A scalable lead generation system will bring predictability to your business.
Generating leads and turning them into clients is the cornerstone of any business's growth. The more leads you have, the more likely you are to meet your target audience, and the higher chance of conversion. Right?
What if we told you the real value lies in leveraging the leads you already have? That you can work with your existing leads, and craft them into quality leads that you can begin to scale?
And that you could walk into the next investor meeting with a smug smile, your company having reached the next milestone?
Here's a guide on how to build a lead generation machine that can scale your sales.
A well-defined, systematic process for capturing, qualifying and converting leads can help you grow much faster. So, what systematic process should you follow?
Firstly, understand that this process is focused on owning the growth rate of your existing leads. Leverage the teams you already have. Because if your investors are hounding you for a visible growth rate, then you need to hound your marketing and sales team for scaling lead generation and demand.
The growth stage is a critical period for a company as they’re trying to establish a repeatable sales process, develop scalable sales channels and otherwise optimize the go-to-market model. The ability to create demand from prospects is fundamental to fast growth. If sales aren’t able to convert these prospects into customers with high levels of quality quickly, the business will stall.
How do you control your growth rate?
It’s quite straightforward really. The age-old adage of “If we put more in we get more out.” Should be used when considering your lead generation strategies.
Let’s take a look at a typical funnel as an example:
- £50 per lead X 100 leads = £5000
- 100 leads
- 20 qualified opportunities
- 5 close (25% close rate)
- Average deal size - £200 per month
- MRR Increase per month of £1000
- Total Revenue generated assuming they stay for one year - £12,000
While this may be enough for the current phase, you need to know how to grow the final figure. And to do that, you need a strategy to scale the demand.
What’s the problem with your current marketing techniques?
Most marketing activities are aimed at driving people to your website. This is one technique that can be leveraged- but it should not be the be all and end-all. Why? Well, the average conversion rate sits between 2 and 4%. So, in reality, this wastes money - as 96 to 98% of those visitors are not converting.
What if you knew there was a better way to leverage the existing leads visiting your website?
Think about how a lead is defined
Whatever your exact definition, whether it’s a form submission or intent from visiting your website, it should all boil down to this: Can you follow up with someone?
If you can follow up with someone and they fit the criteria of someone you can help, then they are a lead.
Now that you’ve defined what a lead is to your business, we need to consider the lead rate.
What is your Lead Rate?
When defining your lead rate it comes down to asking these three questions:
- How many leads do I need?
- How quickly do I need them?
- Where can I get them from?
Depending on how you answer these questions you will be led down one or multiple avenues for your lead generation.
For example, if I need 100 leads per month and I can get them from organic search but I need them by next month, then choosing SEO as my primary tactic is unlikely to be successful due to the length of time it takes to rank on the first page of search engines.
That is not to say you remove SEO entirely, you may keep it in your marketing mix to reap the long term benefit.
The conclusion you must come to is what mix of activities will provide you with the correct number of leads of the right quality and in the right time frame.
The consequences of your answers to these questions is that the tactics that you choose all have different potential to scale. Attending events has less potential to scale than paid ads, as an example.
Coupled with our knowledge that only a small percentage of website visitors will convert, we must be as efficient as possible at being able to identify possible leads and follow up with them.
How do we do this?
De-anonymizing your website visitors
We know that most websites have anything from a 2% to a 4% conversion rate. This means you must generate anything from 2500 to 5000 monthly visitors to generate your 100 leads per month.
By looking at our marketing mix generated by our lead rate questions you can start to see how this inefficient way of working can become quite costly- especially once we start to need 200, 400, or even 1000 leads per month.
To increase our efficiency we need some big wins and the one we are going to show you is to de-anonymize your website traffic.
Knowing who has been to your website provides your sales team with a targeted list of people that they can follow up with.
From our own research we have found that anywhere from 15% to 30% of website visitors can be de-anonymised.
If we apply this to our original funnel of 5000 visitors providing us 100 leads to follow up with. When you add this new source of leads into the mix you have 750 to 1500 leads to follow up with.
This is a massive increase in the number of leads your sales team can follow up on. It also makes scale much easier to achieve because you need fewer website visitors to achieve your targets.
Now we have this information, what do you do with it?
When someone visits your website they are showing intent based on the pages they view and the source of their visit. As an example, someone clicking on an ad is showing their interest for whatever that ad offers.
People visiting particular blog posts or product feature pages are showing intent or interest in that particular subject.
Once we have the intent, we can use it.
Take your de-anonymised traffic and put them into outbound sequences using the intent information you gathered as the reason for reaching out*
*This does not mean you say “hey i saw you were on my website” because that is weird and creepy.
But better still if you have a linkedin ad talking about how you offer Google Ads management services. De-anonymize everyone who went to the landing page for that advert and use Google ads management as your key value proposition when reaching out.
They have already shown their intent or interest in the subject by clicking your ad and visiting the landing page.
You will find that it is possible to create multiple audiences like this one and have an outbound sequence for each of them.
Continue to scale
By leveraging these tactics you can work much more efficiently but also scale far quicker and with lower costs as you are able to follow up with a greater number of your website visitors.
In addition, by creating multiple outbound sequences based on the intent of your website visitors you are personalising your approach to the needs of each account.