6 Most Common Lead Generation Challenges & Their Solutions
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Lead generation is one of the most common and traditional methods of marketing. It has been adopted by marketers for years, in one way or another. However, the process of collecting and collating authentic leads can be difficult sometimes. And if you’re looking for a solution to your lead generation challenges, you’re in the right place!
In this blog, we’ll touch upon what lead generation is, and the most frequent lead generation challenges people face. We’ll also look at the steps you can use if you’re stuck. So let’s go!
Quick Intro to Lead Generation
What Is Lead Generation?
The process of acquiring potential customers’ contact information by invoking their interest in the products or services of a company is referred to as lead generation. Every potential customer is called a “lead”. Moreover, businesses may focus on generating leads for email list-building, increasing sales, or simply for promoting the brand.
Why Is Lead Generation Important?
Lead generation marketing plays an important tool in expanding and promoting your business. There are various reasons why lead generation is so important. We’ll list a few for you:
- It is the lead generation process that eventually turns a potential lead into an existing customer for any brand, thus increasing sales.
- In addition to that, the lead generation process lets you know exactly who your customers are, and what their preferences are. And your customers learn how your brand can provide solutions to their queries.
- Furthermore, including an efficient lead generation process is important because it ensures a hassle-free experience for both the potential customer with their query and for the brand providing the solution to the query.
If you’d like to learn more about the basics of lead generation, check out our complete guide to lead generation below!
Lead Generation Challenges
1. Merely Relying on Referrals
Many companies tend to overlook their lead generation process in favor of focusing more on referral and word-of-mouth marketing to generate sales. There’s no doubt that referrals and word-of-mouth marketing are vital to any company’s sales and marketing strategies. But, they are not enough.
A referral marketing strategy may not guarantee you authentic leads or be a cost-effective strategy. Therefore, it is important to make sure that your business has a proper lead generation campaign in place. It would be a methodical and sure-shot way to increase sales as your prospective leads move down the steps and convert into customers.
2. Finding & Forming an Appropriate Lead Generation Strategy
Upon deciding to implement a lead generation campaign, your next dilemma might be how to ensure your campaign is successful.
To combat this, you should ensure you have enough relevant information about your customers to be able to share your lead generation campaigns where they can find you. In other words, you should know the preferences of your potential customers, their most common queries and the methods they use to find their solutions.
For instance, if you run an automobile company, do your potential customers sometimes have issues finding which kind of car they should buy? Do they then use google, or social media sites to connect with other businesses to find the most appropriate options according to their query? That’s too much work for them!
But, we’ve got a solution! Your lead generation campaign can include an interactive quiz that would help potential customers find the best model/make of car according to their budget. The process gets easy for your prospects!
Additionally, you can share this quiz as an advert on Google or on any social media site, depending on where your customers turn to for their solutions.
Not sure where to create your own interactive quiz? Try Outgrow for FREE now!
3. Collecting Enough Funds for Your Lead Generation Strategy
Sometimes, it can be hard to calculate exactly how much you should be spending on your lead generation efforts, especially as a new business looking to expand further.
Do keep in mind that spending a luxurious amount of funds on your lead generation techniques or campaigns will not be able to guarantee success.
Conversely, your lead generation strategy may seem simple to you but may be impactful enough for your potential leads to turn them into existing customers for your business.
You should ensure you target your customers regarding solutions to their queries, and where they can find them. Once you’ve met your targets for conversion rates and sales, you’ll quickly see it wasn’t how much you spent on your campaign, but rather how much the campaign meant to your customers that will get you far!
4. Generating Good Quality and Quantity of Leads
Our list of lead generation challenges would be incomplete without including this point! Certain leads may abandon your lead generation campaign halfway, while others who may be more relevant to your brand might not even be aware of your lead generation techniques in the first place.
To avoid this, personalize certain elements of your lead generation campaign to engage with customers on an individual level. And this can easily be achieved through interactive content!
Let’s look at the brand Masculine Style as an example. The styling consultancy managed to gather 35,000 leads, and 137000 visits and increase their conversion rate by 26%! This was all thanks to the personalized quiz they shared that allowed people to learn their archetype and improve their personal style.
Want to learn more about how interactive experiences in lead generation can boost your sales? Check out our blog here!
5. Tracking ROI for a Lead Generation Campaign
The next most frequent challenge is keeping track of how successful your lead generation campaign was. Tracking the ROI of your lead generation campaigns enables you to learn about the weak points in your campaign, and where you can do better to achieve a higher conversion rate at the end.
It can be hard to find the most appropriate and reliable method for keeping track of your lead generation metrics. And that’s where Outgrow’s builder can help ease the burden!
Our builder makes it effortless for you to track the performance and metrics of your interactive content campaign using the Analytics tab. All the leads, visits and conversion data can be easily accessed and analyzed right from where you made your interactive content.
6. Nurturing New Leads Generated
The lead generation process does not end once you acquire your new leads. Rather, you also need to focus on nurturing the new customers you have. In other words, you should ensure you keep engaging consistently with your customers. This will ensure they come to you first when looking for solutions to their future concerns.
Nurturing your customers will also help elevate your brand as they would feel heard and appreciated if you keep engaging with them regularly. One of the most efficient ways to do so at the end of your lead generation campaigns is through interactive content!
That’s exactly what online golf equipment retailer Golf Avenue managed to do! They shared an interactive quiz titled “Guess Your Handicap” with their customers. Additionally, they added different discounts and coupons within the quiz. This helped increase their customer satisfaction and loyalty rates overall.
Now that we’ve discussed the most common lead generation challenges, let’s see how you can find a fix for these troubles!
Read more – How to improve B2B lead generation campaigns
Lead Generation Ideas & Solutions
Now, let’s take a look at the most useful lead generation ideas and solutions!
1. Using Interactive Content
Incorporating interactive content in your lead generation techniques is an excellent way to ensure the success of your campaign. Interactive content can help in –
a. Improving the quality and quantity of leads
b. Promoting brand to newer customers or potential leads
Interactive content is increasing in popularity daily. Thus, creating your own viral interactive quiz or poll can help increase awareness about your products and services far and wide
c. Increasing customer engagement
Sharing an interactive content piece with your customers on different platforms will give them a chance to learn more about your brand in a fun and engaging manner.
d. Being cost-effective in lead generation campaigns
Lead generation can be as cost-effective as a penny when done on Outgrow! Our builder will enable you to create the perfectly customized interactive content piece that would fit snugly in your lead generation campaigns, thus reducing the need to set up funds aside for this marketing strategy.
e. Decrease reliance on referrals for new leads
Implementing interactive content in your lead generation campaigns can support and work alongside your existing marketing campaigns to ensure improved conversion rates as well as customer engagement and satisfaction rates for your brand.
Let’s look at the benefits of implementing interactive content into your lead generation strategy in practice –
Bolt iOT, a hardware and software platform, was able to generate more than 65000 leads, 121000 visits and increase their conversion rates by 54% simply by sharing an interactive quiz to promote their training program.
Check out all the numerous benefits of interactive content here!
2. Creating an ROI Calculator
Creating an ROI Calculator of your own will help you improve your lead generation campaigns because –
- The ROI calculator will be customizable. This means you can add whichever questions/categories that suit you and help you keep track of your marketing expenses.
- Creating the calculator on Outgrow’s builder will be a hassle-free/no-code method to get your results in minutes.
- Integrations in Outgrow enable you to send or share your lead generation/ROI quiz data anywhere for easier categorization of important information.
Let’s look at an example of an ROI calculator. This quiz will help you easily fill in important information related to your marketing and lead generation campaign. Likewise, it makes gathering data and conducting complex calculations effortless too!
3. Optimize Your 404 Pages for Generating Leads
A 404 page conveys important information for those visiting your website. But it can be incredibly useful for you too. Simply embed an interactive quiz/poll/survey on any 404 page to get started.
The interactive content could be to redirect the user to a different webpage addressing their query, or it could simply house a recommendation tool to give an idea of your brand’s offerings. See how we have added a recommendation tool for our 404 pages.
The trick is to turn your static 404 pages into a more engaging experience for your customers or potential leads, and you’ll soon see your lead generation rates skyrocket!
Want to learn more about converting your 404 page into a lead generation hub? Check out our blog here!
4. Sharing on Different Platforms
Creating and sharing interactive content on different platforms can help improve lead generation as it –
- Helps to nurture converted leads: By sharing a quiz or calculator in an email campaign with your new customers, is an excellent way to nurture your new leads.
- Helps increase customer engagement: Once you share your interactive content on your email newsletters and social media platforms, you would be giving your customers more opportunities to engage with your brand while having fun!
- Makes your engagement process more efficient: On Outgrow’s builder, you will have the choice to send email notifications to all the customers who engage with your interactive quiz or lead generation chatbot, once they share their details in the lead generation forms. This will automate your customer engagement process and make it hassle-free!
There you have it! Although lead generation is a crucial marketing strategy for all businesses, it does come with its own trials and tribulations. But it doesn’t have to be that way anymore! We hope this blog was able to help you find more ways to ease your lead generation troubles and make it a seamless process instead.
Ruchira Asiwal is a Marketing Strategist at Outgrow. On her days off you can find her seeking some general knowledge about everything that catches her eye or reading fascinating books that blow her mind.