• Anish Padmanabhan

Six cost effective strategies start-ups can implement to generate qualified leads

Updated: Aug 27, 2018

Start-ups always find it difficult to generate leads, irrespective of the market size or location It is quite tedious to keep up with industry leaders who have all the resources necessary to dominate a market.


So how can start-ups generate leads in such a market?


Well, Start-ups must utilize cost effective ways to target potential customers. They need to implement processes that have well defined goals which are capable of motivating potential customers to act. The aim is to start small, build authority and grow.


To start, here are six cost effective ways start-ups can generate leads:



Inbound Methodology:


The process by which businesses attract prospects by adding value to them through content at every stage of the buyer’s journey is referred to as inbound marketing. This is a tried and tested methodology that can easily be implemented by start-ups. In this process leads are mostly qualified since the prospect is well educated about the product and service by the time they convert. This process is cost effective and provides a high return.


Networking:


Being present at networking events allows start-ups to engage with multiple prospects. Start-ups must attend events and provide their insights and knowledge to add benefit to a prospect, it can help in building a business relationship. Networking may be tough for most people, but if done right can bring in qualified leads.


Knowledge authority:


One way to generate leads is by publishing content that adds value. start-ups can research and add value through their content by sharing industry specific stats and solutions. This process ensures that the industry considers and consumes its knowledge from the start up, which may lead to an authority status that can potentially open doors for qualified leads.


Workshops:


Start-ups can host workshops and invite small and medium enterprises to look at their product and services. They can provide a first-hand view as to what they can deliver and what the value add is. This format is more personal and will provide opportunities for start-ups to build profitable business relationships.


Market Through LinkedIn:


Starting up in a crowded industry and expecting to grow is quite tough, but platforms such as LinkedIn allows founders to create their own presence amid industry leaders. start-ups can utilize LinkedIn to promote their businesses via InMail and share content that adds value to generate a buzz in the market. LinkedIn is the largest professional platform that allows small businesses to reach out to potential customers.


Collaborations/Partnerships:


Start-ups can generate leads by partnering or collaborating with successful businesses within their market. They can collaborate on small projects or contribute to overlook a specific function. This method allows start-ups to grow faster and build credibility in the process. Long term mutual collaborations will open doors for qualified leads in the future.


These strategies are effective in generating qualified leads and are completely cost effective.


Let us know in the comments below on how you plan to implement these strategies to grow your start-up.


Further, to gain more marketing insights, click here