Lead generation, as part of the marketing and sales process, boils down to connecting buyers with sellers. The overall process can be very short, such as when a consumer lands on a web page and determines that they will make a purchase right then and there. (For example, buying a book or a DVD).
However, for businesses that have more expensive and/or complex products, as well as businesses that provide service offerings requiring person-to-person conversations, there is an inherently longer sales process. Of course the more expensive or more complex the offering, the longer the sales process.
Lead generation is a vital component of establishing the initial flow of potential customers or clients (beginning with an “inquiry”), who would then move through a sales process, ultimately resulting in money being exchanged. Of course, not every inquiry will turn into a sales-ready lead, and only a percentage of the those leads will become qualified prospects, and in turn, only a percentage of those will become customers or a clients.
Lead Generation Statistics
The above chart represents “Ecommerce Conversion Rate by Product Type.” Pay particulate attention to the different color bars in each product type. The purple represents the “median” conversion rate and the green represents the top 25%. Your first goal would be to get your conversion rate up to the median and then optimize for the top 25%.
Suggestions for Improved Conversions
Improving your conversion rates is a never-ending process. Strive to regularly optimize your performance, or your competitors will pass you by.
It may seem obvious, but your ad and landing page should work together towards the same goal. The more directly they are connected the better. If your ad is for a specific product but the landing page takes the visitor to a category page, you’ve lost many potential customers in the first few seconds.
Split Testing: You should always test at least two ads a time. Keep improving your existing ads and endeavor to come up with new ones that will beat out your higher performing ad.
Make your text easy on the visitor: Your features and benefits calls to action should be simple to read and immediately accessible.
Emphasize your Call to Action: This is worth underscoring. Make it very and clear what the visitor should do. Buy Now. Watch the Video. Subscribe Now. It might seem too obvious, but these CTAs are proven to increase conversions.
Testimonials: Highlight that your product or service works. Show reviews and testimonials and quotes from the press.
Avid hiker, bicyclist, motorcyclist and long-time advertising pro. Founder of Skyworks Marketing, Nonprofit Fire and Our Ventura TV (cable TV). One career highlight was working on a small team that built a business from nothing to over $100 Million in 3 years. Skyworks Marketing provides video advertising and lead generation services. We create custom marketing funnels that provide the highest-quality leads and sales.