4 Harsh Truths about Lead Generation That Will Make You Burn All Your Plans
Lead generation is important for any successful business. When you start implementing your marketing strategy, you start getting inbound leads. Infact, at first these are visitors. Through anonymous lead tracking and monitoring, you can start sending out relevant ads and content. While this anonymous chunk will form about 98% of your traffic, there are visitors that will become leads almost instantly. Whatever it is, relevant marketing and content are the key to generating potential leads that will later become your loyal customers. It can either start with nurturing anonymous visitors and converting them into potential leads, or directly begin with lead nurturing.
Lead Generation Myths: Busted
Lead generation is easier said than done. If only your leads would come into your marketing funnel hassle-free! While this takes a lot of content marketing across multiple channels, it also comes with a bundle of misconceptions that hold back marketers.
These lead generation misconceptions that hinder most businesses from generating quality leads for their business includes using only one lead generating channel, having a slow and underperforming landing page and not perform A/B test on it, not using content strategy for your product launch and not retargeting your audience.
#1 Having only one channel to collect leads
Having only one channel to collect leads is like packing all your eggs in one basket. If anything happens to that basket, all the eggs are gone.
Do you remember the Google updates – the Panda and the Penguin? It ruined many businesses that were dependent on Google search engine.
Having only one channel to collect leads can also mean leaving money on the table. You are leaving out several opportunities to collect leads. According to Ascend2 state of Lead generation survey report, there are seven (7) effective strategies for lead generation as shown below:
There are many benefits of using different channels to drive leads to your business. Having multiple channels of lead generation will enable you to know the right channels that will bring you most qualified prospects at the lowest customer acquisition
When you have multiple channels, it will help you to be where your customers are, thereby increasing your conversion rates. Research shows that 97 percent of marketing professionals saw a revenue boost after implementing multichannel marketing.
However, not all these channels are created equally, you need to find the ones that work for your business so that can you can maximize your returns.
#2 Having a slow and underperforming landing page and not perform A/B test on it
A landing page is important in generating leads for your business. It is the page you drive visitors to, to convert them to leads and prospective customers. It’s main purpose is to help you convert your web traffic into qualified leads.
A good landing page should increase your conversion rate. According to searchengineland.com, the general conversion rates are 1%. However, landing pages help top 25% companies score an average rate of 5.31% or higher.When you have a slow and underperforming landing page, your conversion rates will be very low. Click To Tweet
A landing page is touted as effective only when it loads fast and smooth. A landing page that loads slowly will have lower conversion rates. A landing page that loads faster will have higher conversion rates because the faster it loads, the easier it is for your visitors.
Do you want know more about this topic? Discover the anatomy of the perfect landing page here!
According to a Kissmetrics infographic, if your page load time hits 4 seconds, you’ve lost a fourth of all visitors who are potential quarter of conversions.
If you don’t want to lose your prospective leads and customers, you will need to a/b test your landing page.
A/B testing your landing page will help you to know the basic elements that are not working as they should and better optimize them. According to E-consultancy, of companies that see large increase in sales, 71% tested multiple landing pages. Therefore, you need to a/b test your landing page.
So, what are the elements you should A/B test on your landing page?
You should A/B test your:
- Call to action
- Page traffic
- Page design
- Page loading speed
Let’s look at a case study from Mozilla.
Mozilla gets tons of downloads, but they still wanted more. So, they set off to see what they can improve to encourage their web visitors to download more. They decided to test their landing page load speed.
Before this test, the landing page was really slow. In fact, their download button does not show up until after 7 seconds. That was what their visitors had to deal with. When they noticed this, they decided to carry out an a/b test. They were able to remove 2.2 seconds off the average page load time. This increased their download conversions by 15.4%.
This is the reason why you need to always a/b test your landing page elements to increase conversions.
#3 Not planning a Content marketing strategy for your product
Content marketing is an effective strategy you can use to generate leads for your business. In fact, 85% 0f b2b marketers say lead generation is their most important content marketing goal in 2016.
As good as it sounds, if you don’t have a content marketing strategy in place for your product, your level of success will be low.
According to Content Marketing Institute research, content marketing strategy is one of the contributing factors that can increase your success.
A successful content marketing strategy includes
- An understanding of the target audience: A good content strategy includes having the right understanding about the audience that will buy your product. An infographic created by Accelerated consulting group will help you to know your audience:
You will answer the questions in the infographic above and use it to create valuable content for your audience.
- Content format: Your content format can be blog posts, e-books, video content, infographics, webinar, mini-course, Social media content, etc.
- Content distribution: You can share or distribute your content on the social media networks (Facebook, Twitter, LinkedIn, Pinterest, G+, etc), forums in your niche, etc. Engage with your audience as they comment on your blog posts and on your social media channels.
- Measure your results: Track the result of your content marketing efforts using metrics like view and click rates, comments and responses, leads generated, sales, etc.
Content marketing will help you to build awareness for your product, drive traffic to your product website, get visitors to subscribe for your emails so that you can nurture them with relevant content and convince the leads to buy your products.
#4 Not doing retargeting
The thing is, not all web visitors that come to your website will convert. However, you can maximize the opportunity by bringing them back to your website through retargeting. The goal of retargeting is to bring back your visitors so that they can probably convert. It works like this:
A visitor lands on your website or maybe your landing page, but does not convert. You then add a pixel to their browser to follow them with ads around the web until they come back to your website to convert.
Retargeting is very effective because:
- 98% of people who visits your website will bounce off before buying anything from you.
- You need 6 to 8 touch points to generate leads and sales.
- 2% of consumers who visit your website for the first time convert. Retargeting will help you to attract the remaining 98%.
- On average, retargeting ads are 76% more likely to be clicked on than a regular old display ad.
The reasons above are why one in five marketers now have a dedicated budget for retargeting. You can retarget your website audience on Facebook, LinkedIn, Quora, CRM, Google AdWords, etc.
A good example of a Facebook retargeting ad is from Kelley Blue Book, a service that tracks prices of different old and new vehicles in various conditions. When a visitor clicks on the website, they can visit different pages to check out cars in different conditions. What they do is to create a retargeting ad on Facebook. Since almost everyone is on Facebook, chances are most visitors have Facebook accounts. So, they target visitors based on the pages they visited and serve them ads on their Facebook feeds. Check out an example below:
Above are four misconceptions about lead generation. Instead of generating leads from one channel, use multiple channels to enhance your conversion. Optimize your landing page speed and use a/b test to further increase its conversion. Create content marketing strategies for your product and use retargeting ads to bring back lost visitors.
Are there any other misconceptions about lead generation you are still struggling with? Tell us in the comments.