As an entrepreneur you often face the question – how can I generate leads for my business? Lead generation is an integral tool in ensuring your overall success as an entrepreneur in the online as well as offline spaces. It is important to understand the meaning of this term before going into the technicalities behind it. Lead generation is the process of generating a potential customer’s curiosity about your products or services. You can generate leads either yourself or by hiring an agency. The methods that are used to generate leads for your business are classified as traditional and modern. Traditional method refers to the tools used by businesses when the Internet had not gained mass popularity. This method is still used by them today but to a much lesser extent. Modern method or Internet Marketing refers to lead generation through the Internet.
Lead Generation through the Traditional Method
It involves making a general list of your target customers or circulating an e-newsletter to acquire new customers. This process is beneficial as it increases sales by reducing the expense incurred in making each sale. This eventually increases your business’ profit margins. This method was popular even when the Internet had not gained mass popularity. The main drawback of this technique is the long wait for the prospective customer to approach your business stall at a certain exhibition or event and filling out the business form.
Lead Generation through the Modern Method (Internet Marketing)
Internet Marketing requires the company or the agency appointed for this purpose to create a relevant website. Upon visiting the website the customer views information of those products or services that require lead generation. Internet Marketing helps a prospective customer to reach the relevant websites, get an option of completing an online request form to get quotes and information about the products or services offered by the company. This method is beneficial for both the buyer and the seller. This technique employs soft tactics to motivate your prospective customer or buyer to become your real customer. This process is useful for all types of business. Businesses that often utilize this technique are office suppliers, insurance companies, furniture dealers, and educational institutes. However, for organizations that are handling complex products, the process begins by identification of the decision maker.
Internet Marketing versus Traditional Marketing Method
Internet Marketing is effective by ensuring that your website is user-friendly in presentation, layout, and content. This will help in creating a good impression in your customer’s mind. This will also prevent your customer from moving away from the website without taking the time to fill-up the form. Also, your email exchanges should be crisp and precise in giving your customers the right information about your products or services. Once they have become your client, you must exercise due care to thank them thereby gaining their respect in the long-term. Internet Marketing is a professional and time-saving effort compared to the traditional method of cold-calling mostly used by telemarketers. The latter is a waste of time and resources on the part of the company as well as the customer as the customer has not given his prior consent.
Internet Marketing ensures customer’s involvement by allowing the customers a chance to approve and grant their consent. It is a useful tool in generating business leads. The only thing it cannot replace is the human element which is the most important aspect of customer service. Internet Marketing is bound to gain more popularity especially in service sectors.