Think of all the millions of dollars and hours of effort that go into lead generation every year across consumer-based and B2B marketing. According to Statista, companies are projected to spend more than $3 billion on lead generation in 2021 alone—and that's only digital ad spend, only in the United States, and does not account for all the labor cost to support those efforts. So it makes one wonder: Why after that enormously costly endeavor, do we still push new leads through a Henry Ford-inspired CRM assembly line of marketing qualification, sales qualification, sales outreach, conversion...Rinse; Repeat?
Traditional, funnel-driven lead generation is ripe for disruption.
At CredSpark, we work with client content to create interactive experiences that drive desired audience actions and transactions, as well as achieve specific business objectives. In our work with lead generation, we've surfaced three important insights that we think you'll find useful.
With all the "hunting" and "capturing" metaphors used in describing lead generation, it's no wonder that prospects are in a constant state of fight or flight when they encounter our lead generation efforts on the vast marketing savanna. Prospects have to weigh if 'taking the bait' is worth the endless stalking that will occur afterwards. The worst thing? Both sides know that it's a terrible experience. Lead generation doesn't have to be a zero-sum effort. We suggest creating an interactive experience that gradually draws in prospects and provides tangible value for them every step of the way. It's a less mercenary approach that invites prospects to discover, experience, and interact with the value your products or services provide. It's a compelling experience that turns the "capture" process into a two-way conversation with value for both sides.
We all know that any great, productive conversation is essentially a robust back-and-forth. Go beyond your product/service experience and ask your prospects about their needs and interests. Ask targeted questions and you'll surface invaluable nuggets of intel, including better understanding of prospects' goals, measuring their purchase intent, quantifying budgetary limitations, and more. Keep it short and make sure you position it as relationship building. Most important, keep that "value balance" more heavily weighted in the prospect's favor.
Here's where it gets interesting: Every element of this compelling conversation with prospects generates data. Savvy clients design questions and experiences that better inform their lead quality factors. Interactive lead generation experiences help you shorten the traditional marketing funnel by qualifying your leads right at the point of collection. And in the process, you get deep insights and intel that will better inform future interactions and deepen your customer relationships. Based on prospect input, you can directly connect them with the appropriate sales rep, showcase relevant offers and deals, point them to nearby retailers, and surface the exact relevant products and services that meet their specific criteria. Interactive Lead Experiences are immensely powerful tools that can help your sales teams enhance their outreach efforts and drive measurable results.
It all starts by putting the prospects needs first and wrapping it in a compelling experience that drives action. What would it look like in your organization? Let's find out with a few questions...
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