Every year, companies spend billions of dollars on lead generation.
In fact, by the end of 2023 digital lead generation advertising spending in the US is forecast to reach $3.2 billion. But what actually is lead generation?
Lead generation: defined
Lead generation is a marketing method which revolves around attracting potential customers, which can then be used to build a mailing list or provide sales leads. In other words, customer lead generation is the process of collecting names of possible future customers.
As this is an integral part of marketing your company and its products and services, here we consider 6 ways in which your business might improve its lead generation in 2021.
1. Embrace intelligence, analytics and collected data
Collecting data on prospective customers will allow you to figure out what is the key to their heart and winning their custom, provided that it is done efficiently and effectively. It can also help if you are able to use trackable channels which keeps your leads organised so that you can follow up with each one.
For this you might use an analytics engine like ON24 Intelligence, which turns customer engagement into actionable insights that drive demand, inform sales, and optimise programs. Track and analyse engagement at the individual and account level for a lifetime, reporting on results with a single web link.
2. Go for quality over quantity
It is crucial to make sure that you are not wasting your time on unqualified leads – time which could have been better spent with a more promising lead. In this case, focus on quality over quantity, putting your research into practice and only pursuing qualifying leads.
3. Use testimonials or case studies
People are going to be more likely to form a relationship with your product or service if you use emotions to sell a story. Highlight a problem that a lead might have and demonstrate how your product or service makes this easier or solves the problem altogether.
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