How To Start & Grow Your Business

Generate New Business Leads With These 5 Tips

Meghan Belnap
Jan 9th, 2015
  • Estimated reading time: 3 min read
  • Hummy's
    Highlights

    1Work the room at networking events and trade shows. 2Send out a refreshingly personal piece of direct mail. 3Be proactive in getting referrals from happy clients.
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Lead Generation

Finance-colorful glass business pie graph Photo Credit: Digital Genetics Shutterstock

If you want to skyrocket business profits and success, it is important to consistently obtain new customers or sales leads. Nothing happens without leads; no sales, no revenue and no profit.

The problem with finding new business leads is that it can be expensive; this is especially true for small business owners that don’t know how to obtain sales leads at a reduced cost. Traditional advertising can take a huge chunk out of your marketing budget — a real hit or miss when it comes to producing leads.

So, follow these creative lead generation strategies to increase your bottom line:

Join Networking Groups

Networking functions for trade associations are often avoided by small business owners; mainly because they feel they are a boring hassle that aren’t worth the expense. However, some of these events can generate great leads for your business.

Consider this: the people who attend these events are connections to potential consumers who may need products or services like yours. At your next networking event, walk around and be proactive; you never know who you’re going to meet!

Forge Alliances

Along the same lines of networking, you can build an alliance with a local business for mutual benefit. Building strategic alliances with other small businesses is a great way to promote your products and services. Meanwhile cross-promotion can turn into responsive leads and generate sales for both you and your new partner. Seek out another business that treats its customer well (and is relevant to your niche) then build a relationship with them. With their permission, you can co-market to their customer base and yours.

Send Direct Mail

A well thought out piece of direct mail gives potential customers all the information they need in one place and can bring in sales. If you can give prospects information, then you can encourage them to take steps towards sales. A well-designed direct mail campaign should be eye-catching, convincing and offering something of value. If you don’t want to go at it alone there are companies dedicated to helping businesses generate sales leads via optimized direct mail campaigns.

Attend Trade Shows

If you choose the right trade shows, you can promote your business to eager prospects. It’s easy to engage and convert prospects when they are already familiar with your niche; they’re at the trade show because they are interested in products like yours. It’s your responsibility to convince them that your business is perfect for their needs and that your product are the best around.

Gather Referrals

If your business produces great products and services, then word of mouth will get around. People who hear good things about businesses from their friends and family are more likely to give them a try. You can see how word of mouth can gain even more traction as sites like Yelp.com grow with popularity and are often visited to obtain online referrals and feedback.

It’s important to be proactive in your search for quality leads that you can generate in the most cost effective manner. When you get good leads that are inexpensive, you are a step ahead of your competition. In the business world, that extra step can be the difference between success and failure.

This article was written by Meghan Belnap and published in YFS Magazine.

Meghan Belnap is a freelance writer and is writing on behalf of DentalMarketing.net.

YFS Magazine is the definitive digital magazine for startups, small business news and entrepreneurial culture.