Lead Generation 101: Why It Matters And How to Use

Learn the basics of lead generation 101 for both B2B and B2C setups and tips on how you can make
the best of it.

Lead Generation 101: Why It Matters and How to Use It To Your Advantage

What is lead generation?

Lead generation may be defined as the process of finding and attracting
audiences who may have a need for your product and converting them
into buyers who are interested in what your company has to offer.

The truth is, anybody who develops an interest in any company
or business’ service or product can be considered a lead.

Although this is casting the net widely as each and everyone has their
preferences and a mistake businesses make commonly is marketing
to just basically everyone when the focus should be put on targeting
people who may be specifically interested in what they have to offer.

Simply put, it is converting your visitors into solid prospects and ultimately contented customers.

The difference between B2C and B2B lead generation processes

While the goal for generating leads between B2B and B2C strategies are
the same (to secure new customers), there are some key differences
that we will be touching on in this article.

The first difference is the audience/market size. In Business-to-customer (B2C),
businesses often seek and entertain a much broader audience.
On the contrary, leads in a Business-to-business (B2B) scenario involve a
collective starting from a company’s top management to its employees and
is, therefore, a narrow market.

Business-to-Business (B2b)
Business-to-Customer (B2C)

To add to this, the former targets individuals with their own purchasing power
while the latter goes for companies and businesses like themselves with the
collective power to purchase.

In B2C, your goal is to stand out from the noise of other advertisements.
In B2B, you want to aim to be available and accessible to businesses when
their need for your product or service arises.

Aside from this, a key difference between the two is the existing knowledge
about certain products and services.

In B2C marketing, the priority is to pique your customer’s interest. While
product knowledge is needed, attraction and interest in what you offer are
usually sufficient to get you on the right footing with them. On the contrary,
marketing for B2B requires a good knowledge of the product for you to
prove that you are well-versed and what you do and how it can benefit their business.

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Why is online lead generation important for businesses?

It gives your potential buyers to come to you on their own

With the boom of marketing on B2b social media, customers (and to an
extent, your typical Internet users) are now smarter and more selective about
who and what they give their attention to — especially when it comes to
advertisements and marketing ploys.

Businesses and companies can no longer just broadcast their service or
product to anyone with a social media account. For your audience to hear
you out and choose your brand over others, you have to earn their
time and attention.

One of the most important things to do when seeking out leads is making
sure that you provide value to your potential customer and when done
right, you can use this to your advantage to get your future customers
to come to you instead of the other way around.

It is scalable and sustainable

After you are done creating your lead magnet (the content that attracts
your potential customers enough for them to give you contact information),
you are available and accessible to others 24/7. Your products or services
are available to others through the channels you have created them in
like your website and social media accounts.

A well-planned and well-executed lead magnet will remain on top of its game
and relevant to your mass leads audiences. You may have to update it
from time to time to ensure all links are working, but otherwise,
it provides your customers with information that remains valuable for
months and even years to come.

It filters the solid leads and brings them directly to your website

A solid lead is someone who fits perfectly with your buyer personas and has
shown great interest in your product and service.

When making promotional content, you may wonder how often marketing
efforts turn into sales.

The good thing about a good strategy is that your content speaks for itself
and gives your customers the wheel to do most of the work on their own by
following your lead magnet at their own pace.

Towards the end of the process, you’ll have filtered out the audience who
have the potential to turn into customers by those who have provided you
with their contact information.

At this point, you can be certain you have gained their trust and time.

It is cost-effective

An effective online lead generation is the best way to make use of your
budget in an efficient way.

Much like with most marketing efforts, it costs an advance investment of
not only money but also time. The difference is when done well, your lead
magnet does most of the work for you in converting audiences into sure
customers that leads to direct sales.

Lead generating tactics you can make use of

Some of the most popular strategies businesses use on how to get
online leads are:

  • Content marketing
  • Email lists
  • Paid search (or pay-per-click marketing)
  • Paid social (or social media ads)
  • Influencer marketing
  • Discounts and coupons
  • Newsletters
  • SMS marketing (texting to advertise)

Essential questions to answer in finding online leads

  • Who is your target audience?
  • Where do they hang out/where can you find them?
  • How can you reach them?

In online lead generation, the most important factor is for you to know and
to educate your target audience. This process begins at the top of the
funnel when they first encounter your offer.

Regardless of whether you are marketing B2C or B2B, your potential
customers prefer businesses that can earn their trust by providing them
with content that is valuable to them. They want an experience that is
engaging and provides them with practical insights. In the journey on how
to get online leads, you want to be the business that stands out; the one
they remember and would want to return to. That is the test of a good strategy.