Today, we will discuss the topic of «Lead Acquisition Strategies to Achieve Marketing Goals: Considerations and Specific Measures for the Golden Ratio of Potential/Actual Leads». Thank you for joining us.
As marketers, many of us aim to acquire as many high-quality leads as possible. However, the methods to acquire high-quality leads that immediately lead to orders are limited, and there can be confusion about how much to expand to potential customers and whether orders can really be obtained from potential customers. Today, I hope to address these concerns.
Balancing Potential and Actual Leads:
Let’s start by discussing the balance of acquiring potential and actual leads and how to approach this balance. In MARK DESING STUDIO, we evaluated the effectiveness of measures based on whether the leads acquired through various channels such as seminars and white papers directly led to orders. This retrospective approach often led to high evaluations only for measures that acquired leads close to ordering. While this was good for acquiring the «now» layer, we neglected measures that contributed to creating initial contact and maintaining interest in our services. This imbalance led to increased costs and stagnation in lead numbers. I’d like to hear your thoughts on this,
Thank you. We made the same mistake. When I became the marketing manager, I stopped all exhibitions and seminars, diverting funds to digital advertising. While listing ads led to a significant increase in document requests, it didn’t result in more orders. We realized that merely capturing the visible part of the market wasn’t enough; the majority were still comparing us with competitors. This taught us the importance of balancing potential and actual leads to expand the market and grow the business.
Limitations of Over-Focusing on Acquisition:
do you face similar challenges with advertising as the main support measure?
Yes, focusing solely on acquiring actual leads can limit growth. Increasing the number of buyers means increasing the types of buyers. By targeting only actual leads, we narrow down the types of buyers, which can lead to stagnation.
I see. Over-focusing on acquisition might seem logical but can limit future growth.
It’s crucial to consider both immediate and long-term strategies for potential leads. Some potential leads can quickly convert if their needs are recognized, while others require nurturing over time.
Strategies to Convert Potential Leads into Orders:
How can we convert potential leads into orders? Don’t assume potential leads always take longer. There are two main routes: immediate conversion by recognizing needs and long-term nurturing. Showcasing case studies and delivering insights can quickly convert some potential leads.
We share the same view. It’s risky to assume «potential = long lead time» and «actual = short lead time». Look for potential leads that can quickly convert once they recognize their needs.
Effective Communication for Potential Leads:
What should be done to create orders from potential leads? Don’t use the same promotion for both potential and actual leads. Different audiences need different messages. Segmenting communication is crucial. Use the Who-What-How framework to clarify who has what needs and address them accordingly.
Aligning with sales and creating case studies first can help new approaches. Case studies give sales confidence and make new approaches more viable.
Case Study: Generating Orders from Potential Leads at Exhibitions
We found that the ratio of hot, warm, and cold leads at exhibitions doesn’t change much for new or existing leads. Exhibitions accounted for 35% of our orders. It’s important to combine exhibitions with webinars for effective lead conversion.
Tips for Increasing Lead Acquisition:
- Emphasize collecting business cards, as the number of hot and warm leads is proportional to the total number of collected cards.
- Engage companions and inside sales staff for better crowd attraction and lead collection.
- Use barcode readers to track the number of collected cards by time and analyze traffic.
- Adjust staff shifts to ensure enough manpower during peak times.
Case Study: Tailored Communication for Potential Leads
For a nursing recruitment site, we created separate landing pages for actual and potential leads. For actual leads, we emphasized decision-making factors. For potential leads, we highlighted messages like «considering a future job change» or «ease of returning to work». This approach increased conversions and lowered costs.
Conclusion:
Balancing potential and actual lead acquisition is crucial. Expanding the range of target audiences and tailoring messages accordingly can increase the number of actual leads.
