Fadi Agour, CEO of RPM, is a leading performance marketing agency connecting high-intent consumers with leading brands.
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Many marketers find that lead generation is their biggest challenge in the digital marketing space. While getting leads is a struggle, we often find that businesses also struggle to increase their ROI for each lead after conversion.
No matter how much you spend on leads, you won't get a good ROI if you don't know how to use them correctly. That's why, in this article, I'll share some tips for getting the most out of every lead you buy.
What Happens When You Buy Leads For Your Business?
Leads typically hear from an organization after they have initiated interest by submitting their personal information for an offer, trial or subscription.
Not only can businesses generate leads themselves, but they can also purchase these data leads through a lead generation service. Just make sure the provider you're working with sources data ethically. For example, our agency uses first-party data of opted-in consumer profiles to generate leads for businesses.
When you buy leads for your business, you save time by having a list of potential customers that you can contact right away. This also helps you save on resources because you don't have to spend as much money on marketing and advertising to reach these people.
Additionally, it can help you build relationships with customers and create repeat business. When you have a list of leads, you can contact them directly and offer them your products or services. You can also follow up with them after they've purchased something to thank them and see if they're satisfied with what they've bought.
All in all, by buying leads, you're able to reach more potential customers in a shorter amount of time, which can help you grow your business.
What Is Lead Nurturing?
Lead nurturing is the process of developing relationships with potential customers, usually through email or other online communication, to build interest in a product or service. The goal of lead nurturing is to eventually turn a lead into a paying customer. To do this, lead nurturing must be personalized and relevant to the lead's needs and interests. Lead nurturing also requires ongoing communication; it's not a one-time effort.
By developing a relationship with leads and providing them with useful information, businesses can increase the chances of converting leads into customers. However, you still need to nurture those potential customers once you have them on your leads list. This means that lead nurturing continues long after someone is already a lead.
5 Tips For Getting The Most Out Of Your Leads
There are several ways you can nurture a new lead through the customer journey to ensure they develop into long-term, high-value customers. Doing so can increase your return on leads and help decrease your long-term marketing costs.
1. Follow Up Accordingly
It can be easy to think that once a lead has converted, your job is done. However, following up with leads is just as important as the initial contact. By staying in touch, you can build a relationship with the customer and ensure they are satisfied with your product or service. This can help to encourage repeat business and referrals.
Furthermore, follow-up contact allows you to upsell or cross-sell additional products and services. By staying in touch with your leads, you can maximize your chances of developing a long-term relationship with your customer, thereby increasing your ROI.
2. Use Targeted Email Marketing
To increase your ROI, it's important to send targeted emails to new leads after you buy them. First, this helps to build trust and credibility with the lead. They're more likely to engage with your brand if they feel like you're speaking directly to them. Additionally, it allows you to stay top of mind with the lead. Even if they're not ready to buy right away, they'll remember your name when they are ready.
Proven strategies for personalizing your email communications include addressing your recipient by name, personalizing the subject line so that it will be opened, segmenting your list, and using your recipient's browsing data. We group our email lists into segments that the users have in common, like their location. For example, it's easier to customize a similar message when we are emailing our users in Texas to tell them about a promotion offered at Whataburger and poking fun at In-N-Out.
If you can provide value and solve a problem for the lead, they're more likely to do business with you in the future. So make sure you send those targeted emails!
3. Align Your Sales & Marketing Strategies
Aligning your sales and marketing strategies will ensure that your message is consistent and that your sales team can effectively follow up with leads. Marketing and sales teams often have different goals and priorities, so aligning them can be a challenge. However, it's essential to ensure that both teams are working together toward the same goal if you want to improve your ROI.
4. Invest In Multichannel Lead Nurturing
Once you have a potential customer's attention, you need to nurture that lead and turn it into a sale. And one of the best ways to do that is through multichannel lead nurturing. With multichannel lead nurturing, you can reach potential customers through a variety of channels, including email, social media, webinars and more. This allows you to build a relationship with them and keep your brand top of mind. Additionally, it allows you to cater your message to each type of lead, increasing the chances they'll take a desired action.
5. Focus On Reducing Churn
Finally, once you've converted a customer, it's important to focus on reducing customer churn. There are several ways to do this, such as improving customer service or offering incentives for loyalty. By reducing customer churn, you can improve your bottom line and increase your lead generation ROI.
These are five of the steps your sales and marketing teams can take to increase the ROI from your lead generation campaigns. Our clients have had much success implementing these same action points.
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