Finding ways to improve your return on investment (ROI) on your lead generation campaign is an essential marketing strategy. Luckily, altering your strategy doesn’t mean having to make significant changes to start seeing results.
The right lead generation strategy is essential to the long-term growth of any company. Without lead generation, your team may wonder why you’re failing to meet sale goals. You could have the best product or service in the market with a strong price point but none of it will mean much if you don’t have a system in place to generate leads.
Oftentimes, minor modifications to your lead generation strategy can increase sales and have an impressive impact on a company’s success.
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It goes without saying, a lucrative return on investment is the ultimate goal of lead generation and it signifies that a proper strategy is working. Lead generation isn’t exclusive to getting a high volume of prospects into your sales, the efficacy of a properly implemented strategy is also very important.
So, what exactly can companies do to improve ROI?
If those billboards, ads, and TV spots aren’t yielding the return on investment you’re looking for, changing your marketing efforts might be the right move. Lead generation can be a great way to increase your company’s profitability. Whether that means generating legal leads on your own or working with a third-party lead provider, we’ve put together some of the top strategies for how lead generation can increase your revenue.
Set a plan with clear company goals
Setting clear goals for your company means aligning marketing objectives throughout the company. Involve the sales team to make sure sales and marketing strategies run smoothly and have the same objective. Ensure your metrics are quantifiable and pay close attention to progress. From the top, focus on delivering quality over quantity and make sure measures are taken to expedite progress after identifying fields that might need improvement.
Before starting a campaign, companies should have a plan to guide their actions. Considering the following questions before implementing your plan:
- Who are your targets and prospects?
- Where are they located?
- What will the frequency be?
- Is your budget enough?
Getting organic traffic to your website is like having customers walk into your storefront. By increasing your rank on search engines, you’ll have waves of potential leads landing on your website, which is a cheap alternative to paid ad services. A big advantage of ranking organically on search engines is once your website is optimized for search engines, minimal work needs to be done in the backend to maintain a profitable pace of leads — it’s all about getting there.
ROI tends to take longer with organic searches as the campaigns tend to be slow to start, meaning your company will have no returns for a while. With lead generation, businesses can immediately start generating revenue as soon as they invest.
Create quality evergreen content
Content is the currency of marketing. Content helps to build up credibility and increases your reach and exposure. Instead of creating content just for the sake of it, focus on evergreen content, pieces that will do well over a long period of time and improve your search engine rankings.
Content frequency is also important to any publication or business. Publishing content more often shows the target audience a company’s commitment to providing them with valuable posts that address their concerns. According to t a Hubspot study, companies that publish blog content 15 or more times a month generate over four times more leads than companies who publish a maximum of five posts per month.
Hubspot says B2B consumers read (or watch) three to five pieces of related content before contacting a salesperson. Produce more content more often so you can cater to your audience’s demands and reap a great ROI.
Individualize social media interactions
The average person has seven active social media accounts and spends nearly three hours a day on them. Companies looking for a greater return on investment should take advantage of all that social media time. Be active and consistent across the social media platforms that are good for your business and don’t rule anything out. Do you think you have an interesting angle on TikTok that can drive leads? Give it a shot. It’s recommended that a business has three or four different social media channels to promote your brand. The ones you choose should obviously depend on who your target market is and where they digitally hang out.
Hashtags on Twitter and Instagram are a great tool to connect with like-minded individuals and brands. LinkedIn is the clear leader for B2B networking and it has impressive traction as a B2B lead generation network.
Be sure to personalize your social media interactions to reinforce that there’s actually a human behind the screen. Personalized requests, messages, and interactions are great to cut through the initial prospect of spam and non-sensical marketing. The best social media results come from being an active member of the digital community.
Be active with online reviews
If your website doesn’t have a testimonials page or a reviews feature, it might be worth considering some. A study by RevLocal, a digital marketing agency based out of Ohio, found that over 90% of consumers read online reviews when considering a product or service. Reviews help to build consumer trust, improve search ranking, and ultimately improve conversions. RevLocal says that consumers are likely to spend 31% more on businesses that have good reviews.
Review and analyze your data
Speaking of reviews, reviewing your own in-house data can help to determine behavioural changes in your client’s personas so your company can adjust accordingly. Improve your market research, data gathering, and overall analytics to determine your ideal audience, where leads are coming from, which method is generating the most leads, and which leads are converting into sales.
When it comes to ROI, metrics and numbers don’t lie. Use data to identify trends and learn from them constantly.
Stay on top of Google
Getting your company on the first page of Google establishes your company as an authority. Search engine optimization (SEO) is all about relevance and landing on the first page is a powerful asset to your brand. High-ranking search engine companies will be able to see a good ROI.
A good lead generation strategy is a catalyst to the long-term success of any company. For your campaign to produce the desired results, organize your strategy to attract high-quality leads and a beneficial return on investment. The quality of your leas will influence your ROI’s quality. It’s integral to attract relevant people who interested in what it is your company is selling.
Start by implementing a few of these lead generation strategies and keep up to date, ensuring the lead generation tactics can be translated into sales.