As a small business owner, you might feel like terms like lead generation and online presence building, customer acquisition and digital marketing might be out of your budget, and not something you need. In this growing digital age, you couldn’t be further from the truth (and losing out on revenue like you wouldn’t believe).
Before we look at what real lead generation is, and how it can apply to your brand, let me ask you something…
What is your ROI for your brand?
If you don’t know what ROI is, that’s ok.
Some business owners, even while in business for decades, simply don’t know their return on investment numbers. Yours, no matter your industry, nor location, should be at 300% or beyond.
Today…is that the case?
Let’s break down ROI, how your brand can increase revenue and how you might be getting stolen from.
But first, think about this:
Your working knowledge of marketing, advertising and targeted lead generation isn’t a requirement; your competition doesn’t have that knowledge and is outselling you.
Sounds bad, but there is a fix.
We’ll look at that in a minute.
What is your current ROI?
ROI stands for return on investment. This is a percentage of spending based on what you get back. It is calculated by subtracting marketing spend from profit and then dividing by that marketing spend.
Here is a visual return on investment calculator…
So what are you spending right now in marketing? What are spending in traffic generation and lead generation? And how much are you getting back?
The goal of this article (and the REAL lead generation definition)
I want to enlighten you, the business owner, about the true power and potential of lead generation, no matter the industry nor the service provided. Business owners can find contentment in seeing positive profits in their business. Usually, adding in the idea of being able to, in a profitable, cost-effective and scalable manner, no matter how incredible the results, raises concerns and red flags.
However, the basic question I should ask you, is this following query. If you could make an additional $1,000 a month by spending only $100, would you? If we could that make this process scalable, and you start investing $1,000, $5,000 or $10,000 to see a 400% to 1000% return, would you?
Maybe you aren’t looking for reasons why lead generation really can score massive wins for your business? Maybe you are simply here for free info?
Ok! Totally fine; however, a disclaimer.
Believe it or not, these are the actions EVERY and ANY online marketing and lead generation expert will perform for you. In fact, this is the same thing that can be done for any DIY marketing business owners. What separates the processes listed from great results is the experience of using those methods, and proper lead generation funnels, to keep finding new leads to add to your revenue stream – something only an expert will be committed in doing.
- Use paid advertising (both PPC & PPM) like AdWords and FacebookAds for targeted marketing
- Use organic search traffic and link building for brand visibility
- Create customer retention funnels and initial optins
- Focus on local lead generation, local marketing platforms and local SEO for finding conversions
So, now you know. However, you might not still be sold on lead generation, and why it can benefit you. Below you will find 4 reasons why small business online lead generation really does work.
This isn’t snake oil sales, either. Finding leads that convert will turn your business from one that treads water and ‘exists’, into a business that thrives and grows.
1 – Your expenses can scale so lead generation is affordable
Fixed costs in your budget are both a blessing, and a problem. While you can create concrete budgets from now until the end of time (minus inflation, you rascal!), you can only cut those costs by cutting spending elsewhere.
Lead generation, however, is not like this. Lead generation leads to revenue generation. And, so, when done right, lead generation is relative to how much you spend on the leads; but only if it’s done right.
Think about it this way, if I see a 300% ROI, and I’m spending $1000 per month on marketing, I’m seeing revenue of $4000 per month from this one thing in the end. When we scale up spending, we can scale up spending, and scale up revenue for your brand.
Does it always work?
The simple answer:
Not ‘always’.
When you hire someone who is more focused on poor-quality traffic, you won’t see the amount of leads you could have acquired. When you pay for someone who is focused more on stats like Facebook likes, YouTube views and clicks from those entities, you will see more spending and less profit.
The wrong metrics, even while appealing, can yield the worst results. Your expenses will go up, your time to meet your goals start to double and triple, and you have a bloated marketing budget without success.
Does lead generation marketing work when done correctly by the right people?
ABSOLUTELY!!!
When you target your brand’s message, focus on pre-qualified potential clients and customers and create pinpoint methods of lead generation, guess what you get? A higher ROI, a scalable marketing budget spend and plenty of business from your efforts.
2 – Online lead generation is better ROI than offline
Listen up:
In 2016, umbrella marketing is NOT a great thing.
It is a money-sink, pure and simple. While it can help with brand awareness, and making your brand much more visible, it will also not target your ideal customers.
Plus, it can foster a bad taste for the words “marketing” and “lead generation” in yourself. You create a poor stigma with those marketing efforts.
Let’s face it, small business owners get burned all the time from bad execution on good principles.
You might have been, and are really stressed even reading these words (and I’m not even selling you right now).
And here is a big-time tip:
Not all marketing nor advertising is the same.
This is why, in the past, you have been tempted by magazine advertising departments, advertising and marketing techs from local newspapers, as well as on radio, TV and even printers for creating flyers, postcards, etc. The different mediums of advertising and sales, selling to you, but in much, MUCH different ways.
I’m not saying that these previous versions of advertising and marketing platforms don’t work.
What I am saying is that now, with the decline of public radio, physical newspapers, physical magazines and even public cable, unless you are advertising and marketing to a very, very niche and specific audience, these advertising costs aren’t worth the effort; well, not completely (but that is a MUCH different conversation).
Instead, with the right digital marketing campaigns, content and copy, focused lead generation and targeted marketing groups, you can spend less, target more focused leads and get your phone ringing more.
3 – You can NEVER have too many customers from lead generation marketing
Let’s face it…
In business, having TOO many phone calls ‘might’ become annoying.
It might become maddening.
It might force you to hire someone just to answer your phone.
However, in the end, you also have constant and ongoing customers. That phone keeps ringing with constantly converting new leads that will bring your revenue up for your business.
Remember this one:
More focused lead generation, means more phone calls and that means more leads.
I point this out because you are looking at the basics of a lead generation funnel.
Below is about the most simple lead generation marketing plan.
- Find customers in your industry and/or region that are in need
- Market your brand and brand message to find them in an affordable way
- Once the call is made, convert to a sale or an appointment
- Finally, convert the potential customer to a sale
By keeping your method the same, (find, market, call, convert, sell), you can keep growing your revenue. And, because this is a business process, you can have unlimited clients and any time, all at different points in the lead generation funnel, but all converting in the end.
Getting back to the topic, what if there was this process, lead generation, that could grab those potential customers over time, and then convert them down the funnel for you into revenue streams?
Too many customers means hiring more employees to fill those orders.
It might even mean hiring employees to cover your work so that you can enjoy time off. Added to this, and something that you might want to consider, is raising prices, creating more services or products as well as infrastructure upgrades for your business.
4 – You don’t need to know a thing about digital marketing and advertising, EXCEPT…
Marketing, at it’s core, is the action of matching need to the solution in a valuable way.
Simple, yes?
In a way, we could even say that marketing is about the value of the marketing…not the cost, not the methods, but the value. And so, by taking online marketing methods that are effective, by using scaled plans of attack to find and convert users in a profitable way, you are correctly performing lead generation.
In fact, a simple way of looking at small business lead generation, as well as any size business lead generation, you can simply say…
If you can find real leads that convert, the cost will never matter.
This means that, when you have a scalable method of cost-effective lead generation, you can keep using more money on lead generation and getting more customers and clients as you escalate your spends. These processes can also be used on more platforms, including specific website advertising, non-Adwords advertising platforms, and more.
And, really, we are talking about lead generation’s value.
That alone can be a whole other conversation.
Value is the only thing that is truly going to matter when it comes to business marketing. Internet marketing can really focus your target audience, and personas can remove more costs from the discussion and the cost equation.
Think about the value in business marketing in this way:
If you were to have the best hamburger, or the best ice cream, or the best beer, or the best vacation ever, one that you, nor anyone, could ever do better than…how much would it cost?
What does ‘once in a lifetime’ cost?
This might seem stupid to think about. However, what you find a value-driven purchase, when thinking about it in terms of “the best”, creates a disconnect from cost. And, just like these examples above, if the right marketing is being applied, on the right platform, with the right methods, the cost goes out the window because you are getting so much back.
What I hope you learned about small business lead generation marketing examples
The biggest thing I hope you learned with lead generation marketing for your business is that cost shouldn’t be your biggest decision maker for what you start and who you choose to hire for the marketing help. It all boils down to value.
Can that person grab you leads?
Can they scale the process to meet your goals over time?
Can they do it in a cost-effective way?
And, is your ROI legitimately going up, up, UP?
The next thing I hope you learned is that digital marketing is a group of actions, that can help in generation traffic, leads and revenue for your business. Once again, the idea is finding someone who will do right by your brand; otherwise, you are throwing money away.
The final thing I want you to walk away with from this article is that your brand is worth the initial and continued expense of hiring a lead generation and internet marketing professional.
Not feeling like you can afford lead generation and internet marketing because you don’t have enough revenue to purchase it, can stagnate your brand. Spending the money on some cost-effective methods of lead generation means more clients. This means more growth. And, over time, your brand is always new with revenue and clients.
Are you looking for some help with your online business internet marketing and lead generation? Wondering if the cost is worth the return? Or, maybe you have seen the light and are ready to make a value-based purchase that will help your business growth for years to come?
Contact me, today, at email@jamesblews.com. We will discuss your brand, your industry, competition and what your marketing plans are. This business consultation will also cover what you’ve read in this article, and will include some simple steps that you can do if you are a DIY business owner.
