Common issues with Lead Generation
All companies, whether B2B or B2C, should create some form of marketing plan that includes how they will generate leads. Although specific industries and sectors might face unique problems when trying to generate enough leads for viable business plans, don’t fret: We have you covered! Here is our list of common Lead Generation challenges and strategies on how they can be addressed effectively.
Putting a plan together/cost
As is often recommended, we’ll start from the very start. Crafting an effective marketing strategy and understanding its effect on Lead Generation may prove more complex than initially anticipated – particularly given all of the social media platforms, content channels, and market insight available today.
Cost considerations must also be factored into developing an effective marketing strategy. While Twitter, LinkedIn, Instagram, and Facebook provide free access for businesses, expanding your reach may incur expenses. Some organizations even hire professional marketers, which can become very costly.
A practical solution lies in conducting extensive research. Begin by studying your competitors and adopting your unique approach; once confident, begin to experiment with innovation. Reduce costs by either taking on this role yourself or hiring freelance professionals who can assist. Typically, freelancers have experience creating strategies and directing you in the right direction.
Getting the right attention
Lead generation should always remain your top priority, whether that involves spending time and money formulating an in-depth strategic plan or taking an unfocused approach to lead generation efforts. When first starting out, pinpointing specific audiences can be challenging when your plan lacks detail; businesses may resort to taking an unfocused approach, which hinders their lead-generation efforts.
Solution: Acquire an in-depth knowledge of your target audience and their preferences in content consumption. If a significant portion of them prefer Instagram, take full advantage of it; otherwise, if they choose LinkedIn more, direct efforts there. While expanding your presence across various social media channels can increase overall numbers, taking a practical targeted approach will attract the necessary attention. Many marketers employ a broad, blanket approach when starting out in marketing, which can be effective. Familiarizing yourself with generic strategies may further increase your odds of capturing the attention of relevant audiences – For more insights, check out “16 Best Marketing Strategies to Consider in 2020”.
Improving the quality of your leads
At its core, lead generation should be about generating quality leads – something that may prove challenging for newcomers. Companies often commit substantial resources and time towards this effort but may become disillusioned if their actions don’t yield immediate high-value customers; keep in mind that quality leads do not always translate to instant sales conversion.
Consider these solutions to overcome this situation:
- Enhance the quality of your content. Tailoring it specifically to a target audience will increase its appeal among potential buyers.
- Make sure that the leads you pursue are relevant to your business since seeking leads that do not correspond with your target market would only prove futile.
- Examine your motivations for seeking leads. While financial gains should undoubtedly play a part, it’s also essential that you understand why your company wants these potential customers in its pursuit.
Prioritising your leads/Measuring Lead Generation success
How can we measure success? In theory, success should be defined solely in terms of revenue generation. Unfortunately, that’s often not the case: specific industries and sectors require months for deals to close, and unforeseeable events can arise during that time. Businesses shouldn’t fall for the false notion that outsourcing lead generation will guarantee instant millions – building brand presence takes time, which often results in people abandoning marketing efforts prematurely.
Once your business has amassed leads, the question becomes what to do with them. This can be especially perplexing for smaller firms lacking sufficient resources. With too many leads on hand, it’s easy to become overwhelmed and risk losing them to competitors.
Success for lead generation can vary widely depending on who’s doing it and when. Implementing a tiered system can help gauge its success; categories like “Leads Generated,” “Leads Contacted/Qualified,” “Warm Leads,” and “Leads Converted” provide valuable metrics. Prioritization of leads is also vital if success is to be realized – pre-screening leads can save time by asking basic questions to ascertain authenticity before prioritization begins.
To conclude
No matter the field or area you work in, most businesses encounter challenges when it comes to lead generation. Companies must persist with this effort if they wish to see positive results and reap the benefits. By remaining patient and persevering, you’ll soon reap your reward!
If Facebook is one of your preferred online social networking platforms, take a look at our previous blog on 15 great strategies to increase Likes and engagement on this social network. 15 Ways To Increase Facebook Likes And Engagement