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Business Lead Generation

Date Added: November 24, 2008 04:33:24 AM

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Business Lead Generation, as the term suggests, is the process by which a business finds prospective customers who may be benefited by its products/ service. The process and nature of lead generation is dependent upon the buyer’s decision making. Though lead generation can be done in many different ways, the core strategies can be divided into the following types: Broadcast and Concentration.

One of the most common forms of the broadcast method of lead generation is advertising. Here the nature/ benefits of the product/service are communicated to a large group of prospective customers.

In the Concentration method, the business identifies and narrows down the set of prospective customers and then communicates the features of their products/services to them. This method is at work in the case of trade shows and market segmentation. In fact trade shows are held for the single purpose of bringing together compatible businesses, that is, two businesses where the requirements of one business can be fulfilled by the products or services of the other.

Moving on from the above two core processes of lead generation are ‘branches’ which are more specifically tailored for different media and businesses. These are: Telemarketing, Direct Mail, Email marketing, Web marketing (Search Engine Optimization/ Internet Media buying), Seminar or Training, Whitepapers or Product Literature and Publicity and Public Relations

Whereas Direct mail still continues to be used but with its increasing reach and influence, the internet has become a goldmine of opportunities. Keeping this trend in mind, business organizations are using greater percentage of their marketing budgets for online marketing.

Nowadays business organizations can also utilize the services of lead generation agencies. These agencies specialize in providing pre-qualified leads to businesses. Such agencies are very effective because the leads provided by them have a higher chance of conversion. Since these agencies specialize in lead generation, they are better at the job. They have exhaustive databases of potential leads and are very efficient at matching businesses according to their products and requirements. They help in reducing the time and resources spent on generating leads, because they have a better awareness of the requirements of different organizations.

Lead generation helps a company to determine its pricing per lead basis. The companies have the freedom to select the service/product, they would like to offer based upon the prospect’s business. They can target a particular market segment or geographical area for leads. They can pay on the basis of the leads they receive.

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