Sales, Mergers & Acquisitions
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What is Lead Generation?
Lead generation describes an inbound marketing process of stimulating and capturing interest in a product or service to develop a sales pipeline resulting as part of your digital advertising process and customer journey.
In today’s complex marketing climate, it has become a popular strategy to help create demand and get your marketing messages heard across multiple channels.
Generating leads helps your company increase brand awareness, build relationships, reputation and ultimately creates opportunities.
Examples of Lead Generation Strategies
There are many types of strategies for generating leads and enquiries, these include:
- Content marketing and blogging
- Website and Search Engine Optimisation (SEO)
- Social media
- Pay-Per-Click (PPC) advertising
- Content syndication
- Direct mail
- Telesales
- Email marketing
Who needs lead generation?
B2C, or “business-to-consumer” and B2B, or “business-to-business” companies need a lead generation process to grow and thrive as they exist to provide a product or service to their customers.
What Is The Lead Generation Process?
Lead generation is part of a broader customer journey that a prospect will take before becoming a customer. As a result, the process will attract and retain interest within your product or service long enough for a prospect to submit their information.
In this paragraph, we explain what a typical lead generation process looks like.
Firstly, a prospect discovers your content through one of your online or offline touchpoints such as a landing page, social media platform, QR Code, or your website.
Secondly, the prospect makes a conscious effort to start a customer journey after seeing a ‘Call to Action’.
Thirdly, your prospect is taken to your sales page/landing page that is designed to acquire personal information.
Moreover, this could be for future advertising campaigns, a hot lead for direct contact, or an exchange of data.
Lastly, and most importantly, The prospect exchanges their information in exchange for a benefit such as a discount code, or for the knowledge they will be contacted about a specific product or service.
Why do you need lead generation?
Law firms and businesses without a lead generation strategy rely heavily on their target customers. This reliance, therefore, provides unpredictable results to your revenues and growth as they may not even know you exist.
Lead generation is important to law firms and businesses as it builds your visibility, credibility, trust, and interest from your target market (potential leads)
How do law firms generate leads?
Law firms typically generate leads through their marketing or marketing conducted by CMCs (Claims Management Companies) which include organic (SEO) or paid-for activities (PPC).
There are plenty of law firm marketing strategies available to you which we cover in our post on how to market a law practice article.
What is SEO Lead Generation?
SEO Lead Generation is the method of attracting prospective clients to try your product or services which is a result of website visitors from online search engines like Google.
PPC Lead Generation
PPC Lead Generation is the process of displaying your services to potential customers who are searching or likely to buy your product or service and paying every time someone clicks.
We recently helped with Marketing a firm of Personal Injury Solicitors. Above all, we helped them achieve a 91% decrease in the cost. Therefore, generating each lead at a fraction of the cost.
Currently, the firm generates an average of 511 enquiries every month with a predicted turnover of £131,959 through our Web Design for Law Firms and PPC Services for Law Firms.
How Will Lead Generation Benefit My Business?
Lead Generation provides the benefits of having a steady stream of potential customers to your business. As a result, you’ll never be limited for generating income.
Through various tactics, a company can collect the contact information of potential targets and as a result, nurture them to eventually become customers.
Lead generation is useful for all types of businesses, both small and large, and in both B2B and B2C companies—such as financial services, healthcare, and legal entities, for instance.
“You don’t want your sales teams wasting time cold calling from a list of unqualified leads”.
Simply put, cold calling does not work in today’s world of information abundance.
You want your sales team closing deals and spending time actively selling, instead of wasting time calling down a list of cold leads.
Lead generation can help your sales teams spend more time selling and less time with administrative tasks and prospecting because you are giving them warm, well-qualified leads.
Our recent research showed that companies with mature lead generation practices achieve better sales productivity and higher revenue growth.
Mature companies achieve 133% greater revenue versus their plan than average companies, and 174% more than the least mature companies.
Additionally, sales reps at mature companies spend 73% of their time selling – rather than on administrative tasks.
At companies without mature lead generation strategies, sales reps spend only 57% of their time selling.
If you can generate more leads for your sales team, not only are you helping your company grow, but you are also helping marketing’s credibility.
Therefore, You are no longer seen as a cost centre but as a viable part of the revenue team.
How Can Intellistart Help My Law Firm and Business Generate Leads?
We help businesses across all sectors:
- Grow their database with new customers.
- Increase opted in members to their database.
- Gain a 360-degree view of their customers.
- Improve their website conversion rates.
- Build their brand awareness.
- Gain the edge on their competitors.
Looking for support? Explore our marketing services for law firms.
Call us on 0161 877 4888 or request a callback from our team.
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