Other approaches to lead generation can include placing advertisements in newspapers or magazines. Or, it could include handing out informational pamphlets to prospective customers at public events.
Mailing lists are another way that lead generation can occur. In fact, there is a mailing list company for virtually any kind of business or industry that you can think of. The lists typically include names, home or business addresses, email addresses, and other information such as annual income and credit score of prospective clients. This information, if tracked, can help improve demographic targeting by indicating which demographics are more likely to follow up, and why.
Using the Internet
In highly competitive markets, some businesses become aggressive in their lead generation efforts. For instance people could resort to using guerrilla advertising for the purpose of reaching potential clients. Also, search engines provide lead generation options. Since the advent of the Internet, many times businesses will utilize their websites for lead generation purposes. Any business that has its own website is able to appear in a search engine listing; searchers can click on a link and then be taken to the company website.
Some of the search engines additionally offer pay-per-click lead generation options. When the searcher clicks the link to the company website, the search engine charges the company a fee. Pay-per-click advertising can become expensive, though. For that reason, companies proceed with caution until they gain a general sense of whether the pay-per-click advertising is resulting in a significant return on the investment.
Lead generation efforts also tend to involve social media and educational webinars. Via social media, companies strive to continually find new creative ways to whet prospective buyers’ appetites for their products and services. Or in some cases, prospective buyers are educated about a product and then the educative process gives way to the nurturing of leads and subsequent discussions about pricing, contracts, and levels of service.
Lead Generation Services
In addition to all of the above methods of lead generation, some businesses choose to work with lead generation services that specialize in online email marketing or telemarketing as a means of generating leads. Lead generation services come in all sizes. Some lead generation services are very expensive and involve multiyear contracts. Other lead generation services are very modest and might only require companies to pay for one month at a time.
Indeed, lead generation is an absolutely critical part of what businesses do. Without lead generation, businesses would not be able to bring in new clients and would not be able to make enough money to survive. As opportunities both offline and online expand, expect that businesses will keep finding new and more creative ways to generate leads and keep themselves profitable.\
This article was written together with Richard Craft, an MBA student who looks forward to helping you understand business processes. They write this on behalf of Lead MD, your number one choice when looking for effective lead generation marketing services. Check out their website at http://www.leadmd.com for more information on what they can do for you!