Why Lead Generation Is The Life Blood Of Any Business
Many business wonder why they lack growth in their business. The simple reason is, they don’t pay attention to their lead generation strategy.
Sales is most of the time referred to as the life blood of a business. That may be true. But Lead generation IS the life blood of any business.
The simple reason is, if you do not have potential clients asking about your business consistently, sales will come to a halt. This will inherently affect your business.
Lead generation is sometimes downplayed by some businesses. The hard truth is, we all go through the process every single time we gain or pursue a potential customer.
With lead generation, the marketer aims to warm up target customers and get them on a path that leads to buying.
We run ads, create contents that appeal to our ideal customers, they get on our list or we build a relationship with them which in turn leads to a final sale and a repeat sale.
We don’t have a true customer until we make them repeat customers.
The process is called Lead Generation. The art of acquiring new customers or clients is what we call lead generation.
How do we go about this?
Like I stated in a previous article on email marketing we offer a freebie which entices new customers, this customers just went through the lead generation. They are called leads or prospects.
Every business goes through the pleasure not “pain” of building a sustainable relationship with their prospects which will ultimately lead to fruitful relationships.
There are different methods of acquiring lead gens.
The list below consist of common lead generation techniques.
- Digital Advertising; Using ads to drive traffic and build a list of prospects.
- Inbound Marketing.
- Industry Events.
- Cold Calling.
How to Generate Leads in Your Business
- Identify Your Target Audience. The first major step of lead generation is to identify your target audience.
- Pick Your Advertising Methods Wisely. The one that through intensive research has shown that your target audience can majorly be found there.
- Create a Sales Funnel.
- Use an Email Newsletter to Build Relationships.
- Leverage Social Media to Connect and Engage with your new customers, leads or clients.
With this 5 step plan, you can’t go wrong in building a pipe of lead generation funnels.
We should cultivate the habit of classifying our lead gens.
According to HubSpot there are 4 ways of classifying a lead, and these are;
- Marketing Qualified Lead
- Sales Qualified Lead
- Product Qualified Lead
- Service Qualified Lead.
These 4 have different functions in the customer journey.
Marketing Qualified Lead
These are potential clients who have engaged with your marketing efforts and aren’t ready to receive a sales call.
Sales Qualified Lead
These are potential clients who have taken actions that expressly indicate their interest in becoming a paying customer.
Product Qualified Lead
These are potential clients or customers who have used your product and taken actions that indicate interest in becoming a paying customer.
Service Qualified Lead
These are potential clients who have indicated to your service team that they are interested in becoming a paying customer.
These are the 4 types of classified leads.
Lead generation is important for the growth and survival of a business.
If you need help with setting up a lead generation campaign for your business do leave a comment, we would be glad to help you out.