Man’s best friend may be a dog. A girl’s may be diamonds. But for business, it’s leads.
Particularly, leads that have the potential to become paying customers, because nothing happens without a good lead. No sales, no revenue, no profit.
Even with one of the best products in the world, a business is likely to fail if no one knows about it. Yet, others businesses manage to be successful despite having average products. This is because they’re winning the lead generation game, where more leads mean more revenue, and more revenue usually means more profit.
With that, online real estate marketplace Lamudi Philippines takes a look at a handful of ways you can grow your bottom line by growing your leads online.
1. Develop and optimize informative content
It’s no secret that content is one of the most effective ways to draw web traffic, which in turn attracts more leads. It’s important, however, to make sure that your content is made not just to get more traffic, but to keep them by being as informative and as relevant to users as possible.
High-quality content can be quite the asset for your business, as it can continue drawing users to your website even after the time it’s published. Whenever possible, make sure to include images, infographics, and even videos to boost shares and engagement.
2. Engage your leads directly
While content is key, you shouldn’t just rely on the indirect engagement of your leads. Direct engagement should be a priority, since the sooner you respond to customer queries, the more likely they are to buy from you. This can be done through live chats, answering forum questions, or having customer service centers.
Research has shown that through immediate and persistence response, companies had their lead generation rise threefold. It was also similarly determined that even though some leads are online to price shop, it’s the sense of loyalty that brings them back to the vendor who initially provided them with information and prompt customer service.
3. Create new leads and repeat service with old customers
Providing a great product or service commonly means having happy customers. While this in itself should already be rewarding for your business, it is important to ensure that the relationship with customers does not end there. Check with them a week or so later, asking them to provide an honest review of how you did, and if they have family, friends, or colleagues who can benefit from what you offer.
Remember, referrals are account for almost two-thirds of all new business, and leads who are referred by someone they know are four times as likely to make a purchase. Even if they don’t respond or give a review, your communication keeps your business and the experience they had in mind, making it easy to recall when referring you to potential new leads or needing you again.
4. Good reviews equal a great reputation—which means more leads
Complementing referrals, reviews are an inexpensive way to promote your business and gain more leads online, done simply by allocating space on your web properties for customers to rank their experiences. Almost 90 percent of buying decisions are influenced by online reviews, and showing interested parties how valuable your business and what it offers plays right into that fact.
While there is the possibility of a customer giving a bad review, having one would be more indicative of what you’d need to improve with your products or services, and not the manner which you generate leads. A bad review may also not always be a problem, as they provide an opportunity to make things right and show others the true quality of what you offer.
5. Consider cross-promotion and/or co-marketing
Working with other non-competitive businesses opens up your own company to the opportunity of exchanging leads, promoting each other’s products and services, and a number of other mutually beneficial activities. The leads generated from such can be quite good, up to the point that it is almost at the same quality of a referral.
While the pro of being exposed to a totally different market is quite relevant, the downside to cross promotion is that it may be a little time-consuming. However, since it’ll be done on in the form of guest posts and co-branded content on both your online properties, it will be easier to manage compared to co-hosting events or producing and selling or giving away co-branded items.