21 Nov Why Are There Few Lead Generation Companies?
The term Lead Generation is spoken more after the online marketing exodus. Many businesses started generating leads through online marketing and the trend is growing higher and higher. Somehow the number of companies delivering lead generation services has not gone up. This is a surprising fact as we see a lot of digital marketing service providers and still they aren’t offering lead generation services. We can easily conclude lead generation is a niche service and not many are well versed in running a lead gen campaign. But why aren’t they? If you call yourself a holistic digital marketing firm, you must possess all these skills. Here are some point wise reasons that list out the gaps involved in offering lead generation services.
Understanding your Industry & Audience
Not all industries are the same. Each one is unique and all requires different level of understanding to move forward. For example, fashion is an industry that focuses more on young adults and insurance focuses more on the working class. Each has a different persona. If you’re running a lead generation company, you must understand all these factors thoroughly before targeting them. Most importantly, you have to see what they like the most. But digital marketing companies are not ready to look at all these factors and the least they wish to be involved is SEM and SEO in the basic level.
Understanding the Geography
Consumer behaviour changes from geography to geography. For example, Pizza in America is a completely different version. The actual pizza made in Italy is light and crisp. But Americans made it heavy i.e. as per their style. Likewise people have the option to transform something into their own version. Not necessarily they would tend to accept your product. Hence you need to understand the Geography before even stepping your foot there. Know the story of Nestle entering Japanese market? Yes, you need to understand your consumers the same way.
Choosing the Right Platform for your Business
Not all platforms are suitable for your business. For some, Facebook works the most and others feel LinkedIn is better. All are right, but you cannot change the traditional strategy you’ve been following to generate results. For example, let us say since beginning you’ve been generating results through Facebook. Now you have a new social media platform like Snapchat and you want to shift there. This strategy will kill your brand quite rapidly. Always stick to your basics and slowly experiment other platforms. Never shift focus completely as it is suicidal to your brand.
Fear of Generating Unqualified Leads
The most important of all reasons why digital marketing companies are not into lead generation. You submit an advertisement in Facebook. You’ve also got some set of leads. But 8 out of 10 are unqualified i.e. let us say they all randomly filled the form.
This is where you get to lose. You tell people that you’ve generated 10 leads and 80 percent of them are unqualified. Therefore your reputation is at stake. As a lead generation expert you must know how to tweak to reach to the relevant audience and how to tweak to generate in 100s and 1000s.