Are you running a lead generation campaign for your business? Or are you looking for lead generation for your business and want to get generate high-quality leads for it? Then this article is for you.
In this article, we are going to talk about lead generation and how to generate high-quality leads for your business. If you are new to lead generation then don’t worry, I will explain it from the basics and will use some daily examples to understand you more clearly
What is Lead?
The basic definition of a lead is, a person or business who can become your client/ customer in the future, lead is in the form of a name, email & phone number, Sometimes it is only a phone number/email or a combination of it.
Some business needs more data to qualify a person as a potential lead for eg. If you’re looking to buy an iPhone then you will not be a qualified lead for the android mobile seller. So that time mobile seller need more data about you.
What is lead generation?
A process of collecting data of your potential leads is called lead generation. This is the basic and simplest definition of lead generation.
Purpose of lead generation and why lead generation is important
The ultimate goal of business is to make more sales and ultimately make more profits by fulfilling customers’ needs.
For making a good amount of sales, we require potential leads. For high-end B2C products like cars, real estate we need lead generation.
We cannot go directly into the market and directly ask people whether they are interested to buy your stuff. For this, we need lead generation.
In lead generation, we define our target audience, for example, you are a car dealer and you generate leads of people who are interested in buying a car. So it makes the sales process easier and increases profitability
When to generate leads?
As a business owner, you need to know when to generate leads and whether your business needs lead generation or not.
Let see about when to generate leads
When product price is high and buying decision is complex then you will need a lead generation for your business. For this, I will categories all the businesses into 4 categories.
1) High-end B2B products/ services
2) Low-end B2B products/ services
3) High-end B2C products/ services
4) Low-end B2C products/ services
According to some research, you will only need lead generation for 2 categories from the above-mentioned categories.
1) Low-end B2B products/ services
2) High-end B2C products/ services
For getting more clarity on the above concept I will explain to you each category of business.
1) High-end B2B products/ services
For understanding this we’ll take an example of companies like Infosys and TCS. They do not run lead generation campaigns for their businesses. They directly contact upper-level decision-maker authorities who can become their potential clients and final the deal.
That’s why they do not need lead generation for their business. But closing deals in this category required more sales efforts than other categories.
2) Low-end B2B products/ services
If you are running an IT service agency and your leads are other businesses who are looking for your IT services like web development/ app development then you will need to generate leads for your agency business. After generating leads you will also need a sales team to nurture those leads and convert them into clients.
3) High-end B2C products/ services
This category includes products like a car and real estate. For this, you need to generate leads for your potentials clients. After generating leads you will need a sales team. The sales team will help your lead to make purchase decisions easy by explaining then all about your product or services.
If you have searched for a car or real estate then multiple websites give information about that product and they will take your contact details in the form of the contact form. Then they will transfer your contact details to a particular car dealer or real estate agency and you will become their lead. This is one type of example of how businesses generate leads in this category.
4) Low-end B2C products/ services
When the product price is low and buying decision is very easy then you do not need a lead generation. A product like chocolates, Pens includes in this category in which you do not pay much for a thing.
Also in this category, the profit is low and you cannot afford the sales team to make someone buy this low-price item.
From the points, I’m pretty sure that you will understand when to generate leads for the business. See in which category your business is lying and then decide on lead generation.
The above graph will help you to understand more effectively about which business we need to generate leads.
These graphs also show the number of sales/lead generation and marketing efforts required for the particular business.
The X-axis represents: the price of product/services
Y-axis represents 2 terms:
A) Marketing efforts
B) Sales and lead generation efforts.
If your product price is low then you will need more marketing and advertising efforts than the sales and lead generation efforts.
But if your product or services cost is high then the amount of sales and lead generation efforts needed is more as compared to marketing efforts.
List of top channels from which you can generate leads.
1) Content Marketing
2) Website landing pages
3) Display ads
4) Video ads
5) Webinars
6) Conferences and Events
7) Paid Search.
List of tool which helps you to generate leads.
1) Optinchat by Digital Deepak
2) Linkedin Sales Navigator
3) Optin Moster
4) Website – Pop up
5) Hubspot
6 Tips for generating High-Quality leads
1) Choosing the Right target audience
If you are running a lead generation campaign but if you have not selected the right target audience then your lead generation effort will not generate high-quality leads.
Do some research about your target audience then run your lead generation campaign.
For example. If you have selected your audience’s interest as a “Looking for a new car” but as age criteria, you have entered the age limit as 18 years to 60 years. Here 18 years guy can be searching for a car but he may not have buying capacity then this guy will not be your qualified lead.
2) Strategy for lead generation
It’s all depends on the nature of your business. Do not follow others’ strategies for your business. You own the business you have an idea about your customer. Do some specific study and more research about your product market. It will help you to make an effective lead generation strategy for your business.
3) Right Massage at right time
You cannot send or ask for direct sales to your lead for the first time. First, give them some information about your product then ask for a sale at a right time. Also do not delay in the lead nurturing process otherwise your lead will forget about you.
4) Choose Perfect Platform for Lead Generation
For example, if you are generating leads for your car business then a website like Cardekho.com, Carwale.com will be a better platform to generate leads than Facebook. Because these platforms have a more relevant audience for business than Facebook and Instagram. This is just an example.
5) Keep contact details minimal
When generating leads only take essential data from your potential customers, do not ask for data that is more than name, email, and phone number. There are more chances to loosen the leads if you ask for more contact details. Allow them to submit their basic contact details and later date you can collect more data from them.
6) Lead Magnets
This is the best method to generate high-quality leads.
Usually, people are denied to give their contact details but if you are providing them some free value in form of content, specifications, case studies, etc. Then the chance of getting that leads will increases
Here is one best and simplest example.
If someone looking for a car but is not aware of the specifications and reviews of that car then as a car dealer you can provide him such information as a lead magnet and may collect their contact details in return for it.
Conclusion
This is all about lead generation and how to generate high-quality leads for your business.
I hope you will like this article. Please do let me know your feedback and suggestions in the comment box. You can also post your questions in the comment section.
Thank you.
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