Double Your Profit With 5 Tips On Lead Generation
Double Your Profit With 5 Tips On Lead Generation: In our previous articles, we have examined the concept of lead generation, why ignoring your lead generation strategy can harm your business and how to harness your lead generation strategy to yield the right results. Today, we are talking specifically about doubling your company’s profits. There are a lot of things that you need to know about lead generation, today I shall be discussing five of them and how they can help you generate double the amount of revenue for your business.
- Use content marketing to sell your products, services, and business:Click here to generate High-Quality Leads.
In a previous article, we talked about various methods of lead generation. We talked about Social Media marketing, Email marketing, search engine optimization, Content marketing, Email marketing, etc. Of course, you can use all the methods together, but since as a business, you likely do not have access to infinite resources, there is a need to find a lead generation strategy that works for you. One of the strategies that have proven to work is content marketing. If you have good content about your business, you will be able to target more keywords and phrases for your ads and Search Engine Optimization. Also, good content is fuel for your social media outreach. When you create content that people find useful, and which provides information that they need, they will be willing to share their personal information with you, thereby giving you more leads.
Also, content marketing helps you to communicate with your customers and make them feel important. If your customers can see that you respond to them in a timely manner with valuable content, they will not only remain loyal, they will also share your products and services with their networks, and even increase their frequency of buying or the number of purchases they make.
According to an industry report, content marketing costs 62% less than outbound marketing yet generate as much as 3 times the leads and revenue. Another report states blog posts generate 4 times the number of leads that SEO generates. Also, 60% of consumers in the US purchased a product online because they read about it on a website or in a blog post. With these stats, you can see why B2B businesses find content marketing very useful, and you as a business should leverage it too.
- Create A Proper Buyer Persona:Click here to generate High-Quality Leads.
The first step that any business whether a B2B business or B2C business is to create its buyer persona. The buyer persona has been discussed, in a previous article is a “semi-fictional representation of your ideal customer based on your market research about your existing leads.” Buyer personas are a great way to divide your audience. They are also a good way to learn how to create specific content for specific demographics. They can also help the business make proper product design decisions.
When you pay attention to your buyer persona, you are able to speak the right language, develop the right content, and design the specific needed product. This gives you a big advantage in closing your sales and boosting your profits. It also helps you to get maximum value for money on your products.
Also, a well-defined buyer persona increases the quality of your sales lead generation. This is because it gives you a clear and actionable profile to prospect from. The problem that every sales and marketing team faces is determining which leads are likely to be converted, and which ones are likely to be dead ends. When you have a clearly defined buyer persona, your sales marketing team has more time to focus on creating proper content for generating high-quality leads. Even when the lead has been converted, it helps the sales team to know which customers are ripe for retargeting and upselling. It also helps the sales team understand how best to turn a lead into a repeat customer.
- Reward Loyal Leads:Click here to generate High-Quality Leads.
Before digital marketing became a thing, sales were a seller dependent enterprise, i.e. the buyer had to wait for the seller to advertise the products they have available before the buyer can decide what to buy. With digital marketing and the internet, sales are now heavily buyer dependent. Buyers have the opportunity to do their research on the specific products and services they need so that when they register as lead on your platform, they have already sifted out several competitors. Also, even when you finally convert them into customers, you still have to keep them in your buyer’s funnel. A good way to do this is through rewards. Every buyer wants to justify their reason for being loyal to a particular product. When you make them feel special by offering rewards and discounts, you are not only ensuring that they stay loyal, you are also ensuring that they share your products with their networks. Customer loyalty rewards help sales leads to convert to customers, and marketing leads to convert to sales leads.
A good way to engender buyer loyalty is to offer them priority positions on discounts and giveaways or to offer them rewards on referrals. That way they will be encouraged to refer their networks to your products. Suffice to say if every customer refers another marketing lead to you, then you have doubled your sales on that customer. For example, the popular candy company Tootsie Roll generated 702% percent increase in leads when they did a giveaway of their new candy. When the fragrance company, JewelScent launched, they did a giveaway where they put real jewels in some of their products. The company generated 3,431 subscribers and made a profit of over $18,000 in only 8 days. Rewards are a sustainable way of maximizing sales lead generation and business profit.
- Know your industry and Your Niche:Click here to generate High-Quality Leads.
Knowing your niche is very important in any business you do. Even if your business is a small business, you can have an ever-flowing supply of clients if you know the correct way to tap into your industry. In digital marketing, there are usually keywords that are peculiar to niches. So, if you understand your niche, you will, for instance, be able to understand the keywords that are popular in your niche and put them in your ads so that your business will rank high in search engines. Understanding your niche helps you to get what information people are looking for in your industry and to include them in your emails. Understanding your niche also helps you to know what the best lead generation strategies in your industry are, as well as the unexplored areas where your business has a competitive advantage. This puts you at the cutting edge of innovation and gives you the ability to tap into client bases that your competitors might not have fully explored.
Apart from marketing online, it is highly imperative that you participate in industry events and meet fellow industry professionals. Being in industry events enables you to meet the influencers in your industry and leverage on their networks for collaboration opportunities and an increased profile for your own business. It also helps you to get referrals from B2B and B2C business for developing your own product and content designs.
- Experiment, Research, & Test:Click here to generate High-Quality Leads.
This final tip is the process of implementing the four previous ones. The world of B2B and B2C sales has become more competitive since the advent of the internet. Both small and big brands are using different techniques to improve their lead generation and their conversion and sales rates. Therefore, as a brand you must also constantly examine your sales and marketing metrics, to ensure that your lead conversion pipeline does not dry up. For example if you are a company that offers a specialized kind of training, you might find that after people have undergone that training, they no longer have any interest in updates about that particular training, so in that case, retargeting and remarketing to that audience might not result in any lead generation and could in fact cause people to unfollow your emails and drop out of your mailing list. So, you must constantly evaluate the content of your emails.
If you are using web and blog posts as a medium of lead generation, then you must pay attention to your website landing page and your blog posts. You must constantly experiment with new content and keywords for your sales leads. Old content or content that is not useful will only drive your leads away instead of getting them to convert.
Also, it is important you constantly evaluate your buyer persona. Sometimes as the product becomes more popular, your buyer persona might suddenly change, or your product may be useful for another demographic. Your sales and marketing team need to be aware of the changes immediately they occur. This helps them to keep your buyer personas up to date so that the flow of the sales lead generation pipeline is not disrupted.
Conclusion:Click here to generate High-Quality Leads.
As we mentioned above, the internet has made the world of business a flux. It has created an opportunity for brands to collaborate and compete. Thus, to survive, you must be ready to innovate and constant upgrade your goods and services if you want your business to survive the times.