Understanding Lead Generation Methods in Sales

In the previous segments, you understood the need for generating leads and also learnt that lead generation involves two things: A great sales attitude and a robust lead generation method. Now, let's understand the different methods used to generate leads. 

Video 8.2.4: Lead Generation Methods - 1

In this video, you learnt the first four methods of lead generation, i.e., cold canvassing, references, seminar selling and networking. However, these methods are not enough to give you all the required leads. Let's understand more lead generation methods that will help you get enough leads for the sales process.

Video 6.2.5: Lead Generation Methods - 2

To summarise:

1. The primary circle is the set of people whom you know directly, such as your family, friends and relatives. 

2. The secondary circle is the set of people who are outside your primary circle and are not known to you directly. 

3. There are nine common methods adopted by salespersons to generate leads. They are as follows:

a. First is cold canvassing, in which the salesperson calls or meets the suspect unannounced and tries to take the process forward.

b. Second is using references, in which the salesperson asks the existing clients for references. Happy clients often give references to their family members, friends, relatives and colleagues who may need insurance. This is the most successful lead generation method.

c. Third is seminar selling, in which the salesperson invites people to a seminar with the assurance of a guaranteed gift, discount coupons or movie tickets. The seminar is used to make a presentation and set up meetings with the attending prospects.

d. Fourth is networking at public and private events, in which the salesperson attends events such as seminars, conferences and parties, and networks with the attendees to generate leads.

e. Fifth is approaching existing customers, in which the salesperson explores the new insurance needs in the lives of existing customers and tries to analyse them to propose new and more suitable insurance plans.

f. Sixth is sending mailers or leaflets, in which the salesperson sends a mail by physical or electronic mode to prospects, requesting them to respond or call back. This helps in seeking further appointments.

g. Seventh is advertising and using social media, in which the salesperson advertises their products and services in local newspapers and cable TV and also uses social media platforms to generate leads.

h. Eighth is using business cards, in which the salesperson collects business cards from several people through some activity and then seeks appointment using the contact details provided in those cards.

i. Ninth is five around. In this, whenever a salesperson visits a place, they pay a friendly visit to five people around that place and assess their insurance needs.

4. 'My market 50' is the list of 50 prospects that you should maintain at all times and also update regularly.