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What is a lead generation strategy?



What is a lead generation strategy?


If you're looking for ways to increase your conversion rates and grow your client base, then it might be time to consider implementing a lead generation strategy. Lead generation can take many forms depending on the industry or business model that you work with, but all businesses need to have one if they want to stay afloat.

A lead generation strategy involves identifying who exactly will become an interested prospect, finding out where those people hang out online so you can connect with them there, and finally communicating effectively enough during these conversations to move things forward. Once again, this isn't always easy -- especially when you've got little budget or staff resources to get the job done right. But here we'll break down some basic principles behind lead generation strategies which any professional marketer should know about before even starting their first campaign.

What are the 4 L's of a lead generation strategy?

First of all, let’s talk about the four L's:

1) Leads - The individuals or companies that you would like to convert into clients (also known as "leads"). These could either be prospects already ready to buy from you, or people who just want to hear more information about whatever product or service you offer.

2) Listings - This refers to places where potential buyers may look up products or services similar to yours, usually through search engines such as Google and Bing. You can also use directories to list yourself as well.

3) Landing pages - A landing page is basically a single web page specifically designed for generating interest in something (in this case, you). It has strong call-to-actions directing visitors towards other parts of your website, usually via links.

4) Marketing automation platforms - Automated email campaigns and follow-ups are another way to keep in touch with leads after initially connecting with them over social media or elsewhere.

Now that we've covered the basics, let's dive deeper into each element individually.

What are the 4 Ls in marketing?

The 4 Ls of marketing aren't specific to B2B lead generation, though. They apply equally to both B2C and B2B industries because every company needs to attract new clients and retain existing ones. However, since most B2B marketers don't typically rely heavily on paid advertising, lead generation plays a much larger role in the overall success of a B2B brand than its counterpart does in the consumer space. That being said, we'll discuss the same fundamentals below for anyone working within the B2B realm.

1) Location - Your location matters. If you sell software, for instance, chances are good that most of your target audience lives somewhere near Silicon Valley or New York City. So while you might not necessarily advertise locally, you absolutely must make sure to find local listings for your company on sites like Yelp, Angie's List, and others to ensure that your name gets seen by prospective clients.

Similarly, if you operate a restaurant, you'll likely want to advertise locally to bring in more foot traffic. And lastly, if you own a small hardware store, you may not care too much about your address, but you definitely want to show up whenever someone searches for "hardware" online.

Location is important because it tells us where our ideal customers live. When we're talking about B2B lead generation, however, we're generally referring to smaller, independent businesses rather than large corporations. Because of this, we often see less competition between brands in terms of location. For example, if I'm selling electronics accessories, I probably won't compete directly against Apple or Samsung unless I set my sights very high. Instead, I'd focus my efforts on building relationships with local retailers, restaurants, car dealerships, etc., where other sellers simply don't exist.

2) Language - Even if you run a multinational corporation headquartered across several different countries, language still matters. Localized content helps drive leads back home. Consider offering free shipping only in select states or regions, for instance, or provide additional bonuses only to residents of certain ZIP codes.

In addition to making your site easier to navigate for non-English speakers, localized copywriting makes it clear to readers why they should choose your product or service over competitors'. Take a look at Zappos' recent launch of a Spanish version of their website to illustrate this point. As you can tell from the screenshot above, Zappos offers a great deal of customer support regardless of whether you speak English or Spanish. Yet they clearly prioritize helping Spanish speaking customers and giving them access to special benefits without sacrificing quality control.

3) Leverage technology - There are plenty of opportunities to leverage modern technologies to your advantage when it comes to B2B lead generation. Social media is obviously a huge part of the equation here, but so is mobile app development and video streaming capabilities. Make sure to integrate everything from SEO to analytics tracking to landing pages wherever possible.

For example, if you sell widgets, you could easily build a widget review section onto your homepage or blog where users can share reviews and give feedback. Or perhaps you could ask for user input on pricing and features using surveys embedded into the design. Either way, leveraging tech allows your brand to stand apart from the crowd and gives you a leg up on competing against established players.



What are the elements of a lead generation strategy?

So far, we've talked extensively about what the 4 Ls mean in relation to B2B lead generation. Now we'll delve into the specifics of a successful lead gen strategy. First off, you should identify your buyer persona(s), which means deciding who exactly you hope to serve with your business. Once you do this, you can start thinking about the type of content you wish to produce to reach that person. It doesn't matter if you're targeting CTOs, CEOs, or college students -- the key is to understand who you're trying to appeal to and tailor your message accordingly.

Next, you'll want to establish landing pages for each individual piece of content you plan to publish. While you may think that having multiple landing pages is confusing, in reality it actually works better than one big splash page ever could. Each page serves a unique purpose and allows you to direct visitors to specific locations throughout your website. Finally, you'll want to develop automated emails and/or newsletters that allow you to send targeted messages to the right people at the right times. Ideally, you should aim to automate 80% of your outreach processes to save valuable time and energy!

Finally, you might be wondering how to implement these ideas practically. Well, luckily, there are lots of options available to you. Some of the best include Hubspot and Marketo, two popular CRM solutions that come with built-in email marketing functionality. Both companies offer extensive training programs for novice users, so feel free to contact their customer support teams if you have questions.

But really, the sky's the limit when it comes to lead generation techniques. Don't be afraid to experiment with paid ads on Facebook or LinkedIn, for instance, or utilize influencer marketing tactics to gain attention. Just remember that you shouldn't waste money doing anything that doesn't add value to your bottom line. Ultimately, your goal is to turn strangers into paying customers, so always strive to put your best foot forward.

Lead generation is an important part of any business' customer acquisition plan and can be especially valuable for B2B businesses who rely on strong relationships with their clients. Without it, there would be no way to get new prospects into the pipeline.

But like all aspects of running a successful company, lead generation also requires careful planning - if done right, it will allow you to build up a steady stream of quality leads that you can nurture across multiple channels over time.

So let’s take a look at the four steps involved in lead generation (and why they matter), as well as some examples of lead generation strategies that companies have implemented successfully. 

Firstly, we need to understand exactly what lead generation is, so here goes...

How does lead generation process work?

The first step in generating leads is finding out where people might want to buy from your product or service. This could mean getting them onto your website via paid advertising campaigns, or through organic means such as SEO, PPC ads, email lists, etc. The second step involves actually communicating with these potential buyers about their needs and wants, which includes both cold calls and emails. Finally, once you've established rapport with the prospect, it's time to close the deal by offering something of value to them in exchange for signing up to receive more information about your products or services. If this sounds familiar, then congratulations! You're already doing lead generation. But just because it looks similar doesn't mean it has to feel the same. There are plenty of ways to go beyond this basic formula. For instance, instead of making direct contact after someone visits your site, you could send them personalized content based on the things they searched for online. Or you could use tools like Hubspot and Marketo to automate much of this process so you don't even have to think about it.

In short, lead generation isn't one big thing but rather many small parts working together to form a complete whole. And while each element may sound simple enough, putting them all together correctly takes practice and experience. That said, there are several general processes that most companies follow when engaging in lead generation activities. Let's break down those below.

How does lead generation make money?

When talking about "how" lead generation makes money, it's easy to forget that the end goal is always to turn the leads you acquire into paying customers. After all, without revenue coming in every month, there wouldn't be anything left to reinvest back into growing the business! So how do you ensure that you maximize your return on investment (ROI) on lead generation efforts? Well, there are two main factors worth considering. Firstly, it's vital that you choose a pricing model that aligns with your target audience. Secondly, you'll want to find a balance between nurturing existing leads versus attracting new ones. As with everything else, there's no single answer to either question. However, in order to achieve success, you'll likely want to consider both options.

Lastly, keep in mind that while it's not possible to predict exactly how much profit you'll earn from lead generation efforts, there are certain metrics you should track regularly to measure its overall performance. These include:

Number of targeted leads generated per day/week/month

Average conversion rate of qualified leads

Percentage of leads converting within 30 days

Sales cycle length

Cost per lead

You can learn more about tracking key performance indicators (KPIs) for lead generation in our article titled How To Track Lead Generation Success With KPIs.

What are the stages of lead generation?

There are three distinct phases to lead generation: Attracting Prospects, Qualifying Leads & Closing Sales. Each phase plays a crucial role in turning your leads into paying customers. While you won't necessarily move through all three simultaneously during a campaign, it's helpful to understand their purpose and importance.

Attracting Prospects: This stage begins before anyone ever hears about your brand, meaning the first task is to gain attention for yourself. You can accomplish this in various ways including search engine optimization (SEO), social media marketing, influencer outreach, etc. Once you start generating interest among prospective customers, you'll need to convert them into interested leads.

Qualifying Leads: At this point, you'll need to determine whether or not the person visiting your landing page has expressed genuine intent to purchase your goods or services. If they haven't, you'll need to ask them questions to see if they'd be interested in learning more about your offerings. Depending on the type of lead, you may also want to offer incentives to entice them to signup.

Closing Sales: When you finally reach this stage, you'll need to provide additional material to seal the deal. This may involve delivering customized offers tailored specifically to the individual or a gift card redeemable anywhere. It can also involve sending a thank you message directly to the prospect to remind him or her of your existence.

As you can see, lead generation is far from a static activity. Instead, it's very fluid, constantly changing depending on the current state of the market. Thus, it's best to view it as a journey rather than a destination -- you'll never arrive unless you continue moving forward.

What are different lead generation strategies?

Now that you know what lead generation entails, it's essential to understand the differences between various types of strategies used to generate leads. Below you'll find five common approaches used today:

Direct Mail Campaigns Direct mail is still relevant today, but only if you use it properly. Many marketers focus solely on volume, failing to pay attention to other important factors like targeting, frequency, timing, etc. When executed incorrectly, mass mailing campaigns can cost hundreds of dollars per piece, resulting in little ROI. Fortunately, effective strategies exist that enable you to scale your efforts quickly and efficiently.

Email Marketing Email continues to play a critical role in lead generation due to its flexibility and ability to deliver personal messages directly to consumers. Still, too often brands overlook the power of automation, opting instead to manually craft every message they send. By leveraging software platforms like Hubspot and Marketo, you can significantly increase the effectiveness of your email marketing program.

Social Media Advertising Social media advertising remains a viable tactic for driving traffic to websites. However, you must remember that people aren't looking for advertisements on Facebook or Instagram anymore, they're searching for information - so make sure your posts contain useful tips and resources related to your industry. Also, avoid posting photos of your employees wearing shirts emblazoned with your logo unless it's appropriate for the image.

Affiliate Programs Affiliates programs offer another great option for generating leads. They typically consist of partnerships between retailers and ecommerce sites that give affiliates access to affiliate links leading to specific items sold by merchants. Whenever visitors click on these links and purchase something, the merchant pays the affiliate commission associated with the sale. Since these commissions tend to range from 5% to 25%, it's a relatively lucrative avenue for generating leads.

Content Creation Content creation is yet another powerful tool used to attract leads. Not only does it drive traffic to your website, but it provides free content for others to share and link to. Just make sure you write compelling articles that appeal to your target demographic.

While each approach works differently depending on your particular goals, the fact remains that lead generation is an integral component of building long term relationships with potential customers. Ultimately, however, a well thought out lead generation strategy is necessary to ensure that you capture the maximum amount of leads available.

If you're ready to implement a lead generation strategy for your own organization, check out our guide outlining seven proven tactics you can use to grow your business.

Lead Generation Strategy Definition.

The first step to effectively generating new business for any company is finding qualified prospects who have an interest in your product or service and can be converted into clients. This requires using some form of lead generation method to find these contacts.

A lead generation strategy defines which methods will be used by your organization to identify prospective customer targets. It also outlines the goals that should be achieved from each source. For instance, if your lead generation efforts were focused on web traffic alone, then they would not include traditional forms of advertising like print ads, radio spots, TV commercials, etc.

To build a successful lead generation strategy, there are four key components that must be considered:

1) Lead Source (who are we targeting as potential buyers?)

2) Lead Qualification (how well does this person match our ideal buyer profile?)

3) Lead Nurture (what actions should we take with them after being found?)

4) Lead Conversion (how can we turn those people into paying customers?)

Let’s look at each component individually so you get a clear understanding of where lead generation comes in the bigger picture.

Why do you need a lead generation strategy?

There are two main reasons businesses use lead generation campaigns:

1) To acquire new customers/clients

2) To increase brand awareness

Creating a solid lead generation strategy is essential because it helps ensure both objectives are met while avoiding common pitfalls such as ineffective sourcing and poor conversion rates. A great lead generation plan will give you a better chance at increasing revenue through repeat purchases, referrals, and other channels of engagement.

You may wonder why you need a lead generation strategy when you already know exactly which leads to target. The reason is simple -- you don't always know! There could be thousands of companies out there offering similar products or services. If you don't have a specific way to narrow down the list, you're likely wasting time and money chasing low quality leads.

In addition, many companies believe their competitors aren't doing anything about lead generation – but that isn't true. They just haven't put together a comprehensive lead generation strategy yet. As soon as you start ranking higher in search engines, you'll see more leads coming in than ever before. So make sure you have one now.

What is the most important thing a lead generation?

This depends entirely upon your industry. Every market has different requirements and challenges so identifying the right lead sources is critical.

For B2B marketers, the number one priority is finding qualified leads. These are individuals who meet certain criteria and possess enough knowledge regarding your product or service to consider buying it. You want to avoid getting too broad here since there are plenty of companies out there trying to sell something unrelated to yours.

Once you've identified a possible prospect, you need to further qualify whether he or she meets the minimum criteria required for purchase. Your goal is to maximize the likelihood of converting them into actual customers. That means making sure they understand why they would benefit from purchasing your product or service and that they feel comfortable with the price point.

If you're selling online courses, for example, you might specify the education level needed to complete your course. Or maybe you'll require that the individual owns multiple homes in order to qualify for financing. Once you've done all of this research, you'll have a much easier time reaching out to qualified candidates and presenting your offer to them.

What is the objective of a lead generation campaign?

Your lead generation strategy defines the steps involved in acquiring new sales leads. You need to carefully define what type of information you're looking to collect to determine which source(s) will provide it.

Some examples include:

Email addresses -- you can email potential customers directly to ask for permission to contact them via phone call, text message, or even social media posts.

Phone numbers -- if you prefer, you can send prerecorded messages asking them to confirm their name, address, and telephone number.

Social Media profiles -- using sites like LinkedIn and Twitter, you can reach out and send targeted offers based on demographic data collected from users' interests and connections.

Website visits -- in this scenario, you'd track visitors to websites and follow up with them once they leave by requesting their e-mail or phone number.

Online Forms -- by collecting names, addresses, and phone numbers during registration processes, you can easily compile a database of interested parties to whom you can continue sending follow-up communications later.

Other methods can involve things like cold calls, surveys, paid adverts, trade shows, and direct mailers. Regardless of your approach, the end result is the same -- you want to gather as much information as possible about potential buyers so you can deliver personalized content, improve your website rankings, and ultimately convert them into customers.

What is lead generation marketing and why every business needs it?

We live in a world where everything is instantaneous and instant gratification. We expect answers immediately and we demand action without delay. But no matter how fast technology moves forward, there remains a large segment of consumers who still value personal interaction over automated communication.

These people are known as "influencers" and represent the best opportunities for your business. Influencer marketing involves finding ways to engage with them and interact personally so they become advocates for your brand instead of simply passing along word-of-mouth recommendations. Think influencers are only celebrities or big brands? Not necessarily. Anybody can influence someone else.

Influence doesn't happen overnight though. Instead, it takes consistent effort over time. And that's where your lead generation strategy comes in. By defining your desired audience and determining the best methods available to capture that group, you can begin building relationships with influencers who share your values and beliefs. Eventually, you'll develop lasting partnerships and earn valuable brand exposure for free.

So go ahead and try implementing a lead generation strategy today. Just remember, it won't work unless you put in the necessary effort to set aside adequate resources to implement it properly. After all, nobody likes filling out endless applications and submitting lots of paperwork. It's far less painful if you let us handle the tedious tasks for you. Contact us today and discover how easy it really is.


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Anyleads

San Francisco

We are the leading marketing automation platform serving more than 100,000 businesses daily. We operate in 3 countries, based in San Francisco, New York, Paris & London.

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