Lead generation is at the heart of business development.
To succeed, it is necessary to diversify and balance all possible sources of leads.
The first question you want to ask is where the organization is getting the leads. The best leads are individuals who’ve voiced an interest specifically in your kind of business. Since those kinds of prospects require the maximum effort on the part of the business, as you might expect, they can be the most expensive. Some have catch websites, some run television advertisements, and other sources. The best sources are at which the individual has expressed an interest in some kind of business.
Most companies have a web site, however they don’t utilize the marketing effectiveness of this internet site to create leads. Most companies also have some type of database, so it might be inflexible and you might have requirements that it doesn’t fulfil, but it captures info.
What is a lead?
Lead is an identified prospect, who has shown interest in your brand and your solutions.
For example, he filled out a form on your website or after sending a marketing email; he may have downloaded one of your contents (white paper, brochure, checklist, etc.), registered for an event, etc. Be careful, not all leads have the same value, and we must differentiate their number of their quality to build a successful lead generation plan.
Diversify your sources of leads
There are different lead generation channels, and it’s a good idea to diversify them to ensure new leads are regularly entered throughout the year. In BtoB, the primary sources of leads included calling, organic and paid SEO, event organization, sending paper mailings and marketing mailings.
Each of these sources has its own time frame to give results: SEO requires regular work and only pays off in the long term, while an email marketing campaign generates leads within hours. These sources do not have the same cost and also have limited potential. To build a strong lead generation plan, these factors must be taken into account.
Take your sales goals as a starting point and deduct many leads needed to achieve them. You will then assign some leads to each source based on its potential.
There are many ways to generate qualified leads for small business according to their budget and needs. But most important factor is ROI.
Measure your ROI
The quality of a lead is judged by its conversion rate: how many sales did you make compared to the number of leads collected? To evaluate the effectiveness of a campaign, several KPIs must be followed: the number of leads generated their cost, their conversion rate and the average basket. You will be able to calculate your return on investment (ROI) and keep only the most profitable campaigns. ROI is the ratio of the revenue generated to the cost of a campaign. If it is less than 4%, in B2B, it is better to stop the campaign and test a new approach.
Hope this post will help to increase effectiveness of your lead generation plan.