What Is Lead Generation?
Lead is the manufacture of connections between well-matched consumers and target corporate vendors. Which really just means finding people who will buy what you have to sell. It’s often seen as the grunt work of building an effective business, but where would you be WITHOUT customers? So, you need to learn the skill of generating leads.
How do you generate leads? Several ways: advertising, trade shows, publicity and public relations, product literature, and somewhat less successfully by spam (definitely not recommended) All these methods are based on the statistical likelihood that if you communicate to a large audience, you should get a response back.
Another method of obtaining leads is buying them. Lead generation can certainly be expensive, but that’s actually a matter of what route you choose. It does NOT have to be. There are very simple and effective ways to generate leads that don’t cost and arm and a leg, especially if you’re willing to put some elbow grease into it and learn the techniques.
Cold leads people really love to hate because they’ve had to contact with these people before calling or writing them. Warm leads are people who responded to a request (or opted in by signing up for something). They either respond to you directly, or respond to you through your website. Hot leads are people who responded, indicating an interest in your MLM business. All leads need follow through, but different kinds of follow through, and these are the skills you need to learn.
This will interest you, conversion rates on leads you receive often have a higher conversion rate than cold contacts. Why? Because the prospect is prequalified, before you ever receive the lead. In other words, they asked to receive the information you have.
Companies spend huge amounts of time, effort, and money trying to get a few people to respond out of a large pool of potential customers to become a new lead. Yet, they don’t invest the time to follow up. Every day you let a lead sit unattended it decreases in value. You get out of lead generation what you put into it. Once you have a lead, start relationship marketing and build from there.