Before you ever plan a lead generation campaign, it is very important that you really take the time to define your goal clearly. Aside from identifying what type of results you require (in terms of the qualified leads and ultimate sales yielded), you must not take for granted to define the following:
The audience you are targeting.
The phase in the buying cycle you want to target.
This is because the kind of offer—or the ‘call to action’ you apply in a lead generation campaign and the audience you make that offer to—will measure the quality and quantity of your responses.
And here are some valuable tips to remember next time you are planning a campaign.
1) The harder the offer, the lower the response rate. But the later the phase in the buying process your questioners/inquirers would be.
A ‘hard‘ offer is one which bears with it a higher degree of risk from the standpoint of the inquirer. Normally, it would entail a bigger level of commitment, and it would more often include some contact with sales. Examples of hard offer on average include:
• Online demo
• Situation audit
These offers have a tendency to produce a lower response rate, yet the quality of response is oftentimes higher in regards to where the respondents are in their buying cycles.
So when to use hard offer? Hard offers are best utilized when you, for the most part, want inquiries which are further along their buying cycle. They would be easier and simpler to handle because you will have fewer of them to contact. The solution for success, as with any lead generation campaign, is to nurture these leads (handle them with care), and follow them up as fast as you can, and deliver highly qualified leads to the sales team right away.
2) The softer your offer, the response rate will be higher. But the earlier the phase/stage in the buying process your inquirers would be.
A ‘soft‘ offer is one which bears to be a low risk in the inquirers’ eyes and a moderately high perceived value. So, they have a propensity to yield a higher response rate. But because these offers necessitate very slight commitment on the side of the inquirer, the quality of response is normally lower than when you do make a ‘hard’ offer.
Examples of soft offers include:
• Solutions Guide
• E-newsletter subscription
• ROI calculator and toolkit
So, when to make use of this soft offer? This is the appropriate tactic especially when you have to generate activity, but then, do not mind the reality that most of the questions would be at an early phase in their buying cycle. Yes, it will need some major work on the part of your telesales, marketing or inside sales team, since they would be tasked with calling inquiries in order to find qualified leads.
3) Also, consider your target audience. Prior to planning a lead generation campaign, be sure to define clearly the phase in the buying cycle you wish to target, and also the proper audience. Then you can choose offers which match up to that buying stage and are also appealing and the perfect fit for a particular audience.