lead sourcing

Are you looking to drive more traffic to your site? When done right, lead sourcing is an effective way to increase sales and boost your ROI. Read on to find out the dos and don’ts of lead sourcing.

What is lead sourcing and why is it important?

Lead sourcing is a form of advertising that businesses use to capture a visitor’s interest, with the end goal of turning them into a customer. It can also be referred to as lead acquisition.

Lead sourcing is an important step towards qualifying visitors. The practice helps you to sift through the people who want to learn more about your product and tells you who is most likely to make a purchase.

In short, leads generate sales, making them a vital part of any successful marketing strategy.

How is lead sourcing used?

Businesses typically use lead sourcing when engaging in the practice of list building. This is essentially a list of leads a business has collected that they intend to target. They will then approach these leads with information, communications, seasonal discounts and special offers for their products or services.

A business may gather leads through website contact forms, referrals, networking through social media or even phone calls made by their telesales marketers.

Do’s of lead sourcing for business

1) Do collect leads through natural methods

Try to generate leads by providing high-quality content that potential visitors may be interested in. A visitor that lands on your page has a problem that needs to be solved, and by providing information that helps them to solve this issue, they are more likely to invest in you.

It is also a good idea to pair this with a call-to-action or a lead magnet that allows you to collect their information. By doing so, you now have a potential lead that you can market your services to in the future.

2) Do focus on providing value

Leading on from the first point, it is important to prioritise value to your audience at all stages of their buyer journey. Value can be delivered in the form of  a blog post, video or email newsletter that provides up-to-date information or imparts knowledge that’s relevant to your field.

Your potential customers should not feel like they are being sold to. Instead, they should feel like they are missing out if they don’t sign up for your products or services.

3) Do be patient

Lead sourcing takes time and effort. You may not always get it right the first time, and it may take a while before you start to see the results you are looking for.

By focusing only on the important metrics (e.g., the number of email sign-ups) and analysing how you can increase this number (changing the location of the call to action, for instance), you can better target your efforts and are guaranteed to see gradual progress over time.

4) Do have a lead generation strategy

This is a plan of action that you are going to use to collect potential leads for your business.

This plan should specify the goal you are trying to achieve (e.g., collect 100 email sign ups by the end of the month) and the step-by-step methods that will help you reach it.

You should also track your progress weekly and review what you did well and how you can improve in the future.

Don’ts of lead sourcing for business

1) Don’t buy a pre-built list of leads

This may seem like a faster way of collecting a huge list of potential customers, but it is almost never a good option and may hurt your brand in the long run.

The reason for this is that purchased leads do not know your brand. They are most likely on the list because they have opted in to an offer from a different company in the past. This means you will have to rely solely on cold selling, and your leads may build a negative impression of your brand.

2) Don’t hard sell with promotional offers

If you are looking to provide value to your audience, don’t spend all of your time talking about your products and how much benefit they will bring. This will turn potential leads away, as they will feel like you are only trying to get money from them rather then offer them value.

Promotion should be secondary to value. As a result, it will seem like your service is the natural solution to the problem they’re experiencing.

3) Don’t give up too soon

Lead sourcing is an art, and it’s not something you will see immediate results with. The last thing you want to do is get frustrated if your blog post is not generating leads or your ad is not performing as well as you would like.

Only through consistent analysis and iteration will you see progress. This is best done by establishing what you want to achieve, setting a goal, brainstorming ways in which you can achieve it, testing your hypothesis and learning from your results.

4) Don’t rely on only one source for collecting leads

You should try and aim for at least 2-3 different methods of lead sourcing.

If you only rely on one method, not only are you putting all your eggs in one basket, you are also limiting the amount of leads you can potentially get.

Try to use different strategies and see which one works best for your business.

How to generate high-quality leads

Souring leads is time-consuming, so let us do the hard work for you. Contact us with your requirements and we will generate a database of high-quality, verified leads that are specifically targeted to your business.