Top Ten Lead Generation Strategies for Small & Medium Businesses

Posted by Stephen Taylor on October 7th, 2021

The success of small and medium businesses lies in getting new customers, and at the same time, customer acquisition can pose challenges. Lead generation is a key part of the new customer acquisition process. It captures the interest of potential customers in product or service ultimately resulting in new customers and revenues. It involves identifying the target audience and finding strategies to reach that audience. 

As easy as it sounds, capturing leads can be quite complicated for small and medium enterprises. Research shows that SMBs may be either lacking leads altogether or the lead generation process is erratic. They do not have a consistent lead stream to count upon. Consequently, the sales opportunities slip between the cracks. They tend to waste their sales efforts by squandering valuable sales resources on variable leads rather than being able to quickly and easily sort the lead pool to separate out the highest-quality leads for conversion.

Presently lead generation for small businesses is undergoing a remarkable shift with the inflow of new technologies like moLotus. These have enhanced the ways of lead generation for small and medium businesses. They are handling the lead generation processes better; augmenting the new customer base. With the number of active smartphone users globally crossing the one billion mark and majority of SMB customers using smartphones, it is imperative for them to embrace mobile advertising tools for lead generation. 

Here are the top ten lead generation strategies for small and medium businesses ;

1. Use Mobile Advertising

Mobile advertising has emerged as a powerful lead generation technique for SMBs worldwide. Mobile technology like moLotus continues to play a pivotal role in how small enterprises capture leads, and with the global pandemic still playing havoc, the trend does not seem to be fading away any time soon. SMB customers are more likely to conduct searches for businesses or services right from their phones when they are on the go. moLotus mobile ads, therefore, serve as effective lead magnets instantly capturing key information like name, address, etc. from customers. These ads have gained greater customer confidence than any other platform available in the market resulting in higher response and conversion rates. Hence, moLotus stands as the most preferred option for small and medium enterprises looking for a mobile advertising platform.

2. Educate More Customers Using Story-telling

Brand communication in the form of stories has proven to appeal to multiple senses of customers. Stories can convey information within a short time holding customers\' attention improving the lead generation potential of campaigns.

Thanks to tools like moLotus, small and medium businesses now have the privilege of educating their consumers about their brand, or about their product and services by incorporating mobile video advertisements. Studies reveal that during the current pandemic season, mobile videos have been instrumental in educating, inspiring, and entertaining SME customers. Story-based campaigns have an emotional impact on the varied SME customers and have proved to be most effective. More and more SMBs are largely relying on moLotus mobile videos in conjunction with other rich media formats like greeting cards, images, brochures, and more to build effective story-boards and use them as lead magnets. 

3. Reward Loyal Customers

Small & medium businesses have discovered the tremendous lead generation potential in rewards & loyalty campaigns. SMB Loyal customers should be rewarded for choosing a particular brand over and over. Rewards include loyalty programs, discounts, or special offers to motivate customers. A marketing platform like moLotus can be of great help in creating reward-based campaigns and generating more small business leads. Such campaigns could enhance customer experience with businesses, build rapport and increase the possibility of converting them into fresh leads.

4. Offer Convenience to Customers

Recent studies reveal that SMB customers prefer to spend the majority of their time on mobile devices watching mobile videos This has proved to be a big lead capture opportunity for Small and Medium businesses. By using tools like moLotus businesses can send mobile videos to customers about their products and services. The SMB customers can easily and conveniently understand the products and services through multimedia messages that are comparatively more engaging than any other messages or notifications. Presently, customers prefer digital, at-home, and low-touch options. They can now digitally conduct any necessary research without feeling pressured to make a decision. Also, moLotus mobile videos requiring no face-to-face interaction can prove quite handy for those customers who don\'t enjoy dealing with salespeople.

5. Individualize Communication

It is essential to individualize lead generation according to the customer data resulting in quick decision making. The new-age moLotus platform offers unique personalization options such as name, customized greeting, reward, etc. More and more SMEs are creating hyper-personalized offers to engage the customer base better and generate leads for the business. Interestingly, in the case of the moLotus, individualization or personalization can be implemented using customer data & intelligence. The personalized content and offer reaches the customer\'s message inbox directly and stays there until deleted by the customer voluntarily.

6. Embrace Conversation Marketing

For small and medium enterprises, conversation marketing ensures two-way brand-customer communication and is the key to effective lead generation. Recent research suggests that tools like moLotus with multiple call-to-action have attracted more leads globally for the growing SMBs. Therefore, more small and medium businesses are resorting to moLotus interactive campaigns, offering unique customer response options like SMS, call back and clickable links, and more. Striking contextual two-way communication, SMBs have been able to acquire more customers.

7. Use Automation for Time Efficiency

Time can be one of the biggest bottlenecks for SMBs with steep lead targets to meet and revenue objectives to achieve. Adopting mobile automation for getting leads gives small businesses the ability to produce better results in less time. Mobile automation tools like moLotus make lead generation much faster, smoother and convenient. With the rapid evolution of mobile automation technology, the breakthrough moLotus automation capabilities are meeting the needs of the SMB sector in terms of lead capturing via robust automation API. The platform is empowering small and medium brands to create a superior automated experience for customers securing more responses and conversions.

8. Upsell & Cross-sell More

The SMEs have been practicing upselling to encourage customers to purchase a comparable higher-end product than the one in question while cross-selling to invite customers to buy related or complementary items. The upselling and cross-selling campaigns have been a key source of leads. However, in practice, most SMEs failed to achieve the targets due to lack of proper tools for the purpose. Incorporating moLotus into the lead generation strategy of growing SMEs has solved the problem with increased customer demand, leads, and sales. They have the privilege of creating unique upselling and cross-selling mobile campaigns, targeting customer databases aiming to capture quality leads and maximize ARPU.

9. Utilize Rich Media Ads

Rich media formats have become indispensable for the SMB sector suffering from lead crunch. For them, the rich media advertisements have outperformed traditional advertisements with increased leads, conversions, click-through rates, and impressions. Pioneering Rich media advertising, a platform like moLotus uses an amalgamation of digital media formats, including audio, video, slides, images, and much more. This makes the ads more responsive and adaptable to any size screen. More SMB customers can better engage with high-impact video ads upto 40 sec resulting in more leads and conversions.

10. Analyze Performance

Campaigns created via lead generation platforms like moLotus always give small and medium businesses the opportunity to directly measure their performance. They can tweak the lead campaigns in real-time, and fine-tuning them with changing consumer behavior. moLotus equips SMBs with robust real-time campaign tracking and data analytics. With access to real-time analytics, SMB brands can optimize campaign performance and capture more quality leads.

Conclusion

Small and medium businesses should stop sinking time and money into traditional lead generation techniques that don’t attract the intended customers. Rather, they should focus their resources on new-age technologies like moLotus for the purpose. The platform is already assisting small businesses pertaining to different verticals, increasing and converting more qualified leads. Embrace moLotus to gain more leads for your business and earn high margin revenues.