Before we start discussing the processes and platforms for lead generation, you need to understand what a lead means & what lead generation is exactly.
A lead usually is the contact information and in some cases, demographic information of a customer who is interested in a specific product or service.
Lead generation is the initiation of consumer interest or enquiry into products or services of a business. Leads can be created for purposes such as list building, customer acquisition, for sales, etc.
Leads may come from various sources or activities, for example:
- Digital Marketing (i.e. via the Internet)
- Personal referrals
- Telephone calls either by the company or telemarketers
- Offline advertisements
- Sponsors at Events
Digital marketing is growing at such an exponential rate that it has become one of the primary sources for lead generation. Most companies today invest more than 40% of their capital just into digital marketing.
Today we’ll discuss the 1st source i.e. Digital processes & platforms that are most commonly used for lead generation.
Email marketing, SMS, Facebook & Google Ads, Other Social Media, Organic
There are a lot of ways to build an email list, but a lot of people just buy them. They send promotional emails to the list. This can be a source of very cheap leads for their business.
Although we wouldn’t recommend buying a list since most of them are dead lists (people that haven’t been contacted in a very long time). Also, the major disadvantage of buying a list is that your email has a very high chance of going in the spam folder. But every once in a while you’ll come across a list which is able to give you excellent results. It’s a very high risk-high reward type deal.
Email marketing when done using paid advertising or organic methods can be a huge source of lead generation for a business. You should consider building an email list instead of buying a list. You’ll get a chance to actually build a relationship with your audience which will prove very useful in the long term.
You might have already come across some of these ads. Most internet users are on Facebook & Instagram, so around 84% of marketers choose to use this platform to drive traffic and acquire leads. Google is also another platform which is used constantly for lead generation.
One of our favourites for lead generation is Facebook Lead Ads. Lead Ads on Facebook have a very smooth flow. It allows customers to submit their information (within 30 seconds) without ever leaving Facebook. Facebook removes the friction and lowers acquisition cost, providing a much better user experience and hopefully driving more leads for your business.
Google ads have a similar process but they focus more on the user experience. The customer searches for something, they click on the first ad (if it is able to answer the user’s question), they go to a landing page/website, they submit their information. Brands need to be a lot more customer-centric while doing this. They need to provide a lot of value up-front otherwise the customer might lose interest midway.
The upside with Google ads is that the people who do end up giving their information are very high intent. They could turn into your best customers if treated correctly.
You can run paid social ads on Snapchat, Twitter, LinkedIn, TikTok and even Pinterest.
Social Media Platforms (Organic)
Social media can be a powerful channel for lead generation. In order to be successful at acquiring leads via social media, you must invest time and effort in building an engaged audience so you can convert those individuals into leads.
It's important that you know your target market so you can figure out which platforms they use frequently and reach them on those platforms.
When you use social media, you can connect with your target audience, build relationships, and convert your followers into leads. Then, you can maintain a presence in their social feeds until they’re ready to convert and become customers.
You can start doing this on any platform like Facebook, Instagram, LinkedIn, YouTube, Pinterest, TikTok, Blog/Website, etc.
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