Lead Generation Process is the main factor for a company’s growth. Quality leads will help for better conversions. Conversion means the transformation of leads to Sales, i.e. fund inflow. So sales are the growth of a company. Confused?
Don’t be confused.
I will explain everything in this content.
First, let’s start with
What is Lead Generation?
Lead Generation is a process of collecting Name, Mobile number or Email id of interested people so that they can be converted by nurturing. The person who submits their details will be known as a Lead.
If the lead is really interested with our product/service then it will be a Quality lead, if they are not interested then it will be a false lead.
Now let me talk about conversions.
Conversion is a process of converting quality leads into Sales, thus companies will make a profit out of it.
For more profit, you should invest more in quality leads.
And to get Quality leads directly, it’s better to buy Database, instead of making the process so lengthy by attracting the leads and making them provide their data.
Database of good providers will consist of Quality leads based on people’s interests and past activities itself.
So you can save money, and moreover than that, you can Save Time.
You can also check out the article Ultimate B2B Lead Generation Strategy For Business
How Lead Generation process works?
Lead generation works based on the Lead funnel.
Now you might be thinking from where this Lead funnel topic came.
Lead funnel is nothing but the Lead Generation process. Stage by stage the lead funnel has been divided so that people will know where the lead generation process has got affected. By this the marketer can identify and rectify it for quality leads.
How Database Lead Funnel differs from Ordinary Lead Funnel
An ordinary funnel has 7 stages,
- Lead Capture
- Sales Qualified Leads
- Opportunity Leads
The above stages are included in an ordinary funnel when you try to convert people through your own techniques such as online marketing or offline marketing. But when it comes to the use of a pre-existing database, then the ordinary funnel gets cut down by 43% and creates a new and small funnel which makes the conversions faster.
Look at the below infographic for better understanding:
The reason why I am telling you that we can cut 43% of the funnel with Database is that; Database from good companies will be always accurate as they go through many processes to find the right audience as per your requirements.
Now let me explain in depth what does each stage mean,
This is the first stage which a user goes through so that they can be converted into a lead. Here, the user will be getting to know of the product or brand which you have launched.
If you see in an ordinary lead funnel’s perspective then this stage shows people that, our brand exists and we are here to sell the product which you might be interested.
When you see in a database lead funnel’s perspective then this stage does not even exist, because the company who sells the database will already be having the data of people who are interested with the products or services which you are selling.
So no need to find people who are looking for similar products and tell them about your product. Instead, buy those databases and contact them directly.
2. Lead Capture
Once you make your potential users aware of your product or service, then the next step will be to capture them.
Capturing in the sense, collecting the potential users’ details, so that you can reach out to them for further discussion. To capture them you should try many different strategies.
It can be paid ads for lead generation, pop-ups to collect user details or free E-book etc., But unless and until the user is interested, he won’t easily let him get captured in the process. So you should come up with strategies which will let you capture the users.
In the ordinary lead generation process, you will have to capture the potential customers so that you can contact them, but when it comes to database lead funnel, you will already have the potential customers’ details.
Then comes the leads. So are they really interested? If they are really interested then they should get converted directly. But leads are the mix of people who are- interested and want to buy, interested but don’t want to buy now and filled the lead form by mistake or without knowledge.
In simple words, leads are a mix of Qualified and false leads.
So in the ordinary lead funnel, you will be getting a stage where you will find leads (Mixed people) which should be filtered by nurturing and understanding the right audience who will actually buy your product or service.
When it comes to database lead funnel, Boom! You already have the prospects, which is the next stage of the funnel. No extreme filtration or nurturing is needed for the second next step which is Sales qualified leads.
When you filter the Leads and take out only the people who are interested, want to buy and interested but don’t want to buy now you will get prospects. Here you should just nurture them so that you might have a chance of getting the 2nd category people as well (Interested but don’t want to buy now)
Prospects are the exact potential customers for your business. Here you send your proposals and try to sell your product or service to them.
Database lead funnel starts from here itself when compared to the ordinary lead funnel.
5. Sales Qualified Leads
Sales qualified leads are nothing but who are interested and want to buy your product. Those leads are fully comfortable and ready to purchase your product. So you should start your selling process with them.
6. Opportunity Leads
Opportunity leads are the one who is interested but doesn’t want to buy now. They are your future leads. There are good chances you can convert them as well but should follow up with better offers and strategies.
Whoa, finally the potential users will be your customers. Hold them tight. Your competitors are hunting too. They will snatch your customers, so don’t forget customer retention. Be loyal to your existing customers so that they won’t search for an alternative.
This is all I can do. I have given you an Idea, Executing is up to you.
Now you can decide if you want to go through a long process, or cut 43% of the lead funnel and make your sales process faster and easier.
Tell me your decision in the comment box and the reason for the decision. You can even tell which funnel you were using until now. I will reply to each and every one.