Everyone must have heard about lead generation, there’s nothing new in that, right? But for those who have never heard about the term “lead” or “lead generation” then you are at the right place. As we know how important for any business to generate leads, generate profits, or get customers for their brand.
What is a Lead?
A Lead is something or someone who expressed their interest in your business product or service which you are offering. Leads can come from any source like from references from your existing or former clients AKA word of mouth, website, social media platforms, campaigns, or even from cold calling. In almost every way the leads are the prospects that can be converted into clients and generate profits for your business. Now sometimes you might come across certain companies that sell the leads. But the main thing to be kept in mind is that the leads which you buy from other companies are not costumed for you. They might have some data which is not beneficial.
What is lead generation?
Lead generation is the process of generating new leads for your business. The generated leads can be of the customers who are the prospects. These prospects can later be turned into the actual customers which can, later on, get profits for your business. Once you generate the lead the next step is very crucial where you have to work to be able to mature the potential customer to customer. This step includes your sales team talking to the prospect. The sales team plays a crucial role to clarify the doubts of the people, tell them how their product or service is going to solve their problem while easing their work. Nurturing leads to the fullest is important when a company generates sales.
Why is Lead Generation important?
Lead generation is important because without lead generation the company will not be able to increase their profits for the business. The main objective of any company is sales or profits eventually meaning money. The lead generation is important because:
The currents customers are already buying from you, but that’s not enough. To get new customers you need the leads.
You target the customers of your type meaning using the filter of various types like age, demographic, pain points, etc. By doing this you can filter out and focus on the prospects and convert leads easily.
Return on Investment increases by multiple times.
Why companies still struggle with lead generation?
Even after a long time in the business they still struggle with generating leads. Now, this happens because of various reasons. Sometimes the marketers tend to blame things on things like funding, team, etc. But considering the technology that we have now can results in great outcomes if utilized properly. Let’s find out why companies face issues with lead generation.
a. The knowledge about the target audience isn’t present: If you are selling a product and you are not aware of your target audience that an result in a massacre. Believe it or not, knowing your audience will give out the best results and lead generation easier. There is a thin line difference between seeming to know the audience and actually understanding the audience. So, always know your target audience.
b. The miscommunication between teams: The marketing and sales team are the pillars that make a prospective client mature. If there is some kind of miscommunication between the people of these teams then it can cause losses. The lack of follow-ups is also one of the reasons why companies are not able to generate leads. Maintaining a good level of communication is an important aspect to be able to generate leads.
c. Use of outdated data: Outdated keywords are one of the main causes which cause an issue in lead generation. Keyword generation is a general process that needs to be updated almost every other day keeping in mind the trends going on. If you don’t do this then you might miss out on valuable insight hence, losing clients.
d. Not using Emails: People have overlooked one of the most important and oldest tools and that is email. Emails are still considered a great tool for lead generation. A study conducted by plaster.com said that emails are still one of the most effective tools for lead generation. 87% of the respondents feel that emails are still an important tool and preferred marketing channel.
e. Trying to sell on the first go: The important aspect of this lead generation process is knowing the audience. But often people make the mistake that they just want to sell the product on the first go only. Rather the important thing to be done here is building rapport with the prospects knowing their pain points. Once you know their pain points, you can just prepare the presentation according to the prospect and generate sales.
Lead generation is not a very difficult task and can be done following some things and most importantly, keeping up with the ongoing trends around you. Now, you know why most companies struggle with lead generation and how these problems can be solved.