You might have heard the term lead generation thrown around a lot on the internet.
Lead generation is the process of generating a customer’s interest for a product or service with the intention that the interest will lead to a sale.
A lead is any person who shows interest in the product of your company in any way.
Oftentimes, the lead gets in touch with the company through an agent after opening communication i.e. taking their survey, submitting information to be contacted, or subscription. These leads are called high-quality leads and they can actually help companies boost their sales and ROI.
Acquiring leads is one of the main but most difficult objectives of any company. Every business dedicates a large budget to generate leads. And it all leads down to whether your prospects are ready to buy what you are offering because if they aren’t, you will find it hard to make sales.
But thanks to the innovative marketing tools, software, social media marketing tactics, and social media marketing, many companies can acquire high-quality leads.
How to generate leads effectively.
There are two main steps of the lead generation process. In the first step, you have to attract traffic to your site and in the second step, you convince them to share their contact information with you.
- Attract prospects to your site.
The first step in this process is getting traffic to your site. You have to find an effective way to attract prospects to your business. There are many ways you can do so;
- Search Engine Optimisation, SEO
SEO is an effective way to attract interested users to your site from search engines like Google, and Bing. It’s a way you can optimize your site so it appears on top of the search engine pages.
- Search Engine Marketing, SEM
SEM is the process of attracting prospects from Google and Bing but instead of being free, you pay these search engines to display your ads. These ads then attract prospects to your site.
- Social Media
Social media has grown immensely vast over the last few years. A great way to attract traffic to your site is through Social Media Marketing.
Aside from online marketing, you can also host events and company meet-ups to attract potential customers to your business. You can inform them about your company and website and ask them to take a look.
The second step of lead generation is collecting the contact information from the customer. You need to satisfy the prospect enough that they are willing to get in contact with you.
Here are a few ways how you can collect the user’s contact information.
- Info for Info
It’s the most commonly used lead generation tactic! You can exchange high-quality content available on your site for the contact information of the user. This content can be anything related to your business that can entice a potential prospect enough to buy from you.
Another way to get your prospects’ contact is by hosting surveys. Most companies have policies of giving points for answering a survey and in the end, the user can convert those points to physical money. Your prospects are asked to share their contact info in these kinds of surveys and it gives you an opening to generate leads.
Webinars are a great way to attract prospects. Host webinars to entice your prospects and inform them about the products of your company. You can not only create new leads but also educate and convince them about the efficiency of your products and ultimately convert them to sales.
Once a lead is created the becomes a marketing qualified lead (MQL) and your digital marketing team can start nurturing the lead via marketing campaigns. These campaigns involve email follow-ups with content that can educate and persuade a prospect to eventually convert into a buying customer.
Why is lead generation important?
Lead generation is the first step for a sales funnel and filling it with quality leads is extremely necessary. Although, the lead-to-customer rate is never maximum. Lead generation helps you attract only the customers interested in your business and cut out the rest. Here are a few reasons why lead generation is so important.
- Build awareness about your brand.
Lead generation allows you to communicate with your target audience, build awareness about your brand and educate them about your products and services. This allows your brand to be more well-known by potential prospects and it can bring more sales to your company.
- Target the right audience.
Through lead generation, you don’t have to play your shots blindly. When you know the customers that are more likely to buy your services and products, you can focus your resources on that specific market. This will save you time and money as well as allow you to streamline your company’s processes and nurture sales.
- Collect valuable data.
One of the most important components of lead generation is the research on your prospective customers, their wants, needs, and expectations, and your competitors. You collect valuable data this way which can help you improve your products ad services so that you can have an advantage over your competitors in the market.