The Internet includes brands competing for a limited pool of consumers and those people’s expendable incomes. Figuring out how to effectively generate leads can mean the difference between a site that only gets traffic and a site that generates revenue on a regular basis. Lead generation isn’t new, but today, companies are developing new ways to reach those leads.
The data you use to attempt to generate leads should be accurate and current. About 25 to 30 percent of available data becomes outdated every year, which means it takes a lot of work and study to figure out what current data for your target audience is. If you want the leads you gather to be ones that might result in a sale, you must invest the time into doing your research about who your audience is.
There are many factors that impact lead generation. Here are six important factors that will get you started as a website owner.
One factor of lead generation you should consider is the cost to generate each lead. It is important to look at the average return on investment (RoI) of different lead generation methods. Perhaps search engines drive a lot of traffic to your site, but those visitors are not as targeted as you’d like and don’t convert into customers. Is there a more effective place to focus your efforts?
Takeaway — Because driving leads to your website is an expensive endeavour, make sure you have a clear focus and call to action that drives conversions.
2. Current Customer Retention
The likelihood that you’ll make a sale to a current customer is as much as 70 percent, while the likelihood that you’ll sell to a new lead is only 5 to 20 percent. If your entire focus is on lead generation, then you’re missing out on a lot of sales. While it is important to acquire new customers, you also need to keep the customers you already have.
Takeaway — Take the time to survey your current customers to find out what kind of experience they report for your site. If you can improve your overall customer UX, then you’ll not only keep the customers you have but attract new ones.
3. Social Media
Social media is a great place to invest your lead generation time and dollars. Sixty-six percent of marketers who spent as little as six hours a week on social media marketing saw results in lead generation. One of the first things you should do to drive more leads to your business is to create a social media marketing schedule and stick to it.
Takeaway — How does your site incorporate social media strategies? It should be easy for site visitors to share articles and information from your site on their own social media accounts.
The typical consumer constantly sees ads and promotions. If they turn on the television, there are countless commercials and product placements. If they drive down the street, there are billboards, ads on the radio and businesses with large signs. Consumers today are also faced with ads anytime they open their email inbox, go onto social media or search for a topic. If your lead generation tactics don’t provide relevant information to the consumer, then you’re probably wasting your time.
Takeaway — Make sure your site ties into the topics that your audience seeks answers to. If you can fulfill a need, then the consumer is more likely to become engaged with your website.
5. Lead Management
A lead doesn’t do you much good if you don’t have a process in place to follow up with that lead after the first contact. You must start a conversation the lead will remember and take the time to nurture that lead if you want to turn them into a customer. What you do with the lead after you collect the lead is almost as important as the initial traffic to your site.
Takeaway — Have a plan in place for what you’ll do with your leads once they fill out your initial forms and indicate an interest in what you have to offer.
6. Drive Quality Leads
Yes, you need leads, but you need quality leads. You must have something of value to offer them before you attract high-quality leads. Take the time to focus on building great content first, and then figure out how you can use your site to drive sales and finally focus on driving traffic to your site. If you attempt to drive traffic to your site before you have something to offer those people, you’re wasting your efforts.
Takeaway — Consider quality content before you worry about how many leads you’re attracting.
Lead Generation Factors
The six factors listed above along with every other aspect of how you present yourself to the consumer all combine to drive sales on your site. Lead generation is only a small part of the equation that adds up to success for your website.
Take the time to pay attention to all the details, both big and small, and your leads will be high-quality leads who purchase from your brand time and time again.