New Business Leads: The Pros And Cons Of Various Lead Generation Solutions
New Business Leads: The Pros And Cons Of Various Lead Generation Solutions
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Home Page > Business > Business Opportunities > New Business Leads: The Pros And Cons Of Various Lead Generation Solutions
New Business Leads: The Pros And Cons Of Various Lead Generation Solutions
Posted: Mar 01, 2010 |Comments: 0
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A new home business owner? You need to review what are the benefits for your business, of the online lead generation solutions available to create your own new business leads.
Some methods are costly, but you can get results quickly. Others are free marketing strategies that require effort and time from you. Choosing a lead generation system for your new network marketing business will depend on your available budget, your marketing experience and your ideal audience.
In this article, I will list the advantages and disadvantages of the methods available for home business lead generation.
Offline marketing:
Pros:
* For someone with a business network, an extensive contact list and credibility, personal contact marketing might work very well.
* With a bit of enthusiasm and plenty of energy (and a low budget) flyers, drop cards and banner signs can work well for someone that has just started their business.
Cons:
* In a specific area, many network marketing business owners may use the same method to advertise their business and you may find several ads in the newspaper and several banners and flyers all using similar wording.
* Some areas do not allow the use of banner signs or place flyers on cars and you may encounter a run around with law enforcement
* Print media advertising is expensive and too pricy for the marketing budget of a new network marketing business owner.
* Radio and TV advertisements are expensive. Joining a marketing co-op is an option to do this advertising. The price paid (between 0 and 00 per month depending on the co-op) does not qualify the quality and quantity of the home business leads obtained through this method. Admin fees for the co-op and the management of the lead allocation, adds to the cost of this marketing.
Offline to online marketing:
Pros and cons:
* As above, as the only difference is that business cards and any print media contain a website address. The marketing plan is that the prospects will visit the website first where some frequently asked questions are answered. The prospect that needs more information and is still interested is requested to enter their details for a telephonic interview.
Buying leads
Pros:
* This method is quick. You can pay for leads today and have the details of your leads available within 24 hours
* The method is perceived to be fairly cheap. The price paid for leads will vary depending on the various lead generation companies. You can expect to pay around 0 for fifty telephone verified opt-in leads from one of the smarter lead generation companies with a good service record.
Cons:
* The leads are not great quality. Many lead providers have to offer an incentive to encourage prospects to enter their details on an opt-in form. These leads are business opportunity seekers that want the tax benefits and the extra cash without really thinking what they want in a business and why.
* Not all lead generation companies are ethical. Some re-sell the same list to more than one customer, resulting in irritated leads by the time you speak to them.
* There is often a significant delay (often as long as 60 days) from when the lead entered their details on the lead companies’ website to when you get the lead details. Many leads cannot remember they entered their contact details and you lose any possible impact.
* These leads have no point of reference to your business, as they have not visited your personal website. Talking to them would be the same as doing cold calling, which is not fun!
Buying genealogy leads
Pros:
* This is a quick method. You can pay for your leads today and have the contact details of your leads available within 24 hours
* This method seems like a quick solution to anyone with a shortage of new business leads and without a plan to do their own lead generation.
Cons:
* Network marketing companies sell the information of their distributors to anyone that will buy the information. They do not have the consent from the distributors before they sell the information. You can buy lists and the distributors are still active in the company. Be prepared to talk to highly irritated prospects that keep on asking “take me off your list, now”!
* Sellers of genealogy lists often obtain them in an unethical. Most people you contact off these lists did not give permission to their companies to sell their contact information and did not request a phone call by people selling a new business opportunity to them. You will deal with prospects that are disenchanted and negative towards any new business opportunity.
* These leads have no relationship to your business as they have not visited your website and requested you to contact them. Talking to them would be harder than doing cold calling, as they are also very negative towards any new business opportunity!
Ad hoc online marketing
Pros:
* This method is quick initially. You can have a free job listing or free listings listed within 1 day. You can have a newspaper ad or banner ad within 1 week and a pay-per-click campaign and article listed within 24 hours.
* Anyone with some online skills can try all the various methods available to advertise and can get some results
Cons:
* You never learn to fully master a specific online marketing skill if you continuously jump from one method to another
* You will compete with hundreds of other network marketing owners for the same market and unless you learn to market like the industry leaders, the competition in this type of marketing drives the marketing costs up e.g. a pay-per-click campaign using the highly competitive keyword “business opportunities” could cost you more than per click.
Targeted lead generation
Pros:
* Learn real marketing skills from industry leaders and learn to master one marketing skill at a time.
* This is not simply a gunshot marketing approach that hopes something will stick. This is a targeted marketing approach where you know to whom you market and you attract a high quality lead.
* You learn to display value to the online market place and learn to use your acquired skills to present yourself as the leader you are becoming, instead of just another home business owner.
* You learn to use credible marketing systems with qualified marketing funnels, lead capture pages, auto-responders.
* You learn to build relationships with your website visitors and you learn to use social media to make you real in the eyes of your prospects.
Cons:
* You need to be patient to acquire the online marketing skills you don’t have and become skillful in one marketing strategy at a time.
* You need to put effort in to study, learn, work and apply the various techniques until you have mastered them. You cannot pay someone to do it for you.
There is no comparison if you evaluate the pros and cons of the various methods available to get new business leads. Several methods seem like a quick fix for a home business owner in a panic and with a shortage of leads. Most quick solutions are not real solutions to the problem of a lack of leads.
The only real solution is to learn to generate your own, targeted leads. To learn and apply real online marketing skills. To use a credible marketing system with personal marketing funnels, capture pages and auto-responders. To be able to graft your down line into the same system to ensist they get the same quality marketing training, access to the same marketing tools and that they too, can duplicate their online success in their down line.
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Melanie Kok -
About the Author:
Melanie Kok is a Lead Generation Coach and an Online Marketing Strategist assisting home business owners to start generating their own business leads.. More articles on lead generation tips and new business leads is available on Melanie’s Blog. To get access to training to learn to generate your own business leads, go to Online Lead Coach Training.
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Melanie Kok is a Lead Generation Coach and an Online Marketing Strategist assisting home business owners to start generating their own business leads.. More articles on lead generation tips and new business leads is available on Melanie’s Blog. To get access to training to learn to generate your own business leads, go to Online Lead Coach Training.
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