Today you are going to learn what is lead? & How to generate leads?
In fact the strategies I’m going to share with you helped us to reach 500 customer trials.
Let us first understand What is a Lead?
A lead is an individual who is yet not a customer but there is a possibility that he will buy from you.
Why it is important to know the definition of Lead?
We feel any individual who has shared his contact details and shown interest in buying your product is a lead.
If that is the case, then with every lead if you talk in the same manner and words will result in a purchase. We all know that is not the case.
Whenever we define lead, we need to define lead stage as well.
We have explained Lead Stages in this blog. Presently, let me explain you in a simple form.
Understanding Leads Stages will help you to generate more leads.
Supposingly, you want to buy a car.
When you are 120 days away from buying a car , you are at Problem Aware Lead Stage.
When you are 7 days away from buying a car, you are at Product Aware Lead Stage.
At Problem Aware stage, you’re mental mind is thinking how smart you would appear driving the new car. Will the car impress the neighbours?
At Product Aware Stage you’re thinking what discount can I get? What extra items will I get?
If you want to improve your lead conversion ratio, you need to engage more prospects.
You can engage more leads , if your messages are aligned to lead stage.
What is Lead Generation?
The process by which strangers share their contact details with you and shows an interest to buy your product and services. That is called process of Lead Generation.
Predictable Lead generation is the most important element if you plan to achieve predictable revenue system.
There are 7 ways to generate leads:
- Marketing by teaching which is also called Content Marketing. This method generates B2C leads and lower value deals for B2B companies.
- Word of Mouth method of lead generation. This generates high quality leads but very tough to influence.
- Knocking strangers via call or via emails.
- Building channel Partners. It is very high value but it takes very long time to result.
- Public Relations and Press Releases. It is once in a while and not a continuous process of lead generation.
- Google or Facebook Advertisements. This is one of the fastest method to generate leads.
As a start up entrepreneur or a SME business owner you will like to generate leads faster.
Ideally, you will want to faster master the short term lead generation process.
Once that is predictable and repeatable, you will want to master long term lead generation process.
Are you a B2C company?
Do you want to further deep dive on how to generate leads in short term in your industry?
You can choose the relevant article below to learn more.
- Real Estate Lead Generation Ideas for New Agents.
- How to Find Travel Leads?
- How to do Education Marketing?
What is the process to generate leads fast in next 60 days?
The first mindset that I want you to suggest is focus.
Don’t practice too many things.
When you practice , you don’t get expert in any.
You can’t practice predictable lead generation.
You get success in one day, but you can’t replicate.
So focus on channel of lead Generation.
Which is best Lead Generation Channel?
The best lead source is the one that generates leads that are in the Product aware stage and not other stages like solution aware or problem aware.
Google Adwords is a channel that is best suited for short term lead generation.
What are the myths behind Google Adwords?
- Many people say that it is very expensive. Our view is that , it’s very cheap. You don’t need any sales person to generate lead. You can suggest budget the salary of one salesperson towards google ads. With that budget google adwords will generate so many leads that you would need 5 sales person to match it. Though investment on sales person is not guaranteed to reap results but Google does. This is the benefit of google adwords. The next closest channel is Facebook. But Facebook generates too many leads out of which only 20% converts. With google adwords 50% plus leads converts provided you do it rightly. ( Don’t worry we will teach you and handhold you to execute google adwords strategy effectively.)
- We need to outsource to an agency. Exactly this is where it fails. This is why google adwords becomes so expensive. You can do it yourself. Rather you must do it yourself. Generating leads for your business is one of the most important element for your business. For your career and your family’s. You must do it yourself. I assure you, that we can teach you all the aspect of it. It’s very simple. We teach you all this with a step-by-step Google Adwords Tutorial.
How to Convert Leads to Cash?
Can you ever pass by a leaking tap without closing it?
You do it because you can see water getting wasted.
Many people can’t see leads getting wasted.
So they try to manage it using excel or diaries.
You need to follow a lead with in 5 mins. Otherwise you’re chances of losing the deal is very high.
That is where you need automated capabilities like :
- Automated Lead Capture.
- Automated Lead Distribution.
Otherwise all your effort will go waste.
That is why you need a Lead Management Software.
A Lead Management Software can improve your lead to cash ratio from 30% to 65%.
- How well are you trained on using the software?
- How nicely the software fulfills all your use cases?
- How frequently are you using the software?
You can book 15 days free trial of Imaginesales CRM.
We can challenge and prove we are one of the best Lead management software provided these 4 situations are there:
- You are located in India.
- In order to convert leads you principally reach them via phone.
- You want all calls to be recorded.
- You want all whatsapp communication and emails and sms to be stored.
You can also read our comparison with Leadsquared CRM.
What do you think?
It’s now your turn.
I will like to know what do you think?
Have we not addressed any particular challenge of yours?
Let me know by leaving a comment below right now.