There are a lot of buzzwords you will hear in business, and “lead generation” is one of the more common. So, what exactly is lead generation, and how can it help you grow your business?
Lead Generation: The Basics
First – what is a lead?
A lead is a prospect who has shown some type of interest in a company’s product or service. Usually, they’ll initiate contact by asking for further information, signing up for a free trial, subscription, or another type of offer.
Secondly – what does that make lead generation then?
The term “lead generation” refers to a marketing process that stimulates or captures the interest of a potential customer. It’s the first phase of the sales pipeline, which is how someone moves from a casual visitor to a qualifies prospect. Most companies know that then need to consistently generate leads, but they’re not sure how.
Tips for Generating Leads
Lead generation is a complex process that goes beyond the scope of this article. However, understanding the basic steps will help you get started. Here are four simple things you’ll need to do.
- Identify Your Target Audience
First, you need to figure out who will ultimately buy your products or services. Your target audience is your ideal customer. You’ll want to take the time to figure out who these people are, where they work, how they spend their time, and more. This is the first step of any successful sales process.
- Choose Your Promotional Methods
Next, decide how you’ll market to these people. Will you write blog posts, speak at engagements, or interact through social media? Will you use traditional advertising methods, pay-per-click (PPC), or other methods?
Get clear on the answers to these questions before moving forward.
- Create Your Sales Funnel
A sales funnel is essentially the way you’ll “funnel” a person from the initial contact to their purchase. You’ll often need a “lead magnet” like a free offer, and a customer relationship management (CRM) database to help you keep track of your contacts.
A great lead management software system will help you keep track of everything.
- Nurture Your Relationships
Very few people buy from a company during the initial contact. That’s why you need a marketing system. This allows you to stay in touch and nurture the relationship until the person is finally ready to buy.
You’ll also want to leverage your social media platforms so you can have another method to stay in contact and build rapport with potential customers.
So now you know – What is Lead Generation?
Now that you know the answer to the question “What is lead generation?” you’re in a better position to keep your business growing.
Learning how to keep a steady stream of qualified leads coming into your business is a critical part of success! Having the right systems in place can make your life much easier and help your business thrive.