Businesses do all kinds of things. They provide services and products to consumers. They solve problems. They provide entertainment and food. They help us answer questions about our talents and purpose. And though they often have missions, visions, and values to offer, the core tenet of any business is to make money.
This basic truth ensures that finding new customers is essential to a company regardless of its size, type, or values. From this standpoint, it’s easy to understand why lead generation is such a focal point when any business is exploring marketing in 2022. It’s so popular that SEMrush (a keyword analysis tool for digital marketers) ranks lead generation at 88% difficulty because SO many folks are advertising it to meet the needs of the many businesses searching for it.
Lead generation is a complex topic. This week we’ll start with some basic questions businesses want real answers to.
Is lead generation right for me?
It depends.
Every business needs leads. BUT, lead generation as a term typically refers to a variety of digital marketing strategies aimed at funneling traffic to sites, gathering information (like email addresses or phone numbers), and, possibly, setting appointments.
These are methodologies—not results. So for some businesses, these methods won’t directly apply. For others, they quickly prove to be the lifeblood of an effective onboarding strategy.
How do I know if it’s right for our company?
It depends.
First, consider your own pipeline: What is an ideal prospect or lead for you? What does your sales funnel look like? If you’re selling a product that can be impulse bought, traditional digital marketing that funnels traffic to a storefront might work better than lead generation.
If you set appointments or have consultations with prospects like a dentist or physical therapist, it’s likely a great fit.
For folks in the building and manufacturing spaces who deal primarily with big relationships behind the scenes, there might be a better path to grow success through a bid list or by networking with key decision makers at large potential partners.
What’s a good next step if I’m exploring lead generation?
1. Ensure you’re aware of your sales funnel: Knowing who you want to speak to and how they become clients is integral to the process.
2. Do a little research: 10 minutes online will ensure you know the basics and prepare you for a conversation.
3. Talk with your in-house marketing department or an agency: Ask if they feel lead generation is right for you and be wary of a hard sell—any honest marketer should be able to share the answer, “It depends!”