Lead generation is one of many processes that can become the lifeblood of a company, from a startup to a large corporation. It’s one of those essential strategies that every founder and CEO should understand. Every company’s method for lead generation will differ. There’s always more than one way to achieve a goal, and that saying applies here.
Trying to figure out and create your own lead generation strategy can be difficult, especially when you don’t have the basics down. Now the basics become relative to your company, your niche, your target market, etc. Let’s take my company, for example, "RS Web Design Agency." At the beginning of starting a business, you think "if you build it, they will come.".
I think this is the attitude that many of us have at the entrepreneurial starting line. It’s not until once it’s built and you have no sales, no prospects, and no leads that you realize you missed a crucial step in the journey. In the beginning, I thought all I needed was a homepage for prospects to visit, and then they would hire my company for our services. Looking back at things now, this is why I had such little luck with snagging clients and leads.
The first step in lead generation is understanding your target customer. I’m sure this isn’t the first time you’ve heard this, and it won’t be the last. People say this because the more you know and understand the person you're selling to, the better you can craft the messaging in your marketing ads, landing pages, cold emails, cold phone calls, and websites.
Knowing their pains helps you present your company and service as the best option to eliminate their pain points. For example, with my company, our focus is on B2B (business to business). With consumers going to a company’s website to get a feel for and understand the brand, the design and experience that users get when they visit are essential.
So I set my focus on targeting small to medium-sized businesses with annual revenue of 250K-500K, and they had to be an eCommerce company or a company that generated a high percentage of their leads from their website.
I knew that in order for businesses like these to survive and generate revenue, they would rely heavily on website traffic and their website user experience. So the pain points of these companies become multiple things; reducing their shopping cart abandonment rate, increasing their monthly website traffic, reducing their website bounce rate, improper sales funnel, copy that doesn’t convert, and the list goes on.
With so many pain points, a solid strategy for inbound lead generation would be to create landing pages around the pain point that affects these types of companies the most. For eCommerce, shopping cart abandonment creates a loss in sales and customers and reduces the lifetime value of those customers. For businesses like doctor's offices, law offices, and pharmaceutical companies, having a high bounce rate and low monthly traffic dries up their pipeline of leads.
This is where landing pages come in handy, not only for filling your pipeline with warm leads but also for nurturing the lead into becoming acquainted with your company and brand via your lead magnet. What is a lead magnet? Think of a lead magnet, like a free item or service that you give away for a prospect's contact info.
Now, with creating a lead magnet, keep it simple, but don’t be afraid to give value. What I did for my company was, besides our landing pages, I also created a free eBook and a free SEO website audit. Be strategic with whatever lead magnets you decide to create. Your lead magnet should inform, provide value, and touch on one of the pain points that your prospect is currently suffering from.
At the beginning of the article, I mentioned how my company’s primary focus is on web design and development. But our lead magnet has nothing to do with either of those things. See, most people don’t know they have a problem until it’s looking them dead in the face.
They also don’t know where they could lose money unless you physically show them just how something as simple as their SEO being out of date and their poor user experience is affecting their bottom line. On the front end of things, our lead magnet teaches and shows the prospects exactly where their problems with their website are.
Following our discussion of these issues, we will discuss changing various aspects of their website that have the potential to ease their pain point while also increasing their revenue. After all is said and done, we’ve gotten the client to agree to at a minimum sign up for our monthly SEO service and, at the maximum, a complete website redesign.
Because we define our web design service as a high ticket, I know that my lead may be hesitant or not see the full value of our service in the beginning. But this is still a win-win for us. Even if we don’t initially get a prospect to agree to a complete site redesign, we’ve gotten them to agree to a monthly service that will yield measurable results. This builds trust and allows us to show how a website redesign will be beneficial to their company, increasing their leads and sales. So building rapport and a relationship with them, a small-priced recurring service, is the bridge to building familiarity, trust, and dependability.
As you continue to build your business, you’ll soon see that business relationships are built on trust and results. Because our clients know and trust us, they can confidently refer our service to other businesses. Lead generation has many moving parts. If you want to always keep your pipeline full, you’ll need multiple strategies for lead gen. Check out part 2 of this article discussing lead generation with cold email and why it’s so effective in next week's article.