If you ask me whether the arrow released by you from the bow will hit the target, I will say it depends on a lot of factors like your hand stability, head position, release time, the weight of the arrow, distance, and so on. Likewise, consider lead g...read more
If you ask me whether the arrow released by you from the bow will hit the target, I will say it depends on a lot of factors like your hand stability, head position, release time, the weight of the arrow, distance, and so on.
Likewise, consider lead generation as your bow and arrow, while sales or revenue is the target. Definitely, lead generation will give you the business, but how much it all depends on your lead generation strategies, especially when you’re aiming for digital marketing. Remember, your focus should not be only on generating leads but generating “Quality Leads”.
It is estimated that by 2023 the marketer will invest $201 billion in lead generation campaigns. This is a clear indication that lead generation is the top priority of entrepreneurs to cash-in more business revenue.
Lead generation is not far away from digital marketing. What I want to convey is that if you believe in digital marketing effectiveness and success, then lead generation is the axis of that success. Let’s take a step-by-step tour to understand the effectiveness of lead generation in a digital marketing strategy.
How is traditional marketing replaced by digital marketing?
The marketers have deferred from using brute force marketing after the introduction of digital marketing. Instead, they adopt the lead generation path that is more customer-centric and result-oriented. ( see image below)
This is how marketing trends have evolved in their operations.
( Image source: marketo)
What is lead generation?
Lead generation is the way that you attract and capture consumer interest in a product or service for the purpose of sales. It sits in the middle of the sales funnel or often known as MOFU ( Middle of the Funnel).
The cost per lead is an essential KPIs that tell how effective your lead generation strategy is. For instance, a lead source that generates you $500 sales for every $100 is better than a lead source that brings in $100 in sales for $100. If your cost per lead is higher than the average cost than make sure that it is a quality lead.
As per one of the surveys, the average cost of a B2B sales lead varies by industry. The leads in the health care sector rank highest ($60), followed by business/finance ($43). The low-cost leads are for marketing products/services ($32) and technology ($31). So the effectiveness of your lead generation also depends on what industry your product or service belongs to.
It is an achievement if you are receiving lead in volume, but if the cost is also increasing with the volume, then it is better you put the brakes on it.
Quality lead generation
Quality leads are another deciding factor between the success and failure of your lead generation campaign. As we discussed above, quality leads have more weightage and a chance to convert into sales. It is always advisable to target quality leads rather than random leads. On an initial basis, it may take time, or you may have the lesser lead, but over the long-run, it will be a fruitful effort.
Tips for generating quality sales leads
Differentiate between leads and Inquiries
Filter out sales lead from marketing lead
Categorized quality leads into three categories - hot, warm, and cold. The sales team can work on hot leads while the marketing team can work on warm and cold leads
Use a lead management automation system. It should help to prioritize the leads based on lead scoring
Lead nurturing is a vital part of converting a lead into sales. Do not miss the signs of progress through the buying cycle like- a frequent visit to social media page/website, sign-up for regular newsletters, inquiry of specific product through mail, subscribe to your blog, responding to product offers, or quiz, etc.
Mistakes to avoid for your lead generation strategy
Most entrepreneurs understand the significance of lead generation in digital marketing, and therefore they pour money on a large scale towards it. But not all of them had a great experience out of it. It is due to the fact that they make mistakes in their lead generation strategy. Just by avoiding these mistakes, you can harvest better results from your leads.
Marketers are more focused on “lead generation” then “lead nurturing”. Lead nurturing weighs equal to lead generation.
Many digital marketers do not research on latest updates. With consistent updates in advertising platforms, it has become essential to track your campaign’s return on investment and purchases
Fails to conduct lead generation audit
Fails to optimize top pages for lead generation
Not using analytics tools and focusing on wrong metrics. The individual should keep an eye on critical parameters like CTR ( Click Through Rate), Conversion Rate, cost per customer and Time to customer conversion)
Not relevant or consistent marketing campaign format
Not defining an ideal customer profile
Buying leads instead of growing organically ( Nurture your leads)
Not channelizing the leads to the sales team
Not using multichannel marketing
Did not perform A/B testing for lead generation like landing page layout, test different form design, etc
Not having quality data to parse quality lead
The lead generation works better for marketers when they understand consumer needs and how to attract them. Facebook has about 2.6 billion monthly active users as of the first quarter of 2020.
It is a big pool for business people to sell their products or services. But it is not of any use if marketers have not aimed to the right group. For instance, for your google ads, marketers must know the headline length, lead image, and proper keyword selection.
Besides all the information mentioned above, I would say lead generation is a process that never ends; what works this month may not work next month. Also, remember there are competitors who always stay vigilant over your leads.
In today's online business world, lead generation in digital marketing is a very important tool that can potentially bring huge profits to your online business. Lead generation is basically a technique in which businesses create interest and awarenes...read more
In today's online business world, lead generation in digital marketing is a very important tool that can potentially bring huge profits to your online business. Lead generation is basically a technique in which businesses create interest and awareness among potential consumers for their product or service. In this process, businesses will use a variety of strategies such as surveys, promotions, etc.
What is a Lead?
A lead refers to a prospective customer in your target market who is genuinely interested in buying your product or service. In simple terms, lead generation in digital marketing is the procedure of attracting such potential customers to your business through the use of effective sales techniques that include advertising via search engines, e-mail marketing, and other internet-based strategies.
If you have a good website, your potential customer will be able to find you easily and it will be easy for you to convince them to fill out a form that will enable you to collect their contact details so that you can do your marketing or follow up work. Once you have their contact details, you can start conducting targeted campaigns using email marketing, pay per click advertisement, and other internet-based tools.
Lead Generation tools
However, this process can only be effective if there are accurate lead generation tracking tools in place. These lead tracking tools can be software applications, reports generated by the software itself, or external websites that can collect demographic information from your website and also from the visitors that are on your site. This information can be valuable in helping you understand what your target market or niche is looking for. It will also help you measure your marketing tactics such as the number of leads that you are generating and whether these are converting into actual sales. This information will be invaluable to you as a business because you will know exactly how successful your marketing efforts are and you will be able to adjust your tactics accordingly to improve your conversion rate.
However, some essential tools for generating leads are based on different purposes such as Lead generation with email marketing, email address finders, outreaching tools, CRM tools, sales, communication and advertising tools and more. Here are some useful lead generation tools:
Optinmonster
Hunter
Outreach plus
Hubspot
LinkedIn Sales Navigator
Salesforce
Drift
Google Ads
Referral candy
Zapier
Lead generation in Digital Marketing
With the ongoing revolution in digital marketing, there are many questions that have to be asked. One such question is what are the benefits of lead generation in digital marketing? The answer to this question is quite simple. Digital marketing leads can provide you with a highly targeted set of potential clients and customers. Lead generation in digital marketing is considered to be one of the most effective marketing solutions for generating long term sales leads, which have an excellent rate of conversion.
Today, there are a number of digital marketing agencies that offer lead generation services. These experts provide services in search engine optimization, pay per click, search engine advertising, video production, affiliate marketing, website optimization, e-mail marketing, press releases, web design, and a host of other services that help you boost your online conversions.
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Shanky Gupta
Managing Director at Softuvo Solutions Private Limited
Managing Director at Softuvo Solutions Private Limited (2016- Present)
Managing Director at Softuvo Solutions Private Limited
Updated Last week
Lead generation is the process to attract and convert prospects into someone who has shown interest in your products or services. In short, it is a transition from a visitor to a customer. More than 87% of marketers agree that lead generation is the ...read more
Lead generation is the process to attract and convert prospects into someone who has shown interest in your products or services. In short, it is a transition from a visitor to a customer. More than 87% of marketers agree that lead generation is the most vital element in the marketing arsenal. To capture the leads, we need to incorporate different lead generation strategies that urge the user to invest in your product or services.
The rise of digital media has urged businesses to shift from the traditional means of communicating to digital advertising and marketing platforms. Lead generation and digital marketing go hand in hand and there are various ways that can help in generating leads through the world of digital marketing. Let’s find out about it all in detail.
Content
You cannot generate leads if you don’t use the right content. Yes, that’s true! Good content can be a game-changer and it can provide the users with relevant information. To generate the leads, you can add CTAs (call-to-action) on the page. If the user feels delighted by your content, then they are likely to click on the CTA buttons and get in touch with you.
Email
Well, we all know emails are the most efficient way to generate leads. Emails are a great platform to not only aware users about the product/services but also convert them into leads. Make efficient use of eye-pleasing email designs and include CTAs to get the most benefit of emails.
Ads
Advertisements are another excellent way to generate leads. The whole idea of the ads is to urge people to take action. Just try to make some transparency in the ads and deliver what you promised to the users. Make the most of ads and retarget your customers with the best only to enjoy better conversions.
Social Media
Social media is a great way to generate quality leads. By posting product or service campaigns on the posts and stories, you can showcase to the prospective customers why they should invest in your services/products. Social media offers tons of opportunities which you can convert the user to leads efficiently.
To conclude, there is no one-shot formula to get lead marketing success. Follow a strategic approach and make the most of digital marketing to generate leads.
The answer is simple. The more leads you have, the greater the probability that some of them will become your paying customers. As we have established, the process of collecting leads is called lead generation. For example: You run a small house-reno...read more
The answer is simple. The more leads you have, the greater the probability that some of them will become your paying customers. As we have established, the process of collecting leads is called lead generation. For example: You run a small house-renovation business, you have a website of your own, and you attract a certain number of visitors. One of them, asking some questions, fill out the contact form. You receive their email (a lead), later contact that person (answering the questions), and later close the sale and voila, you have a new customer! That's how you've converted the lead.
Lead generation is particularly important because it allows your business and the website of your business to create huge traffic, leading to higher sales and conversion rates. With good lead generation traffic, you create a target group for each search engineer who actively uses the internet to find and purchase a product or service.
With Google, this process has made it easier to connect with all prospects who are searching for exactly what you have to offer, and you are given the opportunity to show how different your business is and how better it is.
When potential customers actively seek solutions and your business stands out, the chance to convert from lead to customer increases dramatically. If you have a process of quality lead generation, finding the right customers for your business needs will help a lot.
Often the best way for lead generation is to use a lot of different methods or strategies so you can work out what is the best option for providing good quality lead generation. One of the frequently used strategy would be the use of chatbots for lead generation.
