5 Things You Need to Know About Lead Generation
With a strong lead generation marketing campaign, you can effectively target new clients and turn leads into sales from the very beginning
Here are 5 things you’ll need to know in order to get to get lead generation marketing right.
1. What is lead generation marketing?
Put simply, lead generation is the process of obtaining sales leads. It’s essentially the first step to getting your prospective client interested and engaging them to such a level that they’ll want to know more.
A B2C or B2B lead generation marketing campaign will effectively target the type of clients who’ll be interested in buying from you, inform them of your product or service and then actively engaging them in a dialogue. It can be a time consuming – and sometimes costly – process but should form an essential part of any successful business plan.
2. What do you want to achieve?
When setting out on your lead generation marketing campaign, it pays to be clear about what exactly you want to achieve. You should have an understanding of your target demographic, your USP (Unique Selling Point), and why customers will find your product/s or service/s attractive. You should also have some targets in mind but make sure they are realistic as well as ambitious.
Remember that a very successful lead generation marketing campaign will deliver something in the region of a 3-5% conversion rate. Sounds tiny but, if you’re targeting a high number of potential clients, it will still give an excellent ROI.
3. How can you achieve it?
There are many ways in which you can generate sales leads. It’s ideal to choose a combination of channels, depending on which is most suitable for your particular business.
Here are the most common:
- Advertising and PR
- Direct mail – including email campaigns
- Websites – including blogging and SEO
- Social Media
4. Who should you approach?
Unless you have the expertise in-house, you should seriously consider using marketing professionals to do your lead generation for you. Budget considerations will obviously dictate this (see 5) but your primary concern should be getting people on board who know their stuff.
You can approach marketing companies who offer the whole package or seek companies who specialise in a particular service, depending on the area and level of expertise you need. Whatever you choose, you should be fully involved in the process as your lead generation provider will need to know as much about your business as possible in order to do a good job.
5. How much should you spend?
This is the sticking point for many companies and is an area that requires some perspective. The fact is that good marketing professionals don’t come cheap. Ultimately, a good marketing professional will know how to target your clients effectively and deliver a good ROI, so it’s a price worth paying. As the great Red Adair once said, “If you think hiring a professional is expensive, wait until you hire an amateur.”
Once you’ve got your lead generation marketing campaign up and running, you should start to see enquiries coming in fairly quickly. The trick is to turn that lead generation into sales, and that’s usually down to you or your sales team. After all, you know your business better than anyone and, especially if you’re providing a service, customers prefer to speak to someone directly responsible before they make a purchase.
Whichever way you go about it, a lead generation campaign is integral to increasing your bottom line.
As markets become more competitive, word of mouth is no longer enough. It’s getting your voice heard above the din that makes all the difference.
Image Courtest of renjith krishnan / FreeDigitalPhotos.net.