3 Steps to Establish an Effective Lead Generation Plan
July 15th, 2021 by Brian Suerth
Lead generation has a vital role to play in any well-oiled business growth program. Numerous marketing experts are of the opinion that generating enough high-quality leads is perhaps the biggest challenge faced by B2B marketers.
We have found 3 steps to establishing a winning lead generation strategy.
Step 1: Defining Your Goals and Objectives
For starters, you should define your business's key objectives for lead generation. To do so, stop and have a look at your target audience’s buying stages and decision cycle.
Now think about whether you need a 2-step sales process. A 2-step sales process signifies that your marketing program will nurture and generate leads while your sales team helps close sales. You could also consider whether your online lead generation platform can close sales in just one step.
In either case, make sure to define your objectives for lead generation depending on your sales team. Think about how many leads you will need to hit your revenue targets and sales goals.
Step 2: Defining a Set of Values For Your Raw Lead
Make sure that your sales and marketing teams are on the same page when it comes to defining your leads. Based on the rates you expect to close a sale, consider what your raw leads are worth to your business.
It is important to consider this figure because it helps in deriving your overall budget or goals for campaigns. For instance, if your company can make $50,000 for each sale in financial services, your raw leads are going to be worth a lot more compared to companies that sell $1000 worth of finance software.
Step 3: Selecting an Appropriate Channel For Your Lead Generation Message
Lead generation varies from industry to industry. Also, you should remember that most of your prospects would like to hear your company’s message more than just once before responding. This is why you should define a budget and marketing plan that is meant to cater to multiple touches.
Typically, you should move up from your least expensive marketing tactics for lead generation to use your budget wisely. The most expensive tactic in your business is probably your sales staff, and therefore, they should not be used to generate mere raw leads. Instead, you can use in-house email marketing, social media marketing, search ads, direct mails, etc.
Do You Need Professional Help?
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