By Abbhinav R Jain
If we compare B2C and B2B organisations, the former has a little over 7% of landing page views to submissions, while the latter has close to 10%. This shows that a higher percentage of visitors to B2C landing pages take action as a result of their sites’ greater ability to resonate with their audience. The higher engagement may be attributed to the consumer-centric content, typically characterised by attractive offers, promotions, and clear benefits.
If reports are to be believed, the lead generation market is expected to grow from US$ 3,103.80 million in 2021 to US$ 9,589.11 million by 2028. It is estimated to grow at a CAGR of 17.5% between 2021 and 28.
Understanding Lead Generation Channels
Lead generation channels refer to organisations’ numerous platforms or strategies to acquire potential customers and convert them into leads. Businesses can contact their target audience and obtain their contact information by using these channels as their means of communication. Email marketing, social media marketing, search engine optimisation (SEO), content marketing, and more are some commonly used lead-generating channels.
Every channel presents different chances for companies to interact with their target market and get insightful information for the next campaigns. Companies can strategically use various lead-generating sources to grow their clientele and achieve significant outcomes.
Diversifying Lead Generation for Growth
Diversifying lead generation is the need of the hour. Casting your net wider across multiple channels can increase one’s chances of connecting with potential clients where they spend their time, both online and offline. One must also remember that over-dependence on one channel can make your lead flow vulnerable to algorithm changes, platform policies, or audience preferences. So, here is how companies can practice diversification:
Interactive Content- Including surveys, calculators, and quizzes in your content is a fun and engaging way to draw in visitors, generate quality leads, and learn more about your target market. These interactive tools link your brand and potential clients, attracting their attention in the process. Through these surveys and quizzes, you can give people something of value or pleasure, encouraging them to engage and voluntarily submit their information.
Micro-Influencer- Reaching out to social media followers through brand collaborations is called micro-influencer marketing. These influencers typically have particular interests, such as fitness or makeup. The best aspect is that it’s less costly than associating with a well-known celebrity. Their followers believe the ideas of these influencers since they talk about things they can genuinely relate to. Therefore, their audience-centric approach can be of great help to brands.
Conversational Marketing- Using chatbots and live chat services to provide your customers with round-the-clock assistance and responses is the essence of conversational marketing. Envision having a helpful support person at your disposal for any queries or issues, day or night. This converts potential leads into paying customers while also making the customer feel important. Together, chatbots, automated virtual assistants, and live chat can offer a smooth shopping experience to your customers.
Personalised Email Marketing- Customers today demand individualised experiences, which is where customised email marketing comes into play. Rather than sending out the same generic emails to everyone, companies are now segmenting their email lists according to various factors such as demographics, behaviours, or interests. They can then correctly tailor their messaging to the requirements and interests of each group. Customers feel seen and understood when using this customised strategy, dramatically increasing engagement and conversion rates.
But how do you analyse the results of the lead generation channel?
Analysing results for any newly adopted strategy is crucial. Here are some ways to measure the results of your lead generation approaches.
Monitoring Data and Critical Performance Indicators (KPIs)
Metrics must be tracked and analysed to determine the effectiveness of your lead-generating methods. These metrics aid in optimising your efforts and offer insightful information about how well your strategies work.
Comparing Lead Cost and Conversion Rates
When doing your analysis, compare lead generation channels’ conversion rates and cost per lead. By evaluating conversion rates in various channels, you may determine which ones are more successful in generating real sales.
Conclusion
When expanding your lead generation strategy, selecting marketing methods that will draw in customers is crucial. These methods may include everything from creating eye-catching websites for the general public to reliable sources for business associates. Next, companies must monitor the results for any changes in the conversion rate and the cost per lead. Use that information to make the greatest tool choices, and watch as your business soars!
The author is Co-founder and COO, AdCounty Media