Lead Generation: Definition, Process, Tools, And Strategies (Simplified)

lead generation

Successful product marketers and sales representatives are people that good at generating the interests of their target audience. People that can direct these interests to a particular product or service they offer. Well if are one of the many business owners who lack this skill, you need to take a close look at Lead Generation. So in this post we will be looking into tools and process of choosing lead generation, also the companies and ideas on real estate will be opened to you. 

So first, let’s begin with a brief definition of Lead Generation.

What is Lead Generation? Lead generation is the marketing process that seeks to attract and build the interest of a lead (potential consumer) or a targeted audience to a company’s product or service with the hope of turning the interest into a sale. This is a marketing term that refers to the process of attracting and converting a prospect to a buyer of your products or services. There are two types of lead generation: inbound and outbound.

  1. Inbound marketing: Is a technique for attracting customers to your business by creating and promoting relevant content and incentives. It is the contemporary, digital method of marketing. Content marketing, social media marketing, search engine optimization (SEO), and advertising are all examples of inbound activities.
  2. Outbound marketing: Begins with a foundational understanding of your target audience. This is referred to as traditional marketing by some. Direct mail, telemarketing, email marketing, and event marketing are all examples of outbound activities.

A successful lead generation system combines inbound and outbound marketing strategies to attract prospects and convert them into leads prior to converting them into customers.

Read Also: EFFECTS OF ADVERTISING AND PROMOTION ON SMALL BUSINESSES

LEAD GENERATION PROCESS

Many successful businesses are continuously looking to expand their customer base and grow their businesses. But, business growth could be challenging because it involves a steady flow of authentic sales conversion and a high customer retention rate.
With this in mind, the need to constantly project advertisement campaigns targeted to the specific set of people who they have identified to be their potential customers is very paramount. And as such creating a system that will make that happen should be a priority. In the world of Lead generation, the following are the process business owners need to pursue to enable them identify and convert these prospects into paying customers, they are;

#1. Audience Identification

The main job in this category is to identify their target consumers. This means the segmented portion of the larger market that fits into the category of people that will need your product or service. It is important to conduct a research about them and come up with a clear picture of;

  1. Who they are
  2. Where they live
  3. How much they earn
  4. The kind of lifestyle they live
  5. Their personality traits
  6. Their age bracket, gender, etc.

Now, gathering this information will give you a clearer picture of the kind of customers you’re going to target.

#2. Picking A Promotional Method

For an effective process in lead generation, you will need a cutting edge promotional campaign. This is with the intention of constantly getting the products and services in front of your audience.

There are tons and tons of ways this can be done. But again the most effective method should be identified and used.

So, marketing ideas like advertising on TV, radio, local newspapers, billboards, etc can be effective. Also, conducting a social media campaign on Facebook, Twitter, Instagram, etc is another option for a specified demographic.

Read Also: Promotion Mix: Definition, Types, Importance, & Strategies

Furthermore, launching an e-mail marketing campaign is something you should look at. It gives the opportunity to send out direct mails to these prospects through a customized approach and an enticing call to action on every mail sent. In addition, approaches like Search engine optimization (SEO), Google AdWords, blogging, etc are also effective ways to reach these targeted audiences.

#3. Create A Sales Funnel

At this process point in lead generation, you should already know how best to reach your prospects. But there also has to be a plan for collecting the contact information of these people.

This process of lead generation starts with channeling all prospects to a page that encourages them to share their contact information, online or offline. On this note, it will be vital to create a database to house this information. The plan is to help you keep track of these potential customers.

#4. Relationship Building

Now, the next thing to do is to build some sort of relationship with these prospects so they can move to buying-customers.

Reaching out to these customers will depend on the type of contact information you were able to get from them.

For some, a customized email newsletter will need to be sent to them periodically, followed by a call to action. While for others, you would need to reach them through SMS and calls. These reach outs serve as reminders. It also strengthens the resolve of those who are still skeptical about the service and product quality. Those who might need more information from the service provider before committing.

#5. Track Best Leads

The need to quickly identify which leads are worth pursuing out of the whole lot is pretty basic. Lead generation is ineffective without putting this into consideration.

This means distinguishing those that need to be nurtured from those who are not just ready to buy yet. Tracking and ranking these leads can help marketers to channel and prioritize leads according to their rankings. The actions of these leads shown towards your preferred marketing tool will affect how high their rankings will be. It will also dictate whether any considerations will be given to them.

Read Also: Marketing Strategies: How A ‘Free-Delivery’ Offer Can Improve Sales For Your Business

Lead Generation Companies

Do you want to find the best lead generation companies? If you hire a lead generation company, you will be able to make more sales. That’s why we’ve put together a list of the best lead generation companies for you to look at.

#1. Cience

Cience is a PaaS (People as a Service) company that is based in LA. If you want to work there, you can go to Ukraine or Manila. This is one of the companies of lead generation that was founded in 2015. More than 550 people work for them, and they offer voice services, conversion optimization, CRM consulting, and SI and SI services. They did market research and outbound marketing for a company that sells language services to get more leads and sales.

#2. Belkins

Belkins did market research for a digital marketing company to help the company make more sales and be more productive. This is one of the technology companies that works on lead generation, that uses its own technology and a unique method to set appointments for revenue leaders in a wide range of industries.

#3. Strategic Sales & Marketing

In Farmington, Conn., a business called Strategic Sales & Marketing (SSM) makes leads. SSM was founded in 1989 and helps businesses get leads and set up meetings with B2B major accounts. Strategic Sales & Marketing came up with cold call scripts for an engineering consulting firm that were tailored to their specific market and goals.

#4. SalesRoads

SalesRoads helped a marketing company get more leads and make more sales by making outbound calls. As of 2006, SalesRoads as one of the lead generation companies has been a B2B appointment setting and lead generation service based in Coral Springs, Fla. The company was founded then. More than 30 people work for them, and they offer sales outsourcing and telemarketing services.

#5. Callbox

Callbox is a business process outsourcing company that is based in Encino, California. It has offices in Singapore, Ultimo, Australia, and the Philippines, as well as in the United States. Founded in 2004, Callbox has a team of 174 people who do voice and non-voice BPO/back office work.

#6. EBQuickStart

Around 250 people work for EBQ, which is based in Austin. They work with clients in the IT, advertising, and business fields. They offer voice services, CRM consulting, and email marketing advice to businesses that want to get new B2B leads and set up meetings. This is one of the good companies you can get in lead generation.

Now let us go over to see lead generation real estate.

Lead Generation Real Estate

For a real estate business, this would be someone interested in renting, purchasing, or selling their home. Below are list of lead generation real estate.

#1. Local Search Engine Optimization

Today, 44% of home buyers begin their search online, and 95% use the internet at some point during the purchasing process. In other words, it is critical that your website ranks highly in Google when people are looking for agents to assist them in buying or selling a home.

#2. Analyze The Competition

One of the quickest ways to increase your business’s lead generation is to discover how your top competitors generate their online leads and replicate their strategy. This eliminates a lot of the guesswork, which is especially helpful if you’re new to an agency or brokerage.

#3. Community Pages

In lead generation, when a home buyer relocates to a new area, they will almost certainly conduct extensive research on both the community and the real estate market. That is where community pages enter the picture. By adding community pages to your website, you can establish yourself as the go-to resource for your neighborhood.

#4. Tours Virtuels

The traditional method of real estate marketing entails the use of photographs and written copy. However, there is a more modern and intelligent way to attract buyers and investors. Rather than inviting prospects to an inspection, you can provide them with a virtual tour from the comfort of their own home.

WHAT ARE THE TOOLS FOR LEAD GENERATION

Lead generation is more than just getting people to show interest, its also about collecting their information so targeted communication and advertisements can be sent to them and turn casual consumers to loyal customers.
And like any other job, lead generation requires the right tools to enable marketers to generate more leads that will lead to sales. 

The following are categories of tools use in lead generation, they are:

#1. One Page Lead Generation Tools

This platform helps to capture leads on a website. Tools under this category include; Turnstile, Qualaroo, Optinmonster, Intercom, Unbounce, etc.

#2. Inbound Lead Generation Tools

This tool helps to bring more leads gotten from the creation of content and campaigns from search engines and social media platforms to the website. They include; Quora, Hootsuite, Slideshare, Everwebinar, LinkedIn, etc.

#3. Outbound Lead Generation Tools

Outbound lead generation involves sending out unsolicited messages to the target audience regardless of whether they have shown interest in the product or not. This tactic includes cold calling, sending mass text messages, sending mass emails, display advertising, etc. However, the tools used include; Sendblaster, Datanyse, Hunter, BuzzBuilder, etc

#4. Email Marketing Lead Generation Tools

Email marketing helps businesses to nurture leads after they must have shown interest, in signing up and providing their email address. The next step is to start sending targeted emails to them to help nurture the buying process until they become loyal customers. Some of the tools needed for this include; ActiveCampaign, SendinBlue, Prospect.io, Mailchimp, etc.

#5. Search Engine Marketing Tools

Search engine marketing makes use of search engine optimization to increase the visibility of websites in search engine results pages. You can achieve this through organic or paid advertising. Some of the tools used to get results include; Yoast SEO plugin, Google Analytics, Google Ads Scripts, Twilio, SEMrush, etc.

#6. Marketing Management Tools

This tool helps businesses to oversee and manage their marketing strategies. They help streamline daily marketing activities and improve the overall strategy. The following includes great tools for achieving top-notch management in handling marketing activities; Canva, Buffer, Google alerts, Google Analytics, Hubspot, ActiveCampaign, Hoovers, Buzzsumo, etc.

STRATEGIES FOR LEAD GENERATION

Lead generation strategy describes those tactics that businesses use to attract prospective customers and turn them into buying customers. A lead is a person who has shown interest in what a business is offering and takes some actions. They have shared their contact details or shown that they are interested in doing business.
The following are strategies which can be used to generate more leads, they include:

#1. Create A Gated Content

Gated contents are materials only accessible to users who take their time to fill out forms on the website before accessing them. The contents of these materials are locked until the user submits either a name, phone number, or an email before it is released for them. This strategy offers something of value for free to the user while attracting leads to the product or service been offered. Gated contents often include E-books, reports, free courses, free software, online tools.

Read Also: SOCIAL MEDIA MARKETING STRATEGY 2020: A detailed guide(+free template)

#2. Create Newsletters

Creating a value-packed periodic newsletter that encourages interested prospects to connect and stay in touch with your business. This allows businesses to share promotional content directly to the prospective customers, to further move them from prospects to buying customers. Contents of the newsletter might include promotional offers, updates about products, new blog posts, upcoming programs, etc.

#3. Hosting Events

since lead generation can be done online and offline, hosting events is another way to attract and serve your target market, capturing their contact details through event registration.
This is also an avenue to connect with customers in real-time, know everything that there is to know, and answer their questions. Organizing webinars, workshops, Seminars, Conferences, etc are good ways to execute such plans.

Read Also: MASS MARKET: The Ultimate Guide

#4. Free Coupons And discounts

Most customers patronize products that have discounts and free coupons attached to them. Customers are attracted to products that offer discounts as opposed to the ones that don’t to them. This is because it helps them to save cost when buying. Offering discounts and free coupons is a good way to get the attention of prospective customers, it also gives them the opportunity to try out new products which they haven’t used before. In the midst of offering them such amazing offers can some of them move from prospects to buying customers.

Conclusion

With Lead Generation as an essential part of any business’ growth, hope this post was able to provide all the information you would need threading this path?

Please reach out on the comment section for any questions or clarifications.

 

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What do you mean by lead generation?

Lead generation is the marketing process that seeks to attract and build the interest of a lead (potential consumer) or a targeted audience to a company’s product or service with the hope of turning the interest into a sale.

What is lead generation and how it works?

…the need to constantly project advertisement campaigns targeted to the specific set of people who they have identified to be their potential customers is very paramount. And as such creating a system that will make that happen should be a priority.

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