How to Find The Right Lead Generation Strategy That Fits Your Business

Saphyte Team

2 min read

Updated: August 18th, 2022

The right lead generation strategy may be hard to find, but here are some guidelines for you to consider when making one.

Customer acquisition is at the heart of a successful marketing strategy, but finding the right strategy that fits your business can be a challenge. A marketing strategy that works for one business may not necessarily work for another.

So here’s how you can build a strategy that matches your business needs to generate leads and grow your business.

How to Find the Right Lead Generation Strategy

Consider these processes when creating a lead generation strategy for your business:

Understand your brand

The first and most important part of any business strategy is understanding the brand and how it works. Branding is an essential part of any business. It speaks of what the business is about and how the customers perceive it.

Understanding your brand allows you to narrow down your strategy into what matters the most. It helps you select the right actions when generating leads.

Understand your competition

Scanning the market and knowing what your competitors are doing is also equally important as the first step. Here, you have to know what other brands are doing to know whether their strategy is working or not.

Understanding your competition helps you tweak your strategy to make it more responsive to customer needs and preferences. It also helps you identify what actions to take to give yourself an edge over the competition.

Understand your target market

The next important step to take is to understand your target customers. Identify their needs and preferences. Create a customer persona. And understand their behavior. This allows you to determine what content to send for relevance, and what channels to take to reach and engage more target customers.

Find the right channel to focus on

When taking your business to the next level (e.g. taking it online), you need to find the right channel to focus on. This is because the online market tends to be as diverse and unpredictable as the real world. This is why you should understand where to allocate all your focus and resources on.

Choosing a channel (e.g. social media platform or email) allows you to tweak your strategy and refine the workflows required in communicating and engaging with potential customers over the internet.

Measure results

After finalizing a lead generation strategy, it is extremely important for you to measure its results. This helps you understand what needs to be done, what needs to be changed, or what needs to be removed from the strategy. You can measure the following metrics:

Cost Per Acquisition (CPA)

Helps you understand your return on investment (ROI) on your lead generation efforts and determine which channels to invest more money in.

Customer Lifetime Value (CLTV)

Helps you understand the no. of purchases a customer makes in a year and the yearly profit margin average per customer. It’s also a useful metric when measuring the impact of efforts designed to establish customer loyalty.

Website Traffic

Here, you can measure the Click-Through Rate (CTR), Average session duration, and Bounce rate to understand the customer behavior when visiting your website.

Innovate and experiment.

Lead generation strategies should give room for innovation and experimentation. Set aside a budget to invest in channels that are not guaranteed to give returns. Or on marketing efforts that may not necessarily reach a wide audience. Doing these allows you to understand the market and your brand better. But more importantly, it allows you to be the first to discover ways to generate leads effectively.

Improve Your Lead Generation Strategy Now

Want to know how you can improve your lead generation efforts? Talk to our experts at Saphyte and get started here.