Lead Generation Now ONLINE COMMUNITY Mobile and social are the buzzwords of today’s Leadgen efforts. Constant and easy access to a huge online network have provided a new platform for freedom of expression and conversation. Consumers themselves dictate the promotion and values of businesses through social media, holding the most influence over purchasing decisions. Lead generation in this sense, has come full circle, reflecting the importance of first-hand recommendations in its origin.
Lead generation has long been a tool used by marketers in the procurement process, engaging potential consumers and helping to funnel this interest into eventual sales. Lead generation, however, is faced with the challenge of adapting to an information-abundant digital age where buyers lead their own research into products and services, rather than being led by businesses in the supply chain. The ultimatum may be the same - to maintain a business’ influence in purchasing decisions – yet, the evolution in buyer behaviour requires ‘Leadgen’ to take a new approach to gaining interest. One that may well be based in the marketing strategy’s original success.
Then and Now
Businesses have had to respond as buyers have become better informed about the market they’re purchasing in. Buying power is held by buyers themselves. Notably, this development has seen the focus of Leadgen change from an exclusively sales driven tactic to being motivated by gaining interest and building relationships with clients instead. Businesses acknowledge that exposure and a slower journey to sales is necessary and to fulfil this, marketers utilise data and apply this understanding to all efforts and campaigns, rather than specific channels as was the case previously. The chart below represents the transformation in ideas around client engagement activity.
THEN VS NOW Procurement WORD OF MOUTH
THE CYCLE OF LEAD GENERATION
AVAILABLE INFORMATION
In the time before lead generation, buyers seek advice through recommendations by word of mouth, reputation and relationships.
PURCHASING INFLUENCE BUSINESS INFLUENCE
> > >
Sparse
Abundant
Majority held with sellers
Majority held with buyers
Gained through sales
Gained through marketing
Lead Generation
INTERNET SOURCING The internet brings wide scale connectivity and web pages. Later it will be utilised for its search capabilities, introducing consumers to a new model of sourcing the products and services they require. Businesses centre promotional activity on Customer Relationship Management and Integrated Marketing Communication strategies. Leadgen also goes ‘viral’, as marketing competes to achieve the status this new term explains.
Businesses have always sought to generate leads to encourage sales and ergo growth but as consumer behaviour evolves, the techniques used in lead generation have come full circle.
AIM
>
Support the business Source new client channels
Support client’s experience Sourced by clients
CONSUMER INTELLIGENCE
>
Advertising & promotion Demographic, need
Targeted 1:1 marketing Behaviour, desire
STRATEGY
>
One off, time limited offers Fewer, isolated channels
Relationship building Networks & united channels
ANALYSIS
>
Data collected on behalf of Intuiton
Big data owned internally Factual analysis
PERMANENT TRADE Markets stalls take on permanent premises and over time become established businesses. Purchasing decisions are led by convenience and availability in any given location.
Today MASS COMMUNICATION With the rapid progression of printed materials, media and later radio – mass communication helps businesses to reach new consumers.
DIGITISATION
Digitisation makes communication possible on a level previously never seen before and ebooks, the first unsolicited commercial emails and materials via desktop publishing make their way to consumers. ‘Leadgen’ adds Content Marketing to its repertoire, albeit not under this recognised title just yet.
MEDIA ADVERTISING
The television enters homes and lead generation fills the gap made, as consumers take purchasing messages from adverts and other programmes rather than actual acquaintances. During this time, door-to-door sales rise and call centres find their feet.
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Published by Applegate Marketplace Ltd - located at Riverside Road, Pottington Industrial Estate, Banrstaple, Devon, EX31 1LS, United Kingdom - is registered in England and Wales with company number 03990680 © Applegate Marketplace Ltd 2015
Purchasing consideration or how clients arrive at a buying decision, has changed significantly and yet, lead generation still has an important role to play in this journey. Nearly 95% of a business website’s prospects are not ready to continue down the sales funnel and this is where lead nurturing can help to prime the relationship between a prospect and a company. Through behaviour-based, targeted messages, marketers can educate clients about the company in personal communications – helping to ensure that when the time does come to make a purchase, the company will be at the forefront of the client’s mind. Successful lead generation, today, relies on a clear, coordinated and cooperative dialogue between marketing and sales, where both teams work together to provide the best experience possible to the purchasing power – the client.