The way people buy products and services these days has completely changed. Customers are no longer easily attracted by flashy advertisements. Aggressive sales pitches and commercials were effective a few years ago. Having quality content is becoming more important to engage customers.
The buying process has also changed. Marketers have to find different ways to reach buyers. Instead of finding customers with mass advertising or email blasts, marketers must now focus on being found and learn how to build continuous relationships with buyers. Nowadays, one of the main keys to a successful business is the generation of new sales leads.
So why lead generation is important and what advantages can a business get from having quality leads? Here are 4 reasons why lead generation will improve your SaaS company:
Targeting desired customers
Lead generation allows you to target your desired customers at different demographic locations and collect important information about prospects, their needs, and their preferences. That can help you tailor the value of your product or service to meet their wants, needs and/or interests.
But, it’s not only about the number of leads. It is about their quality. For example, SaaS companies should focus their efforts on attracting the right prospects for their company using a lead generation strategy to determine who their qualified prospects are, what type of content they consume, and how you can turn them into customers.
Being aware of this challenge, BizzBee Solutions created a service that helps companies define their Ideal Client Profile (ICP). The only requirement before starting the process is a one-page summary outlining the ideal type of clients, ideal positions within companies, and type of contact information. The journey starts with screening the web, LinkedIn (using advanced Sales Navigator tools), and other databases to identify a pool of companies and people within that are relevant according to the previously given criteria.
Lead generation has become popular because it enables SaaS companies to choose the product or service they want to offer, engage in tighter, more effective demographic targeting and control the number of leads a business wishes to receive per month.
Generating brand awareness
Brand awareness is a measure of how well your brand is known within its defined markets. The more the people that have heard about your brand the stronger your reputation is and the greater your profit potential will be. Lead generation educates people in your target market about your product and its features, thus creating an opportunity for ‘word of mouth’.
Lead nurturing is the process where you begin to build relationships with prospects in every stage of the buyer’s journey and sales funnel by using the relevant content. This is a very powerful strategy because this gives you the opportunity to build trust and credibility with your desired target audience by showing them that you’re an expert in your niche.
Trends are showing that the need for lead generation will continue to grow, especially for service-oriented businesses. According to a study by Genius.com, 66% of buyers point out that receiving consistent communication via email was one of the major influences for them to choose a service provider.
Leads = customers = profits
Statistics show that over 55% of B2B marketers spend more than half their marketing budget on lead generation. One of the most important benefits of this strategy is increasing sales of your products or services. Businesses that use lead generation are more likely to make more sales by turning leads into full-fledged customers. As a result, this can also increase the profit margins of the business. Although building the relationship organically is always better, lead generation can be an exceptional and faster way to profit and expand.
At BizzBee Solutions, we believe that a warm lead is a step closer to getting a deal. Thus, creating email marketing lead generation is one of our main services. Our definition of a warm lead is a prospect that has asked for a quote or requested to talk to sales. As such, warm leads are forwarded to your sales team with all the gathered data about them. The delivery can be in excel file, or directly to your CRM.
Lead generation is a must if you want to stay in this competitive market. It also contributes to a better Return on Investment (ROI) by being the cheapest direct marketing method.
Costs less than other advertisements
Since advertising is a requirement for a successful business, it is important for companies to select the most convenient marketing strategy that will be cost-effective and produce better results. Lead generation offers that option.
Lead generation can be extremely cost-effective. Leads vary anywhere from $5 to $500 per lead depending on price and quality. Pricing is usually connected to the difficulty in acquiring the lead. The rule is — the easier to a source, the lower the price. Usually, higher-quality leads bring higher conversion rates.
Lead generation is a win-win situation for both the buyer and seller. For example, buyers can request information from several businesses that offer the product or service that they are interested in. Then, the seller can make its pitch to people who have given their permission. These are some of the hottest leads. Conversion rates on leads received in this way are more successful than cold contacts.
Business expansion is directly connected to finding new clients and making them happy. Let’s face it — you won’t have customers without leads in the first place. This is why lead generation plays an important role in the digital age. Without lead generation, you don’t have leads, therefore you don’t have potential customers, you don’t have any customers, and as a result, you don’t make any money. As simple as that!
The process of lead generation is actually very easy, but, it may be difficult to do correctly. A lot of marketers face internal obstacles when trying to generate leads. This is why they hire a lead generation agency like BizzBee Solutions, who specialize in providing qualified leads to businesses which can really help boost productivity and achieve better results.
This article was originally published on BizzBee Blog.