What are the benefits of lead generation?
Lead generation is a fantastic way to attract new customers and clients who are actually interested in what you offer. There is no one size fits all method, and each company should utilise a tailored approach. In this blog, we’re answering the question, what are the benefits of lead generation?
What is lead generation?
First, let’s head back to basics and understand what lead generation actually is. Lead generation is the process of turning those who are interested in your products or services into paying customers. The lead generation process is complex and involves guiding and nurturing potential customers through various stages of the buyer’s journey.
Different online lead-generation strategies can be implemented to increase sales and visibility for your business.
A qualified lead is someone who has been identified as a potential customer who intends to buy. Qualified leads are the aim of lead gen strategies.
What are the types of lead generation?
There are two strategies you can use for generating leads, and these impact the channels used to obtain the leads. A great digital marketing agency can advise you on the most beneficial strategies for your business type.
Inbound lead gen
This form of lead generation involves encouraging users to visit the website. For example, this could be done through SEO content, blogs, forms, landing pages, social media posts and more. Each of these will be used to secure the lead into another stage of the sales funnel.
Blogs are a fantastic way to capture leads as they drive traffic and get users on-site initially. However, email marketing reminders may be more effective at turning leads into customers by enticing them back to the site. When people use the phrase ‘warm leads’ or ‘hot leads’, they refer to inbound methods to gain a qualified lead.
Social media is a popular form of inbound lead generation for many reasons. One reason for its popularity is the potential to reach many desired customers. The second reason for its popularity is that most platforms offer valuable targeting options. For example, you might target audiences based on age, location and even job title.
Outbound lead gen
Outbound lead generation is concerned with those who may already be aware of your business but haven’t made a purchase yet. These users may be targeted using PPC advertising, phone calls/cold calling or cold approaching through platforms like LinkedIn. When people use the phrase ‘cold lead’, they refer to using outbound tactics to generate interest.
Some business types may find that one type of lead gen works much better than another does for them. An agency will assess the options and the tools available to generate quality leads.
What are the benefits of lead generation?
There are many important benefits of lead generation for businesses. As marketing campaigns go, lead generation is a great way to secure more sales with high-profit potential.
Business development and growth
Aside from gaining new leads, sharing high-quality content regularly will help you to grow your business as more people become interested. Social media is a great place to build your own community and nurture key relationships. These marketing efforts can lead to higher-quality leads for your business.
Word-of-mouth marketing remains powerful, and the more people who are aware of your brand, the more people you can reach. As a result, this could mean more leads for your business.
One of the first things you should do when starting your business is identify your target markets. Once you know the audience, you can create content that resonates with them to keep them engaged and convert high-quality leads into customers.
Running a lead generation campaign can provide insight into other audiences you hadn’t previously considered. These users may be interested in your product or service, and having access to this information means you can target them better too.
Boost company revenue
A carefully crafted lead gen strategy has the power to really boost your revenue. A lead generation agency can stay ahead of new industry trends and make any necessary adjustments to your marketing strategies.
For lead generation to succeed, you must consider your target audience. This means creating valuable content that means something to them and following it up to guide prospects through the sales funnel.
Other business opportunities
Lead gen opens the door to other business opportunities. This may include meeting someone and forming a mutually beneficial partnership, whereby they refer your services to people they know and vice versa. This is all part of getting your business out there and increasing visibility.
This is often built on trust, which can also be achieved through gaining client testimonials. Most of the time, clients will be happy to leave a review of the services provided. It’s your job to decide when is the best time to request the review, and then you can share them across various marketing collateral to build your overall brand value.
Quality and improvements
The more you do something, the better you get at it. The same approach applies to content marketing. With higher-quality content, you’ll gain better leads too. As time goes on, you’ll learn the pain points of the user and the surefire ways to convert high-quality prospects into customers.
How can I implement a lead gen strategy?
Before you can start to generate leads, there are some things you must consider.
- You must have a quality website that can collect leads
- You must have a clear marketing strategy and ideas for content creation
- You must consider your landing pages
- You must consider how you can utilise online advertising to maximise growth
A lot goes into creating a successful lead gen strategy, and that’s why we’re on hand to support you. We take time to research your defined market and identify how they can be reached.
Our team of experts closely monitor all lead generation efforts to ensure you receive the best return on your investment.
Is lead generation worth it?
Yes! When done correctly, lead generation can be highly successful in targeting prospective customers, converting leads, growing your brand visibility and increasing your revenue. Whether you’re an established brand or a new business, identifying potential leads is always a good idea.
We hope this article on the benefits of lead generation has been useful. Are you interested in starting a lead generation strategy? Then get in touch with us, our friendly team is always happy to help.
Want to discuss a project with us? Speak to us now.