Over 500,000 new businesses enter the market every month. Currently, there are 30.2 million small businesses that employ over 57 million workers in the US. All these businesses are proactively approaching the market to generate more and more revenues. Now imagine the intensity of market competition to acquire new business leads. We have entered an era where dozens of businesses are available to provide the required input in the global market. The point of concern is that most of these businesses are market-competitive as well.
It means that today, no business can continue operating without making significant efforts. Similarly, every entrepreneur is well aware of the revamping market dynamics to devise a business strategy accordingly. However, the COVID-19 pandemic has significantly changed the business environment. Now, as we stand in 2021, the world has greatly moved toward digitization. Traditional methods of generating business leads have nearly gone extinct.
In case you have been struggling to generate business leads in the evolved business world, you have come to the right place. This article discusses four strategies that can help you to upscale your business leads in 2021.
- Incorporate Search Engine Marketing (SEM) in Your Marketing Plans
Search engines generate 70% of new business leads worldwide. 75% audience first searches for a product or a service on a search engine. Then it is not surprising to read that only Google processes about 3.5 billion searches per day. Therefore, it becomes inevitable for your business to embrace search engine marketing. You must incorporate off page SEO, content and social media marketing, and other tools to get more visibility on search engines.
Search Engine Optimization (SEO) is the most important of SEM. It refers to optimizing your website’s content, structures, user experience, and speed to rank higher on a search engine. However, all these gimmicks are on-page SEO. Whereas, Off-page SEO means optimizing your website through external sources. It mainly includes link building, backlinks, guest content, forum posting, and local listings. Partnering with the appropriate external sources also enhances your website’s credibility and improves search engine visibility.
Once you have a ubiquitous online presence, you get exposure to a whopping 4.66 billion internet users worldwide. It becomes quite self-explanatory how it will generate more leads for your business. A larger market footprint enhances your chances to drive more leads.
- Study The Market And Design A Personalized Business Strategy
Modern-day customers in 2021 seek products that are accessible with maximum ease and suit well to their expectations. Increasing competition has introduced so many players into the market. These players have developed personalized offerings for the customer as a competitive edge. Gradually, the entire market has become more demanding. Now customers ask for a more significant variety with increased customization. According to Accenture, 91% of consumers reported that they prefer shopping with a brand that provides personalized recommendations.
Therefore, you must study the market very carefully. Try to identify your target audience based on demographics, product/service preferences, market orientation, and purchase trends. These insights will help you design your marketing, sales, and operational strategies accordingly.
When you approach the right market segment with the right offerings, you certainly uplift your business leads. You incentivize the customers to realize transactions. It primarily converts your prospective customers into current ones. Better customer profiles act as a self-catalyst to upscale more business leads.
- Have A Specialized Lead Generation Team
Yes, you read it right. You should have a specialized team wholly dedicated to just the purpose of generating leads. It will strengthen your sales pipelines. Lack of business leads creates a gap in the value chain. It hinders the progress for every other step of value production, mainly marketing and sales. When you have an entire team separately working on lead generation, you have ample market capital to drive business. Therefore, the entire process of marketing, sales, and customer relationship maintenance become seamless.
Moreover, having such teams is extremely necessary, especially for business-to-business (B2B) marketing. The process of generating leads is more technical and complex. It involves more stakeholders since you have to consider your customer’s customer as well. The chain gets extended.
Once you have allocated an entire team for leads, you can seamlessly manage your B2B network. It is mainly because B2B lead generation relies heavily on regular visits. Your sales and marketing personnel will not be able to take up extra responsibility for these weekly visits. Therefore, a separate dedication to this task can generate better results.
- Integrate Technology in Business Processes
Technological disruptions have cast their influence on every aspect of life. The business world has also witnessed these shifts. Tech startups like Uber have transformed the entire cab industry. New e-commerce platforms like Amazon and eBay have revamped the traditional marketplaces. Therefore, you must adopt the necessary tech advances to attract more customers to your business and generate more leads.
The incorporation of technology makes your business more receptive to external changes. Therefore, 44% of businesses globally plan to increase expenditure on technology. The major chunk of this expenditure falls on marketing up-gradation. It certainly adds a more competitive edge to generate more business leads in 2021. The widespread pandemic has also increased the importance of technological input in businesses. The technology helped our businesses stay connected across regions when the entire world was in lockdown.
Technology has enabled new channel development as well as existing channel expansion. These widths provide your business more capacity to upscale potential leads. However, your business must possess complementary tools.
The right strategy is not the one that ensures market entry or provides you a competitive edge. These two things might be the most important components of a strategy but are certainly not all of them. Business sustainability is the most important aspect of a strategy. You can never ensure business sustainability without a seamless supply of business leads in the fast-moving world in 2021. Therefore, you must weigh all the necessary factors that can influence lead generation for your business. Only then will you be able to adopt the most befitting strategy.