How Do I Begin Generating Leads?
No matter a person’s contribution to the world of business, it is widely understood that a business cannot get sales without creating a proper marketing plan. Lead Generation is the first step to selling products.
First, What is a Lead?
A lead is a person belonging to your target audience who is interested in purchasing your product or service. This is the beginning of your interaction with a potential customer. In simple terms, the process of lead generation includes attracting people to your product or service, converting them into leads, and converting those leads into customers. When it comes to generating leads, there are several different tactics that you can employ depending on the demographics of your target customers.
Why Is Lead Generation So Important?
Every business requires customers in order to grow. Customers can become potential leads by viewing advertisements through avenues like social media, email, website ads, or direct mail, or even personal referrals. However, an individual does not become a lead until they interact with the business’s choice of lead generation strategy. For example, if a company sends an email advertisement with a level-of-interest survey, and an individual responds with a high level of interest in the product, they are now considered a lead. Simply put, once an individual clicks on a social media or website ad, responds to a direct mail campaign with their contact information, or calls a phone number listed on a billboard, they are a lead. Once a lead has been generated, it can then be passed onto the sales team that will work to convert it into a buying customer, which will generate revenue.
Implementing Lead Generation Methods
Potential customers are faced with more choices than before. Therefore, it is important to stand out among the competition.
Lead Concepts uses engaging phrases and content on their direct mail advertisements to attract the attention of potential customers. Similarly, a vehicle repair shop may pay to promote a social media ad that emphasizes low costs and higher quality compared to competitors.
There is a wide variety of lead generation strategies for companies to choose from. However, analyzing the demographics of your target audience can be a helpful method when trying to decide which strategy to use. For example, a business that sells annuities or funeral insurance may choose to use direct mail as lead generation because their target audience is older. An elderly age group may be less acquainted with the usage social media and email. This group may also particularly enjoy the activity of checking their mailbox every day.
Another crucial component of lead generation is timing. If there is a specific time of year that customers may be more interested in a certain product, the business should choose to enact a lead generation strategy during that time. For example, a Medicare insurance agent or broker may consider direct mail leads during the open enrollment period each year.
Find Out What Works for You
Lead Generation is about finding and identifying what works for your business. Since every business is different, it is important that each individual makes decisions based on their target consumer base and sale goals. Most of the time, it is a good idea to explore various forms of lead generation in order to reach the largest audience possible.
It is important to note that, although technology is advancing, direct mail continues to be the most favored form of advertising among U.S. consumers. Direct mail also produces higher response rates than other platforms according to Epsilon’s 2012 Channel Preference Study and the Direct Marketing Association, at 4.4%, versus email, which produced a .12% response rate.
Lead Concepts has been providing exclusive, high-quality leads from various insurance markets to agents and brokers for 30 years. As a leader in the industry, we can ensure customer satisfaction through high-quality leads and service.
Contact Lead Concepts today for assistance with direct mail and insurance leads 800-283-0187