Irrespective of the size, it is important for every company to generate enough sales revenue to meet its business costs and maximize returns for its investors. In case of small businesses, it becomes difficult to generate new business after a certain period of time. Most of the revenue is generated from existing customers.
However, it is essential for any small business owner to increase his/her market share in order to grow and survive in the long run. While focus should be on retaining existing customers, all possible efforts should be made to attract new customers and expand business.
Four Important Ways of Generating More Leads for Your Small Business in 2012
Recommendations from Existing Customers
One of the most effective ways of generating more leads is to approach new customers with the help of existing customers. Nowadays, customers prefer to work with businesses having good market reputation and excellent customer feedback. Word of mouth publicity can give wonderful results for a small business. In this case business owner is not required to incur any marketing costs in order to generate more business.
Nowadays, customers prefer to do most of their purchases online. Another cost effective means of generating more leads is through online marketing. A small business owner can develop a small website or prepare online brochures. Such brochures can be directly forwarded on prospective customers email. Properly drafted emails along with such brochures can increase the possibility of extra revenue. Without online marketing, small business owner may have limited access to local customers only.
Online marketing can help in creating awareness and increasing customer base across different locations. Small businesses can also use social networking sites to market their products and services. Business owner can request his/her friends, relatives and family members to circulate information on the products/services offered by him through such networking sites. Depending on costs, paid advertisements can also be given on such social networking sites and search engines.
Participation in Trade Fairs
A small business owner can also participate in various trade fairs. Participation in trade fairs can help the business owner in reaching a wider audience. Such trade fairs can be used to display products. Visitors can be given free samples. Thereafter, feedback forms can also be provided to the visitors to comment on the quality of product.
Trade fairs facilitate direct interaction with the prospective customers and increase the possibility of generating new leads. Participation in trade fairs may involve some investment. Also, early registration is required to get appropriate space. Therefore, business owner should plan his/her budget accordingly before taking a decision to participate in a trade fair.
Advertise in Local Newspapers/Journals
Small business owner can also use local media (newspapers, journals, local community magazines, etc.) to advertise products/services offered by his/her firm. He/She can also sponsor a local community event and use banners (at such event) to market the products/services. Distribution of visiting cards along with brochures (containing basic details on the nature of products/services) at such events or through local newspapers can also help the business owner in generating more lead.