Know About The 4 L’s Of Lead Generation

# LeadGeneration

blog

Neha Modgil

Insight 1

Lead Generation can be referred to as a process which involves reaching out to people and creating brand awareness and engagement with potential customers to capture data along with the interest of the customers towards a product or service the brand has to offer. This is very often done on digital platforms like websites, mobile applications etc. Stimulating potential leads into confirmed customers requires strategic planning and layout. A good and effective Lead Generation strategy can really turn any business around for better.

A Lead Generation strategy involves well planned and well executed tactics and techniques to attract and sustain prospects that are rich in quality and eventually convert them into customers. Lead Generation is extremely important for businesses that want to grow and increase their ROI. This helps in building a strong relationship with qualified customers who have the potential to be converted to confirmed customers. A good Lead Gen strategy can help widen the sales pipeline making way for great profits for any organization in the long run.

With changing times the mindset of people has also changed. It is very important for businesses to understand that they have to now earn the attention of their customers they cannot just buy it. Brands have now started to understand that they have to add value to the lives of their customer while also keeping them engaged. This does sound challenging and many businesses have yet to crack the code too.

According to Google, Lead Generation is defined as “A process of identifying and cultivating potential customers for business’s products or services.”

Before we proceed let’s have a look at a few statistics

  • 61% marketers say generating traffic and leads is their top challenge. (Source: HubSpot)
  • Only 4% of website visitors are willing to buy. (Source: Marketo)
  • Marketers who follow up with web leads within 5 minutes are 9 times more likely to convert them. (Source: InsideSales.com)
  • 46% of marketers with well-planned lead management strategies have sales teams who follow up on more than 75% leads. (Source: Strategic IC)
  • 80% of marketers using automation software generate increased leads and 77% convert more of those leads. (Source: VB Insight, APSIS)

It is evident that Lead Generation plays a very important role in any organizations overall growth and profit. Every single tactic, tool, technique or strategy used by brands has an end goal of generating potential and qualitative leads. The above mentioned statistics throw light on different outlooks, complexities and diversities marketers have to pay more head to in order to make their Lead Generation campaigns a success. If brands manage to strike the right chord at the right time with the right strategy, they will surely be successful and take their business to greater heights.

What are the 4 L’s of Lead Generation?

It is believed that one of the most efficient and smart way to generate quality leads for any business is by following the 4 layered approach for generating leads. This can be explained as, attracting and getting prospects, keeping them engaged and satisfied at all times and converting them into buyers and customers. The end result of this is profit and success.

Each of these 4 layers have sub layers within them which may seem to be very complex. But, if understood well and executed well the 4 L’s mentioned below can really help businesses prosper and enjoy profitable outcomes.

1. Lead Capture

There is a very high probability that once a prospect visits a website or application they may not return. The chances of visitors not returning to a landing page or application is very high. So it is very important to capture even the tiny bits of information while they are on a digital portal. But, the challenge is extracting that piece of information from the audience. People are usually not comfortable sharing their mobile number, email id etc. at the initial stage and very often refrain from doing so and end up dropping out. So how do marketers overcome this challenge?

Since people are very selective and very particular about sharing personal information brands should be well equipped with strategies to extract information without asking for it out loud. Yes, “Give before you ask” is the spell many marketers across different domains and industries use to gauge the interest of their prospect before capturing any kind of data. Business must use smart tactics and add some value to the lives of the customers and build a rapport with them before asking for personal information.

2. Lead Magnets

The entire life cycle of a Lead Gen campaign is to first capture leads and convert qualified leads into potential customers and then ultimately buyers. A major problem faced by marketers during this process is very often at the initial stage like capturing leads and generating leads and keeping the audience engaged while doing so.

Lead Magnets are a very effective in keeping leads engaged. Brands must ensure that they engage with their audience at regular intervals and should avoid giving big breaks between their engagement with them. Too much engagement is again considered to be annoying. So how do marketers come to a mid point?

Businesses can use various lead magnets like webinars, tutorials, free trials, e-books, expert advice sections, training videos etc. to capture the attention of users and also keep them engaged and entertained. This can be made available to the audience a little more often and since these are not targeted to the customers directly they do not feel very overwhelmed. Lead Generation Magnets are tools that provide value to visitors in exchange for their personal information.

3. Landing Page Conversion

A Landing Page is very different from the Homepage of any website. A landing page is a marketing strategy for a single page where people land on first after clicking on an online advertisement or link on various search engines. A good landing page must serve multiple purposes which could vary from welcoming customers to keeping them engaged and should also be visually appealing and attractive. This is a huge asset for businesses when trying to generate quality leads. Landing pages are usually designed in a way that they attract visitors and highlight a specific product or service which is of the users interest. The goal here is to provide adequate information about a specific product or service to the visitors and lure them to make a purchase.

Instead of providing information about multiple products and services and making the visitor loose interest in their initial goal, product/service specific landing pages must be created to keep the visitor focused and hooked on to checking the product of their choice.

4. Lead Scoring

Lead Scoring is a marketing automation software component that helps businesses prioritize and filter out leads based on their engagement with the marketing activities of the brand. This enables businesses to identify the leads that are much likely to be buyers. With the right strategy and process in place this can also help businesses identify what their prospects are interested in. Once businesses know what product or service the prospects are interested in they can pitch for that particular product or service and increase the chances of a sale.

In Lead Scoring, brands have to score their prospects. Yes, by monitoring and tracking Lead Gen metrics brands can identify the leads which are worth pursuing. Businesses can assign tasks to the visitors in return for points or scores which visitors could later avail as a discount during their purchase. Depending on what task the visitor completes, points can be allotted. A track of these points can be kept to monitor the interest of the visitor.

In conclusion

The 4 L’s of Lead Generation should be understood and used in a way that business reap the most benefits out of it. It plays a very important role in any business’s marketing strategy. These help businesses not only attract and capture the attention of visitors but also retain them and reconnect with visitors at regular intervals. There are multiple Lead Gen ideas and tactics and many experts are innovating new effective ways to capture leads too, but the 4 L’s of Lead Generation remain constant in every business strategy and model.

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