Knowing how to generate leads is an important part of any B2C business.
Lead generation is only one part of what it takes to succeed in the B2C space, however. To get the most out of your business you have to know how to convert those leads into actual customers. There are a number of ways to accomplish this, though some are more effective than others.
Depending on your business and the products or services it sells, you may find that you are able to maximize your conversions through different tactics than some other companies. To help you discover the tactic that works best for you and your business, we shall explore three different tactics that you can try to help maximize your conversion efforts.
Account-based marketing (ABM) is the first strategy to consider.
What is ABM?
Account-based marketing is an approach to marketing that focuses on a small number of high-quality leads. This approach tries to convert as many bottom funnel leads as possible.
This strategy may seem counterintuitive to some, but the leads that you interact with in ABM are already more likely to convert than a lot of the leads that you would encounter in a more traditional funnel system.
The leads generated in an ABM marketing plan also receive more personal attention than what you would find with leads in other marketing plans. This is one of the reasons that ABM is so effective; leads get the type of personal touch that is hard to find in marketing, establishing a stronger relationship between the leads and the company, which can result not only in sales but also in ongoing brand loyalty.
Developing ABM leads
When developing ABM leads, having as much information about both potential leads and your ideal target is essential.
You will want to create personas to represent the companies or individuals who are most likely to purchase the product or service you are marketing, then match potential leads against these profiles. Include information such as job title, their role as a decision-maker within a company, how long they have been with their company and even how they interact with your advertising content.
Once you have identified the companies or individuals that closely match your personas, contact them (or follow up if they have previously contacted you.) If you are making contact with a company, target those decision-makers within the company that best match one of your personas and use them as an entry point to an arrangement with the company itself. Use personalized content and highly targeted campaigns to engage your leads, working toward a relationship that can then be used as a starting point for conversion.
Nurturing leads for conversion
As you work toward conversion with an ABM lead, try not to rush or put too much pressure on them during the early days of contact as this can reflect badly on your company.
Remember that unlike most other forms of targeted marketing, with ABM you are typically the one who sought your targets out. Try not to come across as desperate or impatient or you could quite easily lose the lead that you put so much work into identifying.
This doesn’t mean that you shouldn’t include a call to action or use other tactics to try and reach an agreement, of course. Just keep in mind that your contact with an ABM lead should be much more personal than what you would normally have with a standard lead. If things go well, the ABM lead that you spend time nurturing now could turn into a long-term customer for your company.
Read part 2