Have you ever wondered what the secret is to converting business proposals into sales? Despite putting forth a lot of effort to reach out to consumers, many businesses struggle to make sales. We fail to market to the correct people, which is one of the key causes.
How can your efforts at pitching to them bear any fruit if they aren’t interested in what you have to offer or just aren’t the type of person your products are relevant to? This is where Lead Generation enters the picture.
What Does Lead Generation Entail?
On the surface, Lead Generation appears to be the same as pitching your business to strangers – but with a higher likelihood of closing sales because you’re pitching to a group of people you’ve identified as possible clients. Obviously, pitching to a hundred people who may or may not buy from you is preferable to pitching to ten people who will — and that’s exactly what Lead Generation accomplishes for you!
Lead Generation will also ensure that your marketing money is spent more efficiently and profitably, with less waste – which is especially crucial for small firms that must make every dollar spent on marketing count.
Lead generation, of course, will necessitate a little more effort and study on your part. Here are a few helpful tips to get you started.
1. Organic growth and content marketing
Content marketing is a low-cost type of inbound marketing that naturally drives your prospects to your website. Did you know that 75% of B2B marketers utilize content marketing to increase lead generation?
Small businesses can benefit greatly from content marketing. Begin by creating a buyer persona that includes information such as the customer’s demographics, location, and pain issues. Now that you’ve identified your target consumers, you can concentrate on the types of material they’ll consume. Create blogs, social media posts, podcasts, videos, webinars, eBooks, quizzes, infographics, or any other type of material.
Local SEO might also help you generate more organic leads. An SEO audit and optimization should start with your website, and localizing your SEO to the locations where your products/services are most likely to be sold is a good idea. This could be any location on the planet or just a few specific geographical areas. For example, in general SEO, “trusted first-aid training” would be a good example. The phrase “trusted first-aid training in Atlanta” has been localized.
Google My Business allows you to control your Google search presence as well as your Google Maps location. Make sure to enter accurate information, verify your location, upload images, and respond to reviews while registering on GMB.
2. Invest in paid advertisements
Investing in sponsored advertisements may not always be a viable option for small businesses, particularly when they are first starting out, due to budget limits. Small firms, on the other hand, can benefit from a well-planned paid marketing campaign that generates high-quality leads.
Keep in mind that the marketing media you choose is determined by the product you’re selling. If you’re selling a B2C product, for example, Instagram is a great option because it’s very visual and allows you to truly show off your wares. If you’re offering services, Instagram isn’t the best place to be.
You can define settings for your advertising on Instagram, such as the location you want to target, the number of people you want to target and for how long, and so on. You can set the mix that you think will work best for you using your discretion. Instagram will then use these parameters to share your ads with only those people who meet the criteria. As a result, the people who contact you may be more likely to be interested in your offerings.
Influencers can also promote your company on their different social media networks. Today’s restaurants are brilliantly utilizing the power of influencers. Fans or followers of influencers are more likely to trust their recommendations than a direct advertisement from a company. Thanks to influencer marketing, this, combined with beautiful food photos, has helped restaurants attract more customers. In fact, influencer recommendations are trusted by 49 percent of consumers!
Where you put your ad is all about relevance — whether it is Google ads, YouTube ads, print ads, emails, and so on.
You must also consider the demographics, geography, season and so on to build a successful ad campaign – and most of the paid advertisement platforms like Instagram and Facebook let you do that for much lesser when compared to traditional forms of advertisements such as print, television and outdoor advertising.
3. Leveraging social media presence
Social media buzz keeps increasing, there are presently 3.78 billion active social media users.
You may join almost all social networking platforms for free. As such, creating engagement on these platforms will almost cost you nothing. You can host live sessions, contests, giveaways, arrange polls, and build personal relationships with your followers and connections to convey your brand’s message.
Communities of common interest are fertile grounds for generating high-quality leads as these are spaces where the most likely of buyers are going to be present. It is also highly likely that these communities will have members who are well-informed about the kind of services or products you are offering. As a result, you won’t have to work hard on educating them on what you are offering.
Another way that social media can be leveraged is to use a personal brand image to create engagement. Founders who have developed a personal brand image as a result of their expertise in certain areas, events they have hosted, research they have conducted, technologies they have pioneered, and so on will have a certain set of people with whom they can readily engage. This also creates a community that can grow to include more and more people with similar interests – all of whom could be potential leads for their enterprises. A personal link to the community can be really beneficial!
4. Marketing via email
Email marketing is low-cost, with a return on investment of $42 for every $1 spent! Surprisingly, 77 percent of firms have reported click-through rates ranging from 0% to 10%! This clearly proves that, while email marketing is not dead, in order to produce leads, you must send the correct emails to the right prospects, at the proper times, and to a sizable email pool.
Away, a luggage company, began modest but has grown to be worth $1.4 billion thanks to its email marketing. They don’t simply send a lot of text; they also include a lot of appealing, high-quality pictures in their emails. What’s more, they also include trip images of their genuine clients in their newsletters, which is different and unique. Furthermore, they answer to each and every email they get. As you might expect, they’ve turned email into a tremendously dynamic area, creating something akin to a community over email.
So, if someone tells you that email is dead, remember that it is the obsolete email habits that are dead, not email itself. Utilize today’s hottest trends and “in-things” to maximize the potential of this basic and inexpensive tool.
5. WOM-based referral programs
Existing clients might serve as effective marketing ambassadors for your company. In fact, 9 out of 10 clients are more likely to trust recommendations from people they know than typical marketing pitches. Using success referral tactics, a number of firms have grown to be quite successful.
Airbnb’s most recent referral program is a textbook illustration of how a strong referral system should operate. Their original referral scheme was straightforward: for each successful booking, each email referral netted both parties a set of credits. The new referral system was more personalized: Airbnb included a photo of the referrer in the referral email and optimized it for mobile devices, resulting in a 300 percent increase in reservations!
Don’t skimp on what you have to offer when it comes to referrals. Remember that paying commissions and losing a small portion of your profit margins now will be well worth it in the long run.
Last but not least,
Keep in mind that not all lead generation strategies work for everyone. What works for you is very dependent on the kind of your business, target audience, geographic location, demographics, and other factors. It’s possible that you’ll need to employ more than one method to achieve the best outcomes.
Above all, remember to retest your strategies on a regular basis. When in doubt, experiment with different solutions. This is the only way you’ll be able to find a lead generating plan that works for your company in the long run.