Know About The 4 L’s Of Lead Generation
Lead Generation can be referred to as a process that includes reaching out to people and building awareness of the brand and engaging potential consumers to collect data along with the customers interest in the product or service that the brand has to offer. This is much achieved on digital platforms such as blogs, smartphone apps, etc. Stimulating potential leads to verified customers’ needs strategic planning and layout. A strong and successful Lead Generation strategy will potentially turn any company around for the better.
It's such a fun and exciting process! Let's explore it together, shall we?
What Is Lead Generation?
A lead is simply a potential customer who has shown interest in your product or service. To generate leads, you need to identify your target audience and craft a marketing message that will appeal to them. Once you've got your leads, it's time to start nurturing them! B2B lead generation is all about building relationships with potential customers. You'll want to stay up-to-date on the latest trends and find ways to stand out from the competition. And of course, always be on the lookout for new leads!
Yes, relying on lead generation is definitely the way to go if you want to keep your business afloat. After all, without a steady stream of leads, how would you ever get any potential customers? And without potential customers, how could you ever hope to increase your revenue significantly?
So if you don't have a lead generation strategy in place yet, now is the time to start working on one! Trust me, it will be well worth the effort in the end.
The Lead Generation strategy includes well-planned and well-executed strategies and techniques to attract and retain high-quality prospects and ultimately turn them into customers. Lead Generation is extremely important to companies who want to expand and increase their ROI. This helps to establish a good relationship with qualified consumers who have the potential to be converted to verified customers. A successful Lead Gen strategy will help widen the sales funnel, making room for high profits for any company in the long run.
Brands have now started to understand lead management & that they have to add value to the lives of their customer while also keeping them engaged. This does sound challenging and many businesses have yet to crack the code too.
According to Google, Lead Generation is defined as “A process of identifying and cultivating potential customers for business’s products or services.”
Before we proceed let’s have a look at a few statistics:-
1. 61% marketers say generating traffic and leads is their top challenge. (Source: HubSpot)
2. Only 4% of website visitors are willing to buy. (Source: Marketo)
3. Marketers who follow up with web leads within 5 minutes are 9 times more likely to convert them. (Source: InsideSales.com)
4. 46% of marketers with well-planned lead management strategies have sales teams who follow up on more than 75% leads. (Source: Strategic IC)
5. 80% of marketers using automation software generate increased leads and 77% convert more of those leads. (Source: VB Insight, APSIS)
It is evident that Lead Generation plays a very important role in any organizations overall growth and profit. Every single tactic, tool, technique or strategy used by brands has an end goal of generating potential and qualitative leads. The above mentioned statistics throw light on different outlooks, complexities and diversities marketers have to pay more head to in order to make their Lead Generation campaigns a success. If brands manage to strike the right chord at the right time with the right strategy, they will surely be successful and take their business to greater heights.
Let’s take a look at the lead generation services & the important 4 L’s.
What are the 4 L’s of Lead Generation?
It is assumed that one of the most effective and smart ways of generating quality leads for any company is through a 4-layer approach to generating leads. This can be described as attracting and acquiring prospects, keeping them engaged and happy at all times, and turning them into buyers and customers. The end result is benefit and achievement.
Each of these 4 layers have sub layers within them which may seem to be very complex. But, if understood well and executed well the 4 L’s mentioned below can really help businesses prosper and enjoy profitable outcomes.
Explore the lead generation process with us:
1. Lead Capture
There is a very high probability that once a prospect visits a website or application they may not return. The chances of visitors not returning to a landing page or application is very high. So it is very important to capture even the tiny bits of information while they are on a digital portal. But, the challenge is extracting that piece of information from the audience. People are usually not comfortable sharing their mobile number, email id etc. at the initial stage and very often refrain from doing so and end up dropping out. So how do marketers overcome this challenge?
Lead capturing is all about guiding potential customers to the right information so they can learn more about what they're interested in. Here are two simple guidelines of lead capture system to follow:
1) make sure potential customers can easily find what they're looking for, and
2) provide valuable information that will help them make a decision.
By following these simple tips, you'll be able to turn curious browsers into paying customers!
Since people are very selective and very particular about sharing personal information brands should be well equipped with strategies to extract information without asking for it out loud. Yes, “Give before you ask” is the spell many marketers across different domains and industries use to gauge the interest of their prospect before capturing any kind of data. Business must use smart tactics and add some value to the lives of the customers and build a rapport with them before asking for personal information.
Here are few important aspects to remember while capturing leads:
Attractive Offer Note
Creative Content & Image
Gather User Contact Info
Followup
Develop Responsive Design
2. Lead Magnets
The entire life cycle of a Lead Gen campaign is to first capture leads and convert qualified leads into potential customers and then ultimately buyers. A major problem faced by marketers during this process is very often at the initial stage like capturing leads and generating leads and keeping the audience engaged while doing so.
Lead magnets are very good at holding leads engaged. Brands must ensure that they communicate with their customers at regular intervals, and they must avoid making significant breaks in their involvement with them. Too much engagement is again thought to be annoying. But how do advertisers get to the centre of the point?
Businesses can use various lead magnet ideas like webinars, tutorials, free trials, e-books, expert advice sections, training videos etc. to capture the attention of users and also keep them engaged and entertained. This can be made available to the audience a little more often and since these are not targeted to the customers directly they do not feel very overwhelmed. Lead Generation Magnets are tools that provide value to visitors in exchange for their personal information.
Let’s look at some lead magnet examples:
Video Training
A video can be a great way to deliver a lead magnet. The video training you offer should be attractive and appealing to a wide range of audiences.
Free Trial/Software download
As a method to attract their audience, several software companies offer free trials of their popular applications. Just make sure the process for downloading or installing the free trial is easy and quick so you don't lose their attention.
Discounts
Offering appealing discounts is a great way to attract new and potential consumers if you own a retail store or sell things online. You might provide a discount club membership or actual discount coupons for purchases. Sending Promo Codes with tempting offers to people's inboxes also works well as a Lead Magnet.
Free Shipping
Free shipping is a great lead magnet! Many customers are worried about paying for shipping when they buy products online. But free shipping can help change their minds.
Survey/Quiz
Many firms provide free surveys and quizzes to new website visitors. This can be a really appealing method of converting people. A quiz can be a fun challenge for anyone and may even persuade them to share their email address. For a better outcome, choose interactive quizzes with a visual appeal.
Guide/Report
Many companies have found success with guidelines or reports. Just make sure your guide or report is visually appealing enough to entice your readers.
3. Landing Page Conversion
A Lead Generation Landing Page is very different from the Homepage of any website. A landing page is a marketing strategy for a single page where people land on first after clicking on an online advertisement or link on various search engines. A good landing page must serve multiple purposes which could vary from welcoming customers to keeping them engaged and should also be visually appealing and attractive. This is a huge asset for businesses when trying to generate quality leads. Best lead gen landing pages are usually designed in a way that they attract visitors and highlight a specific product or service which is of the users interest. The goal here is to provide adequate information about a specific product or service to the visitors and lure them to make a purchase.
Instead of presenting information on numerous goods and services and making the visitor lose interest in their initial target, unique product/service landing pages need to be generated to keep the visitor engaged and focused on checking the product of their choice.
The following are some of the requirements for a fantastic and converting best landing pages for lead generation:
Title/Headline
The headline must pique the audience's interest, pique their curiosity, and provide them with an idea of what you have to offer.
A compelling sub-title
The headline must entice readers to look, but the sub-headline must entice them to stay.
Visuals/Images
A successful landing page has either one strong image or a sequence of appealing images. They must be entertaining and captivating.
Explanation
Provide a thorough explanation of your products and services. Use straightforward language to express what you do, how you do it, and how you can help the audience.
Benefits
You will need to discuss the many benefits of your items for this. Give your value proposition so that one is persuaded to buy yours rather than others.
Trustworthy testimonials
Your landing page should have a few genuine, credible testimonials from actual customers or consumers. To increase credibility, the testimonials can be combined with photographs of real people.
4. Lead Scoring
Lead Scoring is a marketing automation software component that helps businesses prioritize and filter out leads based on their engagement with the lead generation marketing activities of the brand. This enables businesses to identify the leads that are much likely to be buyers. With the lead scoring system and process in place this can also help businesses identify what their prospects are interested in. Once businesses know what product or service the prospects are interested in they can pitch for that particular product or service and increase the chances of a sale.
In Lead Scoring, brands have to score their prospects. Yes, by monitoring and tracking Lead Gen metrics brands can identify the leads which are worth pursuing. Businesses can assign tasks to the visitors in return for points or scores which visitors could later avail as a discount during their purchase. Depending on what task the visitor completes, points can be allotted. A track of these points can be kept to monitor the interest of the visitor. Let’s look at lead scoring process & important aspects:
Determine lead sales readiness
This is an approach shared by both sales and marketing teams that allows you to target and contact leads that are about to make a deal. It also enables firms to nurture leads who are not yet fully prepared while discarding those who are completely uninterested.
Make a checklist
You must develop an ideal buyer profile, which will necessitate the work of both the sales and marketing departments. To gain a complete image of all the lead's worth, you must employ both the implicit and explicit scoring methods.
Conclusion
The 4 L’s of the Lead Generation should be understood and used in such a way as to make the most of the benefits of the company. It plays a very important role in the marketing strategy of any company. They help companies not only attract and catch the interest of tourists, but also maintain and reconnect with visitors at regular intervals. There are many Lead Gen ideas and strategies, and many experts are innovating on new and successful ways of catching leads, but the Lead Generation 4 Ls remain constant in any market strategy and model.