Marketing technology has advanced by leaps and bounds over the past few years. There are many tools that help with marketing and sales and some are so specific and useful, you can predict sales for the month and much more.
But and this is a huge one. Most businesses don’t use half these tools that are in place. 90% of the businesses don’t automate their processes or collect data or put their data to work and make sense of it.
The process of lead generation in itself is complicated. There are a lot of processes that need to be implemented. Measuring and tracking each one to understand how you’re performing is key.
Even though you do the above, there’s no guarantee to success. What if I say, we could predict how a particular lead will do and whether you can close them or not?
Now that’s real knowledge and that is what we’ll be delving into in this article.
The Lead Generation Process
To be able to predict outcomes. A process needs to be in place.
- Who is a good customer?
A good customer is a person who is most likely going to buy. So understanding who this person is, what job title, what industry they belong to and what their need is key to understanding who a good customer is. When you target to good customers with your marketing efforts, you are most likely going to increase your revenue.
- What does the customer do on your site?
Based on tracking data, you can find out what customers do on the site. Do they download whitepapers? Based on certain parameters you can identify if they are worth pursuing.
- Who is a bad lead?
A bad lead is a person who doesn’t do the desired actions that you want them to. There’s no point in spending marketing dollars on a bad lead. Once you identify the bad leads, filter them out.
- Using statistics to increase revenue.
It’s not only about data anymore. Everybody can access data. It’s about, what you do with the data that can make or break your revenue. With predictive analytics, you know what to do.
Common Mistakes Made While Nurturing Leads
Nurturing leads is the act of communicating with potential leads to make them go further the funnel until they convert by becoming a paying customer for the business.
Although this seems simple, lead nurturing is a different skill set and it’s prone to a lot of mistakes.
- Not taking enough efforts to reach out to potential leads
When visitors visit your site, it’s more likely that they’ve read about company, compared and are considering you based on the research you’ve done. Now as a company, you’ll need to take more efforts in generating leads and most businesses just don’t do that.
You’ll need to run Adwords campaigns, remarketing campaigns and get users interested in your business. Most businesses fail at this front. They don’t take efforts to run advertising campaigns to increased their leads count.
- One size that fits all
God is in the details is a design quote. But it also should be a marketing quote. When businesses run campaigns, most of them run generic campaigns that just target every audience.
But one size does not fit all. And this another mistake companies make. They make generic ads targeting everybody. Segmenting is key. Need to segment your audience, need to segment the content you put out.
With predictive analytics you can put out the right content to the right people at the right time to make them purchase your product.
- Not simplifying
Another issue while creating ads is, companies stuff in all their features into one ad to show that they are a versatile tool that can solve any problem.
This more often than not confuses users. You want to focus on your content and have one simple message.
- Not updating the CRM contact list
Old data is a recipe for disaster. People change jobs, along with it email addresses change, phone numbers change and so do job titles.
When you send the wrong email to the wrong person, you are affecting the reputation of your business.
5. Not having a consistent marketing effort
Getting constant leads for your business in an art. It comes from years of experimenting. But even after constant campaigns, if you are not able to find channels that produce consistent leads, then there’s a problem. This means, more often than not businesses don’t understand who their customers are.
- Not agile enough to incorporate predictive analytics
Predictive analytics is what makes simple data into money making information. But most businesses don’t implement predictive analysis into their systems. They don’t have the understanding and this can make a big difference to the business.
Predictive analytics is what businesses need in the future to be prepared for competition. It’s not about data. It’s about what you do with meaningful data that makes your business a lead generation money making machine.
Article brought to you by Novatise – Digital Agency Singapore.