What is lead generation?
Lead generation, as defined by HubSpot, is the process of attracting and converting strangers and prospects into someone who has indicated interest in your business, products, or services. These individuals or companies that have indicated interest are also commonly known as qualified leads.
Approximately 96% of visitors that come to your website are not ready to buy.(Kissmetrics)
Generating fresh leads is super important for most, if not all businesses. When done effectively, lead generation will produce qualified prospects that want to engage with you and learn more about the possible solutions you have for their problem.
When you begin to generate more leads you will want to be sure to align your sales and marketing efforts to nurture these leads into loyal customers and promoters.
Your visitors will span across all stages of the buyers journey so you want to be sure to provide relevant and helpful content that speaks to all stages. Once you provide content that solves their problems and challenges, they will keep coming back for fresh new content and defer to your website as their trusted resource.
You have a great website and a steady stream of visitors, so how do you convert those visitors into leads? This is done by creating conversion paths.
A conversion path is the prospect's shortcut to becoming a qualified lead. It is designed to allow the prospect to engage with you by disclosing a bit of information about themselves in exchange for some valuable insight in the form of a digital document, eg: eBook, white paper, case study, etc.
Naturally, when a potential customer demonstrates an interest in your business, and they initiate the communication, it is easier for you or your salesforce to engage with this "warm lead" vs. having to sell them on your offering.
Targeting users with content relevant to their position along the buying process yields 72% higher conversion rates. (Kissmetrics)
Below are 10 signs you need to develop a lead generation strategy now:
- Your traditional sales methods are no longer positively impacting sales growth. Thanks to "Do-not-call" lists and SPAM laws it is not surprising it has gotten more difficult for sales executives to generate the same results with outdated methods of communication.
- You do not have dedicated staff for marketing. Depending on the size of your organization, your staff may be juggling multiple responsibilities and not have the resources to focus on marketing and lead generation efforts.
- Your website is not generating unique visitors. You are not creating relevant content or attracting quality traffic. You need to ask yourself who are you trying to reach and what problem do you have a solution for.
- Your leads are not becoming customers. You might be attracting the wrong audience. Learn how to develop personas customized to attract the right audience relevant to your business.
- You do not know what your conversion rate is. Conversion Rate = (Leads Generated / Website Traffic) x 100%
- Your leads aren’t organized and you can’t efficiently manage incoming leads. You do not have a dedicated Customer Relations Management (CRM) tool.
- You do not have a way to track where your leads are coming from. How will you evaluate the performance of your campaigns and identify those that are generating ROI? You should continually review website analytics and make adjustments to improve your performance.
- You don’t know what content to create and how to distribute it. Creating content can be difficult and time consuming. Knowing what content is relevant to your audience and where to distribute it is overwhelming.
- Your marketing application tools are not centralized. Your sales and marketing teams are not aligned and use different tools to track KPI's.
- You are not social selling. Social selling is the process of using social networks to connect and develop relationships with potential customers as part of the sales process. Simply stated, using online social tools to engage in the relationship-building process which has always been the backbone of any good sales professional.
How to Generate Leads: The Key Components
The more landing pages a business has on its website, the more leads it generates. (Kissmetrics)
Key Reasons You Need A Lead Generation Strategy:
- Your traditional sales methods are no longer positively impacting sales growth.
- You do not have dedicated staff for marketing.
- Your website is not generating unique visitors.
- Your leads are not becoming customers.
- You do not know what your conversion rate is.
- Your leads aren’t organized and you can’t efficiently manage incoming leads.
- You do not have a way to track where your leads are coming from.
- You don’t know what content to create and how to distribute it.
- Your marketing application tools are not centralized.
- You are not social selling.
If you're struggling with any of the above reasons, then it's time to invest in a strategy that puts your website to work (around-the-clock) by serving up leads to you and your sales team!