Lead Generation 101 - Growing Your Email List
August 2, 2018
What is a Lead?
A lead is primarily defined as a person or individual who has demonstrated some level of interest in your product, service or company. Leads are important for identifying potential future customers, and for this reason generating and keeping track of your leads is critical to maintain steady traffic and positive revenues.
Why is Identifying Leads Critical?
Identifying leads is important as it helps to create a shortlist of potential customers. Companies can then target this group with additional marketing activities and promotions. The targeted group, or leads, are more likely to be receptive to these activities due to their previously indicated interest in the service or product provided by the company.
So, What is Lead Generation?
Lead generation occurs through the attraction and conversion of ‘strangers’ into potential customers or leads. Lead generation in plain terms, relates to methods of attracting people to your site or company. By attracting these strangers, you encourage them to warm up to you and hopefully your marketing and promotional techniques. Allowing strangers to warm up to your brand can help stimulate genuine interest in your company and therefore pave the way for future communications and marketing opportunities.
Why is Lead Generation Necessary?
Generating these leads is crucial to the success of your marketing and promotional activities. Developing natural interest in your business alters the traditional relationship of businesses attempting to interact with their clients, to clients attempting to interact with the business. This change in the relationship between the business and the client creates a more profitable environment for the business and a more rewarding experience/environment for the consumer.
The Cost of Leads
There are three main pricing methods for leads: Cost per Thousand (or CPM), Cost per Click (CPC), and Cost per Action (CPA). CPM marketing denotes the price an advertiser must pay per 1000 impressions on a single webpage. CPC is rather intuitive, denoting the price an advertiser must pay per click on their advertisement. CPM and CPC are both forms of CPA, denoting the price an advertiser must pay for each completed ‘action’, whether this action is clicking on a link or achieving a certain level of impressions. Generating and collecting leads can be hard, not to mention expensive. Some companies will prevent you from accessing the leads you’ve collected until you pay a premium. At DeepMarkit, our goal is to see you succeed! Sign up or install our free app on your favourite e-commerce platform today!