How to Generate Leads With a Limited Marketing Budget

In our technology-driven world, the good news for marketers is that lead generation does not have to take a huge investment. Traditional media still have a place, but the Internet and social media make it more cost-effective than ever to raise awareness, generate leads and ultimately create sales.
The process of lead generation is the same as it ever was, but the tools to reach those prospects have changed. At the outset, regardless of the media being used, it is critical that marketers thoroughly understand their target audience, not only to identify the best communication channels, but also to help develop compelling messages designed to achieve measurable results. The more time and effort spent here, the better your results will be in the long run. Importantly, big is not always better — a list of 10,000 prospects that you don’t know much about is likely to be far less valuable than a list of a few highly-qualified prospects.
Some specific tips:
  • Leverage word-of-mouth and referrals — people are influenced first by their own experiences and next by recommendations they hear from others.
  • Consider the appropriate use of social media. Facebook is not likely to prove very effective for a cardiac surgeon, but it might be very effective for a beauty salon. Conversely, LinkedIn is a great tool for consultants in a variety of fields — not so great for restauranteurs.
  • Get your name out through PR-related activities and media. This can be done through your own blog, by posting on others’ blogs or on generating media coverage through interviews based on connections with journalists who reach your target audience.
  • Be creative when thinking about ways to effectively connect with your target audiences–the more you know about them, the better you will be able to do this!

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