Lead Generation, Learn to Optimize Your Funnel
Yours are the best product out there but they just won’t leave the shelf? You probably need better lead generation!
HOW TO SET UP A LEAD GENERATION ENGINE THAT YIELDS BIG
Think about it. As a customer, what’s worst than a commercial break? A pop-up ad? Oh, a cold call! That’s got to be the worst.
So what do these things have in common?
They all run on the same (awful) principle: if you want to grab people’s attention, go wave your brand all around, unsolicited, as they go about their daily lives.
Nowadays that strategy will most likely antagonize your audience, not woo them. What you want is an optimized conversion funnel, a structure made for inbound lead generation.
LEADS, YOU SAY?
So what exactly are leads?
Leads are potential customer who are at the very least aware of your brand. Knowing your brand does not mean they are ready to be customers though.
- have been touched by and/or have engaged with your marketing efforts, what we call Marketing Qualified Leads (MQL);
- have taken action towards purchasing your product, what we call Sales Qualified Leads (SQL);
- or have used a free version of your product and shown interest in becoming a paying customer, what we call Product Qualified Leads (PQL).
What we’re doing by qualifying leads is assessing their place in your conversion funnel. The deeper they are in the funnel, the most likely they become customers.
Their place in your funnel is all the result of your lead generation structure. If your business gets too few MQLs, or struggles converting them all the way to buying customers, you need to work on your lead generation.
YOUR CONVERSION FUNNEL: A MODEL FOR GENERATING LEADS
A conversion funnel is a handy way to visualize lead generation. It helps figure out how many strangers become MQLs, then how many MLQs become SLQs and PLQs, and finally how many of those become paying customers.
Everyone who has something to sell has a conversion funnel, whether intentional or not. If it’s not optimized, it’s probably not helping you much, but it’s there.
If you want to get the most out of your marketing campaigns, you need to map out the ideal customer path and use that path to drive healthy lead generation and optimize your funnel. Keep in mind that your goal is for a higher portion of your leads to convert to sales.
Let’s look at your landing pages for example.
When internet users wind up on your website following a Google search, do they end up on a page with valuable content, that turns out to be a dead end? If so, that’s a broken funnel right there. Many paths of the conversion funnel will go through landing pages, so you should design landing pages that are as funnel-optimized as your home page.
“Landing pages: if all paths channelize your leads towards sales, you’re doing it right.”
LEAD GENERATION IN ACTION
Once your funnel is fully optimized, you will see a sales pipeline appear. That’s the imaginary queue of all prospects going through the structure you’ve set up for them. With mindful lead generation management and close tracking, those prospects can now give you valuable data on how to further refine your funnel.
From here on out, there are still many things that can be done to improve your sales:
If you’re tracking your leads closely, you might as well compare the results with your key performance indicators (KPIs). Businesses normally set their KPIs before any marketing deployment as they are quantifiable targets and as such are the perfect milestones. They can be of tremendous help when gauging your lead generation progress.
2. Drip Marketing
A drip campaign is a series of emails scheduled over several days or weeks. It generally yields better results than standard email marketing, but there’s a catch: you need to make sure your drops are not flooding some unreceptive stranger’s inbox. It only works its magic when aimed at confirmed leads.
The vast majority of first-time visitors will leave your website without buying anything. Retargeting campaigns allow you to reach those who have ventured mid-funnel again as they browse other websites. It’s a great technique to improve brand visibility, but it needs a good lead generation structure to hold it.
4. A/B Testing
You can also leverage your lead generation for UX. Use your PQL and your most loyal customers — those who are way down the conversion funnel — to gain insights on preferences regarding their user experience. A/B tests, also known as split tests, are a great way to know your customer base better. Running an A/B test means entrusting a pool of testers with an unreleased product, getting half of them to try version A and the other half to try version B. A quick analysis of the results will tell you which version should move forward.
Your marketing efforts do not convert in lead generation? You think your funnel might need some fine-tuning?
We at EMPOWER might have just what you’re looking for:
- Elaboration of a robust lead generation strategy
- Lead management and efficient tracking
- Marketing campaign deployment
- Landing page optimization
- Active lead funneling
- Retargeting campaigns
Get the EMPOWER treatment now. Sit back and watch as strangers are led down your funnel!