7 Underutilized Lead Generation Strategies
Posted on 03/08/2023 at 10:00 AM
Lead generation is one of the most important aspects of digital marketing. It is the process of attracting and converting potential customers into leads, who are then further nurtured and converted into paying customers. The ultimate goal of lead generation is simple: to increase sales and revenue for a business. However, creating effective lead-generation campaigns can be a bit more complex.
Social media marketing, search engine optimization, paid advertising, email marketing, etc., are all common lead-generation tools. While these are all great ways to find new business leads, adding more specific and unique lead-generation strategies can help your business stay ahead of the competition. Find the best way to get new leads for your business with one of these seven underutilized lead-generation marketing strategies!
1) Host Free Events
Hosting free events is a great way to attract potential customers and generate new leads. These events can take the form of webinars/virtual events or in-person events. By providing valuable information and education, businesses can attract potential customers and establish themselves as experts in their industry. Free events can also be a great way to invite your community to come and learn more about your business and the products/services you provide.
For example, an open house can be a great way of generating business leads because it allows you to directly engage with your target audience. For both services and eCommerce based-business, showing a behind-the-scenes look at the facilities, tools, and expertise that go into providing your product or service can be a great way to inform and attract new leads.
2) Have An Incentive-Based Referral System
An incentive-based referral system is a great way to generate leads through word-of-mouth marketing. By offering incentives, such as discounts or rewards, businesses can encourage their existing customers to refer their friends and family. 90% of people are more likely to trust and buy from a brand recommended by a friend (Semrush, 2021). Not only does this marketing strategy improve the likelihood that a new lead will convert, but can also help with customer retention.
For example, after the purchase of either a good or a service, a company can include unique referral codes on their receipts/invoices/confirmation emails. If the customer shares this code with a friend or family member, and the family member then uses that code, both parties get a discount on their next purchase.
3) Offer Gated Content
Gated content involves offering valuable content (such as white papers, videos, articles, etc.) in exchange for a potential customer's contact information. This strategy is an effective way to generate leads as it leverages the lead magnet model. A lead magnet is a free asset provided to a customer in exchange for their contact details. If the user is interested in your content, they are likely within your target market, and collecting their contact information can help improve your direct marketing campaigns (such as email marketing).
There is a wide variety of types of gated content that can be leveraged to collect new leads. Common examples of gated content include free webinars, quiz results, annual reports, product demos, free consultations, and more.
4) Run Retargeting Campaigns
A study from Episerver found that 92% of consumers visit a brand's website for the first time to do something other than make a purchase. Retargeting campaigns are aimed at getting these potential customers, who have already visited a business's website but have not yet made a conversion, to return to the site. By using targeted advertising, businesses can reach out to these potential customers and encourage them to return to their website and make a purchase or become a lead.
For example, an e-commerce company can use a Google Ads retargeting ads campaign to target potential customers who have added items to their shopping cart but have not yet made a purchase. By displaying targeted ads that remind these potential customers of the items in their cart, the e-commerce company can encourage them to return to the website and complete their purchase.
5) Guest Post On Other Websites
Guest posting involves creating content, such as blog posts or other articles, and publishing them on other websites relevant to that business's industry. This helps not only reach new members within your target audience but also increases your reputation as an established industry resource.
For example, a financial planning company can write a guest post for a personal finance blog. By providing valuable insights and advice, the financial planning company can attract potential customers who are interested in managing their finances.
6) Get Listed On Local Listing Websites
For businesses with a defined service area, local SEO is a crucial aspect of a strong online marketing strategy. Getting listed on local listing websites is an effective way to generate leads for local businesses. These websites (such as Yelp, Google My Business, industry-specific listing sites, etc.) offer businesses increased visibility to showcase their products or services to potential customers in their local area.
For example, a local restaurant can get listed on Yelp, which will allow potential customers to view the restaurant's menu, read reviews, and make reservations. By being listed on these types of sites, businesses increase their odds of being found by potential new customers while also ensuring they are not excluded from sites that their competitors are listed on.
7) Provide An Assessment Or Report
Providing an assessment or report is a great way to generate leads by providing potential customers with valuable insights and information about an area of interest related to your business. This lead-generation tool can be one of the best ways to generate leads for a number of reasons. Many people love taking online quizzes to get free, personalized information/insights on themselves (or their business), so online assessments are a great way to capture a user's attention and get them to interact with your website. This can also be another great example of a lead magnet if the quiz/assessment results are sent by email/or only accessible by providing an email.
For example, an eCommerce business can have a style quiz or product match quiz to help users find the best product for them. Service-based businesses can offer quizzes for users to find the service best suited to their specific needs.
Lead Generation: The Bottom Line
Lead generation is the first step in the sales funnel and as such, is a vital part of your digital marketing strategy. Overlooking your lead generation strategy can prevent your business from growing and expanding. By adding new facets to your lead generation strategy, your business can build brand awareness, get more website traffic, and increase conversions.
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Categories: Content Marketing and Sales