Here are the three lead generation goals that you need to focus on:
- Generating better leads.
- Generating more leads.
- Converting more leads.
And today we are going to show you exactly how to do all that…
Goal #1: Generate Better Leads
It’s important to remember that when it comes to lead generation, quality is more important than quantity.
You can have 1,000,000 email subscribers but if not a single one of them converts to a paying customer then your email list is just an expensive ego boost.
Granted, this is a deliberately exaggerated example, since with an email list that size you would definitely get some sales.
But the point is that your ultimate aim shouldn’t be to collect a bunch of email addresses.
What you want is to generate qualified leads that actually convert to paying customers. But how can you do that?
Identify the Leads That Convert the Best
A common lead generation mistake is to look at who is subscribing to your email list, then target similar people in your marketing campaigns.
While that will get you more email subscribers, it’s unclear how well those leads will convert to paying customers.
It makes much more sense to look at your sales data and figure out who is buying your products, then target similar people in your marketing campaigns.
That way you will have a much better shot at generating leads that convert well.
Double Down on the Marketing Strategies That Bring in the Best Leads
Once you have identified leads that convert best, you should then look into how they came across your company.
You are probably using several marketing strategies to generate traffic, but the chances are that those strategies aren’t all producing the same results.
It is quite likely that the Pareto principle, also known as the 80/20 rule, applies here:
“For many outcomes, roughly 80% of consequences come from 20% of the causes.”
In this context, it means that 20% of your marketing efforts might be generating 80% of qualified leads.
What you want to do is identify that 20%, then double down on it.
For example, if you realize that the vast majority of qualified leads come from Google, then you should probably start investing more in search engine optimization (SEO).
Stop Investing in Marketing Strategies That Bring in Low-Quality Leads
Now, it’s easy to say “double down on it”, but where can you get the resources to do that?
The answer is simple: stop investing in marketing strategies that bring in low-quality leads so that you would have more resources to invest in ones that bring in high-quality leads.
When Noah Kagan, the founder of AppSumo and Sumo, realized that female email subscribers weren’t converting into paying customers, he stopped targeting women in his Facebook ads campaigns.
Here’s how he explains this decision:
“It’s not that I don’t like women. I love them!
But the point is that they are not actually as interested in my content.
There’s probably someone who can better share that type of content with them.
So I target my audience which is males, 25-44.”
It’s probably safe to assume that Noah’s paid advertising return-on-investment (ROI) went up after this since he stopped paying for leads that are highly unlikely to convert.
How To Measure Your Progress
You should determine your current lead-to-customer conversion rate, then see if it goes up as you:
- Start investing in marketing strategies that bring in high-quality leads.
- Stop investing in marketing strategies that bring in low-quality leads.
In case the conversion rate doesn’t go up, you should analyze the data, figure out what the issue is, and adjust your approach accordingly.
Goal #2: Generate More Leads
Okay, so once you have figured out how to generate better leads, it’s time to focus on getting more of them.
Create a Super Valuable Lead Magnet
A lead magnet is something that you give away for free in exchange for the potential customer’s email address.
It can be anything that they can either download to their device or access online:
- An ebook.
- A report.
- A cheat sheet.
- A checklist.
- An email course.
- A video course.
What matters is that your lead magnet offers a solution to a problem that the potential customer is struggling with.
As we have explained on Instagram:
The key to designing an effective lead magnet is to create something that your dream customers desperately want… And then give it to them for free.
Content Mavericks is an online education business that teaches people how to get more traffic with less content.
Their lead magnet is a case study called “How I Made $100,000 From One Blog Post (With $688.71 Ad Spend)”.
It goes without saying that it’s incredibly valuable to their target audience of online entrepreneurs.
You might have heard about the phenomenon called banner blindness where people unconsciously ignore advertisements on websites.
Well, there’s also something that can be called “lead magnet blindness”, since by now people are so used to lead magnets that they tend to ignore them.
Moreover, even when someone downloads a lead magnet on an impulse, they often don’t bother checking it out and then never open the subsequent emails from that company.
The only way around this is to create a lead magnet that is so valuable that your potential customers wouldn’t be able resist downloading it and consuming the content.
Impress them with it and they will be keen to open your emails and continue their relationship with your company.
Create a Landing Page for Your Lead Magnet
A landing page is a web page that is designed with a single purpose in mind. In this case, the aim is to get people to give you their email addresses.
You should create one and drive traffic to it because landing pages convert better than regular web pages.
There are two approaches that you should consider:
Approach #1: A squeeze page
The most common type of lead magnet landing page is a squeeze page which typically has these three elements:
- Opt-in form.
Here’s Noah Kagan’s Ok Dork homepage that also serves as a squeeze page:
The reasoning behind squeeze pages is that persuading someone to download a freebie shouldn’t require much copy.
Approach #2: A “sales” page
There’s also another approach where you create a landing page that is more like a sales page.
Nick Stephenson is a best-selling author and a marketing coach that teaches writers how to market their books.
Take a look at his lead magnet landing page:
He starts by introducing the offer and explaining its benefits:
Then he reinforces his credibility with social proof:
Then he provides a more detailed description of the free video training:
Then there’s more social proof, this time in the form of testimonials:
And, finally, there’s a call-to-action button:
As you can see, this lead magnet landing page looks like a short-form sales page, the only difference being that instead of asking you for money Nick asks you for your email address.
Which approach should you use for your lead magnet landing page?
Generally, the more effort you put into a landing page, the better it will convert, so you may want to consider the “sales page” approach.
Of course, squeeze pages can also work well, so don’t hesitate to put one up while you are working on a more elaborate landing page.
All that being said, the only way to find out what works best for your business is to experiment, so consider testing these two types of landing pages and see which one converts better.
Optimize Your Website for Lead Generation
You also want to make sure that your website is optimized for lead generation.
Add a feature box to your homepage
A feature box is an opt-in form that is displayed at the top of your homepage. Alternatively, you can use a call-to-action button that leads to an opt-in form.
Brennan Dunn uses this feature box on Double Your Freelancing homepage:
Add opt-in forms to your blog posts
When someone has just finished reading an article on your blog, they are likely to be open to subscribing to your email list.
You can capitalize on this opportunity by adding opt-in forms at the bottom of your blog posts.
Derek Halpern from Social Triggers uses this opt-in box at the bottom of his blog posts:
Add your lead magnet landing page to the navigation bar
You can also promote your lead magnet in the navigation bar on your homepage. You can place a link to your lead magnet landing page there.
Rocketship agency has a “Case Study” link in their navigation that sends the visitor to a landing page on the Content Mavericks website (both companies were founded by Chris von Wilpert, hence the connection).
How To Measure Your Progress
This one is pretty straightforward: you simply keep track of the number of leads that you generate every month.
Just don’t lose sight of the lead quality.
Goal #3: Convert More Leads
Okay, so now that you know how to get more leads, the question is how can you convert them into paying customers?
Make Sure That Your Message Is Consistent
One common mistake that people make when it comes to their lead generation funnels is failing to stay consistent with their message.
A lead generation funnel has three stages:
- You catch the attention of a person in your target audience.
- You offer them a super valuable lead magnet that they can’t resist.
- You get them to click through to the lead magnet landing page and give you their contact details.
You need to make sure that you remain consistent as the potential customer progresses through these stages.
This includes the same brand image, the same positioning, and the same “sales” pitch for your lead magnet.
Otherwise, the potential customer might end up feeling disappointed because they were expecting something else, or worse, think that you have intentionally misled them.
You also need to stay consistent once you have converted them into a lead.
Your emails should meet their expectations and be a continuation of the experience they have had so far. Same applies to your offers.
Keep in mind that the better you are at setting expectations and then meeting those expectations, the easier it will be for you to convert leads into paying customers.
Create an Irresistible Frontend Offer
It’s important to understand that the purpose of your frontend offer isn’t to make you money, it’s to convert that email subscriber into a paying customer.
That’s why you want to make it:
- Insanely valuable.
- Ridiculously low-priced.
In other words, you want your front-end offer to be a no-brainer, something that your potential customers won’t be able to resist.
Create an Effective Lead Nurturing Sequence
Just because someone gave you their email address doesn’t mean that they are ready to purchase something from you immediately.
Yes, you should present them with your frontend offer, but you need to make sure that your emails provide value even to people who aren’t interested in buying right now.
Here’s what you need to keep in mind:
- Every time you send someone an email that adds value, you make them more likely to convert.
- Every time you send someone an email that doesn’t add value, you make them less likely to convert.
What you want is an email autoresponder sequence that allows you to put lead nurturing on autopilot.
How To Measure Your Progress
Keep an eye on the lead-to-customer conversion rate. It should go up as you implement these tips.
Every company is different.
That’s why it’s impossible to tell what lead generation targets you should try to hit. Only you can decide that.
However, if you want to grow your business, then you need to focus on:
- Getting better leads.
- Getting more leads.
- Converting more leads.
So don’t hesitate to implement what you have learned in this article!