The Mini-Guide To Lead Generation For Your Small Business
Tips to keep those leads and sales coming in

By Jamieson Lee Hill, 26th February, 2024
In a highly competitive global market, consistent and effective lead generation is key for your small business. In our first article of 2024, we present an in-depth mini-guide to help you manage your leads successfully. Let's dive in!
The Significance Of Lead Generation For Your Small Business
Generating leads for businesses involves more than just a numbers game. It's about identifying the right audience, individuals who need what you offer and are likely to become paying customers. A valuable insight from Lead Genera highlights this:
"Without lead generation, your company will have a hard time attracting new customers and sales opportunities."
Effective lead generation allows you to identify potential customers, understand their needs, and tailor your offerings accordingly. This process guides potential customers through several stages – awareness, interest, consideration, intent, evaluation, and finally purchase. Each stage is a crucial step in converting a lead into a customer.
Lead Generation Strategies For Businesses
There are numerous strategies for generating leads for your business, including networking events, online marketing, referrals, and cold outreach. It is important to focus on a few and do those well, rather than spreading yourself too thinly. Otherwise, you can end up with what is known as ‘half-finished bridges’. Watch this video with DigitalMarketer Founder Ryan Deiss explaining this concept.
Every strategy has its own strengths for generating leads for your business and should be chosen based on your target audience and business goals. The emphasis is on quality over quantity with lead generation.
The Key To Generating Leads For Your Business
Once you have generated leads, the next step is to manage those leads effectively. The process involves tracking each lead's progress, from initial contact to conversion to get a clear picture of the metrics. This will also show you how well your investment into lead generation has paid off.
Salesforce states that a good lead management system allows you to keep track of all the metrics so that no leads fall through the cracks. Salesforce also categorises leads into 5 main types:
- New leads are potential customers you've gathered data on, like those who've visited your website or store.
- Working leads are those you're actively engaging with, such as email subscribers or social media followers.
- Nurturing leads aren't ready to buy but maybe later; maintain contact via newsletters or product updates.
- Unqualified leads show no interest in your offerings, making them dead leads.
- Qualified leads, or sales leads, want to do business.
Generating Leads For Your Business With Technology
Technology and automation are at the heart of generating leads for your professional services business. Customer relationship management (CRM) systems automate many aspects of the lead management process, which frees up your time to focus on other important tasks.
Also, analytics tools can provide valuable insights into which lead-generation strategies are working and which ones need tweaking. The highly respected company Entrepreneur.com is a strong advocate for technology to drive lead generation. They also describe how they aligned their marketing and lead gen to achieve stunning results,
“Thus, a decade ago, we decided to align our lead generation and marketing tactics. And we've grown phenomenally ever since, like the 90 percent of other businesses that have made similar decisions, according to CSO Insights.”
Source:
Entrepreneur.com, Nov 2023
The Human Aspect Of Generating Leads For Your Business
While technology is all important, you should also remember the human element when generating leads for your business. Building relationships with potential clients is key to converting leads into customers and creating long-lasting relationships. This means taking the time to understand their needs, providing a personalised service, and following up regularly. This is all part and parcel of what we call ‘The Customer Value Journey’.
“What is the customer value journey? The Customer Value Journey is a blueprint for creating a predictable flow of customers. It defines the step-by-step process of converting total strangers to high-value customers and brand promoters.”
Source:
Risdall.com, 2024
The Final Step In Generating Leads For Your Business
The ultimate aim of generating leads for your business is to convert them into paying customers. The Customer Value Journey helps you to achieve this. US Marketing giant DigitalMarketer explains the importance of the CVJ,
“The Customer Value Journey is the strategic foundation of everything we do here at DigitalMarketer. It’s the master template upon which every other digital marketing discipline and tactic is built.”
Source: Digitalmarketer.com, 2023
Nurturing leads through the sales funnel, from initial interest to making a purchase is all part of the CVJ. You must have a clear conversion strategy to turn your leads into paying customers. Adopt an agile marketing approach where you continuously evaluate and adjust your strategy based on metrics and results.
Reflections
Managing and generating leads as a small business involves much more than just lead generation. It is part of a strategic and holistic approach that includes understanding your target audience, leveraging the power of technology, building long-lasting relationships with prospects, and implementing a clear conversion strategy to have consistent sales throughout the year.
If you are interested in running your own Online Business, speak to Gold Viking MD Jamieson today. Gold Viking are ambassadors for Your Business Group who have exciting ‘off-the-shelf’ businesses ready for you to run! Fill out the form now.
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