Tuesday, May 8, 2012

What are the most effective lead generation programs?

In a recent meeting of our Virtual Peer Group we discussed the effectiveness of a broad spectrum of lead generation programs including:
  • Webinars & ground seminars 
  • Outbound telemarketing 
  • Event marketing (exhibits, conferences) 
  • Email marketing (news letters, promotional offers) 
  • Internet Marketing (SEO, PPC, Banner ads, etc.) 
  • Social Media Marketing 
  • Referral Programs 
We compared and contrasted the pros and cons for each type of lead gen program and talked about the value of combining them into an integrated marketing program. We also talked about the importance of basing your lead gen program on compelling content that includes your well-defined value proposition and how well it is tailored to your the business issues that are most important to your target market. 

Your value proposition must be (a) differentiated, (b) address the top problems/concerns of your target customer set, (c) articulate cloud solutions that address those problems, and (d) demonstrate the business value that you deliver to your customers. Then we talked about the importance of the “call-to-action” as a key ingredient that will convert the interest created by your compelling content into action taken by your prospects.

We concluded the session with a discussion of metrics that measure lead gen effectiveness with a focus on conversion rates and their role in setting targets for lead gen volume, their impact on pipeline activity and revenue value as well as their impact on the cost per lead and the cost of customer acquisition. There is a lead gen effectiveness measurement template in the CSP Program’s Performance Management Blueprint.

Here are some questions to consider for your own lead gen initiatives:

1. Which lead gen programs have been most effective for you?
2. What are their response rates? Qualification rates? Average cost per lead?
3. What percentage of your leads covert to your sales opportunity pipeline?
4. Do you have a well-defined value proposition that meets the above criteria? 
5. Do your lead gen programs articulate that value proposition? What is your call-to-action?


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