The 14 Best Lead Generation Tactics

According to former Harvard Business School professor David Maister, typical marketing practices are not only inapplicable to professional services firms, they can be dangerously wrong.

Directors of professional services firms often tell me that they are frustrated with the quality of their marketing materials, concerned about the low profile of their company, or feel pressured that their efforts are not generating enough leads. Are any of these problems for you?

Many professionals are unaware that there is a body of knowledge about what works and what doesn’t work in professional services marketing. A review of marketing advice from Maister, Robert Bly, Alan Weiss, and other experts reveals a recurring theme of what works and what doesn’t in marketing for a professional services firm. My own 20 years of hands-on experience marketing professional services firms supports these findings.

The best marketing for professional service firms is educational in nature. Here are the top 14 tactics that work, in order from least to most effective:

the unsuitable seven

14. Cold calling: This should be done by a business development person, never a director. Nothing says “trust me” like a cold call. A better approach is what I call warm calls, which is a follow up on seminar invites.

13. CD-Rom or Video Brochures: These can be great lead conversion tools, but they cost too much for lead generation. Instead, paste the videos onto your website.

12. Printed Brochures: Again, don’t spend too much money up front to generate leads. Instead, create them as PDF files that Adobe Acrobat can read and place them on your website.

11. Cultural/Sports Event Sponsorship – Being the title sponsor of the right event can make an impact, but it is not the best use of lead generation dollars.

10. Advertising — Isn’t it ironic that none of the big advertising agencies built their clientele through advertising? However, if you specialize in one industry and they publish directories, it’s always good to have your business listed.

9. Direct Mail – This is the traditional direct mail of a letter and a printed piece, such as a reply card. Some accountants and financial planners have used this cost effectively, perhaps offering a free consultation (there’s a much better form of direct mail; see tactic #1).

8. Advertising — While getting your name in newspapers and trade magazines is a cost-effective way to increase awareness about your business, it doesn’t always translate into potential customers.

The seven magnificents

7. Paid Ballroom Seminars: Rent the ballroom at the local Marriott or Hilton and charge for a full-day or half-day seminar. Participants should walk away with a substantial package of good information from your company (and a good meal, too).

6. Email Newsletters – This is the torture of the dripping water school of marketing and the opposite of spam. By subscribing to his newsletter lists, prospects tell him they’re interested in what he has to say but aren’t ready for a relationship right now. These people should receive valuable practical information and invitations to monthly events until they opt out of the list.

5. Networking and Trade Shows – A great way to collect business cards and ask permission to put them on your ezine list.

4. Community Involvement and Partnership: Everyone likes to do business with people they know, like, and trust. You need to get involved and “circulate to leak,” as a professor at Ohio State University used to say.

3. How-To Articles in the Customer-Facing Press — Better than any brochure is the how-to article that appears in a publication your target customers read.

2. Hands-on speeches at client industry meetings: People want to hire experts, and by definition, an expert is someone who is invited to speak. Actively look for forums to talk and list past and upcoming conference dates on your website.

1. Free or Low-Cost Small-Scale Seminars: The best proactive tactic you can employ is to regularly invite prospective clients via mail and email to small seminars or group consultations. If your prospects are geographically dispersed, you can do these informative sessions over the Internet (Webinars) or over the phone using a bridge line (teleseminars). These cannot be 90 minute commercials. You should present valuable information on how to solve the problems your prospects are facing and then a short mention about your services.