Driving new leads to your business will increase your bottom line. We always believe that you can never stop learning about old ideas and new ones.
Suttida Yang discusses 4 ways you can drive leads to your business.
Four Strategic Ways To Drive Leads And Increase Your Profits
By Suttida Yang www.forbes.com View Original
Think of marketing like a puzzle. There are plenty of pieces that make up marketing as a whole, and one large part of that puzzle is digital marketing. The smaller pieces of the puzzle are various strategies you can use within digital marketing, like content creation, social media marketing and lead generation.
Digital marketing is an industry where you will constantly be called upon to add new pieces to this puzzle. One thing you should be considering when you are experimenting with innovative strategies is: Will this strategy bring in new customers or are we targeting repeat customers?
If your organization’s goal is to generate new interest in your products, that means you are looking for more leads. But what does that mean for your digital strategy?
These four marketing techniques are designed to increase your lead generation and have the potential to double your profits.
1. Only target consumers likely to buy.
Without a clear plan of who you will be targeting, running digital ads can quickly blow through your entire budget without positive results.
Most of today’s advertising tools allow you to target a broad group of people and narrow in on specific personas, meaning that if you do not completely understand your buyer, it can be detrimental to your campaign results.
Further, rather than wasting any of your marketing dollars on tools that do not serve the greater purpose in helping you achieve your goals (lead generation, sales, subscribers, etc.), make sure you are clear on what you need to track and measure. 2. Utilize a closed-loop attribution tool.
This is another area where data can help you drive leads and turn them into purchases. You may notice a theme by the end of this article because much of digital marketing can be improved with the use of individual data.
A closed-loop attribution tool helps you learn more about your customers’ journeys from seeing an ad to making a purchase. Closed-loop attribution tools aren’t necessarily a new factor in digital marketing, but they are extremely useful in understanding which channels drive the best results.
If you’re new to this strategy, closed-loop attribution marketing uses data from closed-loop reporting services, like Google Analytics. The idea of “closing the loop” refers to the ability to find out what happens after a lead is generated. That means that you will be able to know what triggered a purchase.
3. Market to people, not bots.
When you look at the data about your site visitors, it is important to make sure the data you are receiving is from actual people.
In other words, it is crucial to the success of your marketing that you learn how to guarantee you are reaching actual people. As tech continues moving toward artificial intelligence and social media giants like Facebook make organic reach more difficult, you may find it harder to reach your audience in the coming years. That said, the best way to combat this new issue is to verify that you are reaching an actual person, instead of a bot. You can do this by tracking URLs, buying data from publishers and purchasing paid subscriptions to make profiles of your target demographic.
4. Advertise on more than one channel.
You should be using your digital marketing advertising budget on a variety of sources. Allocate some of your funds across various advertising channels (social, search, etc.) to help you better understand which ones drive the most qualified leads and sales.
Another key metric to track when it comes to understanding the best performing channel is to look at the lifetime value (LTV) of each customer that comes in. Just because you received an initial sale, you may want to look at how many repeat sales you receive from that one customer.
The two biggest actions you can take with these methods complement one another. First, utilize the data at your fingertips to the best of your ability. Data is one of the hardest parts of digital marketing to master, but it is also one of the most important.
Second, make sure you know your audience. Doing so will ensure that you are aware of what needs to happen within every touchpoint — adjust where needed and stop what isn’t yielding the best results.