4 min read

How to attract new leads for your business

A full break down of the free and paid methods for attracting leads to your business.

A couple of days back I published something on the 4 key stages of any business's growth.

  1. Attract
  2. Convert
  3. Engage
  4. Refer

If you can get a decent system set up for each stage, your biz's growth should go pretty well.  

I thought I'd spend a little time writing about what I've seen the top brands do at each stage. Today, I'll go into detail on the attract stage.  

The two umbrellas for lead attraction

Attraction is all about getting the right eyes on your offer.  

And, to be awfully reductionist about it, you can generally categorise each tactic into one of two camps.

  1. Free
  2. Paid

It's by no means a complete list, but the below explains a couple of the more popular tactics in each camp.  

ALL of the above are valid and useful ways of getting your offer in front of your ideal audience.

ALL can work.

ALL have worked for some brand out there today.

NOT ALL will work for you.  

You've got to figure out what's going to work best for your brand and stick to it.

It's easy to look at lists like the above and think...

"Right, I'll put 50% of my budget into social ads, 25% into display advertising, and 25% into sponsorships".

But that's a mistake.

If you're a small brand, you're gonna end up chasing so many threads you never have enough time to really take any to the point of profitability.  

If a large brand, you're gonna make it hard to understand which tweak and approach generated that recent revenue bump.

Keep it simple at first.  

Focus on one approach and get it to the point where continued ROI is almost guaranteed or requires little time investment from you.

Then spread to the next approach.

If you're not sure what to start with, maybe this'll help.  

How to find your best traffic attraction strategy

Let's be clear about something first.

Even the free options on the list above aren't exactly free. You can do them without spending cash, but they're going to cost time.  

All cash does when it comes to marketing is mean you can get results faster and with less manual effort.  

The graph of that looks something like this.  

Something like content marketing can be done for next to nothing.  

You can write articles and promote them in relevant communities for absolutely zero cost.

But it's going to take a tonne of your time.  

If you run ads, you can get a campaign that generates thousands of daily visits up and running within an hour.  

But it's also going to cost you thousands of dollars a day.  

And of course, you can outsource something like cold outreach to a contractor.

That'll fall somewhere in the middle as you have to pay the contractor and overlook their work, but the investment is lesser on both counts.  

If you're looking at implementing a new strategy, the first question is...

What do you want to spend? Time or money?

If the answer is 100% time, then you're looking at free approaches.

If it's cash, then it's paid.

The second question you need to ask is...

How fast do you need to see results?

The shorter the timeline to see results, the more direct your attraction tactic should be.  

And by direct all I mean is how aggressively you're putting your offer in front of your ideal audience.  

For example...

  1. If you have time to spend and don't need quick results, I'd go with content marketing.

Producing content and sharing it in free communities takes a lot of your time and can produce results if you do it consistently.

2.  If you have time and need fast results, cold outreach.

You email your ideal customers with an offer they can't refuse and get instant feedback.  

3. If you've got cash and don't need fast results, sponsorships

It'll take time to onboard people you sponsor and you're then waiting on them to get your message out.  

4. If you have cash and need fast results, paid ads

Because there are few better ways to instantly get in front of someone than a well placed ad.

I recently had a quick Tweet chat with Ryan Deiss on something similar which I might cover in another piece soon.

Whatever it is you're growing though, make sure you choose one attraction method that fits your means and needs.

And if you need help understanding how to do them well, check out the below.  

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Speak soon,

Pete