Lead generation marketing has been around a while now, but still it’s amazing how many B2B brands don’t use lead generation as part of their marketing strategy.
If you’re looking at reasons to invest in lead generation you’ve probably done a bit of homework on what lead generation is and the best ways to implement it in your business so we’ll jump straight into the reasons why you need to start investing in lead generation today.
For the purpose of this post when we refer to lead generation marketing – we’re thinking of it in a digital marketing sense by using tools such as your website, content marketing and social presence to generate quality leads.
Why should you invest in lead generation marketing?
Every player in the lead generation and inbound marketing industry will quote lead generation benefits that are often biased towards their particular interests or niche. Who’d have thought?
Lead generation software companies will say “everyone is online” which is pretty obvious in 2018.
Some lead generation companies will say “it’s immediate and you’ll start generating leads straight way.”
Others will say “outbound marketing is dead”.
All of these really don’t demonstrate the true value of lead generation and some are more true than others – hence the reason for posting this piece.
So, what other reasons are there for investing in lead generation marketing?
1. You’re playing to your strengths
If you’re like most business owners or marketing managers you might not have the sales skills or capacity to cold call hundreds of prospects who have no idea who you are or why you’re calling. With GDPR creeping up on us – some methods of outbound marketing for lead generation won’t be as effective.
By focusing on what you know e.g. your industry and specialist area, you’re playing to your strengths.
The whole idea behind lead generation marketing is to provide real value to a customer at every stage of the buying journey – whether that’s by providing valuable blog posts or helpful emails to nurture prospects when they are further along the buying process.
Hopefully if you’re any good at your job you will know a lot about your product/service – giving you the perfect opportunity to share your knowledge with others.
2. Marketing that scales
One of the biggest benefits of lead generation?
It scales. Digital marketing allows you to measure the effectiveness of your strategy. Using tools like Google Analytics and Search Console you can assess which posts, downloads and content have been the most effective in generating the most traffic and conversions.
Once you know what is effective – do more of it.
It’s pretty simple.
By measuring what is working you can tweak content and produce more of what people are consuming.
3. Long term marketing results
Because the premise of lead generation and inbound marketing is providing value to prospects – you’re not looking for quick sales at the expense of relationships.
You’re focused on developing trust – something which once you have earned is extremely valuable to your business.
Mentioned in the previous point, once you have a successful lead generation formula you can keep producing content that your prospects love meaning long term marketing success. Once you’ve produced a piece of content with the purpose of generating leads, it doesn’t go anywhere – it keeps working for you until people get bored or something better comes along that is better than your content offering.
4. Measurable return on investment
Because you’re using tools like Google Analytics you’re able to measure everything from traffic generated from lead generation tactics, click through stats and conversion rates.
Combine this with a CRM system like Hubspot – you can unlock a whole host of data including:
- Quantity of Sales Qualified Leads
- Cost per lead
- Marketing contribution to sales pipeline
- Enquiry to Marketing Qualified Lead (MQL)
All of these not only help you prove the value of marketing to other functions within your business but they also ensure you’re able to demonstrate a clear return on investment on your marketing strategy. Something vital to the long term success of any business.
What are the options for getting your lead generation in gear?
Now you know more about the benefits of lead generation hopefully you’re raring to go and get some quality leads in your pipeline.
If you are, you have a couple of options – do it yourself or work with a lead generation specialist.
Option 1: DIY (Do It Yourself)
Some businesses choose to implement their own lead generation strategies. Putting together a strategy, producing all of the necessary content and assets before implementing and measuring their tactics.
Why do some businesses choose to manage lead generation themselves?
- Lower initial investment
- Get started straight away
- Learning about lead generation helps develop your team
The downsides of executing lead gen internally can include:
- Having no idea where to start
- Not having the necessary experience or skills
- A lack of time to invest
Option 2: Get someone else to do it for you
When you’re looking to generate leads quickly, some businesses look to people outside of their organisation. So what are the benefits of working with a lead generation expert?
- Dedicated time and resource working on your lead generation marketing
- Proven track record and results
- Up to date expertise and lead generation knowledge
Some people have experience the following downsides:
- A bigger initial outlay (not necessarily with risk/reward based pricing)
- Giving control over to an outsider
- Harder to get sign off from key decision makers within your business
If you’re like most people we speak to at Reward you know you need to generate leads and that investment, whether that’s with your time or marketing budget is essential. Perhaps it’s time to take the leap?