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It's a fact that, the only way to increase the number of customers you have is to increase the number of leads you receive and to convert more of those leads into customers. No. of Leads x Conversion Rate = No. of Customers
Your aim is to get more people purchasing from you, but in order to do that you need to generate more leads.
Before you embark on any form of lead generation campaign, remember that if you cannot convert the leads into customers you will be wasting your time and money. You need to always try and ‘market from the inside out’. Click on the member’s website for more details on converting customers.
People often get confused between leads and customers, so before we start I want to explain the difference.
- Leads are the total number of people you have been in contact with who could potentially purchase from you.
- Customers are the number of people that actually purchase from you.
The idea of any form of promotional activity is to attract new customers at a profit. You need to persuade and influence them to purchase from you instead of from your competitors. Remember, you need to see your business through their eyes.
There are a lot of ways to promote your business and attract new customers. The thing you have to do is pick the right ones for you and sometimes this can be a bit of trial and error.
Here are some great no cost/low cost ways of generating leads for your business:
- Publicity/Editorials – Press Releases
This is a way for you to promote your business without having to pay for it. To potential customers this form of promotion carries more weight – it is very credible. This is where you persuade the media – magazines, newspapers, radio, or television to talk about your business in a positive light.
- Advertising
This is a paid form of promoting your products/services to potential customers with the aim of them purchasing from you. Advertising can include magazines, newspapers, internet, direct mail etc.
Check out the section on How to write an Advertising or Promotional Piece in the members section beforehand.
- Promotions
This comes in all shapes and sizes including exhibitions, presentations, free samples etc
- Capture Devices - Free E-books and Special Offers
A capture device is something that draws potential customers to your business, whether by phone, mail, store or website. The idea is to give them something for FREE so that you can obtain their contact details so that you can promote to them.
- Run Competitions
People like free stuff so competitions are a great way of attracting people to your business. Make sure your competition prize is attractive otherwise people will not bother entering.
- Other Businesses/School Newsletters
- Attend Expos, Shows and Markets
- If you do Direct Mail promotions, include a mail-back insert or voucher.
- Offer a free catalogue/newsletter subscription, i.e. Pumpkin Patch ask everyone who purchases from them if they would like to receive their catalogue. Have a look at the newsletter subscription box on the mums in business website
- Get and give Testimonials
- Offer Warranties and Guarantees
- Referrals/Word of Month
- Retail promotions – VIP cards, Loyalty program
- Establish Strategic Alliances with other businesses
- Set up an Affiliate Program
- Networking
This is a way of promoting your business by using contacts you have made, usually from networking events.
Attend networking events and collect business cards
Hold seminars/information nights
- Direct Selling
This can involve face to face and telephone promoting where you have to explain your product to potential customers. Promoting through Party Plan is a great example of this.
Always remember to collect as many people’s details as you can for your database. This is a great way of promoting to them in the future. For more information on how to do this and what spam requirements to comply with, visit the members section.
A great way to help you get advice on creating more leads without spending a fortune would be to chat to other business mums on the mums in business - business discussion forum. Get your free access by going to click here where you can also discover proven, easy-to-apply strategy that women just like YOU are using every day to start & grow profitable businesses!
From Alison Basson - Mums in Business, for mums and women who are serious about business
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