How to Maximize the Results of Your Lead Generation Efforts – Develop Your Lead Generation Strategy
What are the specific goals of your Lead Generation Program? Answering this question may be a good place to start. But is it enough? You have probably been asked the question: How do you know if you have arrived if you haven’t determined the destination? This article takes it to the next step and helps you define the mode of transportation and the specific route. Completing this exercise will save time and more importantly, improve the results of your lead generation efforts.
1. Calculate the number of leads you need to fill the pipeline.
You may be thinking, “We Need As Many Sales Leads as Possible.” That’s a sure way to fail. Develop a realistic number if possible and get management on board. This may be difficult to determine if you are introducing a new product or service, but for existing offerings, it requires metrics. You will get a good idea of what metrics are important to track as you calculate the desired number. Marketing and sales should work together closely in this exercise.
2. Identify the target prospect.
Title: It’s not always better to target the senior management titles in an organization. The downside is they are much harder to reach and get their attention. We’ll leave the detail of that discussion for sales training. For the scope of lead generation, the title you desire will have a direct connection to the lead generation process. The closer you can get to the recommender and the decision maker the better.
It is also important to define the Geography and Target Market up front. You’ll need this information for subsequent steps in the process including selecting lead generation mediums.
3. Define appropriate budget.
There is no magic formula to use in developing a budget for your business. It should support what you are trying to do with the business as defined above in the goals section. A marketing budget can vary from 5% of gross revenue for an established product to 25% or more for a new product/market or region. It usually takes several iterations to finalize the budget. Marketing would be much easier if you had unlimited resources and budget. But if your company is like most, this is simply not the case, particularly in a tight economic climate. Your deployment strategy needs to be designed to maximize the results for the minimum investment.
4. Capture the attention of the target audience.
The messaging required for an effective marketing program is often overlooked. First you have got to understand the pain the potential buyer is experiencing and provide a clear path to relief. The best way to find out what keeps your prospect up at night is to ask them. Survey your customers if possible. Another effective avenue to information is through the people who communicate with prospects on a daily basis, i.e., the sales people. Once you find out what problems your prospect needs to solve, you can begin to formulate your messaging.
Your messaging needs to address the prospects pain and clearly differentiate your offering from your competition. Ask the question “Who else can say that” in every point of your message. Be sure to back up the claims with the proof statements to maximize the results.
5. Find the source of the best lead profile.
This step cannot be completed without input from the other sections. You need to know the target prospect, geography and market before you can zero in on the lead generation source. Also, you will have to take an inventory of your current database of prospects, lead generation tools and offers. For example, if you are planning to use a free report or white paper as a lead generation medium, you will need to find the best hosting site to attract your target prospect.
6. Select the best lead generation mediums to deploy.
Focusing all your energy on one method of lead generation is not a recommended approach. This may limit the overall effectiveness of your marketing program. A multi-faceted approach tends to produce more buzz in the marketplace and therefore can improve the overall results.
There are dozens of ways to generate sales leads. In a recent article we listed 16 of the most effective marketing mediums that you can use to assemble your deployment strategy. Also included is the authors experience in the best application of each as well as its effectiveness in a B2B environment.
7. Maximize the opt-in ratio.
It is not enough to get the lead to a page on your website. You need a well thought out Opt-in Strategy. Remember, the lead generation process is not complete until the lead Opts-In to your list. Capturing their attention is only half the battle. Your landing page and bonus offers must be compelling enough to complete the task. Jon Miller of Marketo reports “as high as 200% improvements in conversion rates,” by optimizing the landing page.
Summary
The first activity will be to develop the overall Lead Generation Strategy. This is a critical step in getting everyone expectations aligned. Completing this exercise will save time and more importantly, improve the results of your overall lead generation efforts.
Clayton Blaylock is a principal of ReVision Marketing, a marketing solutions services firm focused on helping professional services and software businesses generate more pre-sold leads with NO COLD CALLING. He is the author of Lead Development Formula, a self paced coaching program for learning how to harness the power of to the internet to attract and pre-sell B2b Leads. For more information go to http://www.revisionmarketing.com/lead-development-formula.html or e-mail cblaylock@revisionmarketing.com.
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