If you work in sales or marketing, you know that traditional lead generation strategies focus on lead quantity rather than quality. The ultimate goal is to secure as many leads as possible, which is why the priority is to attract a high volume of contacts during a lead generation campaign. But recently, this conventional view is changing.
You may be thinking that if you have more leads the chances of converting them into actual sales are higher, right? But the fact is that quality and quantity go hand in hand as a measure of a successful lead generation campaign. Volume is great, but if your sales team is wasting time chasing duplicate and cold/dead leads, it’s not benefiting you.
Lead Quality vs. Lead Quantity
According to a report by BrightTALK, a technology media company, lead quality is more important to marketers then the quantity of leads generated. The report states, “B2B marketers have demonstrated a clear preference for generating high-quality leads (68%) over generating a high volume of leads (55%).”
Successful marketers will tell you that improving the quality of leads is one of the most significant objectives of a lead generation strategy.
What is a quality lead?
A quality lead is a collection of pertinent information and activity from an interested customer with strong buying potential. Its information and data points are authentic. You should focus on building a list of potential customers, and make appropriate social media platforms a part of your strategy to nurture and keep these customers interested in your brand and product.
This way you build trust, and your potential customers trust your advice and content when they’re considering a purchase.
Your lead generation strategy should provide value to your potential leads to re-visit your site. You should make it easier for them to give you their details. If you check all these boxes, you’ll be more likely to generate quality leads that will most definitely become customers.
You lead generation numbers may be lower than if quantity was your priority, but your sales conversion rates will be high as a direct result of a more targeted and well thought-out strategy.
Improving ROI with quality leads
Targeted qualified leads result in a higher ROI. Prioritizing lead quality significantly increases your chances of converting leads to actual sales, paying off the resources that were spent to acquire the leads. It improves relationships with customers and creates loyalty. Over time, quality leads improve ROI.
More quality and quantity are metrics that are critical for a successful lead generation campaign. You need to achieve a balance, and analytics will help you do this.
There is always room for improvement when it comes to your lead generation strategy, so keep testing, implementing, assessing, and evolving your strategies to maximize the proficiency and ROI.