Generating, Converting Leads

Based on responses to its survey of 731 business-to-business professional service executives, Raintoday.com compiled an easy-to-read analysis of what lead generation tactics and strategies work.

Referrals were at the top of the list for ways to generate leads. Proactively soliciting referrals was the main advice given, the comprehensive report said. “Be honest, open, ethical, and good at what you do.

“And ask for the referral.”

Cold calling came in second, according to the $345 report, What’s Working in Lead Generation, which was reviewed by MortgageDaily.com.

Authors Mike Schultz, Andrea Meacham Rosal and John Doerr concluded that cold calling does work but only when done correctly. Suggested advice included that the caller “does their research” before the call, offers something of value, keeps the conversation light, takes notes and follows up.

Executives from finance, insurance and real estate service firms said participation in events, e-mail marketing and offline advertising were the next best and most effective forms of generating leads.

Warm phone calls, professional organization memberships and individual e-mails to prospects are three of the most commonly used strategies by these respondents, the survey said.

All of the above tactics, however, need to be integrated for maximum effect, the study revealed.

While brand recognition was essential to lead generation success in general, the study found that traditional laws of branding do not apply to professional services firms. They recommend branding through sustained long-term lead generation efforts to build awareness.

“It takes ongoing touches to draw prospects into the ‘seduction of your services,'” the authors wrote. “These touches need to be well planned, with a consistent message, at the right frequency, with the right mix of offers.”

Nurturing the leads garnished requires that the company find ways to demonstrate “the value you can provide and position yourself as a resource,” the authors wrote.

What works for those in financial and real estate services?

A majority of respondents said articles authored by experts in their company, initial consultative sales calls, case studies on client issues and in-person seminars, ranked respectively.

“The success of a services firm relies on its talented professionals’ time being put to the best use for the sake of the company,” the authors suggest. “Making the investment to either hire or outsource lead generation support is one way to get there.“