Imagine you’re a street vendor trying to sell chopsticks. You can’t reach every person who walks by, but you could target people who are actually in the market for chopsticks.
Lead generation is a marketing strategy that helps businesses find potential customers and nurture them towards conversion. It involves several key steps: attracting interest, nurturing interest, and closing the deal.
1. Defining Your Goals
Having a specific, quantifiable goal can help keep the marketing team motivated to achieve it. It should also take into account the unique attributes of the target audience to ensure it’s realistically attainable.
The next step involves determining how much revenue you need to generate from new clients, then dividing that amount by the expected value of each lead. This will give you the number of new leads needed to reach your desired sales target.
At this stage, it’s also important to determine the types of content you’ll need to generate to reach your goals. For example, while it may seem tempting to start with a focus on getting more email subscribers, it’s better to look at what kind of content your current leads engage with (like case studies and product sheets) before targeting similar people.
2. Identifying Your Ideal Customer
Identifying your ideal customer profile is the first step in effective lead generation. This profile will help you target your marketing strategies and improve your conversion rates, as well as ensuring that sales teams are following up on qualified leads.
By identifying your ideal customers, you will be able to provide them with content that is tailored to their needs and pain points. This will not only increase your chances of converting them, but will also help you build brand loyalty and customer retention.
This process can take a while, but it is worth the effort. You can use your website as a lead generation tool, or you can utilize social media channels, email marketing, and other forms of online advertising. By providing your leads with the right information, you can entice them to hand over their contact details, which will be used in the sales funnel.
3. Generating Content
The most successful lead generation campaigns are based on content marketing. A variety of formats can be used, from webinars and gated content to white papers and infographics. These are typically offered in exchange for contact information, resulting in qualified leads that sales can follow up on.
Creating content for lead generation requires a clear understanding of the needs and pain points of your ideal customers. No crystal ball or mind-reading skills are required, though; the best place to start is with research using commercial keywords and buyer personas.
Educational videos are a tried and tested favorite, and can be highly effective when used in the right way. These should be focused on educating the audience rather than simply product or service features, and can include customer testimonials to add credibility.
4. Analyzing and Planning
A reliable lead generation process is a key part of any marketing strategy. It provides credibility to the marketing department and helps to show tangible results. Without one, marketers risk losing sales, revenue and even their jobs.
Using tools like Semrush can help you find the right keywords and create effective campaigns for retargeting leads. This is a popular strategy for boosting sales and ROI, and it works best for leads with high purchase intent.
Another way to generate high-quality leads is through a referral program. This involves offering incentives for customers to refer new business to your company. It can be a great way to get the word out about your brand and boost your social media presence. A successful program requires that you keep the database clean.
5. Using Software
In order to increase marketing ROI and skyrocket sales, businesses need to optimize their lead generation strategies. This is possible by using the right software and tools to attract and convert potential leads.
For example, if you provide tutoring services, you can reach out to parents by email or on TikTok with web content about helping kids prepare for SATs and ACTs. Then, they can click a link on your social media post to go to a landing page with a form that will collect their contact information.
Some software is specialized for lead generation, such as Phonexa which offers an all-in-one marketing solution for calls, leads, clicks, email, SMS, accounting, and more. It is easy to use and can be used for businesses of all sizes.