What exactly is lead generation?
A lead is any contact that you gained from your marketing activities. This lead can be in many forms like telephone number, email address, cellphone number, etc. Basically, it is an information that allows you to contact the person. Right now, they scope of lead information you can get has increased, thanks to social media. Now, Facebook address is just as important as contact numbers or email addresses.
Lead generation is the process of acquiring those leads. This can be done in a lot of ways. There are many ways of doing lead generation but only a few of these methods are worth the effort. Some methods can be successful but they require too much effort with little returns.
How important is lead generation?
The ability to acquire leads is considered to be one of the most important aspects of online marketing. If you are able to acquire leads constantly, you can have a consistent stream of potential customers that you can contact using their details and other information.
To put it simply, the more leads you can generate, the more sales you can get, theoretically. Of course, there are still many other factors affecting the conversion rate of your leads. However, this is one way of putting it. The more leads you have, the more potential user base you have.
Quality of leads
As said above, there are many factors affecting the conversion rate of your leads. It’s not just the numbers that counts. The ability to acquire leads is nothing if you can’t convert a significant portion of them. This is why you need to acquire quality leads.
Quality leads are leads that is more likely to become your customer or user based on their demographics, preferences, and many more. Quality leads brings more potential and they can be determined by looking at your data and finding out which demographics are more likely to be your customer.
Different types of lead generation strategies
There are many strategies to acquire leads. Each provides different methodology but the end game is the same, and that is to accumulate leads using know marketing tactics.
Paid lead generation
Obviously, paid lead generation would generate more leads more quickly. It can be considered an automated lead generation because it uses technology to determine which demographics you want and give them the information that they need to attract them to your product. Of course, this is done using an algorithm which can either be bad or good, depending on your product.
Free lead generation
Some would say that free lead generation will give your more quality leads because they are more targeted and personalized to each potential customer. However, this may require more effort as you need to know the customers personally. This process is slower of course but the payoff is great if done correctly.
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