Ethical Lead Generation??
A very popular sales and marketing principle that we often teach for lead generation is the principle of Limited Ingredient Marketing.
This principle says that the more you can actually give to your customers, the more they will want to buy from you. The principle is based upon the law of supply and demand.
This principle of limited ingredient marketing is often applied when you are selling a product that has a limited quantity. For example, when you are selling a one ounce bag of chips or a bottle of laundry detergent you are selling a limited amount of products. You are trying to get your customers to accept your product or service. If you can convince them to buy more of your product they will become your customer.
Scarcity Or Encouragement ??
When you are doing a sale of a limited quantity of a product, you are selling a limited amount of items at the same time. So, you are not trying to persuade your customers to make additional purchases of your product. You are trying to persuade them to make their first purchase of product A or B or both.
Now, let’s apply this principle to lead generation. The goal of lead generation is to get qualified leads. So, the first decision is to decide if you are trying to generate leads for one product or many products. If you are trying to generate leads for one product, the priority decision is the generation of leads for that product. If you are trying to generate leads for many products, the priority decision is to generate leads for the product(s) that have the least inventory (inventory is one of the factors to quality).
Which Phase & What To Focus On
When you are in the lead generation phase of your lead generation program the focus should be on one product at a time. For example, you start with generating leads for a particular product and decide how to allocate your resources among the lead generation platforms (these are the different ways you can approach lead generation). Once you have decided how to allocate your resources, once you are ready to generate qualified leads (you have decided the next step), you can allocate your resources to the next platform, or to a different product altogether. These are the different stages of lead generation.
- Pre-qualify leads – the main thing to remember is that the goal is to generate leads that are qualified. So, from your investigation you decide if you need the leads already generated or if you need new leads.
- Qualify leads – now you decide if you need the current leads already generated or if you need new leads. Once you have decided, you can start generating qualified leads.
- Refine the leads – the next thing is to refine the leads that you have already generated. In this case, you do not need the current leads, in which case you can delete them. If you need the current leads, move on to the next step.
- Improve the quality of the leads – now, you have decided what the next step is. You can either do a simple soft-sell or a hard-sell. The hard-sell is more effective than the soft-sell.
Allocating your lead generation resources is a very important decision. Because once you allocate resources to one lead generation method, you cannot allocate it to the next method.
Lead generation is a continuous process. You have to allocate your resources at least monthly. If not, your lead generation campaign will slow down and your sales campaign will come to a halt. You have to assign resources to lead generation every once in a while so that your business can grow.
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