Providing quality products and services is critical. That said, even the best products and services on Earth are useless if no one’s going to buy them.
As such, businesses with the most leads win. And even if you have an average product or service, if you have a good stream of leads to work with, it’s still a win for your business. After all, the more leads you have, the more potential for revenue, which helps your business grow.
This is why lead generation is a critical process in every digital marketing initiative. However, since everyone wants leads, lead generation is one of the most complex tasks. What’s more, most businesses commit lead generation mistakes without even realizing it, doing more harm than good.
This article enumerates some of the common lead generation mistakes you may be making that are hurting your efforts and bottom line.
You need to know what you’re selling and what you’re not. Understand your product or service inside and out and ensure that it is a strong fit for your market. Otherwise, don’t expect high returns for your efforts.
In this case, you want to segment your leads by creating buyer personas. It allows you to create different marketing strategies and content aimed at the different expectations and needs of your audience. This allows you to make your messages and creatives more relevant to them.
In general, you need to segment customers based on demographics, geography, and behaviors. For instance, if you’re serving a specific geographic location, you’ll want to focus more on local lead generation strategies that target a local audience.
How you segment customers will depend on various factors including your offerings and which industry you’re in.
Regardless, choosing the right mix of tools and solutions can take your lead generation to the next level. In general, you’ll want to invest in click-to-call widgets, online forms, call tracking software, as well as tools that can help automate your marketing and sales processes that can get things done faster while helping your team focus on more important tasks.
What’s more, buying leads is unethical and you could end up breaking the law. As consumers become more aware of their right to privacy and the value of their data, they may not be that happy when they find out that you’ve purchased their data.
So, instead of taking the easy way and buying leads that are simply a waste of resources and time, take the time to build your lead generation strategies.
As such, when choosing metrics to track, you need to focus on KPIs that clearly show whether or not your lead generation campaign indeed generates new business. These influence click-through rates (CTR), sales, form submissions, conversions, cost per action (CPA), and cost per lead (CPL).
Takeaway
There’s no doubt that leads are the lifeblood of your business. Generating more leads, even when you have existing customers, helps ensure that your business can thrive in an increasingly competitive business world.
To ensure that your lead generation efforts are as efficient and productive as they can be, make sure to avoid the above-mentioned mistakes. This way, you can fill your sales funnel with more leads and push your business toward success and growth.
Featured photo: AdobeStock
As such, businesses with the most leads win. And even if you have an average product or service, if you have a good stream of leads to work with, it’s still a win for your business. After all, the more leads you have, the more potential for revenue, which helps your business grow.
This is why lead generation is a critical process in every digital marketing initiative. However, since everyone wants leads, lead generation is one of the most complex tasks. What’s more, most businesses commit lead generation mistakes without even realizing it, doing more harm than good.
This article enumerates some of the common lead generation mistakes you may be making that are hurting your efforts and bottom line.
1. Targeting The Wrong Audience
Before investing money and time into your marketing efforts for generating leads, you’ll want to determine if your product or service satisfies your target market. Product-to-market fit is critical, helping you understand who your target audience is and whether your service or product can provide value and solve their pain points.You need to know what you’re selling and what you’re not. Understand your product or service inside and out and ensure that it is a strong fit for your market. Otherwise, don’t expect high returns for your efforts.
2. Ignoring Segmentation
You may be targeting the right audience, but there’s another mistake you may be doing—treating them all the same. Almost every business has a few types of customers they need to target differently. Your leads are at different stages of the sales funnel and have different needs, so why would you treat them all the same?In this case, you want to segment your leads by creating buyer personas. It allows you to create different marketing strategies and content aimed at the different expectations and needs of your audience. This allows you to make your messages and creatives more relevant to them.
In general, you need to segment customers based on demographics, geography, and behaviors. For instance, if you’re serving a specific geographic location, you’ll want to focus more on local lead generation strategies that target a local audience.
How you segment customers will depend on various factors including your offerings and which industry you’re in.
3. Not Taking Advantage Of Lead Generation Tools
Thanks to evolving technology, there are various lead generation tools available that can help complement or streamline your marketing efforts. Unfortunately, some businesses often underestimate the power of technology and often rely on traditional, manual processes which can slow down the process. Some may be using a tool that’s not suitable for the needs and requirements of their company or lead generation process.Regardless, choosing the right mix of tools and solutions can take your lead generation to the next level. In general, you’ll want to invest in click-to-call widgets, online forms, call tracking software, as well as tools that can help automate your marketing and sales processes that can get things done faster while helping your team focus on more important tasks.
4. Buying Leads
You’ve probably seen websites offering leads for sale. And while it can be tempting to buy leads to instantly fill your sales funnel, it’s the single worst thing you can do. Buying leads is simply a waste of money. When you buy leads, almost all of them don’t know you, never heard of you, and never care about your offerings. Thus, they’re unlikely to convert.What’s more, buying leads is unethical and you could end up breaking the law. As consumers become more aware of their right to privacy and the value of their data, they may not be that happy when they find out that you’ve purchased their data.
So, instead of taking the easy way and buying leads that are simply a waste of resources and time, take the time to build your lead generation strategies.
5. Focusing Too Much On The Wrong Metrics
Every business initiative and project, including lead generation campaigns, needs a set of metrics that you can use to see if your efforts are producing the results you want. Unfortunately, most marketers tend to focus on measuring key performance indicators (KPIs) that only make them feel good about the efforts but don’t really help the company.As such, when choosing metrics to track, you need to focus on KPIs that clearly show whether or not your lead generation campaign indeed generates new business. These influence click-through rates (CTR), sales, form submissions, conversions, cost per action (CPA), and cost per lead (CPL).
Takeaway
There’s no doubt that leads are the lifeblood of your business. Generating more leads, even when you have existing customers, helps ensure that your business can thrive in an increasingly competitive business world.
To ensure that your lead generation efforts are as efficient and productive as they can be, make sure to avoid the above-mentioned mistakes. This way, you can fill your sales funnel with more leads and push your business toward success and growth.
Featured photo: AdobeStock
