How to avoid common mistakes and make the best out of your limited resources, five-step guide to entrepreneurs and new businesses.
The growth of online lead generation is similar to a person who is on diets. It is slow, it’s difficult but with the right discipline, the best results are inevitable. The most common mistake that businesses make is that they shift from one strategy to another too soon. Similarly, a person on a diet might shift from one routine to another before the first one settles in. Because every great strategy takes time to show the results, patience is key.
There are only two ways to grow your business more customers and more transactions. The bigger the transactions the better the value. Your product should have a unique selling proposition (USP) which will help people to take a decision to buy your product rather than your competitors. It is important, to be honest, and sincere about your product and services, the growth will follow long term.
So if you are business struggling to make growth, here are some tips that can help you prioritize actions.
Understand the buyer’s life cycle.
Many businesses want to have instant value for their product and most thinking in terms of revenue is done short term. But it should be noted that seasoned brands engage their customers at every step of the funneling process. They make sure a healthy trustful relationship is maintained all throughout the process. It is like a great collaboration and at the end of it, customers will choose your brand despite discounts and perks that are offered by your competition.
Know your customer.
Many times the right products are shown to the wrong customers. Many businesses want to cast a wide net this can lead to a very generic and not so engaging content all across. You should be very sensitive and responsive to the behavior of customers and know where to find them. Applying the right funneling strategy on the right platform is the key if your business manages that properly half of the job is done. Lead generation should be shaped with what captivates the group you are targeting your product or service to.
Test your funnel.
A lot of businesses are unsatisfied with running ads for a month as they are not giving results. But the problem is that unless a complete funneling strategy is put in place before targeting the customer, the lead that is generated will be lost. Measure the effectiveness of each step in your funnel to identity bottlenecks.
Plan your budget appropriately.
On average the initial process of setting up a funnel typically costs five times more than once the funnel is optimized. Many companies get discouraged after early inflated costs of advertising and hence they can’t sufficiently invest in their strategy in the future. Limit the spread on platforms if you are a business on a low budget but it is important to have a complete funnel through one platform rather than incomplete ones from many.
Highlight your unique selling proposition (USP).
It is a buzz word used in digital marketing but it has great value. Differentiating your product from others in the market will give you an advantage. Also, highlighting these differences aptly in your campaigns and advertising is likely to spark interest in your potential customer. Find your USP and prove it to your prospects.
If you are seeing a reduced growth in your businesses it is likely that one of these 5 tactics will help you solve some of your existing problems. Give your strategy some time and the results are likely to come positive in the long run.