Lead Generation with Limited Marketing Resources
When your business is hitting a glass ceiling of $3-5 million in revenue and you want to break it, the first question you’ll likely ask yourself is “how do I generate more leads to get more new business?” While you’re in the right mindset, there’s a huge obstacle that is common for businesses of your size: a lack of marketing resources. A simple Google search for “lead generation” yields plenty of articles, including hacks “for beginners” and “complete guides”. However, most of them are either written for marketing professionals or suggest some complicated methodologies. It is clear that there’s no way you can run an effective marketing campaign without significant investments. Or is there?
Hype vs. Reality
The bad news is that there’s no silver bullet that will take care of your lead generation in a fast and inexpensive way. Any “blueprint” you buy from a marketing guru will require a thorough execution to be successful.
The good news is that you don’t have to pay for that “blueprint” and can get away with some inexpensive methods. It is possible to run an effective marketing campaign with limited resources as long as you find what works for you and keep it consistent.
Here are some best practices that will help you get your marketing on track without complications and unnecessary expenses.
Assess Your Situation
Before you decide on what lead generation activities you are going to run, it is important to find out if you have access to the necessary resources, like staff, software and online tools. Here are some questions to help you put together a viable plan:
- Who is going to manage these lead generation activities? How much time is it going to take from that person’s schedule?
- Do we have the necessary software and/or access to online tools?
- What materials/assets do we need to go along with these activities? How much are they going to cost?
- Are there any subscription/membership/sponsorship fees associated with these activities?
- Are there travel time and expenses associated with these activities?
Each of these questions has a dollar amount behind it, whether it’s in man hours, travel expenses or the cost of tools and services. Tally these expenses up to make a minimum budget for your lead generation plan.
This assessment will help you determine if it makes more sense to use your internal resources or hire an agency or freelancer. It will also help you decide if you should outsource all or only part of your lead generation program.
Align Sales and Marketing
I can’t emphasize enough that your sales team plays the key role in converting leads to deals. It doesn’t matter how many leads you generate through marketing if they are not being picked up by sales. Without effective sales and marketing alignment, you will waste the entire budget you spent on lead generation. Here’s how to ensure it won’t happen:
- Make sure your sales team is aware of all lead generation and marketing activities.
- Make sure your marketing team hands-off leads to sales in a timely manner and with all necessary details attached to them.
- Make sure your sales team has a follow up plan for the leads they receive from marketing and they execute this plan in a timely manner.
- Make sure marketing keeps an appropriate level of engagement with the leads that are being worked by sales. Case studies, testimonials and educational content are best for this stage.
If you happen to have one team or even one person assigned to both marketing and sales roles, then the plan remains the same, except for the lead hand-off.
In Part 1 we covered two essential steps you must take before putting a lead generation plan together. In the next post, we will talk about which techniques are most effective for lead generation and which aren’t worth your time and money.