Cold calls take guts and little-to-no glory at all.
For the telemarketer, it’s just part of their job, and they can’t do anything about it. For the one receiving the call, it’s just downright disruptive and again, they can’t do anything about it. Two people who are stuck in a situation both of them can’t do anything about.
The worst thing about this is that a study has even found that cold calling only has a 2.5 per cent success rate. This measly success rate means that an experienced salesperson will make one appointment or another valid follow-up per working day. This rate also assumes they make 50 calls a day and spend an average of 9.5 minutes per call. So imagine making 50 calls a day and only having a 2.5 per cent success rate?
Thankfully, technology has made it possible for businesses to let go of the ineffective “cold calls.” Today, buyers are more likely to find sellers than the other way around. Having a solid lead generation strategy can help build trust around your brand even before you talk to potential clients about sales.
What is a lead?
A lead is someone who shows interest in a company’s product or service in some way. Once a person has shown interest in a company, they’re more likely to want to hear from that company. For example, if you’ve opened a communication from a company and submitted personal information for an offer, trial or subscription, you’re likely to hear from them. This process is less intrusive than if someone called you out of nowhere asking about something you may or may not even have care about. This is what it’s like to be a lead. It’s much more tailored than cold calling.
What is lead generation?
Lead generation is about attracting prospective clients and converting them into someone who has an interest in your company’s product or service. Some examples of lead generators are job applications, blog posts, and other online content.
The Importance Of Lead Generation
If the person wants to purchase a product, they will purchase it. Simple as that. However, if the person has no interest in whatever you’re selling, trying to convince them otherwise can be annoying. The person can feel like you’re forcing them into something they don’t want to do and this can be damaging to your brand.
As such, you need to match your brand with the right customers and you can do that with lead generation.
With lead generation, you can:
- build communities of like-minded customers
- improve brand loyalty and reputation
- gather information from prospects such as needs, wants and preferences
- personalise your offers better
- promote brand awareness and recognition
- provide information about your products and features when people discover your brand.
Lead Generation is also very cost-effective. You don’t have to break the bank to implement it in your business. This is because it’s much more tailored and specific, so you don’t have to waste time and money on people who have no interest in your brand.
What Are The Different Strategies Of Lead Generation?
There are so many strategies that you can use to generate leads. Some of them are:
- Website Landing Pages
- Coupons
- Live Events & Webinars or Seminars
- Networking
- Blogging
- Vlogging
- E-mail Marketing
- Social Media Marketing
- Influencers
Steps in Lead Generation
Here are some steps involved in lead generation:
Acquire leads
You can do this by creating engaging and relevant content and promoting your brand on social media. This will help you generate traffic to your website.
Create content about your business such as:
- E-books
- Blog posts
- Infographics
- or whatever fits your brand and audience.
Then you can share the content you’ve created on your website and social media accounts such as LinkedIn, Facebook, and Instagram.
Take care of your existing leads
Getting leads is hard. As such, once you get one, make sure that you manage them to nurture your existing leads. You must take care of them as they move through the sales funnel so that when the time’s right they will purchase from you. You need to retain their interest and build a long-term relationship with them.
Here are simple steps of how you can manage your leads well.
Take care of your existing leads
- Create amazing content that catches their attention.
- Invite prospects to give you their e-mail addresses.
- Offer an incredible lead magnet to convince them to convert. Lead magnets are free items or services that you can give to attract potential customers to get their contact details. Lead magnets can be trial subscriptions, free consultations, free e-books and the like.
- E-mail your prospects regularly to stay in touch.
Evaluate your lead generation process
It’s not enough to have great content or irresistible lead magnets. You need to scrutinise your entire lead generation process. Is it as effective as possible in bringing in new leads? Does it nurture existing leads? You need to make sure your process is updated and well-organised to convert your leads into customers and retain them over time. One of the most successful ways to measure the impact of your lead process is to identify where you lose your leads and why. Once you figure this out, you can learn how to recapture the leads you’ve lost.
Many leads get lost because when they are passed on to sales, the “interest” did not develop into a desire. These warm leads can be recaptured but it will cost more time, money and effort from the marketing team. As such, it’s important to not lose them in the first place.
How do I start generating leads?
Well, first, you need to identify your target audience. Who are they? What do they do? Why do they need you? Don’t start with a broad base. Narrow it down. Do your research first.
Pick your strategy
Once you define your target audience, knowing the best way how you can reach them is next. There’s no use in having the best product or service if there will be zero interest in it. How about doing a vlog about it? Or maybe offering a free trial on it? What can it do for your target audience? No two businesses will pick identical strategies and have identical results. Know your business. Know your audience.
Collecting contact information
You can’t nurture a lead if you don’t have any contact information about them. Offer discounts or gifts when they purchase the product or service. Keep a database of the customer relationship since you’re likely to speak to these people on more than one occasion. As such, you might as well have more information about them so that you can monitor your relationship with them and tailor-fit future offers.
Newsletter
Once you’ve gotten their contact information, you don’t want to scare your prospects away by hounding them on the phone or by e-mail every single day. You want to reach out and touch base to build a connection with them but overdoing it can make them want to sever that connection. Newsletters can be a great way to build relationships without going overboard. It reminds them of your presence, and it can also serve as a way for you to highlight the products or services that you offer.
Use Social Media
It’s the digital age! Make the most out of your social media accounts. Promote your products and services on all relevant social media platforms.
The Key Takeaway
Lead generation can take some time, effort and a lot of research and careful consideration about your audience. However, in the long run, when you keep up with it properly and effectively, your business will greatly benefit from it.
When talking about sales, it’s about how many people know about your products and services. The more people who know you, the more likely they’ll buy from you. Use our guide to help you get started with your own conversion process.
Talk with your team and make sure that you get a good headstart with your lead generation process. Don’t stop testing and evaluating. The more you tweak, the more you’ll improve lead quality and increase revenue.
If you would like to discuss how Boom Now can help you with your lead generation strategy please call 0413539700 or email rebecca@boomnow.com.au
