lead-generation

Lead generation using social media

In January 18, 2017
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Lead generation is a great way to attract and capture interest of people in your product or service and ultimately great way to attract people to your business. It’s about identifying and managing prospects through out all stages of their decision journey. From unqualified leads to satisfied and repeated customers, to advocates.

Are your goals SMART?

First step in lead generation program is creating business goals, SMART business goals. SMART goals are specific, measurable, attainable, relevant and time-bound.

Specific goal is precise, well-defined, clear and for all of these reasons more likely to be achieved. A good example of a specific goal is increase leads for 20% by end of the year.

Measurable goal indicates progress, keeps you on track, it helps you meet deadlines and it gets motivational as you are getting close in achieving that goal. Measurable goal identifies what’s working well that you should keep and what is not working and should be improved.

An attainable goal keeps you realistic. It accounts for your past performance, current resources and capabilities and what you’re competitors are doing so you know what you’re up against. An attainable goal motivates people to succeed because they feel like it’s within their reach. Relevant goal aligns what you want to accomplish with what your lead generation program can deliver. A time-bound goal establishes deadlines, what needs to be done by when. Set your business goals for the year and then breaks them down to monthly or quarterly goals. This will keep you on track and enable you to optimise your program consistently, without having to wait until the end of the year.

How do you determine how many leads you need to meet a sales goal?

Let’s say your goal is 50,000 more in sales this year. The average price of your product or service is 2,000$ and your average lead close rate (when you make a sale from lead) is 10%. What you need to do is multiply your average sales price times your average close rate and calculate the value of each lead you need to generate, which in this example is 200 dollars. Then take your sales goal and divide it by the value of your average lead. So 50,000 divided by 200 equals additional 250 leads you need to generate this year.

How do you estimate the future sales you get through lead generation?

Multiply the average number of leads the marketing can generate times your sales teams average lead to customer conversion rate. This will equal your estimated future sales. So let’s say that marketing generates an average 40 leads per month and the sales team average conversion rate is 5% per month. Then your estimated future sale is two new customers per month.

B2B lead generation using Social media

B2B companies will confirm that leads are the foundation of their businesses, as leads help companies find prospects, increase revenue, and achieve business goals. Thus, figuring out fresh ideas on how to improve lead generation is crucial in staying ahead in today’s ever-changing business landscape.

But how to chose the right social media channels for B2B lead generation?

There are numerous social media platforms simultaneously that can help you increase effectiveness and outreach—with only one condition, that you use each one correctly.

LinkedIn is where most professionals, industry leaders, and even your competitors spend their time, so engaging with LinkedIn can be beneficial in building relationships with your prospects via daily updates without necessarily spamming them. Thus, putting more of your lead generation efforts into monitoring and maintaining this platform is a good idea.

Another social media channel to consider is Twitter. With millions of people on this network, you can deliver specific information in a short yet shareable message, along with links in real-time. While it may not be as influential as LinkedIn, it can help engage with communities and increase your brand presence.

Engagement with your followers is also possible with Twitter. However, frequency plays a crucial role in getting favourable lead generation results due to the short attention span of search engine crawlers and the continual updates by everyone else in the network.

Some B2B companies do not use Facebook for their lead generation efforts, but there are still a good amount of B2B corporations that use it in further showcasing their organization’s culture. More detailed information about particular products, services, events, and other relevant updates are posted on Facebook, which can be complemented with images or videos, too.

Aside from these three networks, there are still other social media channels that B2B marketers can use for lead generation, such as Instagram, Pinterest, and Google+. Each platform has its advantages and disadvantages and some will work better than others depending on your company’s industry and positioning. So identifying the best ones to support your lead generation goals is crucial to getting the most out of your promotional efforts.

I will cover every social media platform in detail in articles to come.

 

 

 

 

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