Lead Generation Strategies for a Small Business

A large company can purchase the database of a million people and do so from a credible source that would vet the authenticity of the data. Even if they choose not to procure such databases of emails or phone numbers and most even have addresses, they can always spend a few millions on advertising and would generate innumerable leads, which would be good enough for several months. Small businesses don’t have such a luxury. But a small business needs leads just as much as a large business. In fact, small businesses are in greater need for leads because they don’t have commercials being broadcast on prime-time televisions and larger than life billboards at the roadside.

Here are some simple lead generation strategies for a small business:

  • Local small businesses should have different approaches to capture data. One has to obtain the data, which is called data mining. Only then can one prepare a database and then churn it to crack sales. Let us explore some simple ways to generate leads. You can capture data from people who walk-in to your store. Just a phone number or email would be good enough. You can use online inquiries or calls to capture the required data. You can be at local events, circulate fliers or brochures and use newsletter subscription on your website and at the store or office to generate data. Remember, these are not leads but data. And you have to begin with a database to generate leads.
  • One of the most effective lead generation strategies for any small business is a referral program. Employees can be incentivized to refer, customers can be offered rewards to refer and people who aren’t your customers but can refer should be offered some perks so they feel motivated to walk that extra mile. We often think of talking about a product or service with our friends or in our social circles but we forget. Having a few perks will keep people motivated to talk about the small business.
  • Networking is the absolute key to exploring new avenues. Local small businesses find large networking events futile as there is little scope to grow the business into a massive scale. However, cross selling and networking with companies that have some shared interests would always benefit small businesses. A vendor that supplies essential items to businesses in a neighborhood can always tie up with another company or vendor that supplies other items. There can be an exchange of customers, leads or database so to speak.