Lead Generation for your Business — Importance and Effective Strategies
What is Lead Generation?
Lead generation is the marketing process of piquing people’s interest in your business and leading them through a pipeline to become paying customers.
The marketing landscape has shifted in the last decade. Your business needs to cut through a lot of online noise to reach potential customers. The modern customer is adept at blocking out approaches that do not resonate with them.
So, modern lead generation is all about targetting the right people and cultivating meaningful relationships with them.
Importance of Lead Generation Marketing
Lead generation helps in targeting the right people. When the marketing is targeted toward a person who needed the product or the service, there are more chances of making sales and developing a brand reputation.
Lead generation also helps in building brand awareness and makes it easy for the business to handle the products and services information according to customers’ needs.
Lead generation also helps in collecting usable marketing information from the target customers. It helps in understanding the needs, wants, and preferences of the customers. The information can be applied by the company to enhance their customer’s experience.
Lead generation helps the companies in building a community of people interested in similar products and services which enhances brand loyalty.
The marketing department of a business focuses on generating leads and the sales department focus on the quality of the leads generated by the marketing.
The leads with the clear intent of buying your product or service and containing the means and finances to go through with it are called quality leads. Focusing on lead quality increases the chances of turning leads into sales.
Focusing on quality leads will get you, new customers, faster and hence, a loyal customer base can be built in less time. It will also improve your return on investment (ROI) because of increased sales, more customers, and avoidance of investment on dead leads.
However, focusing solely on quality leads can be damaging to the company’s growth. Pursuing the quality lead should be balanced with general marketing strategies so that the need for the product can be created and realized. Investing in strong and quality leads can still be a risk because even a quality lead can back out. If that happens, you will not only lose the money but also time and effort. So, balance is the key.
Strategies for Attracting Quality Leads
In today’s world, social media is the topmost platform for attracting people to the business. According to many B2B marketers, social media has proved game-changing for their business revenue generation and the development of customer base.
- 39% of B2B marketers generated leads from Facebook
- 30% of B2B marketers generated leads from Twitter
- 44% of B2B marketers generated leads from LinkedIn
Finding leads on social media has become a reality but it is important to find the platforms that suit your business.
Ways of Generating Digital Leads:
Several strategies can be implemented while generating leads. Some tips for finding quality leads are as follows:
- Set up a quiz on your website. The answers will help you in finding the best leads.
- Try to get in a link with the lead directly instead of intervening with a third party. LinkedIn makes it possible.
- Try to get referrals from the consumers who have used your product or services
- Set up an optimized Facebook business page to get quality leads.
- Write blogs about your products on your website and others.
- Opt for affiliate marketing.
- Send out cold emails to prospective clients.
- Run online contests and giveaways.
Launching a Lead Generation Campaign
1. Determine Your Objectives:
Before developing and launching strategies, make the objectives and goals of the campaign clear. For example, if you run a boiler installation business and are trying to generate boiler leads, make sure what is the result you want.
- Are you looking for new customers?
- Do you want to increase your market standing?
- Do you want to increase the revenue?
2. Consider the Audience:
It is important to have a clear idea and understanding of the target audience of your campaign. Consider the challenges you might have to face in reaching that audience and develop plans. Consider the values, usage of social media, locality, and seniority of the target audience. The factors will help you in selecting the strategy.
3. Marketing Channels:
Plan on what marketing channels will you be using for the lead generation campaign. Almost all marketing channels can be effective in one way or another. Some common channels used are:
- Email marketing
- Search Engines
- Content Marketing
4. Lead Capture Forms:
If you can bring the unaware audience to the website, make sure that you capture information from these potential leads with the least resistance possible.
A lead capture form is a good way but it can be time-consuming and the audience might leave the page instead of filling it. You can simply ask them for their email address, it will increase the conversion rate.
5. Collaboration and Optimization:
The collaboration between each department working on lead generation is important to get the best out of the campaign. Once the campaign is launched and you have started hitting the KPIs, the work is not over. It has just begun because there is always room for incremental approval.
Lead generation via digital platforms is an elaborate and effective way of getting quality leads for enhancing your business revenue and ROI.