For many businesses, the utilisation of conventional media such as direct mail, television, radio and off-the-page printed advertising, comprises a large part of their marketing efforts. There is no doubt that conventional advertising strategies can be a powerful way to promote and build your business. But what is it exactly that your advertising dollars are paying for? Effectively you are paying for access to a target market – a database of people – who, for example, watch a certain program or read a certain publication. Each time you place an ad or insert a brochure for example, you are paying to gain access to that defined target market – regardless of your results.
Never pay for advertising again!
Another way to access this market without having to pay each time, is to generate leads from that media and build your own database of prospects that you can market to time and time again – hence increasing your marketing results and yield.
Instead of placing an advertisement that is designed to sell your product, place an ad with the sole objective to elicit a direct response from as many prospects in the target market as possible. Then, capture and record their names.
How to generate leads
The most effective way to generate leads is to offer a free or nominally priced sample of your product or service, or a complimentary product or service. For example, a financial services company may offer a free report on Everything you need to know about investments to generate leads to market to, or a seminar company may offer a free 30-minute audio tape featuring a forthcoming speaker.
To be effective the offer must be perceived by the prospect as having some value and little risk. For example, a value of $20 may be put on the report mentioned above or $49 for the 30-minute audio-tape.
Your offer can be tested in order to determine the quality of the prospects responding – this will have an impact upon your conversion to sale. A simple way to qualify leads may be to have them complete a small questionnaire, or you may charge them a nominal amount to eliminate Tyre kickers.
Finally, your lead generation advertisement must be direct response – ie., Designed to be cut out and sent back immediately, or have a number to call or fax.