Every business has heard the term ‘generating leads’ countless times. There is a reason for it; in today’s digital world, the online marketing strategy of a business and its prosperity all depends on the lead generation process and then converting these leads to customers. But, how can a business determine if they are generating the right amount of leads for themselves? The simple fact is that leads are not going to generate on their own. If you want your marketing to be a success, you should know how much effort and investment is required and what you can expect from them.
The problem is that there is a massive number of tools available for marketers these days and it is impossible to even try to use them all. Therefore, it is best for a business to have a plan for their marketing strategy, which starts from the research phase and leads to the end goal. The steps for getting leads are as important as converting the leads into customers. Listed below are the 4 steps that can help you in generating the most leads to reach your target market:
Step 1: Create a high-quality database of prospects
This should be understood, but a number of businesses decide to cut corner by purchasing lists. Bear in mind that your lead generation is only as good as the data used for creating them. Therefore, you need to develop a high-quality list of prospects. These days, professional social networks like LinkedIn have proven to be very useful for this purpose. Other networks like Twitter and Facebook can also come in handy. You can use software tools for targeting and gathering contact information of prospects and ensure that it is a constant and ongoing process.
Step 2: Understand what constitutes a lead
It is very important for a business to be aware of what constitutes as a lead in order to ensure that the highest quality leads are not only generated but passed off to the account executives. How can you determine if the lead is really a lead? You need to understand that the lead should be someone who falls in your target market i.e. who is interested in your product and is part of the demographic for whom you have designed your offering. In addition, their level of interest also determines if they are a good lead. Yes, having a high volume of leads is a good thing, but if they are weak, then it is no good because it wastes time.
Step 3: Check the right key performance indicators
The best way of refining your lead generation process is when you define and closely track the right key performance indicators and metrics. This shows you how well your efforts are paying off in generating leads and also turning them into customers. Some of the KPIs you need to check include your cost per lead, conversion rate of emails to a lead and open rate of emails amongst others. There are plenty more and tracking these metrics helps you in improving your lead generation efforts.
Step 4: Never stop testing
This has been repeated a lot of times before, but it needs to be said again. Testing is important to see if the leads you are generating actually convert and if the entire process is worth it. The digital world changes constantly and it is essential to keep up to prevent competitors from moving ahead. You not only need to track the metrics, but you also have to test the elements affecting them to see if they really are generating worthwhile leads.