You can’t run a successful business without a loyal consumer base. Establishing strong customer relationships is one of the core strategies behind solidifying your brand and boosting sales. However, onboarding clients can be challenging, especially when starting out in the competitive corporate sector.
Through this marketing process, you can generate leads and expand your company by targeting a specific audience. Statistics show that lead generation advertising spending is expected to reach $3.2 billion by 2023 in the U.S. alone. How can you create a plan to make the most of your marketing content? Keep reading as we explain what lead generation involves, different lead types, and some tips to implement it effectively.
Table of Contents
What Is Lead Generation?
Lead generation is the act of inducing and capturing an individual’s attention towards your product or service to increase your clientele and revenue ultimately. Lead generation incorporates mediums like digital and social channels to promote a brand and bring in interested consumers.
Types of Lead
Now that you know what lead generation is, let’s look at some different kinds of leads so you can determine which one would align seamlessly with your marketing strategies and resources.
1. Sales Qualified Lead (SQL)
SQLs are leads that indicate they are interested in purchasing your product or service through their actions. For example, a person who fills out a form or sends an email to attain information that’ll enable them to take the next step and become a paying customer. SQLs are prospects ready to contact your sales team, but they could still be comparing what you offer with your competitors. They’re considered very hot leads, and you should pursue them without delay to avoid losing their favor.
2. Service Qualified Lead
These leads are customers or prospects who’ve already reached out to your service team and let them know that they would like to be a client. Suppose you inform a streaming service representative that you wish to upgrade your subscription. In this case, you are a service-qualified lead, and the representative will direct your request to the appropriate sales team member.
3. Marketing Qualified Lead (MQL)
MQLs actively search for solutions that are helpful to them. You can identify them by paying attention to their activity on your website or digital content, for instance, downloading case studies, attending webinars, or watching videos on how your products or services work. Since they’re focused on learning about your brand, you need to nudge them in the right direction and convert them into prospects.
Send them an email or have an enlightening conversation. If you think the MQLs are ready, you can present them with a demo or deliver a presentation. However, remember that not all of them will use your solutions, so remain persistent and keep following up with emails.
4. Product Qualified Lead (PQL)
Product qualified leads are prospects who use your products and have a good experience with the solutions, pushing them to indicate that they are considering becoming a regular customer. And also they are usually generated when companies supply free, limited product versions or a product trial period.
If people like the samples, they are offered upgrade options, and this is when the sales team sweeps in to attempt client conversions.
A customer who tries your test piece and proceeds to ask about features that can only be used upon payment is an example of a PQL.
Lead Generation Strategies
In this section, we’ll provide some tips on effectively practicing lead generation.
1. Live Chat Engagement
Most individuals don’t make a purchase blindly. They’ll visit your website and look for a section where they can place their queries. Live chat is not only effective for generating leads, but it also makes connecting with your website’s visitors simple and easy. You can answer a prospect’s questions immediately in a live chat session and capture their interest in your business.
Having chatbots for your website will automatically collect leads, triggering a chat widget to emerge at the right time and asking visitors whether they’d wish for additional information. You can utilize a seller-centric platform and automation workflows to simultaneously assign potential clients to salespeople for follow-ups, collect contact data, and send a welcoming email.
2. Multimedia Content
Technological advancements and changing trends have shifted online interactions from text to other media, such as podcasts and video content. In today’s world, videos are significantly popular, attracting various audiences and nurturing existing customers. According to Forbes, adding a video to marketing emails boosts click-through rates by around 200% to 300%. Videos are a great way of increasing website traffic and profits.
You can create long-form videos offering specialized advice to prospects. Also, With the help of lead generation tools, they can be cut into short teasers that appear in YouTube videos with links that direct viewers to your website for the full version.
3. Create Referrals Programs
There’s no better way to generate high-value leads than through customers who love your products or services. Also they’re well-versed with your brand, they’re much more likely to recommend it within their network, especially to people who could benefit from your business. However, it would help if you didn’t wait for them to do the work for you. Create a referral program that makes it rewarding and straightforward for them to relay information regarding your products to their family, friends, and coworkers.
Through such a program, you can encourage loyal customers to provide referrals using click-to-share links or well-timed asks, receiving discounts for every new customer they help refer or secure. Referrals can bring in top-notch leads, and most marketers claim that setting up these programs has a lower cost-per-lead compared to other marketing techniques.
Nobody wants to be spammed by email or on the phone. You’re likely to scare prospects away by badgering them with information every day. Instead, show that you remember them and are around using a newsletter. Remind them of your products and services through a physical or digital copy. Don’t hesitate to pinpoint deals that are tailored to meet their needs.
Gone are the days of people appreciating random cold calls. The internet has led to evolved ad mindful thinking, where individuals are well-informed regarding what products and services they want to consume. As an entrepreneur, you must know that managing a business is no easy feat- you should always be ready for change. The lead generation process is critical to securing buyers and increasing conversion rates. Without it, your business growth will suffer, and you’ll struggle to attract customers and opportunities.