Get Bigger Profits with the Right Online Lead Generation
Generating sales leads is at the heart of any business. You generate sales leads in either an inbound or outbound fashion. While outbound methods enjoy a longer history of practice, more and more businesses are realizing that inbound lead generation can be much more effective. In fact, online lead generation can result in higher conversion rates, greater efficiencies and, ultimately, a better bottom line.
Online lead generation basics
It’s important, first, to get a handle on online lead generation. Online lead generation is all about gathering customer interest and funneling that interest into any number of customer acquisition models. This can take the form of marketing leads or sales leads.
Online lead generation can take a number of forms, from Cost-per-click advertising campaigns to SEO to blogging and more.
How effective is online lead generation?
According to one recent study, online lead generation may be much more effective – and therefore profitable – than offline lead generation. Businesses that generated more than 60 percent of their leads online tended to be twice as profitable as those that generated less than 20 percent of their leads online.
These figures are staggering, to say the least. They reflect just how rapidly the world of marketing is changing, and how quickly businesses need to adapt in order to stay profitable.
Inbound vs. outbound lead generation
Among those companies using online lead generation, there was also a stark difference between outbound and inbound methods. Outbound methods include those in which your business reaches out and essentially advertises in order to generate interest and gather leads.
In contrast, inbound lead generation seeks to create an environment which draws interested parties to you. Your website becomes something of a hub of information and news in your niche. People who are already interested in your product or service become part of your circle of influence.
This makes inbound lead generation much more efficient. In the same survey, companies who used mostly inbound methods had a significantly lower cost per lead than companies who used mostly outbound methods.
Accordingly, effective online lead generation techniques included things like whitepapers or eBooks, business blogs, and SEO – all of which are inbound methods. Less effective techniques tended to be outbound, and included things like banner ads, PPC campaigns, and YouTube.
The most effective and profitable leads come from online lead generation. Choosing methods that feature inbound strategies will be even more effective and come at a lower cost than those methods that feature outbound strategies.
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