Let's talk about getting new leads for your business
Let's be honest, that's what we're all here for.
Most people don't start a business because they dream of spending their days worrying about lead generation, SEO, networking events or social media algorithms. They start because they're good at something. They have a skill, a service or an idea they believe can help people and make a living at the same time.
Then reality hits.
Because no matter how talented you are, no matter how good your product or service might be, businesses need customers to survive.
Attracting new enquiries, winning new clients and keeping work coming through the door is something every business owner thinks about, whether they're a start-up in their first year or a company that's been around for decades.
The trouble is, the moment you start looking for advice, you're overwhelmed with options.
Network more.
Improve your SEO.
Post daily on LinkedIn.
Run Google Ads.
Send cold emails.
Start a podcast.
Launch a newsletter.
Before long, you're trying to work out which of these methods actually works and which are simply people trying to sell you their latest lead generation miracle cure.
Unfortunately, if you're hoping I'm about to reveal the secret formula that guarantees a steady stream of perfect clients every month, you're going to be disappointed.
Because if such a thing existed, every business owner would be using it and every lead generation consultant would be out of a job.
The one thing I've always found slightly amusing is that many lead generation companies generate leads for themselves by promising to generate leads for everyone else.
Oh, the irony!
Now, that's not to say these companies don't provide value. Some undoubtedly do. But if there really was a magic formula that worked for every business in every sector, we'd all know about it by now.
The reality is far less exciting.
Different methods work for different businesses.
Different audiences behave in different ways.
Different industries buy differently.
And perhaps most importantly, different business owners have different personalities.
What works brilliantly for one company can be a complete waste of time for another.
Wouldn't it be nice if I could tell you that accountants should focus on networking, solicitors should invest in SEO, and builders should spend their lives on social media?
Sadly, it isn't that simple.
So what are the options?
Referrals
Let's start with the one everybody wants.
According to Nielsen, nearly 9 out of 10 people trust recommendations from people they know more than any other form of advertising.
It's hardly surprising.
If a trusted friend, colleague or client recommends a business, much of the hard work has already been done.
The good
High levels of trust
Better quality enquiries
Often leads to longer-term relationships
Usually converts well
The not so good
Difficult to control
Difficult to predict
Can dry up unexpectedly
My take
Referrals are fantastic.
The problem is that referrals are a result of doing good work, not a lead generation strategy on their own.
If your growth plan relies entirely on people talking about you, you're leaving a lot to chance.
Networking
Networking has probably launched thousands of businesses over the years.
It's certainly launched a few hangovers.
The good
Builds genuine relationships
Creates trust over time
Generates introductions and referrals
Gets you in front of real people
The not so good
Time consuming
Results can take months
Some events are better than others
My take
Networking isn't really about selling.
It's about meeting people.
The mistake many people make is attending one breakfast event, collecting six business cards and wondering why the phone isn't ringing by lunchtime.
Like most worthwhile relationships, it takes time.
SEO
SEO is essentially about showing up when somebody is actively looking for what you offer.
Which, when you think about it, is quite a sensible idea.
The good
Reaches people with genuine intent
Works around the clock
Builds long-term visibility
Supports credibility
The not so good
Takes time
Requires ongoing effort
Results aren't guaranteed
My take
One of the things I like about SEO is that it isn't interrupting people.
You're not chasing them.
You're simply making it easier for them to find you when they're already looking.
The downside is that many businesses expect results in weeks when the reality is often months or years.
Social Media
Now we arrive at the one that seems to dominate every marketing conversation.
The good
Increases visibility
Helps people get to know you
Supports brand awareness
Relatively inexpensive
The not so good
Time consuming
Easy to become distracted by vanity metrics
Often attracts peers rather than prospects
My take
This is where I think many businesses get lost.
Designers attract designers.
Marketers attract marketers.
Coaches attract coaches.
Everyone ends up talking to people who do exactly what they do.
You can have thousands of followers, hundreds of likes and endless comments.
But if those people are never going to buy from you, what exactly have you achieved?
Attention is nice, but enquiries are better.
Cold Emailing & DMs
This one won't be for everyone, including me.
The good
Low cost
Easy to scale
Can generate opportunities quickly
The not so good
Most people don't enjoy receiving unsolicited sales emails
Low response rates
Easy to damage credibility
My take
Perhaps I'm old-fashioned.
But I've never liked the idea of turning up in somebody's inbox uninvited and asking for their attention.
Clearly it works for some businesses, or people wouldn't keep doing it.
Personally, I'd rather be introduced than interrupted.
Paid Advertising
Google Ads, LinkedIn Ads, Facebook Ads and everything in between.
The good
Immediate visibility
Highly targeted
Easy to measure
Scalable
The not so good
Can become expensive quickly
Stops when the budget stops
Doesn't fix weak messaging
My take
Advertising is like pouring fuel on a fire.
If you've got something worth talking about, it can help accelerate growth.
If you haven't, you're simply spending money to reach more people with an unconvincing message.
PR
The forgotten marketing tool.
The good
Builds credibility
Creates awareness
Provides third-party endorsement
Can reach large audiences
The not so good
Difficult to measure
Requires a story worth telling
Results can be unpredictable
My take
Probably one of the most underrated methods available.
A good article in the right publication can sometimes achieve more than months of social media posting.
So what's the answer?
If you've read this far hoping I'd eventually reveal the one lead generation tactic that works every time, I'm afraid you'll be disappointed.
Because I don't think it exists.
I've seen businesses thrive through referrals.
I've seen businesses thrive through networking.
I've seen businesses thrive through SEO, partnerships, PR, advertising and methods I hadn't even considered.
The common thread isn't the tactic.
It's the business itself.
The companies that tend to attract the best clients are often the ones that have figured out who they are and aren't afraid to show it.
They don't sound like everyone else.
They don't look like everyone else.
They don't blend into the crowd.
People work with people.
And whether somebody discovers you through Google, a recommendation, a networking event or a social media post, they're ultimately trying to answer the same question:
"Do I think these are the sort of people I want to work with?"
That's why I believe your voice, your personality and your reputation matter just as much as the marketing channel you choose.
The lead generation activity simply starts the conversation.
What happens next is usually down to you.
Of course, this is just my take.
I'd love to know what's worked for you.
Have referrals generated your best clients? Has networking paid off? Has SEO transformed your business? Or have you found another route altogether?
Equally, what turned out to be a complete waste of time?
Feel free to share your experiences, successes, frustrations and observations.
Who knows, you might even help somebody else who's currently searching for that elusive magic formula.
