While the term free leads may seem something of a god send to many people in the business arena it is not how you find these leads it is how you use them which will ultimately decide their value. There are many different areas of the Internet in particular which allow you access to free leads but in some cases you may well need to plant seeds of thought and questions to catch the attention of would-be customers. We will now take a look at the potential for using free leads to further your business and increase your profitability.
What is a business lead?
A business lead is simply information regarding a potential customer who is looking for a particular service or a particular product. This lead may be exclusive to one party or it may well be available to more than one party therefore how you react and what offers you are able to give them will ultimately decide how successful you are.
At this point it is worth noting that not every business lead you ever receive, no matter how focused and how relevant to your business, will result in a conversion into a transaction. If you are able to convert anywhere up to 5% of your business leads into actual transactions then you should do very well. If you are able to convert anywhere up to 10% of your business leads into actual cash transactions then you are trading well above the average and should do very well if you can maintain this going forward.
Where do you find free business leads?
The leads tracking software which we have created allows you to scour the Internet looking for various terms and questions in relation to specific services and specific products. The more specific the business lead is to your business the more chance of a conversion as “loose” questions are often very difficult to convert because until you have contacted the customer you do not know what they are looking for.
Forums
Forums offer by far and away the most valuable free leads on the Internet today because popular posts attract significant attention, various comments and ultimately they will remain on the Internet forever and a day. If you’re able to start a forum post or start a discussion regarding your services or your products then you have done very well although ultimately many forums today are ultra-cautious regarding spamming and over zealous marketing.
One of the most successful ways in which to attract business leads from various forums is to pick a forum very relevant to your services or products and then to answer various questions. The fact that you are answering questions which have already been asked should take away the potential damage associated with spamming although this will depend upon how you respond. Offer a link, yes, offer more information, yes, but do not be overzealous and push the hard sell. Allowing customers to click on a link to your website will take the power back into their hands and allow them to feel more in control. Customers who feel under pressure are unlikely to buy from you but customers who feel they are in control and free to look around often convert at a much higher rate.
Twitter has fast become one of the modern-day goldmines of the business arena although unfortunately many people are still unaware of this. There are literally hundreds of thousands of requests and questions on the Twitter network on a daily basis which can, if treated correctly, can be converted into business leads. It is also worth noting that many Twitter accounts have hundreds if not thousands of followers and if you are able to get your product or your service, and the relevant link, in front of these followers then literally the sky is the limit.
One potential drawback regarding Twitter is the fact that many of the more popular accounts, with the largest number of followers, are often cluttered with chitchat and irrelevant conversation. Therefore, to make the best use of any potential business leads out there, free of charge, you need to present your link and your information when people are actually looking for it. On this basis it is vital that you monitor twitter, and indeed other social networks, on a regular basis to ensure you are on the ball and catching the “trend”.
Facebook, like many other social networking websites, is literally a goldmine if you’re able to present your information, your products and your services in a simple and user-friendly manner. The fact that it is very easy for friends of friends to access information and pass this down the line can lead to massive exposure in a very short space of time. However, as with Twitter, Facebook is often cluttered with irrelevant comments and this irrelevant information which can somewhat dilute those comments of a more interesting nature.
As a consequence you may have more success on social networking websites if you attempt something of a trickle feed of constant information about your business and products rather than hitting them with an array of posts in one go. If potential customers see your name on a constant basis even subliminally they will recognise you when they see you online and will feel more “at home” dealing with you. Finding a balance between over promotion and under promotion is not easy but trial and error should help you find an acceptable and successful technique.
Blogs
Even though many blogs have been overtaken by the likes of Twitter, and other social networking websites where greater interaction is available, there will always be a place for the basic and very simple blog. If there is a blog about a popular product or a popular service you can bet your bottom dollar that people will comment asking where they can buy these particular products or services. This offers the perfect opportunity to use our lead tracking software to find relevant questions which will allow you to respond online and offer your services.
Even if there is just one person asking for your product or your service, do not forget that many people will be looking at these blogs without actually commenting. So while some people may not comment specifically and ask for links they can still use any link you are able to add to the post. Again, you need to be very wary of spamming blogs around the Internet because not only does this upset website owners but it can have a detrimental impact upon your website SEO standing. Many people believe that blog posts and blog comments are a legitimate advertising medium and if you do these in moderation there is no reason to think anything else.
Focused leads
If you could have 2000 unfocused leads or 200 focused leads which would you take? The chances are that 2000 unfocused leads will be made up of irrelevant questions, irrelevant comments and irrelevant products. To make the most of any free leads they really need to be focused upon your relevant business arena and relate directly to the services or products which you offer. You will no doubt have seen an array of e-mails over the years offering you massive mailing lists for a few dollars which seem to be good value at the time. The chances are these mailing lists will have been sold on hundreds if not thousands of different occasions, will contain invalid links, may even be illegal and are unlikely to be wholly relevant to your particular business arena.
The more relevant and more closely associated any free leads are to your business and your products the more chance of converting. If for example you sell duvets and bedding and somebody is asking about bedroom wallpaper there is a very vague link but you may not be able to help them. As a consequence, this unfocused lead, even though it was free, is worth absolutely nothing to you and will do nothing more than take up your valuable time. However, if somebody is asking for a specific duvet cover or bedding then you will have more information to give to them, more experience to pass on and will ultimately be able to sell them something. This is a focused lead and one which could well create revenue for your business.
Do not discount free leads
There are many websites around the Internet which allow customers to ask specific questions and to request specific services and products. Many of these websites are free to those who offer particular services and products and simply make money by advertising. Do not automatically assume that all free leads and free advertising are irrelevant because this is not always the case. If you have the ability to join a website which attracts free business leads then what have you got to lose?
If you are frightened of the competition, what they offer and the standard of service they offer, then you really need to reconsider whether business is for you. You’re only as good as the services and products that you offer and the standard of service can in many ways gazump price competition. If you’re looking to make a real long-term difference to your business then you need to be up there competing with your compatriots and letting your business speak for itself. While any lead, whether bought or free, is useless and worthless unless you can convert it many free leads available today are as focused as purchased leads.
Spreading your wings
If you run a successful business the chances are that word-of-mouth and Internet advertising will make a massive difference to your medium to long-term prospects. However, if you built your business on lead generation, whether these were bought or free, you should continue this process into the future. True, your successful early days may well have given you enough ammunition and finance to try other options but do not forget your bread-and-butter. Even some of the more mundane questions which you answer on the Internet can attract the attention of other Internet users and lead to new business.
Over the years you will see changes in marketing and advertising trends and indeed customers will look for different things and use different tools to find these. Our lead tracking software allows you to enter a specific term and search for this across a number of different mediums. How you respond to these potential new customer leads is up to you but it would be foolish to throw these away just because they were free.
Focus, focus, focus
As we touched on above, wherever you receive your business leads from the more focused they are the better and the more relevant to your particular services or products the more chance you will convert them. There will be some leads which are borderline relevant to your business although some will be totally irrelevant and a waste of your time. If you’re able to filter out these irrelevant leads at a very early stage then this will give you more time to focus upon those which can potentially earn you money.
Conclusion
Many people are put off by the term “free leads” and very wary that you get nothing for nothing in business. While this may be true there is also no doubt that many websites depend upon contributors from the businesses arena to attract questions and leads to their sites. Even if they do not charge people to participate on their website the chances are they will have significant advertising revenue. So while the website owners are in effect using you and your potential customers to attract more traffic and more advertising revenue, you effectively have a free leads creator.
In reality, when you take a step back from the situation you can have as many free leads, or indeed bought leads, but they are only of value to your business if you can convert them. You may convert them today, tomorrow, next month or even next year so even if they do not convert immediately do not discount them. Make the most of any business lead, any word-of-mouth lead and any other form of advertising which attracts new business. The more new customers you can attract the better your reputation will become, assuming you deliver what you promise, and the more word-of-mouth referrals you will see.