A lead is any potential that has indicated that they are interested in your product and services. Leads can come from various sources where you are actively promoting your products. This could be social media, word of mouth from other clients, a website, or through phone calls, among other sources. The process of acquiring new leads for the business is called lead generation. It usually involves various actions and interactions with the potential market to spur the interest in your products. Once you have leads, you can then take them through the process of turning them into customers. Below are a few tips for acquiring new business through lead generation.
Why is Lead Gen Vital for Your Business?
Your business needs customers to cover its costs and make a profit. Without a way to convert strangers to people interested in the products, there is a risk that the existing ones will dwindle and the company will struggle to remain afloat. Second, the business needs a large pool of leads from which it would get customers. Given that no everyone will buy from you, you need to have many leads so that a substantial number actually converts to be your customers. Increased business is vital for your financial and growth goals.
Types of Leads
There are various types of leads depending on the method the organisation used to qualify them or the stage in the product lifecycle that they are on. Knowing what category each of them belongs helps you find the best way to convert him or her to a customer. Here are the most common types.
Service Qualified Leads
These prospects have indicated that they would like to pay for the service. They are common in service offerings where there is a trial period. They can also be existing customers that would like to upgrade the service they are being offered.
Marketing Qualified Leads
These contacts have engaged the marketing team at some point, but it is not yet time for them to receive a sales call. Here is an example, they may be prospects that signed up for a newsletter, visited an exhibition stall, or filled out their contacts on a landing page. Some work needs to be done before they can get offers.
Sales Qualified Leads
These are prospects whose actions show that they are interested in your products. For example, they may have called to inquire about a product or asked for a quote on a particular service. This indicates that they may become customers in the near future.
The Lead Generation Process
Generating leads is usually the second process in the inbound marketing process. You must first attract strangers to your business and then convert them into leads. Therefore, the generation process falls within the broader marketing strategy and is an important point in converting members of the potential market into customers. Here are the basic steps.
Attracting Visitors
You start by attracting a visitor to the business through one of the many marketing channels. It could be social media, a blog, a website, or the mass media. You need to take up SEO best practices to rank favourably in the relevant search results. You could also use paid advertising avenues to attract products. These include PPC services, social media ads, and banner ads, among others.
Convert Visitors to Leads
After giving customers information about your business, you need to tell them what to do. This is called the Call-to-Action (CTA). You may ask them to message you, fill a form, contact you, or get a newsletter. The CTA is designed to collect customer information in exchange for something of value to the client. When you hire PPC services, some of these offers are included in an ad to attract customers and ease their conversion process. In most cases, customers fill a form and get an offer, such as an ebook, course, or a template. When the customer agrees to share their information, they are already a lead. They just need to be taken through the buying decision-making process to convert to customers.
A few things stand out in the lead gen process. First, you should have engaging content that attracts your visitors and spurs them to take action. Second, you should work on your SEO so that visitors can find you. Third, the offer you give visitors must be of value so that they can be willing to share information in exchange for the benefit. You should also have a clear lead conversion process to keep them interested all the way to the buying decision.
