Learn what lead generation is and how it can help you make sales for your business using digital marketing with this first-step guide to lead generation strategies that will help you generate new leads for your company
Your first steps to mastering huge Lead Generation in Business
91% of marketers say that lead generation is their most important goal according to Ruler Analytics’ general lead generation statistics.
No leads, no money, no business!
It’s as simple as that.
Generating leads, however is not that simple and it can be very daunting and soul destroying trying to dig into the complex world of lead generation strategies.
Our mantra at NourseMen is it’s all about the experience…how we sell is how we win.
Once you nail down your “company’s story” and you are effectively able to give the right voice to your marketing strategies, the interest in your company will be endless and your leads will start generating themselves.
This is the ultimate goal, having customers pour themselves into your sales funnel without you having to actively chase after them.
The first thing you need to know about lead generation
What exactly is a Lead?
The key to successful lead generation is creating content that is interesting and relevant to your target audience. If you can capture their attention and provide them with value, you'll be well on your way to generating new business.
However, simply generating leads is not enough; you also need to nurture those leads and turn them into customers. By providing quality content and outstanding customer service, you can turn leads into lifelong customers who will continue to support your business for years to come.
What you need to know about lead generation
Lead generation is the process of generating interest in a product or service for the purpose of developing a sales pipeline. It's an important part of the sales process for businesses of all sizes, and it can be done in a variety of ways.
Traditional lead generation methods include advertising, public relations, and direct marketing. More modern methods include online lead generation, which uses digital channels such as website forms, search engine optimization, and email marketing. No matter what method is used, the goal is always the same: to generate new leads that can be converted into customers.
Why is it important to generate leads
Lead generation is important because it helps businesses move potential customers through the sales funnel. By generating leads and getting them interested in what you have to offer, you're more likely to close a sale. And the more sales you make, the more successful your business will be. So, if you're not already doing lead generation, now is the time to start. It could be the key to taking your business to the next level.
What types of Digital Marketing can you use for Lead Generation?
Use Content marketing for lead creation
One way to generate leads is to use content marketing to. You can offers potential customers something of value in exchange for their contact information. This content can take many forms, such as an ebook, a white paper, or even a simple PDF guide. Whatever the format, the goal is to offer something that the potential customer will find useful and relevant to their needs.
The content should be easy to consume and understand; if
it's too long or technical, potential customers will simply move on.
Use Email marketing for good lead generation
Email marketing is a powerful tool that can be used for lead generation. By sending targeted emails to potential customers, businesses can introduce themselves and their products or services.
Email marketing can be used to build relationships with customers and encourage them to make a purchase. To maximize the effectiveness of email marketing for lead generation, businesses should focus on developing a strong list of subscribers. They should also create compelling content that offers value to the customer.
There are many different ways to use email marketing and automation is one of them. to further improve the efficiency of your email marketing efforts.
Blogging for lead generation
Businesses of all sizes can benefit from blogging. By regularly publishing high-quality content, businesses can attract new visitors to their website and generate leads that can be converted into sales. In addition, blogging can also be used to build relationships with customers and provide them with valuable information about your products or services.
While there are many different ways to use blogging for lead generation, the following tips will help you get started:
1. Identify your target audience. In order to generate leads, you need to identify who your target customer is and what they are interested in. Once you have a good understanding of your target audience, you can begin creating content that appeals to them.
2. Use keywords wisely. Keywords are important for getting your blog post noticed by search engines. However, it is also important to use keywords wisely so that you don't turn off potential customers with too much marketing speak. Try to focus on using keywords that are relevant to your topic and that will be of interest to your target audience.
3. Offer something of value. When you're asking people to subscribe to your blog or provide their contact information, make sure you're offering them something in return. This could be a free e-book, a discount on your products or services, or access to exclusive content. Whatever it is, make sure it's something that will appeal to your target audience and encourage them to sign up.
4. Publish high-quality content regularly. One of the most important aspects of lead generation is consistency. You need to publish high-quality content on a regular basis in order to attract new readers and keep them coming back for more. If you're not sure how often you should be posting, start with once a week and then adjust as needed based on feedback from your readership.
5. Promote your blog posts through social media. Social media is a powerful tool that can help you reach a wider audience with your blog posts. Be sure to promote each new post through your social media channels and encourage followers to share the content with their own networks.
By following these tips, you can start generating leads!
You can generate leads through Social Media marketing
Social media has quickly become one of the most popular marketing channels for businesses of all sizes. And it’s easy to see why: social media offers an unprecedented way to reach and engage with potential customers. Not only that, but it’s also an effective lead generation tool. In fact, businesses that use social media for lead generation see a conversion rate of 13%, on average, compared to the 2% conversion rate of traditional marketing methods.
There are a number of ways to generate leads through social media. One effective strategy is to offer something of value in exchange for contact information, such as an e-book or white paper. You can also use social media to build relationships with potential customers by providing helpful information and engaging with them on a regular basis. In addition, you can use social media ads to target specific demographics and interests with laser precision.
By utilizing social media for lead generation, you can quickly and easily connect with potential customers who are interested in what you have to offer.
Generate leads by using Product Trials marketing
If you're looking for a way to generate leads for your business, product trials can be a great option. By offering potential customers a free trial of your product or service, you can get valuable feedback and information while also building interest and excitement for your business. Plus, if you do a good job with the trial, you'll have the opportunity to turn those leads into paying customers down the line. Of course, before you start offering trials, it's important to do your research and make sure that it's the right move for your business. But if you think product trials could be a good lead generation strategy for you, here's how to get started:
1. First, make sure that you have a solid plan in place. What kind of trial are you going to offer? What are your goals for the trial? What kind of support and follow-up will you provide? Having a clear plan will help you stay focused and make sure that your trial is successful.
2. Next, reach out to potential customers and let them know about your offer. This can be done through online advertising, social media, word-of-mouth marketing, or any other method that you think will reach your target market.
3. Once people start signing up for your trial, it's important to provide an excellent experience. Make sure that your product or service lives up to the hype and that you provide excellent customer service throughout the duration of the trial. This will help increase the chances of converting those leads into paying customers.
4. Finally, after the trial is over, follow up with each customer to see how they liked it. If they were happy with the experience, try to close the sale; if not, find out what went wrong and adjust your offer accordingly. Product trials can be a great way to generate leads for your business - but only if they're done right. By following these steps, you can set yourself up for success and make sure that your next product trial is a success.
Using Referral Marketing to get leads
A study from Nielson, a global leader in audience measurement found that personal recommendations had an 81% vote of confidence, compared to its nearest rival - consumer online opinions at 58% when it came to trustworthiness.
Here are some tips on how to use referral marketing to your advantage:
1. Identify your target audience and make sure you are providing them with valuable information that they can use.
2. Offer an incentive for customers to refer your business to their friends and family. This could be a discount on their next purchase, or a free service.
3. Make it easy for customers to refer your business by providing them with referral cards or links that they can share.
4. Provide excellent customer service so that those who are referred to your business have a positive experience.
It is an extremely powerful tool and one that we personally use a lot.
Word of mouth is key in winning business.
Jono, our CEO makes sure to check in with previous clients every year, asks them how they are doing and if they need help with anything. He also makes sure to ask if they have any referrals that they can pass on.
Ads and Retargeting marketing for lead generation
Ads and retargeting are powerful marketing tools that can be
used for lead generation. When used together, they can help you reach a wider
audience and generate more leads.
Here’s how to use retargeting for lead gen:
1. First, create ads that are targeted to your ideal customer. Make sure the ads are relevant and offer something that your target customer would be interested in.
2. Next, use retargeting to reach people who have already shown an interest in your product or service. You can do this by placing a pixel on your website and then running ads that are targeted to people who have visited your site. This will help you reach people who are more likely to be interested in what you have to offer.
3. Finally, make sure to follow up with your leads. Send them information about your product or service and offer a special deal or discount if they purchase from you. You can also use email marketing to stay in touch with your leads and build a relationship with them. By using these techniques, you can generate more leads and close more sales.
I hope that this explains a little more about the different types of lead generation using digital marketing channels.
If I’ve missed anything out or you would like to ask a question, scroll down the bottom of the page and leave a comment. I would love to help.
How to classify your leads
All leads are not the same and as your company grows it is going to become important to know where your leads are coming from, so that you can focus your attention on the part of your business.
Marketing Qualified Lead (MQL)
A marketing qualified lead (MQL) is a prospective customer who has been identified as having a higher likelihood of becoming a paying customer. MQLs are generated through a variety of marketing activities, such as website visits, content downloads, or interactions with business on social media.
Once an MQL has been identified, businesses will typically offer them a special offer, such as a free trial or discount, in order to encourage them to become a customer.
To further qualify an MQL, businesses will often direct them to a specific landing page on their website that is designed to convert leads into customers.
By definition, an MQL must be more qualified than a general lead, but they are not yet ready to be considered a sales qualified lead (SQL).
If the lead meets your criterion for a sales qualified lead (SQL), they will be passed along to sales. MQLs are an important part of the sales process, as they help to identify potential customers early on. By nurturing these leads and evaluating their readiness, you can better qualify them for conversion into customers.
Sales Qualified Lead (SQL)
A Sales Qualified Lead (SQL) is a lead that has been determined to be ready for the sales process.
This means that the lead has shown an interest in your product or service and has the potential to become a paying customer.
The higher the quality of leads that are generated the more likely that they are to be converted into customers.
Once you've generated a list of leads, you'll need to qualify them to determine which ones are ready to be passed on to sales.
There are a number of criteria you can use to qualify a lead, but some common indicators include the lead's budget, their timeline, and their level of interest.
If a lead meets all of your criteria, then they can be labelled as an SQL. Once you have an SQL, you can pass them on to your sales team so they can start working on turning them into a paying customer.
Product Qualified Lead (PQL)
A Product Qualified Lead (PQL) is a lead that has been determined to be more likely to become a paying customer, based on engagement with your product.
Typically, PQLs have reached a certain level of product usage or have shown other signs of interest in your product.
For example, they may have visited your pricing page, attended a product demo or have had a trial with your product. PQLs typically possess the budget and authority to make a purchase decision.
They are usually well entrenched within your sales funnel and are further along the in the buying process compared to the other leads.
Service Qualified Lead (SQL)
At its core, a Service Qualified Lead (SQL) is a prospective customer that has been determined to be likely to have a need for the products or services offered by a business.
This determination is usually made by customer service representatives (CSRs) through interactions with the lead, such as phone calls, emails, or live chats.
These would usually fall under the category of a client that has been using your services or products and want to upgrade.
Once a lead has been determined to be an SQL, they are then typically passed on to the sales team for further follow-up. While the criteria for what qualifies as an SQL can vary from business to business, there are some general characteristics that are often used to make this determination.
These include whether or not the lead has expressed interest in the product or service, whether they have the budget to purchase, and whether they have the authority to make purchasing decisions. By definition, a SQL is not a customer, but rather a potential customer that has been determined to be worth pursuing by the sales team.
How to Qualify a Lead
There are a number of ways to qualify a lead, but source and business type are two of the most important factors to consider. For example, a lead that’s source is generated by an online ad is likely to be less qualified than a lead that is generated by a personal referral.
Similarly, a lead from a small business is likely to be less qualified than a lead from a large corporation. However, even within these broad categories, there can be significant variation. For example, a lead from a small business owner who has been referred by a friend is likely to be more qualified than a lead from a small business owner who found your company through an online search.
It is always important to consider all of the available information when qualifying a lead.
What criteria is used to qualify a lead?
Once a lead had been generated, it must be qualified by determining if the customer is actually interested in what the business has to offer.
This is typically done through a phone call or meeting, during which the salesperson will gather information about the customers’ needs and whether thy match up with what your business can provide.
If the lead is qualified, it will be passed on to the sales team for the further follow-up.
We always use the acronym :
What does BANT mean in generating leads?
: Is there a budget in place to purchase the good or service?
: Does the contact have purchasing authority?
: Is there a business challenge that the good or service solves?
: When is the product or service needed? Is this known?
Lead scoring is the process of assigning a numeric value to a lead in order to qualify or prioritize them.
The criteria for lead scoring can vary depending on the business, but common factors include demographic information (such as job title or location), online behaviours (such as website visits or newsletter signups), and engagement with marketing communications (such as opening emails or clicking links).
Lead scoring can be used to identify hot leads who are ready to buy, and also to segment leads so that the client can be effectively marketed to. By taking the time to score leads, businesses can save time and money by focusing their marketing efforts on the most promising prospects.
As an example, NourseMen worked with a company that had various inbound marketing channels and after a short 5 months it was becoming challenging to know which leads the sales team should focus on first.
We developed a simple lead scoring methodology that helped focus the sales team and served up the top leads first and managed to increase the sales teams closing rate by 28% over the preceding 4 months. The company managed to add two account managers to the team and we are waiting to see where the next growth is going to come from.
Example of criteria used for lead scoring
Every morning, the sales specialist would score the incoming leads with the following points.
Every Friday morning the marketing team and sales team would get together and have a look at the quality of leads that came through for the week. They would discuss their next steps, their wins, discuss points to improve and what projects they would need to focus on the next week.
The formula used for scoring a lead
- Existing client in database – 15 points
- - Location: Auckland – 10 points
- Location: New Zealand – 5 pints
- Signed up to newsletter – 10 points
- Demographic – male – 5 points
- Demographic – 22-35 – 5 points
- Demographic – 35-44 – 10 points
- Demographic – 45-55 – 5 points
- Company size – 2 points for every 10 employees
- Email engagement – newsletter signup – 10 points
- Email engagement – open rate – 2 points for every 10% of email open rate
It was a long list, but worthwhile, the senior sales team got assigned a higher percentage the high lead scoring leads and the closing rate drastically increased.
Our next step is to get the company onto a CRM (Customer Relationship Manager) where lead scoring and workflows are automatically generated and the sales team are automatically allocated the most important leads first.