Lead generation involves the process of attracting strangers and converting them into someone who has an interest in your product or service. If you pay close attention to your marketing and lead generation efforts, then you will gain precious into these prospects as well as information about them – this plays a vital role in the converting stage.
Inbound lead generation takes this tactic, yet prevents your business from coming across as ‘spammy cold callers’. We’ve all been the victim of cold-callers ruining our relaxing evenings, trying to sell us a product which we have never expressed an interest in. As you know, this is incredibly off-putting and very rarely works. This means it is more important than ever to get the inbound marketing right. The internet demands new ways to generate leads, and with consumers paying most of their attention to the online world (up 7% year on year!), businesses must keep up to succeed in lead generation.
Warming up potential customers is only the beginning of your inbound lead generation practice. You need to know how to qualify a lead in order to understand if they are going to have value to your business. This can be done through online vouchers, free guides, online chats, trials, etc. Whatever strategy you take, ensure that it has a goal of collecting information about your leads.
If you’re on the fence about starting, then it’s worth understanding why inbound lead generation is so effective. Inbound lead generation thrives from organic search, meaning that you’ll be focusing purely on ethical methods – nothing that’ll get you blacklisted! With organic search having the largest close rate of 51%, it’s going to be your best bet with a lead generation strategy.
At the end of the day, all of your sales techniques are going to point to one goal – positive ROI. If you don’t have positive figures at the end of your sales journey, then you’re going to feel a bit defeated. So, it’s extremely important to work out your lead acquisition costs and understand your financial situation at all times. The result will differ depending on your industry, but you can determine expenses through this equation: divide what you spend on a campaign by the number of leads that came in from it.
If you’re looking for quality, then a higher cost per lead might mean a higher quality lead and a lower overall customer acquisition cost. Hubspot conducted a survey which found that 58% of companies generated 500 or fewer leads per month, with 71% generating 1,000 or fewer leads. Recall that the companies with higher annual revenues are also the ones that produce the most leads.
There’s plenty of things to consider when it comes to nailing your inbound marketing campaign, and it’s crucial that you have a plan – the last thing you’ll want to do is go on a tangent and waste valuable time! My company, Bulldog Digital Media, has created this thorough guide for generating business the inbound way, which is worth checking out if you’re serious about getting some leads!
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