The Best Lead Generation Strategies for the Modern Business
Businesses that want to grow are constantly looking for competitive ways to stay relevant. Lead generation is essential for these businesses, as they race to increase brand awareness and grab the attention of users across the busy digital world that we live in. Check out the below strategies to improve your lead generation efforts.
What is Lead Generation?
Lead generation describes every action your business will take to bring fresh consumers to you.
In the modern age, customers are constantly bombarded by ads, media, and other influences. It’s said that an average person makes tens of thousands of decisions per day. Many make at least 200 per day around eating. It’s easy for them to become overwhelmed. Consumers have pain points and you have solutions.
The best way to carry out lead generation, once you’ve built up demand, is by providing customers with value upfront. Too many businesses have promised the world and utterly failed to deliver, so modern consumers have wised up to the snake oil salesmen of old and developed systems, like product reviews and other things to sort the good from the great.
It’s very important for your business to carry out lead generation strategies because you are always seeking fresh customers. Sure, finding new ones is more expensive than retaining them, but you can’t please every customer, so you always need to find more—if nothing but to replace any lost—or churned—customers.
Fortunately, there are countless effective ways to secure information and generate new leads.
Leverage Lead Magnets to Grow eMail Subscribers
Our first tip for generating more leads is simple, create a stellar piece of content, like a workbook or an ebook, then distribute another resource based on it. Maybe a sample, maybe a supplementary worksheet, but something that will help the customer directly solve an issue they face today.
One example would be a company that sells bulk cleaners to a janitor supply operation. The company may be looking to answer the question:
“What’s the easiest way to transport cleaning agents?”
They will probably work on an ebook or an industry report about how much fuel and manpower are wasted each year from storing and transporting liquid cleaning agents, then discussing how powdered or crystalline cleaning agents can resolve those issues.
Since many cleaners are primarily composed of water, it’s a straightforward leap to see how janitorial suppliers would benefit from reducing the weight of their inventory by more than 10%.
The company would then make a checklist of common cleaners that are resold in liquid form, and provide a simple profit-saver calculation at the bottom, based on how many gallons they move per year as opposed to pounds moved per year.
The company would then sell the report for a moderate amount of money, but they’d sell a two-page sample and the worksheet—for the low price of a decision maker’s email address—that directly address part of the issue that supplier faces. Once the supplier has learned a few things on their issue, they are much more likely to purchase from that expert, as opposed to literally any other brand available.
Opt-ins As lead generators
Modern businesses use a process called content gating to extract information from their prospective customers. Normally, that consists of an image, a short description of an item, and an email collection form. Opt-ins are the “input” side of lead magnets or offerings that directly attract leads.
Opt-ins will consistently be used with lead magnets such as:
- These are online presentations or summits that directly address a specific topic, such as, “Solving Cleaning Agent Weight Issues, A Large Barrier To Janitorial Suppliers”
- Report samples
- Reports often attempt to capture the 10,000 foot overview of entire industries, or cover tiny parts of an industry in massive depth.
- Expect to see content that covers multiple angles of a topic, provides actionable insights, and features a Table of Contents to show how content is organized.
- Worksheets often accompany other things (like eBooks) that your consumer may buy. This will add value to those things by providing dedicated information and/or exercises to maximize their positive outcome.
The cost of these content items and experiences is simple—one valid email address per customer. Any other fields are often optional. Those fields are generally optional because pushing to collect too much information substantially devalues the lead magnet. It basically makes that “free” item substantially more expensive. It’s no longer just an email address, it’s other personal info and the time it takes to submit a longer form.
Longer forms are best reserved for repeating customers and customers who are already aware of the brand and know they are willing to invest more time for your solution. They already at least partially trust you, so your offerings are innately worth more. When you collect emails this way, you’re building long-term profitability because you control the email contact list—there’s never an algorithm that will change that.
Social media networks and PPC advertising make an excellent place for businesses to get eyes on their lead magnets. Landing pages are a great place to put opt-ins due to their single-focused nature.
Optimize your Landing Page
Most landing pages fail because they overwhelm the visitor with too much information. One problem, one solution, and a small amount of information—that’s what makes a solid landing page.
Great landing pages do something to catch your eye, then give you the limited amount of information needed to make a choice, right then and there. They also have only one, well-placed Call-To-Action, which removes decision overwhelm and analysis paralysis.
Incentive-Based Referral Programs (IBRPs)
Incentive-based referral programs center on building a community of people who are willing to associate themself with your brand.
When you start offering an IBRP, make sure you have a screening program. Not only do referrers need to love your brand, but you also need to choose whether you work with theirs. Don’t associate with spammy or low-quality representatives, your brand might suffer if you do.
Incentive-based referral programs bring a host of benefits when they are well-executed. They offer easy customer origin tracking, so you can see who your best sellers are. You can probably optimize your marketing a bit more easily with this type of info.
A few best practices for this type of marketing include:
- Create unique referral codes per user or business
- Offer discounts for referred customers
- Choose a smooth and easy operation method.
One common example is PayPal, which grew its userbase by as much as 7-10 percent per day while the program was active. PayPal offered clear incentives with long-term benefits and people loved it.
Develop Your Own Custom Content Stream
Alongside an email list, delivering your own content is an incredibly powerful way to build authority with your market. Several types of content stand out above the rest in the age of COVID. Blogs, Newsletters (72% of people still prefer email to social for CTAs), Masterclasses, and Courses.
Depending on what channels you use to interface with your clients, well-trained or programmed chatbots can provide a really high-quality experience. Beware poorly-managed chatbots, however. They are as bad as not responding.
If you’re looking for a helping hand in generating high-quality leads, the right way, feel free to reach out to us here!