Have a lead generation strategy with your digital marketing campaign is extremely valuable because it allows you to reach potential leads at every stage of their cycle. For email marketing, this approach is particularly beneficial, as it helps you create highly targeted campaigns that are designed to convert on deep level.
Wondering whether it is worth adding lead generation strategy to your budget? In a nutshell, lead generation helps you reach new customers, take lukewarm leads to the next level, convert those close to closing leads and improve your entire communication strategy.
Why Invest in Lead Generation Marketing?
Some of the most relevant benefits offered by lead generation marketing include the following:
- Reach leads at the right time. It is essential to reach out to potential leads at the right time, in the right way, if you want them to come close to converting. A study done by InsideSales.com noted that businesses who respond first to enquiries take 35-50% of sales. An additional HubSpot study meanwhile noticed that response rates decrease the older leads get.
- Increase qualified leads. Qualified leads are a lot more likely to convert than non-qualified, non-targeted leads. Lead generation is an effective way to identify potential interest, which in turn helps you create tailored content designed to further act on that interest.
- Highly targeted marketing. Market segmentation is very useful in creating highly targeted emails that reach leads at each stage of their buying cycle. By segmenting your groups according to interest, behaviour, demographics, location or any number of factors, you will be able to deliver a far more focused campaign. A MarketingSherpa study discovered that segmented emails get 50% more clicks than non-segmented emails, showing just how valuable this strategy can be.
- Drive engagement. This applies to established leads as well as new leads. Engagement is a vital part of the conversion process. Lead generation makes it easier to engage with leads at the right time in their cycle, so that they are more likely to convert. But it also helps you engage with people who have already converted, which in turn helps to build brand loyalty.
- Find cross-sell and up-sell opportunities. Lead generation can also be a great way to up or cross-sell to existing customers. Market2Lead did a study that noted something interesting… nurtured leads have a 9% higher average deal size. This shows just how effective lead generation is not only for number of sales but also the actual size of the sale, too.
To learn more about how lead generation and nurturing can take your digital marketing campaign to the next level, leave a message below or send us your details in our Get Started page for more information on lead generation marketing.