Lead generation is a win-win for both the buyer and seller. Buyers can request information from several businesses that offer the product or service that they are looking for, then the seller is given the opportunity to make its pitch to people who have given their permission. These are some of the hottest leads. Conversion rates on leads received in this way generally have a much higher success rate than cold contacts.
The truth is that successful lead generation strategies really differ for each business—and to figure out what works, you’ll have to know both your own business inside and out, plus what you’re really hoping to accomplish. Some industries are just better suited for social media lead generation tactics, while others still rely on word of mouth to generate new business.
Chadwick Martin Bailey, another expert market research firm, reported that up to 51 percent of Facebook users and 67 percent of Twitter fanatics will most like purchase recommendations from brands they are a fan or a follower of. Such is the impact of Social Media on lead generation and sales that revenues are expected to go up exponentially in the coming years according to experts like eMarketer in their report on the US Social Network Ad Revenues 2012-2015.
In many cases, outbound techniques can get someone to think about you even if they haven’t thought about you yet, since many of the methods you use should have more of a “wow” factor to make your company stand out. Outbound communication is often highly targeted, with a call-to-action that is very obvious. As a result, good outbound marketing can push someone through the funnel at a faster rate, assuming they are closer to being ready to buy. Inbound alone often does not drive someone to buy. Outbound gives them that extra nudge they need to drive a lead down the funnel.
Pay-Per-Click (PPC) advertising is one of the easiest and most cost-effective ways to generate leads online. Available through popular programs like Google AdWords, Microsoft’s Bing Ads, and Facebook Ads, PPC is exactly what it sounds like: an advertising program in which you pay for each click. Depending on the keywords or phrases targeted, you may pay anywhere from pennies to hundreds of dollars for a single click.
Remember when we talked about lead scoring? Well, it isn’t exactly doable without your sales team’s input. How will you know what qualifies a lead for sales without knowing if your defined SQLs are successfully sold? Your marketing and sales teams need to be aligned on the definitions and the process of moving a lead from MQL to SQL to opportunity before you even begin to capture leads.