The lifeblood of every small business is new leads and buyers. You need to generate new qualified leads every single day or you will go out of business. And as a small business on a limited budget you must generate those leads profitably or you will go broke trying to grow your business. Here are 7 tips you can put into action immediately to begin generating more profitable leads online.
1. Know Your Market – Know exactly what your market is thinking. Do you know their pain points? Do you know what they want? Know their deepest desire by getting into the psychology of your market. Know them inside out; know what they are all about. It’s not enough to know what they need but to know what they desperately want. Where do they spend their time online? What do they think about? Know their demographics such as age, income, whether they are mostly male or female or 50/50. And most importantly, know what their problems are. As a small business, you have an advantage. You are most likely working or communicating directly with your customers and have relationships with them. Your position on the front lines allows you to know your customers better than anyone else.
2. Speak Their Language – I always say “good marketing enters the conversation going on in the mind of the prospect.” You need to talk what is important to your market. Your word choice should resonate with them. I have learned that people aren’t interested in a product’s features, they’re not interested in buying a product — they are interested in getting a result. They are interested in solving a problem. Don’t say “how to mail postcards” say “how to utilize postcards to generate more leads for your business.” As small businesses, we tend to have close relationships with our customers and we understand how they think. The next time you are planning your marketing message, take this into consideration and think about how to word your promotions so that they speak directly to the results your customers want.
3. Ask for a Small Action First – Don’t go for the sale on the first conversation with a prospect. Big mistake. Try to get a prospect to take a small action like giving you their email address in exchange for a free video or report. Then over time they can get to know you better and how you can help them solve the problems.
4. Give First Before You Expect to Get – Simply stated, if you want to build trust and a relationship with a prospect and, if you want to be the ultimate authority, you must give, give, give. Share with them and talk to them about how to fix their problems. Give content and give quality information to build trust with every single piece of information you give to them.
5. Know Your Numbers – You cannot just run out and spend money on advertising online or buying clicks. You can operate profitably on a much smaller advertising budget if you plan well the first time. First, determine what is your ultimate marketing goal? What is the result you are trying to achieve? Are you trying to get a lead and if so how many leads do you need to generate in order to convert to a buyer? What is your average conversion rate from lead to buyer? That is a number you must know. Another number you should know is what the average buyer is worth to you. What are they worth in the initial transaction, in their first month, and over their lifetime? You must know their value in order to determine how much to invest in a lead in order to get a conversion to a profitable customer. Your goal is not just to generate a lead but to generate a profitable lead online. Know those numbers no matter how small your operation is. This will help you know if you’re beating your numbers as you grow your business.
6. Test, test, test – Test every single aspect and component of your marketing funnel to be sure you are getting optimal results. What sort of things do you need to test? Is one offer or ad working better than another? If only your headlines change on your webpage you will soon know which headline performs best. Test and track every component of your webpage as well from colors, buttons to traffic sources on a consistent basis and see which perform best. This is a simple and free way to improve your results from marketing.
7. Maximize Value for Every Lead and Every Buyer – Follow up, follow up, follow up. Keep in touch with people over time, not just the first day or the first month. Keep in touch until they buy or die off your list. Constantly keep something new in front of them at all times whether it’s a weekly webinar or an occasional free consultation offer. And most importantly add a call to action. Add value to their lives with quality information. You are pulling every single possible dollar and every ounce of profit out of every single lead that you possibly can.
These 7 tips will allow small businesses the opportunity to start generating more profitable leads online for less marketing budget. But you’ve got to put them into action today in order to see results tomorrow. Get started!