Lead Generation Solutions During Times of Economic Hardships

 

Whatever space you operate in, it changed in 2020. Roofers, personal injury lawyers, marketing agencies, trade schools: Nothing about the way any of these businesses operated was the same as it was in 2019. That includes how they generated leads. This article talks about some of the most inexpensive lead generation solutions during economic hardships.

And as we enter 2021 many of those changes will remain, at least for a while. If they haven’t already, it’s important that small- and medium-sized businesses identify affordable lead generation solutions that are reliable in tough times. 

Untargeted cold calling and large campaigns that cast a wide net bring in plenty of interest, but they’re inefficient ways to spend marketing dollars amid an economic downturn. In order to maintain a comfortable profit margin in lean times, it’s important that you find better ways to spend that money. 

So, what’s your plan?

If you don’t have one yet, we’re here to help. Here we’ll break down some reliable and inexpensive lead generation solutions your business can turn to in 2021 to keep business coming as we come out of the pandemic. 

More people are using the internet: Make it work for you

Internet usage surged 25% within a few days in March of 2020 as lockdowns took hold across the country to mitigate the spreading coronavirus, The Wall Street Journal found. While broadband usage isn’t what it was in March, according to the publication, by summer it was still substantially higher than it was pre-pandemic.

With fewer people going to the places where you may normally advertise your services, it’s important to focus more on digital marketing. Your prospects are increasingly on the internet, so you might as well meet them there. After all, if you do it right you can build an affordable online marketing plan.

Get more bang for your buck by targeting your marketing

Building out a digital marketing plan allows you to target your advertising to audiences most likely to spend money with your business. This means you’re putting your cash where it’s most likely to generate a return for your business. In other words, getting some bang for your buck. 

This could mean:

• Using targeted Facebook ads to connect with the right audiences in their news feeds. 
• Sending emails to past customers in order to reconnect and bring them back again.
• Follow up with qualified live chat leads who’ve shown an interest in your business. 
• Use targeted content to attract inbound leads to your website or social media pages. 

 

By hitting the right audiences with the right messages, you’ll stretch each dollar further in your effort to generate leads.

Identifying the right channels for lead generation

Connecting with prospective customers online is great, but there are so many options to choose from. Which works best for your business? A combination of channels can help you connect with a broad array of qualified leads.

1. Social media channels

If people are spending more time on the internet you can bet where they are: Their social media networks. Facebook, Instagram, TikTok, and other social platforms continue to dominate how we connect. 

A presence on social media will play a significant role in sculpting your brand and presenting it to potential customers. They also crossover with other channels such as paid ads and messaging.

2. Email marketing

Traditional email marketing isn’t dead. In fact, 59 percent of people say that email marketing influences their purchasing decisions, according to SaleCycle. And 80% of business professionals believe that email helps improve customer retention, Emarsys found. 

This is a great way to stay connected with customers. And there are affordable platforms that allow you to send blasts out to dozens or hundreds of recipients at once! These make low-cost, large-scale email marketing campaigns simple for any business owner. 

3. Paid ads

Sure, you’ll have to pay for these ads. But run your campaign the right way and the return on investment can be substantial. Google and Facebook each offer paid ad platforms you can take advantage of to target campaigns to audiences most likely to convert into qualified leads.

4. Your website

Your website is one of your most important digital lead generation tools. It should draw prospects in and offer them a number of ways to provide you with their information. 

I. Search engine optimization

This is one of, if not the primary way you’ll bring people to your website: optimizing it for search. This means everything from writing great copy for your website pages to set up a Google My Business account. Everything you can do to ensure your business is the top organic local search result.

II. Landing pages and form fill

Just about everyone has used one before: The form fill. The space on a website where you enter your information and click submit so someone will follow up at an uncertain time later on. It’s not perfect, but it’s still necessary. In fact, if you follow up in a timely manner these can be a powerful tool for qualified leads that convert into real business!

III. Live chat

Live chat is an affordable way to boost your website’s lead generation potential. And with a service that provides its own agents, you don’t even have to lift a finger to make it happen! In fact, live chat can increase your website conversion rate by 40%!

Low-cost lead generation across channels

The one commonality across all the above channels? Done right, they’re all downright affordable if not free. In times of economic hardship, strategies like these will help your business maintain its lead generation potential. Without sacrificing the profit you make from leads that convert into customers for your business.

Adapt your message to connect with prospects

The platforms you’ll use to connect with prospective customers are important. But they’re not all that useful without the right messaging. It’s your messaging that will convince social media followers or website visitors to set an appointment. 

The three most important questions you’ll need to answer in crafting your message are: 

 1. What’s your business’s unique value proposition?

 2. Who are your customers?

3. What sort of message will your prospective customers be drawn to and what is your business offering that the competition isn’t?

Answering these questions will help you speak directly to prospects—the essence of a targeted campaign that gets more bang out of each buck. When someone is searching for the right HVAC contractor or attorney, they’re going to go with the business that speaks to their needs. 

Is that you? If it is, you’re on your way to lower-cost lead generation. 

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