How Will You Define Lead Generation?
Whether you are a small or a big business you all depend on leads for your business growth. Generating leads in numbers is substantial for carrying out your business. If you are interested in knowing about Lead generation, why not define lead generation first.
What is the lead? Lead is a person who is interested in your product. To help you come up with impactful ideas for lead generation let us define lead generation at the most basic level. It’s the way of attracting people to your products and getting their contact information. Whatever methods you use to collect leads by this means are called lead generation strategies.
However, how can you develop a person’s interest in your company and make them want more information from you? The buying process has now changed and hence marketers have to redefine their strategies to generate leads. There is a need to have a more strategic definition of lead generation.
Why not see how they define lead generation?
Most of the times, when people contact your brand, it is only because they know a great deal of information about you. This is because the world is changing a lot because upcoming new technologies and people know much about your brands even before you reach them. There are certain ways which can help you know who really are interested in your brand. We will define lead generation methods below that are very popular.
Generating leads is not easy and it is also not that difficult. You need to know different lead generation methods and along with that all the lead generation channels and key metrics to rate your performance. Lead generation is the process of finding people who could become your customers in the near future.
A simple example of lead generation could be meeting many people at the conference and getting email ID from them. Signing up for your email newsletter or responding to your CTAs and giving contact information are a few examples of lead generation. Time and again when you post on social media, your followers can post a comment. Now as these can be considered as your leads, you might think lead generation is easy but it is not so.
When it comes to talking about lead generation channels, there is mainly inbound and outbound. Both channels focus on getting more leads. However, outbound focuses mainly on using billboards, printing ads, television ads, radio ads, etc methods. You can buy a list of leads and then start with cold calling or direct mail.
In inbound methods, you contact leads by creating compelling content. This content can be on your own website which can be optimized for SEO. When you compelling content which catches the eyes of your customers, you start seeing the results. In inbound lead generation, you educate your clients by means of carefully planned content.
Inbound vs. outbound difference is nicely given by freshsales as shown in the following email.
In B2B lead generation, your leads can be classified based on three funnel stages that are there.
Businesses don’t make decisions on hunches rather they base it on careful thoughts and data. Hence, B2B inbound marketing consists of 3 stages of sales funnel, namely Top Of the Funnel (ToFU), Middle Of the Funnel (MoFU), and Bottom of the funnel (BoFU).
When they are at ToFu, leads generally don’t have any idea about what your offerings are. You can use blogs, eBooks, and guides at this stage. At MoFu, your leads know about you and they are comparing your offerings with your competitors. At BoFu, leads don’t need to be educated, but they are for a demo, trial, or discount offer.
What are the ways to generate leads online?
- Content marketing – Content in different formats (Blogs, infographics, videos, case studies, white papers, etc) can be produced which can become the primary channel for lead generation.
- Using emails you can have a one-to-one conversation with your leads and you can also use social media channels like Facebook, Twitter, Instagram, Snapchat, etc. for generating leads.
- Creating webinars on relevant topics along with influencers can help you greatly as they will share their email IDs when signing in for webinars.
- PPC ads are also useful in generating leads as they use keywords that are relevant to your target audience. Banner ads and display ads are effective especially if use illustrations and animations in them.
After you have done when it’s time to look for the results, having a look at following metrics can help you greatly –
Look for the website visits and you can see from what source they have come. This can help you understand which lead generation method works for you the best.
This is the percentage of clicks on your CTAs.
CTR= (Number of clicks on CTA/Number of visitors on a landing page or ad) X 100
ROI (Return on Investment)
This is the most important metric as it indicates the percentage of profit on the total investment.
To know more about how to define lead generation please read our blog or comment in the below section.