Why Lead Generation Is So Important

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Lead generation is by far the most vital aspect of every business. Online, this method has quickly become the most effective, cost-efficient way to make money. Its popularity is due to the double opt-in process that takes place in the online world. Consumers have to confirm that they want the offer, therefore making them stronger leads. Obtaining customer referrals isn’t just about word-of-mouth advertising in the online world. It’s a strategic process that your business needs to develop. The advantages are well worth it.

lead generationPhoto Credits: Yann Ropars’ Flickr

The 4 Vital Factors For Lead Generation

In order for your business to grow, you have to have a consistent flow of new potential customers. Today, you have to really master Internet Marketing and draw people to your site. This includes banner advertising, email marketing, pay-per-click advertising, affiliate marketing, search engine optimization and anything else that brings potential customers to your website. All of these are considered types of leads.

To utilize and convert the potential customers that visit your website, there’s 4 things you need to know at all times regarding lead generation:

  • The amount you spend for each new potential customer. (customer acquisition)
  • The percentage of potential customers that convert to sales. (conversion rate)
  • The amount the customers spends on their first purchase. (unit of sale)
  • The average total sales that each new customer brings to the business over time. (residual value or LTV)

Sound a little overwhelming? Look at your process this way:

Traffic + Conversions = Sales

Every person added to your list will represent a dollar per month for your Biz

Each Lead 1 = $1 Per Month

If you are just getting started with your business things can get a little overwhelming and information overload is always lurking on the horizon. Use this simple formula for all of your efforts, advertising, content writing, images, email marketing, etc. Never lose sight of building your list from the targeted traffic you’re getting and converting them into your business daily.

The Benefits

Lead Generation_The Benefits

Lead Generation_The Benefits

Knowing exactly how to analyze and handle leads means your business will thrive from each and every one of them. Know your numbers and check them daily, this is one of the keys to growth. There really isn’t a “set it & forget it” method to anything that will grow your business. Revise and refine your process or funnel each month to make them better. Each new potential customer is what shapes your sales funnel and sets you up for success in the future. Here are just a few of the benefits:

  • Establishes Authority:  It’s the very beginning of establishing a relationship with the consumer, thus enhancing their experience, trust and loyalty to your products and your company. It’s very critical to build “Know, Like & Trust” between yourself and every prospect. The best way to start this process is to consistently provide value that helps to solve your customers needs.
  • Research - In the lab

    Research – In the lab

    Enhances Research & Development:  Based upon feedback from your leads, you can determine what they need most (not want) and develop products that suit these needs. Actual conversations with leads will provide the best information. Engage with leads by asking questions with your content, encouraging responses with your emails and even having Webinars or Hosting events. If you don’t have a large list right now I suggest getting phone numbers to call your leads and talk with them.

  • Moves Inventory:  They help you move both old and new inventory by knowing which potential customers to target with specific products. Having electronic products like I do means you don’t have a physical inventory but you will still enjoy the benefit of more sales following these suggestions.
  • Targeted Leads

    Targeted Leads

    Helps Target Marketing Efforts:  They reveal crucial demographic information so that you can take it and aim your marketing efforts based upon the demographics of your leads. My Team gets an overview of how to use specific targeting vs general targeting. The difference is vast in that you may get less clicks to your offers for a time as you continue to refine your knowledge. Targeting larger markets such as Television may deliver loads of window shopper traffic. Targeting a specific show will get you Targeted Leads and one targeted lead will deliver results over window shopper traffic every time.

  • Repeat Customers:  When you develop and advertise your products to customers that have already shown an interest, the probability that they will actually make more than one purchase is pretty high. This is especially true if you’ve built a relationship with them. Most established businesses work much harder at keeping their customers than they do at getting new customers. WalMart & Facebook have much in common as they both work hard at keeping customers “in store”. Providing everything their customers might need in house, instead of having customers turning to another store or site.
  • Teamwork

    Teamwork

    Helps Establish Your Team:  Prospects that become your leads see you as a leader in their chosen niche. Treat them like a Team and they will respond that way. Building your skills is important to keep delivering value, but as you learn and try new things you should also share that info with your Team. In a way, this is exactly what some online traffic services do for you for a fee.

Take the Next Step

Now that you realize how vital lead generation is for your business, why not take the next step? This report will relieve the stress and provide you with a solid blueprint you can begin implementing into your business right away. Solve the Traffic Puzzle by using the same advantage that I do. MITS or My Internet Traffic System will give you training to generate more leads than you can handle: MITS
Need more traffic & leads? Generate 500 leads or more in 60 Days with my action guide for free.

Why Lead Generation Is So Important  - glenntguillory.com

Why Lead Generation Is So Important – glenntguillory.com

About the Author glenn

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