Companies of all sizes agree that revenue is the key to success.
To grow your business and keep it sustainable, you need to generate revenue and make a profit. The question is, how can you generate more revenue?
Simple: Generate more leads.
Let’s be honest, the process can get a bit frustrating. Imagine spending a lot of time and effort creating content to attract the right leads, only to see minimal results.
Then again, almost all successful companies have been there. That didn’t stop them from getting to the top.
Rather, it motivated them to devise strategies to help them attract more leads. Others took time doing their research just like what you’re doing now. You can say that you’re on the right path!
Why Does Lead Generation Matter?
Before we reveal some of the best lead generation tactics, let’s first talk a bit about its benefits. Understanding its vital role to your business will motivate you to place it at the top of your priority list.
That being said, here’s what to expect when you use the right lead generation tactics:
- Increased Revenue
Basically, more leads mean more revenue. More revenue means a more sustainable business. And, a sustainable business can expect a bright future ahead.
Your leads are your potential customers, and your goal here is to convert them into actual customers. With effective lead generation strategies, you can definitely make it happen.
- Stronger Market Presence
Thousands of companies are on social media for a common purpose: To promote their business to a wider audience.
Facebook, Twitter, and Instagram are the most popular platforms that have helped large and small companies increase their market presence.
By being active and consistent on social media, you’re putting your business on the map. Then, once your audience knows what your brand’s about, you can start turning them into leads and customers.
- Increased Following
Aside from stronger market presence, your regular social media activity can also build following and keep your existing customers engaged. Just be sure to post quality content as frequently as possible.
Plus, you can use your social media channels to launch new products and services, especially with a huge following.
- Target Ideal Customers
With lead generation, you can be more specific of who you want to promote your brand to. You can choose your audience based on demographics, and you can use multiple channels to reach out to them.
- Collect Prospect Information
From preferences, needs, purchase history, and contact information, lead generation allows you to collect important info of your potential customers.
You can then use these details to personalize their experience with your brand. Tailoring your messaging to them increases your chances of turning them into paying customers.
Proven Tips That Will Grow Your Leads
So we’re done tackling the benefits of lead generation. Now, it’s time to shift your attention to the seven different strategies to implement it effectively. Let’s get to them!
1. Offer Coupons or Discounts
Using deals such as discounts or coupons as lead magnets always works when it comes to converting leads into customers.
As their name implies, lead magnets are tools used to attract new leads. They allow you to offer your audience with various incentives, and in your case, irresistible deals.
For instance, if someone subscribes to your mailing list, you can reward them with a discount off their first order. Here’s Biko offering would-be subscribers $15 and access to insider-only discounts:
Image via Sellbrite
Make sure that your offers are relevant based on the needs of your audience. Update them every once in a while, since customers are always looking for fresh new deals.
2. Create a High-Quality Newsletter
Newsletters are another type of lead generation tool you can use to stay in touch with your prospects and customers.
40% of B2B marketers say that email newsletters are critical to success, and we couldn’t agree more. Besides converting prospects, newsletters also help businesses retain customers and increase customer lifetime value (CLV).
Here’s how newsletters can help you sell your products better than other channels:
- Lead magnet
Warm leads subscribe to learn more about your products and services. Hot leads subscribe to get closer to your brand.
- Lead nurturing
Newsletters are a great non-invasive approach for prospects who need more nurturing. Sending them newsletters consistently provides multiple touchpoints and builds trust.
Ongoing nurturing and gentle prodding through newsletters can give you repeated purchases from current customers. Before you know it, they’ll be loyal advocates of your brand.
Bigger shopping carts at checkout, trying new items, and repeat purchases can increase your CLV and business credibility.
Newsletters provide existing customers engagement and value, making them feel more appreciated. In turn, they stay loyal to your brand.
A value-packed newsletter includes the following:
- Compelling blogs
- Special offers
- Updates about your products and/or services
- Visually appealing templates
- Upcoming events
3. Leverage Chatbots
Why not leave some of the lead generation work to a virtual assistant? No, we’re not talking about a person who’s working remotely - but a chatbot!
Chatbots can be an excellent tool for generating leads. The fact that they’re available 24/7 is enough to convince you that they can quickly build rapport with prospects.
Plus, you can set them up in a manner that matches your brand personality. This way, they can function as automated extensions of your team.
Here’s an example:
Image via Lavie Agency
Thanks to chatbots, there’s no need to have someone on-call answering inquiries and booking appointments anymore. More importantly, they’re making lead generation a lot more convenient for you.
4. Create Gated Content
Gated content is material that’s only accessible to Internet users who provide information that’s required from them. In other words, the content is locked unless they do what is told. The only way anyone can get in is by completing a lead capture form.
This lead generation strategy provides audience valuable information for free, while attracting high-quality leads at the same time. That’s what makes it a powerful tool.
Gated content assets usually include the following:
- Online tools
- White papers
Here’s Brendan Dunn from Double Your Freelancing showing you how gated email content brought him over 25,000 subscribers:
Image via Upland Software
As you can see, the focal point of his homepage is his gated email courses, “Charge What You’re Worth.” He sends it to his subscribers as one email per day in a span of nine days. People who are interested to grow their freelance business will definitely line up for this.
5. Develop a Referral Rewards System
Another way to generate more leads without complicating things is through referral marketing. Big brands like Airbnb, PayPal, and Uber have done it - and they still do!
How does it work? Well, you simply have to make a referral rewards system where your customers bring leads in exchange for fantastic perks. It’s just like word-of-mouth marketing - with bonuses!
Remember, people trust recommendations from family and close friends. Encouraging your customers to get the word out about your brand can fill your lead funnel in no time.
In the example below, Uber offers users free rides if they successfully refer their service to friends.
Image via Aero Leads
6. Provide Free Trials or Freemium Products
Potential customers love free trials and freemium products, which is why you should consider offering them one.
Once they sign up, you can shoot your shot and turn them into paying customers. Send them drip email campaigns promoting the benefits of upgraded accounts. Feature sneak peeks of paid features too.
Image via HubSpot Blog
Here, Spotify offers users a free version of their tool to generate leads. The premium version, which comes with all features, is to drive entice users into become paying subscribers.
7. Target Top-of-Funnel Keywords
Using terms and phrases typically searched by interested prospects is a great way to drive them toward your lead magnets. Discover them by conducting keyword research.
Once you find out what these keywords are, you can target them in several ways:
- Come up with a blog strategy around the target terms.
- Create fresh content optimized for the target keywords.
- Guest post on websites with a high share of voice for the target keywords.
- Target the words in pay-per-click (PPC) marketing.
Additionally, you’ll want to develop a solid SEO plan. Doing so boosts your chances of ranking at the top of the search engine results. Being more visible in search means more traffic to generate from prospective leads.
If you happen to live within Miami, you can consult one of their best SEO companies.