Lead generation is the first stage of digital marketing. If you get it wrong, every other digital marketing strategy you try to execute will crumble because you will be talking to the wrong audience.
Imagine trying to market pork to over 100,000 active email subscribers of Islamic faithfuls in Saudi Arabia.
Think about it.
It doesn’t matter what your click-through rate is or who’s handling your PPC marketing, you will be heading for frustration if you are talking to low-quality leads or the wrong set of audience.
What is Lead Generation?
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Lead generation is the process of identifying and capturing the data of prospects who are interested in a product or service for the purpose of nurturing them to become customers.
Whether you are running a B2C or B2B company, lead generation plays a key role in helping you make the first impression that will make your ideal customers feel at ease to be sold to.
The core essence of lead generation is to turn the prospect to a lead and from a lead to a loyal and satisfied customer.
This is why generating quality lead is more important than just focusing on quantity.
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How Does Lead Generation Companies Work?
In order to keep getting more leads that can actually convert, smart business owners are employing the professional services of lead generation companies.
The job of lead generation companies is to help their clients generate massive qualified leads and nurture them until they become repeat, loyal and satisfied customers.
One of the most effective lead nurturing strategies used by lead generation companies in North America is education-based marketing.
Education-based marketing is a form of content marketing where a business owner markets their products and services to their target audiences by first educating them about the products or services.
The amazing thing about education-based marketing is that it doesn’t look like marketing.
Legendary Frank Kern calls it, “Intent-based Branding” where you help people by actually helping them.
Instead of withholding the solution, give it upfront and make them feel indebted to you.
The 3 Key Steps in the Lead Generation Process Every Business Owner Must Understand
Here are the three lead generation steps every e-commerce expert, real estate marketer and digital marketer must follow to keep generating leads like a machine:
- Lead acquisition
- Lead nurturing
- Lead conversion
What is lead acquisition? It’s the first stage of lead generation where a strategic digital marketer utilizes various techniques to get a prospective customer interested and attracted to a product or service to the point of submitting their data with which you can market to them.
This prospective customer is called a lead.
Now the next question we need to tackle is who a lead is.
What is a lead? A lead is a prospective customer who has shown interest in the services or products provided by a business.
An effective lead acquisition strategy must be solution-oriented. The lead magnet you choose to use should be related to the product or service you intend to promote to your lead later.
You can dramatically reduce your lead acquisition cost (which is all the costs involved in acquiring one lead) by targeting audiences who are most aware of your products and services and what the values they intend to get from it.
Before you can get a lead to purchase your product, it’s expected that you nurture the lead. This takes us to what we call, lead nurturing.
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What is lead nurturing? Lead nurturing is the process of building relationships with your subscribers by educating them, sharing valuable ideas with them and recommending products and services that can help them solve their most pressing problems.
Lead nurturing statistics from Invespcro.com shows that businesses that are proficient in lead nurturing generate 50% more sales-ready leads at a 33% lower cost. They further discovered that nurtured leads make 47% larger purchases than non-nurtured leads.
These interesting lead generation statistics show that trying to sell a product to non-nurtured leads will be a hell of struggle.
As an entrepreneur that truly cares about increasing their e-commerce revenue, you must have a lead nurturing strategy that is guaranteed to work.
The use of email campaigns, automated email sequences and video marketing are some of the lead nurturing best practices every e-commerce business owner should embrace.
Now that you’ve acquired the lead and nurtured it, it is time to make them an irresistible offer.
Until you make your leads an offer, they won’t pull their credit card and wire money to you. That goes to show that the whole essence of lead acquisition and nurturing is to finally convert them to paying customers.
What is lead conversion? Lead conversion is the marketing process that involves turning a lead to a paying customer by making them offers that they can’t resist.
The two most prominent lead conversion strategies I’ve come to learn over the years of running a profitable digital marketing agency are asking for the sale and following them up intermittently in a whole they won’t feel that I’m boring them.
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I don’t use to be that follow up guy. In fact, following up leads used to be boring to me until I began to notice how one extra person made a purchase each time I followed up with another content to remind them about the product I’m promoting.
Lead to customer conversion rate varies from industry to industry. Before giving up on your lead conversion strategies, check what your industry benchmark is. You might be amazed that you are doing above the industry standard.
My Real Estate Lead Generation Strategies
Since June 2019, I’ve been actively helping brands like yours in their real estate lead generation. I’ve been able to master what works and what doesn’t work.
Once I have the video of your property and a few more information I shall request from you, I will kickstart your real estate lead generation campaign. And within 72 hours, you will have more leads than you can conveniently handle alone.
There has never been a better time to generate leads like a machine than now that we have high-converting PPC advertising platforms.
Would you want me and my team to handle your real estate lead generation campaigns? Send me an email now – [email protected]