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Lead Generation 101: Back to School

Everybody has an idea of what lead generation is. Everybody knows that it has something to do with getting new customers. But we’re here to tell you the full story. Here’s what this article will cover…

Table of Contents

What is a Lead?

According to Marketo, the standard definition of a lead is ‘a qualified potential buyer who shows some level of interest in purchasing your product or solution’. However, who or what a lead is, differs from one company to another depending on your sales cycle. It is up to you to sit down with your sales team and come up with an apt definition of what a lead looks like for your business.

What is Lead Generation?

In short, lead generation is the marketing process by which companies build interest amongst their audience with the goal of turning this interest into a sale. Due to the evolution of the digital age, these efforts have now become digital as well.

Why is Lead Generation Important?

Marketing has transformed drastically from what it was and it is necessary for companies to keep themselves updated in order to stay in the game. Here is how lead generation could help your business.

Why lead generation is important for b2b businesses

How Lead Generation Works?

The basics of tackling lead generation can be split up into two; outbound and inbound. The primary difference between the two is just that outbound marketing is when your products are being ‘pushed’ to the customer through advertisements as such, whereas through inbound marketing, you are focused on ‘pulling’ your customers to you with the help of good content. Inbound marketing is all the hype now. It’s high time you start looking at these lead generation strategies.

We have a detailed post on Inbound Marketing that you might find useful. Check it out here.

How to Improve Your Lead Generation?

Now let’s say you’ve done everything we’ve talked about above, even invested well in inbound marketing. Why is your lead generation still under-performing?

Optimizations to your website can be done. This includes call-to-action (CTA) placements and Lead magnets to determine what type of content performs best.

Optimize your lead capture forms. Studies show that more fields in forms tend to reduce the number of responses. You could also show a shorter form for mobile visitors. So, although it is important to gather maximum information about your prospects, don’t do it.

Because chances are, this is going to be their reaction…

It would also be a good idea to have simple website navigation. Nobody wants to spend 30 minutes trying to find something!

What Metrics Should you be Looking for?

Finally, here are some fundamental lead generation metrics along with the industry averages that many businesses track as part of their lead generation efforts:

There you go! You can now approach your lead generation strategy and tactics knowing what the basics are, rather than just assumptions and hearsays. So next time you’re in the meeting with your team trying to see how to get or convert leads, we hope this article has helped you gain a better understanding of what you’re aiming for!

Want more lead generation ideas for your B2B business? We have a whole list of 30 ideas, JUST FOR YOU!! Click here for more information.

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