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Oct 20th

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The Changing Face of Lead Generation

Oct 17th

Posted by Home Wealth Project in Marketing Tips

The Changing Face of Lead Generation

This content from: Duct Tape Marketing

I’ve spent a great deal of time over the last few years professing the virtues of what I’ve been calling the lead generation trio made up of some combination or advertising, public relations and referrals.

GoDakshin via Flickr

The idea behind the trio concept is to acknowledge the need to spread your lead generation activities out and diversify them in a manner that allows prospects to experience your brand in different variations and from entirely different points of view.

The components of the lead generation trio are dependent upon one another to work. They support and compliment each other and the sum the effort is definitely greater than the parts.

Lead generation in general has changed dramatically over the last few years as traditional broadcast or outbound methods have grown increasingly ineffective.

This doesn’t mean, however, that marketers are left without proactive methods for generating leads.

The fundamental idea of the blended lead generation approach is still valid, but when choosing members of a lead generation trio, business owners must now take into the account the shifting online and social landscape.

While I still contend that advertising is a primary lead driver when employed correctly, I further believe that SEO, or the ability to be found, and social media, or the ability to create direct engagement, have become primary lead drivers and must be included in any discussion concerned with rounding out the new lead generation trio.

In fact, you could easily make the case that referrals have become a member of the social media family and that public relations is now a subset of SEO. I know this point of view won’t sit well with some PR practitioners, but here’s how I now see the major lead generation activities

Advertising – this includes online ads, offline ads, direct mail, pay per click and the all-important elements of ad testing, conversion and tracking.

I believe every business that focuses on promoting content using advertising tools and incorporates landing pages, including mobile landing pages, into their conversion process can still generate leads in a quasi outbound manner.

The thing that advertising has going for it that no other form of lead generation can match is control. This is the one vehicle that allows you to select who gets your message and when.

SEO – The area of SEO is really much bigger than page and search optimization. I use this term to incorporate the production and use of keyword rich content and the acquisition of links in ways that make it easy for prospects to find your business when they search globally, locally and mobily (I know that’s not a word, but perhaps it should be these days.)

Using this broader description of SEO makes it easy to incorporate a great deal of today’s public relations activity, a great deal of which is designed to create content, links and direct prospect contact under the banner of SEO.

Social media – I’ve been saying this for some time now, but social media behavior and tactics have simply become baked into marketing in general, and of late I’ve seen this behavior mature to the point where it’s become a stable aspect of the lead generation trio.

I know many people still cringe at the idea of social and sales being mentioned in the same sentence, but social platforms have now become such an integral part of content discovery and sharing that it is nearly impossible to effectively generate leads via any form of advertising without the integration of social and most forms of successful SEO now rely on social platforms as well.

In a way social media has become the ultimate referral vehicle. Throw ratings and reviews into the social mix and you’ve pretty much round out the new face of lead generation.

So, if you still view SEO as the art of search engine manipulation or social media as a tactic still struggling to produce ROI, think again. Advertising, SEO and social media are now the foundational elements of a solid lead generation program and like so many things that are meant to go together – you can’t have one without the others.

View full post on Small Business Marketing Blog from Duct Tape Marketing

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6 Lead Generation Strategies for Local Businesses

Oct 6th

3 comments

Small businesses advertising in their own local market often operate under the “big local lie.” It’s common to see small business owners who have tricked themselves into believing that they don’t need to advertise at all and can rely solely on referrals for lead generation and repeat sales.

These small businesses will quickly discover that relying on referrals alone will cause them to get stuck in a growth holding pattern.

Let’s look at six ways smart local businesses can get more leads. As you can see, it doesn’t take a big marketing budget for small businesses to increase new leads and get more referrals.

Focus on Lead Capture—Establish a standard process for your business to capture lead information during any interaction with a potential customer. Train employees on the process and emphasize its importance for future business growth. When you’re interested in direct responses, you need to ask the right questions. You need to gather useful information that allows you to make business decisions that add up to profits. Coupons, discounts and trials are effective offers for capturing lead information in person. Forms, white papers and demos are effective ways to engage with your website audience and capture useful information.
Use Local SEO—Establish a Web presence for your business and optimize your website. Tools like Google Places are essential for getting listed and found online. Use the Google keyword tool to research common phrases people use to find your product or service. Make sure your page titles use those key words, and write page copy with those key words. Also, find and engage with local, influential bloggers. Build a relationship with them, or even offer to write a guest blog post twice a month. It’s never too late to get involved in social media and use it as a mechanism to drive traffic to your website. Make sure you’re using lead magnets across your social properties to capture information.
Segment Your Contact Database—Get the right message to the right person at the right time by tracking behavior. Monitor who visits your website, what Web forms they fill out, what emails they open and what links they click. Demographics and psychographics allow you to target your message and offering. Clearly outline the benefit your product or service offers based on your potential customer’s needs.
Create Partnerships—Build relationships with businesses that offer complementary products and services. Build your partner’s business into your business and yours into theirs. Make lead capture and your partner’s offering part of the entire sales and delivery process. The key to a powerful partnership is to create added value for your customers.
Promote Local—Local consumers want to benefit their local community. Consumers will buy local when it is convenient, when they have a relationship with you, and when they are informed. Consumers will even be willing to pay more for a product or service once they are loyal to a local business. There are numerous coalitions and organizations that support locally owned businesses, which form the backbone of the local economy. Join your local chapter of Local First and chamber of commerce to stay informed and visible to local consumers.
Develop a Referral Strategy—Create a methodical way to generate referrals. Outline a systematic referral process and incentivize your employees for collecting referrals. The best time to ask for referrals is at the time of purchase, shortly after a recent purchase or after a customer satisfaction survey. Caution: Never ask for a referral when a customer is not happy. Track referral volume and conversion rate month-to-month.

Lead generation does not have to break the bank. Established processes and focused execution have the power to grow and sustain a small business. To hear about more strategies for increasing local lead generation activities, check out this previously recorded webinar.

6 Lead Generation Strategies for Local Businesses

View full post on Small Business News, Tips, Advice – Small Business Trends

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The New Baby Boom Generation: How to Profit From It

Oct 5th

1 comment

Remember the Baby Boomers – that massive group of people who came of age in the 1960s and set out to change the world? I’m one of them and while we Boomers may not have revolutionized everything we set out to do, we did change the face of marketing as companies watched our every move and figured out how to profit from it.

And while the Boomers are still a force to be reckoned with, there’s a new demographic in town that could prove even more profitable: The Millennials.

The Millennial generation, also known as Generation Y or the “Echo Boomers,” is three times bigger than Generation X and even bigger than the Baby Boom generation. The dates of the Millennial generation are not precisely defined, but depending on what measure you use, their birth dates typically stretch from the late 1980 to 2000.

Barkley (a marketing agency), Service Management Group and The Boston Consulting Group recently released a new study, American Millennials, that sheds some light on this massive generation and its potential to generate massive profits for marketers. Here’s some of what they found.

They’re mobile. No surprise, but Millennials are early adopters of mobile shopping and are more likely than non-Millennials to research products with a mobile device while they’re shopping (50% compared to 21% for non-Millennials).

Lesson for your business: If you’re not already exploring mobile marketing, you need to be. And even if you’re not targeting Millennials now, keep in mind their familiarity with mobile means this will continue to be a crucial marketing channel as they get older.

They care about causes. Millennials were more likely than other age groups to be aware of cause marketing campaigns such as Gap RED (26 percent compared to 9 percent for other age groups). They typically learn about cause marketing campaigns online through social media or news channels.

Lesson for your business: If there’s a cause that resonates with Millennials and makes sense for your business, consider getting involved. But be sure it’s something you truly care about, since Millennials can spot inauthenticity a mile away.

They don’t watch much TV—at least, not on TV. Nearly half of non-Millennials watch more than 20 hours of TV a week; by comparison, just 26 percent of Millennials do. That doesn’t mean they don’t watch TV shows—they just watch them on their computers (42 percent), on DVR (40 percent) or On-Demand (26 percent).

Lesson for your business: Primetime commercials—long the province of big companies—are getting less influential, which means your message has a better chance of breaking through. Online advertising or clever videos that Millennials can share with their friends could be better marketing tools than traditional TV spots. (You Tube is a great way to potentially get your message in front of millions.)

They seek affirmation. I’m not saying they’re sheep, but Millennials are more likely than non-Millennials to shop with friends or family members along. And maybe it’s the fact that they’ve grown up with social media or constant affirmation from their parents, but Millennials are more likely to seek their friends’ input about what to buy, where to eat or how to spend their free time, and prefer it when their peers agree with them.

Lesson for your business: Get involved in social media that lets customers share opinions about your business, tell their friends what they’re doing (say, by checking in at your store or posting photos of their purchases), and give and get feedback on their choices.

They’re stylish. It’s no surprise that Millennials care about fashionable clothing, but in a case of “do as I do, not as I say” they want your salespeople to walk the walk. If clerks in a clothing store aren’t dressed stylishly, Millennials likely won’t even come in.

Lesson for your business: This one translates beyond just clothing retailers—make sure your front line employees are living your business’s brand, not just giving it lip service.

Because the Millennial generation is so huge, understanding what they want is imperative for every business. If you hope to continue growing your business as the Millennials grow older, you’d best start paying attention.

The New Baby Boom Generation: How to Profit From It

View full post on Small Business News, Tips, Advice – Small Business Trends

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Aug 27th

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Black Business Secrets Offers Tips to a New Generation of African American Entrepreneurs

Aug 20th

Many young African American leaders are giving the economic foundations of the African American community a reboot through entrepreneurial success. One standout is Dante Lee (@dantelee), CEO of Diversity City Media and founder of BlackPR.com and BlackNews.com. His book Black Business Secrets: 500 Tips, Strategies, and Resources for the African American Entrepreneur breaks new ground by fusing insights from past leadership with those from new entrepreneurs who have staked successful claims. I learned about his book while browsing a bookstore, and picked up a copy for review.

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Lee opens the book with history and statistics on minority startups, then segues into a Q&A with established business leaders such as Bob Johnson, founder of BET, Wally Amos of “Famous Amos” cookies, and George Fraser, founder of the FraserNet conference. He also wisely highlights Frarah Gray, the youngest black business millionaire outside of entertainment; Tom Burrell of Burrell Communications; Nadine Thompson, founder of Warm Spirit; and Gwen Richardson, founder of Cushcity.com. There’s also a foreword by Randall Pinkett, author of Black Faces in White Places (see the review), so a cross-generation of leaders appears throughout the segment and book.

Black Business Secrets is written to coach a person starting out in entrepreneurship. It is not extremely deep in subject matter, but as perspective-packed as it is in a 289-page paperback format, it’s not supposed to guide your every step in a specific industry. Lee offers a number of resources appropriate to the topic, be it freelancers, consultants or those seeking government grants. Secrets is a great gateway for readers who are approaching business building from many lifestyles.

Understandably, Lee’s forte–online media–shows in the chapter on cyberpreneurs. He clearly understands today’s entrepreneurial landscape. For example, Lee cautions against obsession with hits, an argument I have read many times online, but Lee frames the right explanation of how measuring hits has no relationship with serving your customers: “Nobody cares how many hits your website gets.” Moreover, the suggested resources are perfect for businesses looking for an African American online audience but unaware of which sites are best for potential engagement.

Gain entrepreneurial acumen in down-to-earth language

Some of Lee’s advice can seem too anecdotal, especially in the opening segments, but it is meant to summarize material that may be best studied in a longer book. Take, for example, a comment about offering a product or service that can be copied by competitors.

“Running a business that can be easily duplicated is dangerous…the real solution is to lock it down.”

Lee does go on to describe five ways to lock it down. But books like Service Innovation, which examines how to dissect services to discover new offerings to customers, expound using actionable details and methodologies.

Yet the advice that is better served with further detail segues into meatier, straightforward segments on best business practices, finance, and marketing tips. Lee grounds these tips with seasoned business acumen. As a result, chapters read in down-to-earth language and convey brilliant experience, rather than the “Top 10 blogpost outtakes” found in many books today. The business grant information is particularly useful, eliminating the myths and highlighting the facts.

Lee’s best comments provide answers to situations with detrimental outcomes. When addressing family and friends who want the free “hook up” he provides a solution:

“Create VIP discount passes for friends and family. Explain that they are truly VIPs because they are committed to helping you create a strong foundation for your business or professional services.”

Another tip directs our attention to bad clients and the value of time to good clients:

“Most of us – particularly those who offer services instead of products – seek loyal customers, but loyalty is overpriced when it begins to consume too much time and energy – and thus destroys profits…. Consider how much business he actually adds to your bottom line versus how much he really costs your company – be the cost money or time spent in expensive do-overs or mediating unnecessary dramas.”

Lee also offers splendid tips aimed at authors who seek media promotion for their latest release. How-tos on press releases also provide value. And Lee also includes contributions from other professionals. In the case of the client value comment, he adds a few words from G. Richard Shell, a professor of legal studies at University of Pennsylvania’s Wharton School.

With Lee’s straightforward advice, Black Business Secrets unlocks the entrepreneur mind-set in its readers. So if you are a new small business owner, add it to your reading resources. You’ll find your odds for success improve with each page and will soon begin taking each word to heart.

Black Business Secrets Offers Tips to a New Generation of African American Entrepreneurs

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Next Generation Leadership

Jul 22nd

Often cartoons come to me in roundabout ways. Snippets overheard, phrases popping out, just plain daydreaming. . .

But this cartoon had a more pedestrian birth. A large business publication sent out a letter that it was looking for cartoons on “next generation leadership” for an upcoming issue.

Normally I would dig into my inventory and send something appropriate, but this was so specific and narrow, and it had been so long since I’d sold them, that I took a chance and created some tightly targeted cartoons.

This is by far the nerdiest of the bunch, and wasn’t purchased, but when it finally sold years later I felt a little cartoon weight off of my shoulders.