Without customers, a business will not thrive. Business owners need to continually ensure that they maintain customers and develop a means to attract new clients. One method for a business to cultivate a flow of potential customers is working with lead generation companies.
Four ways that lead generation companies make money include utilizing: search engine optimization, content marketing, social media, and emailing in their search for new customer leads.
The quality and quantity of the leads derived by different strategies provides income for lead generation companies. Firms that locate potential and actual customers are paid a fee for these results. Continue reading information on lead generation companies and ways they make money.
Role of Lead Generation Companies
Producing leads or potential customers for a business is the purpose of a lead generation company. A business owner, who needs assistance in developing a compilation of potential customers, contacts a lead generation firm. All types of businesses, for profit/not for profit, large or small, might seek assistance in ways to build their business and customer base.
Doctors, financial firms, roofers, and others provide the lead generation company with information about their target customers. The lead generation company’s role is to find potential clients within the specified demographics. Criteria for a B2C, business to consumer, could include age ranges, income levels, geographic locations, homeowners or renters, and other factors. Expectations for a B2B, business to business, might include the size of the company, location, type of business, fair trade, and other attributes.
How the payment to the lead generation company is determined can vary. Often in a B2B agreement, the client agrees to pay the lead generation firm for each lead provided or a cost per lead model. Other contracts will stipulate that the new client must make a purchase before the lead generation company is paid. Lead generation companies sometimes offer a contract in which they are paid for every appointment they make for their client.
B2C payments can be based on the number of actions a potential customer makes. Before work commences, the two parties agree on what constitutes an action by a customer or potential customer. Actions might include providing an email address, making a purchase, signing up as a customer during checkout, and other needs important to the business.
- Search Engine Optimization
One way a lead generation company makes money is assisting their clients in effective search engine optimization or SEO. When most people are looking for a service or product, they search the internet. For these searches to find your client, their website needs to have effectively woven and searchable keywords throughout their webpages.
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- Keywords
The words used by searchers to find the product or service they are seeking are called keywords. As a lead generation company, you need to determine which words most people will enter when they look for the product or service that your client sells. Once you have the list of keywords, you need to update your client’s webpage. Throughout their website, the effective keywords must be included.
If your client relies on local customers, you need to add an emphasis on keywords related to location.
- Long-tail Keywords
Similar to keywords, long-tail keywords are phrases of at least three words used by people seeking products and services. Phrases will narrow in the search results and can change the order of webpage results. For your clients, adding long-tail keywords to their webpages will reduce the number of competitors that show in the results. This means that your client’s webpage will receive a higher ranking.
- Website Design
Website design has a number of variables. Improving the navigability of your client’s page will result in a higher rating by search engines. Higher ratings mean a better position on the search engine results page or SERP. For your client, this equates to more potential customers accessing their webpage.
When assisting your client, check their website for easy navigation, speed, and bounce rate. More and more people are using their phones to search on the internet. Potential customers should have the same positive experience on a laptop and mobile device.
- Content Marketing
Another method to generate more leads for clients and for you to make more money is through content marketing. Your client can build a following by sharing pertinent content or information about their products or services. From their new and increasing audience, your client can garner new customers, which is how you will continue to make money as a lead generation company.
There are a few ways to share content; use those that will work best for your clients. However, before commencing with content marketing, discuss its purpose with your client. Developing measurable objectives, baseline data, and a means to gather data on objectives is a key step in successful content marketing. A call to action or CTA should be included, so leads can be pursued.
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- Blogging
Collaborating with your client to write blogs is a highly effective category of content marketing. Websites with regularly updated blogs will positively impact your client’s SEO and SERP. Additionally, potential customers stay on a website longer when reading blogs. This boosts your client’s SEO, and when done well, can translate into sales.
Blogs provide a vehicle for your client to demonstrate their vast knowledge and experience. Assist your client in developing a list of meaningful topics for the blog. Anticipate concerns or problems of your client’s customers and potential customers. In the blogs, your client will address any issues by providing a solution.
- Guest Posts
Find other websites on which your client can post as a guest. Look for complementary businesses or services. Writing posts on other websites and having guests write on your client’s blog is a great way to generate more traffic. Additionally, link building adds to your points in search engines’ algorithms, which means a better position on the SERP.
As the lead generation company, you can make more money from the referral traffic. You might be able to add a new client as well!
- Newsletters
Another way to develop leads for your client is sending newsletters. Repurposed blog posts can be utilized in a newsletter if the material is reaching a new group of potential customers for your client. The format of the newsletter should complement your client’s website. Do not overwhelm readers with too much content. Four to five articles of different lengths should be your target, which the reader can skim and easily capture the gist of the content.
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- Social Media
Finding leads for your client on social media is another avenue to pursue. Many people are on one or many of the available social media platforms. As the lead generation company, it is important for you to determine which platform is best to target your efforts. How you format your client’s brand and generate interest will vary depending upon the stage and audience.
Brand visibility and image are important concepts to share through social media. Once you have piqued potential customers’ curiosity, you need to cultivate an online relationship. As part of your call to action, be sure to provide easy links to websites or to sign up for newsletters. Other incentives will encourage more potential customers to take the next step with your client.
Emails can be a powerful tool for ‘cold calling.’ A vast audience can be reached with one email. Before sending the email, as with content marketing, you and your client need to set goals. Determine how you are going to measure the effectiveness of your email campaign. Elements such as number of emails opened, how many readers clicked on links, and the number of replies, should be calculated. From these results, fine-tuning of future emails should occur.
Professionally written emails that quickly capture the reader’s attention are needed.
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Frequently Asked Questions
What is a marketing qualified lead?
A marketing qualified lead or MQL is a prospective customer or client. By actions such as accessing webpages, downloading information, or clicking a call to action or CTA, this person has shown an interest in your product or company.
What are sales accepted leads?
A sales accepted lead is one that has been assessed by marketing. In their evaluation, marketing believes that this lead merits further attention from the sales team.
What is a sales qualified lead?
A sales qualified lead or SQL has been checked by marketing and an initial review by sales. These appraisals have determined that there is an opportunity for a sale with this lead because the person has shown a strong interest in the product or service being offered.
What is an unqualified lead?
An unqualified lead is someone who may eventually want your product, but they currently are not ready to decide or cannot afford it.
What are sales recycled leads?
A sales recycled lead or SRL is someone who was perceived to be a potential lead, but they were not ready to complete a purchase at this time. These leads are sent back or recycled to marketing for future vetting.
To learn more on how to plan your own lead generation business click here!
Please note that the contents of this blog are for informational and entertainment purposes only and should not be construed as legal advice. Any action taken based on the information provided in this blog is solely at your own risk. Additionally, all images used in this blog are generated under the CC0 license of Creative Commons, which means they are free to use for any purpose without attribution.
About the author. A lifetime of Entrepreneurship.
Hi! My name is Shawn and I am a happy individual who happens to be an entrepreneur. I have owned several types of businesses in my life from a coffee shop (link here http://archives.starbulletin.com/2003/05/18/business/index.html) to an import and export business to an online review business plus a few more and now I create online resources for those interested in starting new ventures. It’s demanding work but I love it. I do it for those passionate about their business and their goals. That’s why when I meet new business owner, I see myself. I know how hard the struggle is to obtain and retain clients, finding good employees and making sure everything works together all while trying to stay competitive.