The end goal of most marketing campaigns is to obtain leads. Ideally, these leads translate into paying customers. If a business can ensure a steady intake of leads, then they can certainly remain afloat — and profit. This applies to both small and big business, though better lead generation can be especially lucrative for small businesses.
Creating a constant source of leads is easier said than done. When considering the numerous benefits of lead generation, it’s apparent that it’s well worth the time and investment. Six benefits of lead generation, along with some tips to achieve them, include:
1. Showcase Leadership Through Lead Nurturing
Once you get a number of leads, retaining them is crucial. Use their engagement with your business to showcase your own leadership. Since people are likely to spend more on businesses they trust, making customers feel like valued individuals can keep them returning and interested.
There are several ideas for leadership-minded lead nurturing. One is to hold a Q&A session via Facebook Live, where followers can ask questions in real time about your business’s particular field or niche. Another option is to create and upload professional videos, like tutorials, on YouTube, and use your business’s website and social media platforms to promote it.
These types of engagement options show authority and leadership within a respective niche, setting up a level of trust between potential customer and business. It’s an especially important tip for small businesses that may be otherwise unknown at this point.
2. Increased Grasp of Segmentation and Analytics
Analytics and user segmentation should play a prominent role in lead generation and campaigns designed to accomplish it. Such strategies appeal to customers’ innate desire to be treated like an individual when dealing with a business. If customers feel like they are being treated personally, as opposed to being one of many within a mass-targeted mailing list, they are likelier to consider engaging.
Segmented emails get 50% more clicks because they appear more personalized. Having a variety of leads allows you to show your personalization chops, which will appeal significantly to new leads and current customers alike.
3. Minimal Operational Resources After Implementation
A great source of lead generation manages to bring in leads with little tinkering after it is implemented. Even if implementation costs are initially daunting, it’s worth keeping in mind that if a lead generation method seems to work, it will likely keep doing so in regard to sustained long-term leads.
There are few exceptions where a consistent source of lead generation will suddenly dry up. If you come up with great methods for lead generation and pay in time and money to implement them, its initial success will likely result in future success, at minimal operational cost.
A good example of post-implementation lead generation is a pre-scheduled advertising campaign with prior success. For instance, a seasonal campaign that did well last Christmas can be the template for a similar campaign this upcoming Christmas. Target’s seasonal commercials, similar in design and color scheme each year, is an example of this; it works year after year as a source of lead generation. Another example is a tutorial video on YouTube that’s constantly a go-to source for those inquiring about your business’s niche.
4. Consumer Familiarity With Email and Social Media Outreach
Lead generation provides an opportunity for leads and customers alike to become familiar with your business’s email activity and social media platforms. By engaging frequently with followers of an email newsletter or social media platform, you show passion for your respective industry.
Constantly engaging with social media followers, or providing informative articles or tips via an email newsletter, shows you will go above and beyond in your professional sphere.
There are 2.789 billion active social media users in the world. While only a chunk of them will represent your perfect audience for your lead targeting, a 21% increase since January 2016 goes to show social media isn’t going anywhere anytime soon. As a result, maintaining a very active presence on social media and email outreach to new leads will show that your business is committed and engaged.
5. Community Involvement Opportunities
Especially for small businesses who strive to be a presence in the local community, a benefit of lead generation is the community involvement opportunities that arise from it. New leads may inquire about potential opportunities in this regard, and you can gain their trust and confidence by becoming involved.
Taking part in a local fundraising event or setting up a booth at the local fair can provide some great recognition and consequential leads for your business, while also doing some good for the community that’s hosting your business’s headquarters.
6. New Opportunities Transition Seamlessly
Small and large businesses alike can be forced to adapt to changing industry trends and expectations if they envision long-term success. Another great benefit of a constant lead source is that any changes in inventory or approach can be emphasized seamlessly if there’s already a devoted following waiting for clarification from the source, directly.
Any changes to your business, such as opening a new branch or adding inventory, can be relayed without a middleman if avenues for lead and customer contact are running smoothly. One of the more daunting aspects of making changes to a business can be retention of customers. With proper lead generation in place, those worries can be remedied.
Although some degree or change may have to occur regarding targeting and segmenting, the general strategy for lead generation generally won’t have to. These six benefits showcase why lead generation is pivotal for small and big business alike, with ways to achieve them being very realistic for any business aiming to show expertise and passion within their niche.