In marketing, lead generation is the generation of consumer interest or inquiry into products or services of a business. A list of qualified leads is a priceless asset for your company. It’s cheap to build and works great for every kind of business.
1. It’s Cost Efficient
Getting someone’s email is much easier and cheaper than trying to close a sale right off the bat. It’s also a great way to start building a relationship with a potential customer.
Talk to your users with a blog post, or a Facebook Ad. You get to know each other through lead generation and finally, if there’s a fit they’ll become customers, and you have your happy ending.
2. It builds Brand Awareness and Loyalty
Who would you rather buy from:
This answer is usually number two. Those who visit organically and are part of our community (social followers, subscribed to our blog, etc) tend to have a much longer customer lifetime value (CLTV) than others
Direct Advertising
Cost to Acquire a customer: €15
Average Lifetime Value: €167
Lead Generation
Cost per lead: €1.5
Conversion rate from Lead to Customer: 20%
Cost to acquire a customer: €7.50
Average Lifetime Value: €237
Through lead generation you could manage to halve the cost to acquire a customer while also increasing the revenue generated by each customer!
Savvy Business Gals can help you with lead generation so book your FREE strategy session today. You can also find us on Facebook!