Recently, the concept of "lead generation" has been heard from everywhere. However, not everyone understands how to apply this well-publicized marketing tool.
Lead generation is the process of creating targeted traffic of potential customers with contacts. Revenue in a business directly depends on the quality of its setup. How many and what kind of leads get into the sales funnel? If they are few or untargeted, there will be no sales.
Predominantly, business development now comes down to finding ways to increase sales. Many believe that it's the increase in targeted requests for cooperation, rather than improving the quality of the product or the terms of cooperation, that will give the desired super profits and development.
All in all, lead generation today has become one of the main ways to attract potential customers to sales and information sites. This way of attracting customers is an alternative advertising campaign, which sometimes may not bear fruit and will only become a source of additional unnecessary costs.
However, if a company has a properly built development strategy, attracting new leads should be the basis of enterprise marketing.
The concept of "lead" is defined as a targeted request from a potential client via a website/social network or other advertising and promotion channels for the company's products/services.
In fact, a lead is an application from a potential customer to a company through the advertising of this company everywhere on the Internet, television, in the press, and the like. Today, this tool is particularly popular on Google, Facebook, Instagram, LinkedIn, Twitter, and TikTok.
In terms of sales departments, leads can be:
Only a quality lead can become a potential client. The ratio of the number of leads to the number of customers that remain is called "conversion." For example, a company that received 100 leads, attracted through advertising, of which 10% later became customers of the company. In this case, the conversion of leads to customers is 10%.
To summarize, businesses need lead generation to increase the number of customers the company has.
The quality of leads depends on a combination of factors. These include:
You want to show your website visitors information about the product/service on the site and other resources. Moreover, you need to attract your target audience - that is, a certain circle of network users.
A visit to the website or feedback from a person also makes him/her your potential customer. Thus, you want to motivate your site visitors to leave their contact information for feedback.
Lead generation for business is an opportunity to attract potential customers in a cheap and quick way. That's why this service is in demand today in the "B2B" market.
Opening a lead generation business means launching a company, which also needs to protect the rights of its owners. Therefore, before official registration, you should think carefully about the structure of your future business. At this point, it is worth considering an LLC, which handles this task to the best of its ability.
If you're a freelancer, you can also engage in lead generation, if you can provide your clients with the following aspects:
The cheapest, easiest, and most accessible way to attract leads is the Internet. This means that not only large corporations but also startups in your city (e.g., local coffee shops, eco-food stores, etc) can become your clients.
Customers benefit from a budget way to attract their target audiences to their website or social networks.
A lead generation channel is an advertising channel, which allows you to attract potential clients. There are many various offline and digital channels like email marketing, live events, print, content marketing, landing pages design, television, radio, website optimization, SEO services, PPC, retargeting, and other channels.
Basically, the context of "lead generation" usually means digital advertising because of the concentration of different tools for lead generation and the ability to analyze all the actions of advertising in real time.
A lead generation plan ensures that you are targeting the right people to find quality leads.
Check the following 5 steps to creating a solid lead generation plan:
Setting up lead generation is a process where you begin to build relationships with your potential customers at every stage of the buyer's journey and sales funnel using relevant content. This is a very powerful strategy since it gives you the opportunity to gain the trust of your target audience by demonstrating to them that you are an expert in your niche.
If you have a customer relationship management (CRM) system, you can set up automatic lead syncing to process leads more quickly. Manually loading leads can lead to a long delay between receiving a potential customer and then reaching out to them.
Different businesses have their own ways of retaining leads and processing data. There are businesses for which only first, artificial contact with an audience is important. However, for the most part, companies are interested in processing potential customers' data in a quality way and generating interest with content or free offers until their potential customers become regular customers.
In modern companies, CRMs are used for the proper processing of lead data and modus operandi. Implementation of such a system should be performed by experienced professionals. However, without the initiative and desire of the owner, any innovation is impossible. He/she should become the #1 reformer who, by his/her own example, will start using the new system.
Today, companies offer businesses to provide a certain number of leads in exchange for money. Entrepreneurs don't even need to set up advertising - simply get leads and pay a certain amount of money for them.
Basically, such schemes are possible in certain niches. For example, there's an intermediary who specializes in leads interested in buying furniture pieces. He/she collects them by properly setting up ads and selling them to entrepreneurs who are willing to purchase them.
Alas, there are many pitfalls in this seemingly simple scheme, which are different for each business. That's why we recommend using any tools to attract customers, particularly leads, only with the participation of at least one experienced professional.
Now that you're familiar with the overview of lead generation strategies, let's move on to lead generation ideas to implement in 2021.
Choose a product for your leads carefully - it has to be the right people. Developing a user-friendly tool and offering it for free is one of the best ways to attract potential B2B customers. When your solution helps people solve their problems, they're happy to share their contacts. A good alternative is to offer a trial version of your product. You give people a chance to experience all the premium features, say, for 30 days at no charge.
Show lead generation pop-ups on your website. Fashion giants like Toms, Shopbop, Saks Fifth Avenue, and Mango have been using this B2C lead generation technique for years. Pop-ups are also a favorite method of bloggers to attract more subscribers for their email marketing campaigns.
A smart banner or welcome bar is usually located at the very top (or bottom) of a website. It hangs in there and appears once the site opens. Smart banners are useful to showcase your free shipping, promote flash sales, giveaways, free coupon codes, links to your upcoming webinars, etc.
If you've done original research, you can use it to attract more leads to your business. This lead generation method works well for B2B companies because business customers are often looking for ideas to understand their end customers.
Approximately 91% of B2B professionals consider webinars their preferred type of content. One webinar can attract more than 1,000 leads.
Social media platforms such as Facebook, Instagram, and LinkedIn offer ads to your potential clients. You can use them to run an ad campaign to get basic contact information from your leads, i.e. their full names, email addresses, phone numbers, etc.
To get the most out of your leads, make sure you reach out to them in a timely manner (i.e. process them quickly). Don't leave your leads unaddressed!
Leads should be processed as quickly as possible (not once a week).
Process your leads as efficiently as possible: call, find out whether your customer is comfortable to talk to, politely clarify if he/she left a request, placed an order, etc. Answer all questions and ask if the customer has any issues/wishes left.
If your customers confirm their action on the site, you need to serve them properly: make sure the product is delivered (or services provided) in a timely manner, send a specialist to their address, etc. Offering a bonus, discount, or a prize is also a good idea.
Company managers should be more proactive so as not to lose their potential customers. Consider assigning a separate team for processing.
Don't forget about metrics. Here are the three most important metrics you should always consider when analyzing the effectiveness of lead generation campaigns:
Adapt your landing page for mobile devices. To do this, check if the lead form is clearly visible, its fields can be easily filled in, and if the CTA button is big enough for convenience.
Once you've served your customers, don't forget about them, work with the contact information you receive, and enter the information into CRM systems (e.g. Monday, Salesforce Sales Cloud, Quickbase, Zoho) to turn them into your regular customers. A high-quality CRM will help you nurture leads and build better long-term relationships with customers. Even before interactions with the sales team happen.
Don't waste your time researching, analyzing, and copying your competitors and then blaming them for copying. It's better to sit down and think through your own competent lead generation strategy and then improve it by trial and error.
The business of lead generation includes the work of attracting applications. High-quality tools associated with increasing the effectiveness of the advertising campaign are the basis of the lead generation process. Your well-being grows with your clients' well-being. This is the key to strategic development, crucial for successful relationships with your customers.
Test, analyze, and change your tactics. In the field of lead generation, you have to constantly work, develop, and do everything possible to make your ad campaigns more effective. The Internet is full of potential customers - the sky's the limit. Thus, the more competent your lead generation strategy is, the more quality leads you will get.
Article contribution by Jean Wilson Murray
Jean Wilson Murray is a legal expert who has been helping aspiring entrepreneurs start their own companies for seven years already. During this time, he has investigated all the pitfalls in choosing the financial and management structure of a business, the establishment of companies, as well as the legal structures of enterprises and has become a highly skilled professional in this field.
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