The buying process has changed. Marketers are scrambling to find new ways to reach buyers today.
From old marketing days to this age where digital reigns supreme, the concept of "lead generation" has drastically differed.
61% of marketers reported that generating high quality leads was problematic for their organization in a recent study. With ever-increasing competition for the same shares of consumer attention and dollars, the lead generation game rises sharply with heat in every digital environment. Effective lead generation is now executed across multiple digital channels and is constantly undergoing evolution at a rapid pace.
Through a great deal of content resources (eg. through search engines, social media and other online channels), buyers are enormously empowered with the ability to learn about your product or service before ever having to engage with your sales person today. There are no exceptions. Brands either keep up or be prepared to drop out like flies. Marketers everywhere in Singapore find themselves cracking their brains for newer and more effective ways for their brand to be heard amid all the digital noise in the online market.
Through digital marketing, an expert online lead generation strategy will help capture, stimulate and retain the interest of buyers until the completion of a sale cycle.
In the long run, it will fill your sales funnel with quality leads, and turn them into revenue, propelling your business to the next level expediently all in good time.
Though marketing executives report that lead quality is one of the top priorities for lead generation, it is also one of the biggest challenges they face today. Before we get to the crux of 7 digital maketing components sure-firing your business to success with a solid online lead generation strategy; we emphasize the need for marketers to be aware of the stats gathered below.
Latest, Must-know Lead Generation Statistics
- Most Singaporeans use the internet mainly for research purposes before purchasing products offline. (Google Barometer, 2014)
- Singaporeans from all age group use the internet daily, with 96% of the 25 - 34 age group being the most active.
15 - 24: 93%
25 - 34: 96%
35 - 44: 93%
45 - 54: 75%
(Google Barometer, 2014)
- Singapore has the highest download broadband speed in the world in January 15, 3rd time in a row since November 2014. (Ookla, 2015)
- 80% of the Singapore population (5.5 million) use the internet. (Internet Live stats, 2014)
- 68% of B2B businesses use landing pages to garner a new sales lead for future conversion. (MarketingSherpa)
- Singaporeans who make purchases online still prefer using a computer.
(Google Barometer, 2014)
- Singapore has the highest internet penetration rate in SEA (80%).
- 68% of B2B companies are still struggling with lead generation. (CSO Insights via Lattice Engines)
- Increasing the quality of leads is the top priority for a majority (68%) of B2B professionals, followed by increasing lead volume (55%). (B2B Technology Marketing Community)
Now getting to the crux of planning a successful digital lead generation strategy.
7 Digital Marketing Components For A Successful Lead Generation Strategy In 2017
1. Optimize Your Website To Generate Leads
In this modern day, your website is where all the magic happens.
The key is to optimize your website to convert internet browsers into prospects. We've stressed on this countlessly- the quality of your leads are more important than the quantity of them.
We want all our leads to eventually turn into worthwhile customers.
Now, do you have a strategic website?
We have all seen tons of websites that are beautifully designed, have slick functionalities, portraying a strong sense of professionalis. That's great but not enough.
Time and again, we hear website owners complain and get really frustrated about spending tens of thousands of dollars on web design that don't turn website traffic into leads, sales or the engagement they desire.
Take good time and effort into developing your online forms, Landing pages, Call-to-actions (CTA), layout, design and content.
These are great lead generation web components that can be highly customized to the type of consumer that is being targeted.
Click here to find out more on what consists a strategic website.
2. Get Ranked On Search Engines And Market Content To Attract High Quality Leads And Sales
- 61% of B2B marketers find generating high-quality leads as their biggest challenge.
- Only 5-10% of qualified leads successfully convert for marketers. (B2B Technology Marketing Community)
Getting Ranked On Search Engines: SEO Search Engine Optimization (SEO) sits at the crossroad of art and science. It ensures your audience can find the right content in the right context at the right time.
Search drives results and captures interest.
An SEO-pro website should consists all of the below:
- Site Performance Tracking
- Keyword Analysis
- Competitors Benchmarking
- Link Analysis
- On-Page Optimisation
Well, not a pro in SEO at all? Here.
Prospect buyers won't always end up at your website when they first embark on their buying journey. Hence, you'd need to establish an online presence to be able to cut through all the online noise. What is the best way to achieve that? Delivering high-value content to the correct prospects through a content syndication strategy. You are then able to control where your content appears (eg. on third pary sites).You can also track and deliver leads for content syndicators deliver them directly to your online tracking site or system.
How are leads obtained through a content strategy? You offer your lead prospects trust resources of product/ service information and knowledge in its area of specialization.
Examples of useful content offers:
- Webinars (Live & Archived)
- Industry Case Studies
- New Industry Research
- Free Tools
- Free Trials
- Product Demos
- Coupons Click here to read up more creating online offers. (source: hubspot)
3. Understand Your Sales Funnel
- More than 79% of marketing leads don't convert into sales with the lack of lead nurturing as the leading cause. (MarketingSherpa via HubSpot)
- 2/3 to 90% of buyers may be anywhere in the buyer's journey (sales funnel) before they reach the vendor (Forrester).
Your company might be doing a great job acquiring leads, but why are you not converting them?
That is because your new leads may not be ready to buy yet. If you do not plan your marketing strategies in strict accordance to the difference stages of your sales funnel, you plan to fail. Your leads will get lost, ignored or most frequently, snatched up by your competitors.
How do you prevent that from happening?
You start at a very high level, providing broad information on your industry. Prospects find you without having to search for your specific company name. They begin to think of you as a leader in your space, and come back to your site.
You provide information more and more specific to solutions and then ultimately, your brand, so they can consume at their own pace and see the value in doing business with you.
Good lead generation marketers invest well in lead nuturing. They strategize to usher a customers smoothly from the top of the funnel to the bottom by building relationships and trust; earning the lead's sale only when he/she is ready.
Understanding the process and stages behind a lead generation funnel is critical for marketers to successful move leads gathered from various marketing strategies and efforts to the buying end, ultimately turning them into customers.
4. Leverage on Social Media
Social media isn't a fad. Statistics show that businesses can increase their revenue by 24% when they use social media to generate leads.
Check out more social marketing stats here:
- When making a purchase, 75% of B2B buyers use social media for their decision-making. (International Data Corporation)
- 49% of B2B marketers find social media to be the most difficult marketing activity to implement. (eMarketer)
- Social media lead conversion rates are 13% higher than the average lead conversion rate. (Source: HubSpot via Struto.co)
- According to Quick Sprout, social media's 'lead to close' chances are higher by 100% when compared to outbound marketing.
Today, social media should definitely on every business owner's radar, with the overwhelming number of people, young or old, on social platforms like Facebook, Twitter and other social sites.
Watch this engaging video, '10 Laws Of Social Media Marketing' to get a great social marketing strategy planned and running for your business.
5. Get Your Statistics Right
So, we spend tons of time and money building awareness, marketing our business' products and services. We'd naturally want to get accurate report findings on how they are performing. Remember, data is power.
Are they paying off?
Are we on the right directional track?
Where are the results heading
Are we accruing revenue that's meeting up to standards for each digital strategical intiative
What needs to be improved?
Identifying the web elements that achieves the best ROI for your business allow you to allocate then execute manpower, investments and resources efficaciously.
There are crucial high level metrics that you'll want to monitor for the progress of your online lead generation strategy.
Get through the list of metrics below to decide which are the ones appropriate for your online business!
- Performance Metrics:
Click Through Rate (CTR)
Time to conversion
Conversion Rate (CR)
Average close rate
- Marketing Metrics:
Return On Investment (ROI)
Media Efficiency Ratio (MER)
Marketing Qualified Leads (MQL)
- Cost Metrics:
Cost Per Impression (CPI)
Cost Per Click (CPC)
Cost Per Acquisition (CPA)
Customer Lifetime Value (CLV)
Cost Per Lead (CPL)
- Content Metrics:
Leads generated per offer
Landing page new contacts
Contact conversion rate
With these metrics, monitor your data and track your numbers consistently. Data-driven marketing drives improvements successively, and produces sky rocketing results in the longer run.
6. Get A Successful Email Marketing System In Place
Why are we still sending emails in this time and age? Because it works! Email is the cornerstone of every marketing initiative or campaign. According to a McKinsey Survey, Email remains a significantly more effective way to acquire customers than social media - nearly 40 times that of Facebook and Twitter combined.
Check out these impressive email marketing stats below:
- 1% of consumers check their email daily (ExactTarget).
- 66% of consumers have made a purchase online as a result of an email marketing message (Direct Marketing Association)
- Email marketing has an ROI of 4,300% (Direct Marketing Association).
- Suppressing anyone in your list who hasn't engaged with your emails in over a year increases your deliverability rate by 3-5% immediately (HubSpot).
- 72% of B2B buyers are most likely to share useful content via email. (Earnest Agency)
- In 2016, about 84% of all email traffic will be spam. (The Radicati Group)
Here's another eyebrow-raising fact to consider;
Why Do Every High Functioning Website Today Still Have A Mailing List "Sign Up" Option?
Although the growth of social media is skyrocketing, email remains the almost surefire way to reach people. If your businesses focus solely on building large social media followings as means of staying in touch with your customers or fans, you may find that these platforms can evolve rapidly, but not always for the better.
Are your emails good enough that you wouldn't delete them from your own inbox?
Are you delivering great content carefully crafted through a strategy; have subject line expertise, and a great email template designed to reap more and better sales leads?
We certainly hope so. If not, click here to reinvent your email marketing strategy today!
7. Market Your Events Online Expertly
In today's buyer-empowered world, we need to be seizing every opportunity window to foster relationships and interact with our target prospects, earning the trust and likeability of our customers.
Events provide the avenue to deliver remarkable and impressive content to wow an audience and engage their fervent interest.
It also provides an opportunity to convey your company and brand's throught leadership, values and motives, raising the perception of your prospective buyers' impressionably.
Although we are more familiar having events as an outbound marketing strategy, we must be kept up to date on the digital elements needed to be incorporated for any successful event marketing strategy.
Here are some mindful ways to integrate a digital strategy into your event marketing campaigns:
1. Build A Content Strategy
2. Use Inbound Marketing (not interuptive marketing)
Strategize in ways to earn your event attendee's interest, rather than buying it. In inbound marketing, there are several factors that come into play that will mark the success of your digital event marketing plan.
Identify your attendee's needs, wants and desires for the event, nuture those leads through the stages of inbound methodology.
3. Have A Web Design Strategy
Do you just have a beautiful, modern webpage design or is your online business booted and foolproofed with a web design strategy?
Click here to find out more on how to unlock the power of sales conversion through your website with a full web strategy designed with a proven-to-convert marketing methodology.
4. Create Solid Landing Pages (and know how to optimize them)
Landing Pages can be highly customised to the type of audience that is being targeted.
When marketing and event online, your landing pages should be user-friendly, of high mobile readbility and have concise, straight-to-the-point content. To ensure the most signups or registrations for your event, you need to ensure that your landing page drives the right message home.
eg. through unique selling proposition, a highly audience engaging and interactive video, great content marketing with a solid call to action.
Getting your online lead generation techniques right, acts like a powerful beast fuelling your entire business to improve sales with and in endless scope.
Successful lead generation is the key pillar of digital marketing, working to develop your entire business' sales pipeline.
We certainly hope these digital marketing insights will help you come up with more effective lead generation tactics for higher quality prospects that convert!
Having accomplished that, you can apply a powerful combination of digital skillset to your online business, coupling it with a thorough understanding on conversion optimisation.