Why Use Lead Generation & Why Is It Important?

For any business, finding and targeting potential customers is an essential process. In order to grow, your business needs to consistently expand beyond existing clients and relationships, finding new audiences who would otherwise not be aware of you. Thankfully, there’s a helpful term we like to use for this crucial process: lead generation.

Why Use Lead Generation?

The process of lead generation is an active investment in the growth of your business. By failing to regularly generate quality leads, you risk stagnation and even depreciation, especially in competitive markets. It’s no wonder then that 85% of B2B marketers say lead generation is their most important content marketing goal in 2016. 

With a clear lead generation strategy matched to your sales and marketing funnel, you can identify not only those who are likely to require your services, but those who are already interacting with you, and to what degree. Building up a bank of customer data will help you better understand how your customers think, allowing you to make informed, data driven decisions going into the future, and convert this initial interest into a tangible opportunity that can be passed on to your sales team.

The outreach element of lead generation is also a crucial component of brand expansion, exposing your business to a vast new online audience through a variety of marketing channels. Consider the fact that lead generation on LinkedIn is successful for 65% of B2B companies. By making yourself easier to be found by potential customers, and at the same time reaching out to those who you believe could become customers, you are maximising your reach.

Use Linkedin Sales Nav’ exstensively: https://business.linkedin.com/sales-solutions/sales-navigator

Who Should Use Lead Generation?

Lead generation is essential to almost every business. However, it is especially important for startups who have not yet formed an established audience, and instead need to seek theirs out. 

By expanding your online presence in order to facilitate better lead generation, you can also build an initial customer base in the process. Your audience might not even know you exist, so businesses that provide certain more niche products and services will benefit significantly from lead generation, as it will introduce you to your customers and start to build the foundations of your online audience.

Why Your Business Needs to Use Lead Generation?

If your business doesn’t have a robust lead generation strategy, you will struggle to grow beyond where you are today, and the risk of losing market share is very real. If you want to take control of your prosperity, it is therefore imperative to have a clear plan for how your business will generate leads, assign or hire individuals or external partners to manage the process and commit to it for the long term.

Without leads, most businesses will lack the sales and customer base needed to grow. 

Here’s three reasons why lead generation can improve any business:

1. Targeting ideal customers  Rather than just blindly promoting your product to anyone and everyone, lead generation allows you to strategically narrow your search lens, targeting only those who have indicated that they may require your services. This tailored and considered approach will save both time and money, and allow you to pursue the contacts that show the most promise.

2. Brand awareness  By distributing outbound marketing content, and placing yourself in positions most likely to be discovered by those who need you, you’re increasing your brand awareness. Lead generation will introduce your business to a wide range of different audiences, across several different online channels and platforms, creating an entirely new audience that you would never have had access to before.

3. Cost effective 

Why burn through your budget hiring and training an entire team to carry out a process that can be done for you? Lead generation companies cover all bases, and devise a bespoke and comprehensive strategy so you don’t have to. Starting an in-house marketing department from scratch requires heavy investment in acquiring new equipment, hiring employees and facilitating their training. Instead, companies can bypass these costs by outsourcing lead generation to third party companies that already have the needed equipment, as well as highly capable and trained staff to handle the task of lead generation.

Lead generation is an ongoing campaign that requires consistent evolution. What works this year may change drastically the next. So it’s vital to stay tuned into the changing trends of your customer base.

By regularly testing and updating your lead gen campaigns, you can ensure you’re getting the best results possible.

If you’re looking to accelerate your business’ growth with sales-ready leads, book a demo with Dolead today.

FAQ

Lead Generation: Frequently Asked Questions

What is lead generation?

Lead generation is the process of attracting and converting potential customers into leads, who have shown interest in your products or services.

Why is lead generation important?

Lead generation is important because it helps businesses to identify and connect with potential customers, ultimately driving sales and revenue growth.

How does lead generation work?

Lead generation works by utilizing various marketing strategies and tactics, such as content marketing, social media marketing, and email marketing, to capture the attention and contact information of potential customers.

What are the benefits of lead generation?

The benefits of lead generation include increased brand awareness, higher conversion rates, improved customer targeting, and a more efficient sales process.

How can I optimize lead generation for my business?

To optimize lead generation for your business, you can focus on creating valuable and relevant content, implementing effective call-to-actions, utilizing lead capture forms, and analyzing and refining your lead generation strategies based on data and insights.

What tools can I use for lead generation?

There are several tools available for lead generation, such as customer relationship management (CRM) software, email marketing platforms, landing page builders, and lead capture forms.

How can I measure the success of my lead generation efforts?

You can measure the success of your lead generation efforts by tracking key metrics such as lead conversion rate, cost per lead, lead quality, and return on investment (ROI) from lead generation activities.

Where can I learn more about lead generation?

There are numerous resources available online to learn more about lead generation, including industry blogs, online courses, webinars, and eBooks.