Lead Generation in the New Gen
61% of B2B marketers name lead generation as one of their biggest challenges. So, we decided to put together a list of steps that can help simplify the process and make it more efficient.
Contradicting the popular perception, lead generation isn’t only confined to cold-calling or sending out a bunch of emails. In the new age, it’s a more complicated process that involves effective strategies to be employed.
What is a Lead?
A lead is any prospective customer that has shown interest in the products and services offered by the company. Leads remain equally crucial for the marketing and sales team of a business. Lead generation helps in advancing new leads and generating the right leads.
Importance of Lead Generation
Generating leads is a crucial aspect of any successful sales strategy. However, we must understand that not all leads are equal, and aiming for a 100% conversion rate is simply unrealistic. This is why it’s essential to focus on attracting quality leads that have a higher likelihood of converting into paying customers. The importance of obtaining high-quality leads cannot be understated, as it serves the following purposes:
Build Brand Awareness
Lead generation can help build brand awareness by creating a consistent stream of targeted leads. By developing effective lead generation strategies, businesses can attract potential customers who are interested in their products or services, which can increase the visibility and credibility of their brand.
Target the Right People
Effective lead generation strategies are designed to target the right people at the right time. By focusing on the specific needs and preferences of their target audience, businesses can create targeted messaging and offers that are more likely to resonate with potential customers, leading to increased conversions and revenue.
Get Valuable Data
Lead generation provides businesses with valuable data and insights into their target audience, such as demographics, behavior patterns, and pain points. By tracking and analyzing this data, businesses can optimize their marketing strategies, improve customer engagement, and increase revenue over the long term.
Lead generation is a key driver of revenue growth, as it allows businesses to connect with potential customers, build relationships, and drive conversions. By consistently generating high-quality leads and nurturing them through the sales funnel, businesses can increase revenue and achieve long-term success.
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What are the types of leads?
There are two types of leads Based on Qualification.
Marketing Qualified Leads
MQL’s are prospective leads that have expressed some interest but haven’t made the purchase yet. There is a lack of data to determine their level of interest. The marketing team, who engages and nurtures them, handles these leads. Based on the new information collected by the marketing team and once the lead is identified as ready to make the purchase, it is forwarded to the sales team.
Sales Qualified Leads
The leads are now identified as SQLs. After a thorough analysis by the sales and marketing team, these leads are ready for the ‘direct sales push’. Thus, a thorough analysis helps make decisions on leads and how they are supposed to be approached.
Channels of Lead Generation
There are primarily 2 channels of lead generation – Outbound and Inbound marketing. Outbound marketing is disruptive and demands customers’ attention by disrupting their workflow. And inbound marketing is subtle and earns the attention of the customers.
Some channels of lead generation, both inbound and outbound may include:
- Email marketing
- Social Media Marketing
- Search Engine Optimisation & Content marketing
- Digital events
- Display advertising
- Referrals, amongst others
Before the Internet explosion, most lead generation happened through outbound marketing techniques. TV Commercials, magazine advertisements, and mailer lists were prevalent. However, with easy and abundantly available information, consumers selectively pay attention to content thrown at them.
In order to effectively capture the attention of consumers, businesses must tailor their strategies to match the preferences and characteristics of their target audience. This includes identifying the pain points and needs of their ideal customer profile and creating content that speaks directly to these concerns. Additionally, businesses should incorporate clear calls to action in their messaging, guiding potential customers toward a desired action or purchase. By focusing on these inbound lead generation tactics, businesses can more effectively generate leads and build meaningful relationships with their target audience.
lead generation strategies
Now let’s understand lead generation strategies.
1. Visible contact information and a contact form
If you don’t prominently display contact information while attracting leads, you risk losing traffic because they may miss the opportunity to contact you.
2. Opt-In Forms
Many visitors don’t leave their contact information behind. Thus, with actionable information that can be of use to potential customers like a free trial will help. They leave behind their contact information through an opt-in form for the company to convert them into potential buyers
3. Landing pages
It is a very crucial aspect of lead generation strategy since it is here that most conversions happen. An attractive landing page with a clear message leads to potential customers into taking an action. Thus, generating leads.
4. Email marketing
Put efforts into creating a marketing campaign through emails that capture the consumer’s interests.
A blog is essential in lead generation. The content posted attracts precisely those that are directly interested. It builds their trust in your authority over the field. This makes it easier to convert leads into customers.
Word-of-mouth marketing continues to be the most powerful strategy in lead generation. There might have a very effective lead generation strategy. However, the trust and interest that is built through existing customers are invaluable. Thus, customer satisfaction remains the topmost priority.
Chatbots are automated. So they can prove useful in data collection and direct customers to relevant sections. Rather than surfing through the site, customers are directly led to the most relevant sections for them. Thus, it will help you improve the conversion rates.
Chatbots can further make recommendations to the users and help them navigate better through your site and the services available.
Making the most out of your sales funnel
Lead generation thus continues to remain crucial in expanding businesses. In addition to the above-suggested strategies, influencer marketing and lead generation tools can also prove useful.
While lead gen through digital channels has become the norm, telemarketing hasn’t lost its charm either. While online and email marketing makes more sense in today’s day, telemarketing still stands as a precursor to them.
Related article: Is telemarketing still a relevant source of lead generation?
In addition to its ability to deliver sales numbers, telemarketing boosts the lead generation process by allowing marketers to gather useful consumer data.
One of the most important benefits of maintaining telemarketing as a strong lead generation channel is that it is human. Unlike most digital channels, your message to each customer can be customized to their needs, while building foundations for a long-term relationship. Isn’t that all that Lead Generation is inherently about?