5 Tips For A New Lead Generation Business

Starting up a new business is scary. According to Forbes, 80% of new business fail in the first 18 months. That’s one heck of a statistic. But you don’t have to be part of that 80%. In order to keep yourself from winding up in the lead generation graveyard, you’ve gotta bring your A-game to a market that is, luckily, still expanding every day. Here are a few useful tips to keep your lead generation business from meeting a grisly end:

Find your niche

While it’s appealing to try and go from nothing to mega-lead-generator overnight, you’ve gotta grow your business a little bit at a time, and this starts with finding a niche. What leads will your business generate that are under-represented or highly-demanded? The easy way is to pick one of those characteristics and building off that, but if you can find a high-demand, low-supply lead type, dive right in. But whatever you do, your lead generation business needs to at least start with a niche.

Know your cost limit

You gotta spend money to make money, right? Just make sure you’re not spending money without a plan. That’s a quick way to lose it all. Make sure you’re plotting out what each lead costs you, either through advertising or straight purchasing, and how much each lead is set to earn you. If you’re struggling with set prices on everything, look into something like ping post. This way your cost limit can have a little bit of wiggle room, and in new lead generation businesses, that’s a big deal.

Know your lead limits

Similar to your cost limits, knowing your lead limits is a key element of your new lead generation business. Leads only have a certain lifespan - especially phone leads - and having too many leads to get to in a reasonable amount of time is a good way to waste money. Do some research on how long it takes to work with one lead and extrapolate this to make sure you’re buying leads at the right pace. If you overestimate your ability to work leads, you’ll end up with a bunch of dead leads and wasted money.

Diversify your lead generation

Your lead generation doesn’t just have to be online. It doesn’t just have to be over the phone. There are plenty of ways to generate leads, and committing to just one is a good way to kill off your supply. Really sticking your neck out and getting out of your comfort zone, whether that’s through cold calling, trade shows, or any other medium, is the way to get real leads.

Create content

A lot of lead generators have blogs, webinars, slideshares, and social media accounts that share their best (or at least, their favorite) tips and tricks. Draw people in with content that will engage them and your ability to convert them into leads will skyrocket.