When it comes to marketing there are so many ‘tricks of the trade’ to know about, but which methods actually work? From pay-per-click online advertisements to content marketing and email marketing, it’s difficult to keep up with the latest trends. Each marketing technique is designed to either boost website traffic or increase conversions, which will hopefully trickle down into higher profits. So where does lead generation fit into a marketing and sales strategy?
What is Lead Generation?
Lead generation is the term used for identifying potential customers to contact, who are likely to be interested in your products or services. A lead is somebody who has indicated some form of interest with either your company or the things you sell. If you think about the buying funnel, a lead is one step ahead of a visitor and one step behind a customer.
It is easier to take a lead further down the buying path than a stranger, so therefore using lead generation as a sales tactic makes sense.
The perfect sales lead will differ from company to company – it depends on a range of factors. It’s important to establish what a great sales lead is and how you can attract these people to your business.
Once you have generated some leads it is time to start contacting them to try and close the sale. Although this is a form of outbound marketing it is more welcomed, because the individuals have already registered an interest. Leads can be contacted through email marketing or telemarketing, depending on the data held and their contact preferences. Both forms of communication have their advantages and disadvantages, so it may be worth trying both.
Lead Generation = Business Growth
Without leads, you will struggle to make sales and your business won’t last long. Investing in lead generation tools or specialist marketing and research agencies can boost your ROI – and leave your employees free to focus on sales and customer service, ensuring these new customers become loyal customers. A fundamental element of growing a business is expanding the customer base, and this is done through lead generation.
There are many other marketing strategies which feed into lead generation and can improve conversion rate. Build relationships with prospects through email newsletters and social media, and offer promotions on your website in return for contact details. By working hard on generating leads and closing sales, your business will grow and prosper.