Lead generation and traffic generation are often used interchangeably, but they are two very different outcomes. Many digital marketing agencies claim to offer lead generation, when in fact, they are generating traffic – and they’re missing an opportunity to add real value to their clients.
Understanding the difference
“Any business with a budget can generate marketing traffic, and some of this will probably result in a few leads. However, merely increasing traffic does not guarantee increased leads,” says Grant Fleming, CEO of Leadify.
“To use an analogy, increasing traffic is like throwing data into the top of the funnel, whereas lead generation is about finding ways to make the funnel work more efficiently.”
Honing in on lead generation
More specifically, lead generation takes a considerably more targeted and strategic approach. It requires a deeper understanding of the business and the objectives of the campaign. It also requires knowing what factors result in conversions.
“Successful lead generation means digital marketers understand what they are selling,” says Fleming. “They understand the product, the market, the environment, and the customer – and they tailor their traffic efforts accordingly, to create viable leads.”
While this may sound like a lot of work, the payoff is well worth the effort, particularly given the fierce competition for retainer budget.
Imagine being able to show a client how you doubled their actual leads by using astute marketing? You’d be able to justify doubling your retainer budget.
Using the right tool
“If your client just wants to send out 10 000 email messages with a newsletter, then by all means, use Mailchimp,” says Fleming. “But if your client wants to measure the true performance of their campaign against the marketing cost, and optimise the campaign in real-time, then you’re going to need a tool with a bit more intelligence.”
Leadify is a lead generation platform that offers a number of features geared towards securing leads through email marketing campaigns.
The platform allows you to monitor and modify your campaign in real time to deliver the best results. It also offers built-in intelligence that eradicates time consuming administration, such as ensuring your database is clean and clear of duplicates when running multiple campaigns. By saving time on this, you’ll be able to put more effort into your lead generation strategy.
Getting ahead of the competition
50 percent of marketers rely on traffic generation to fill their funnel, and they’re happy with a 0.5% lead conversion rate from their already approved marketing budget.
However, if you used the right tools and incentivised your traffic generation staff based on improving the quality of leads in accordance with your underlying strategy, you would see double-digit growth in conversions.
“Focusing on leads is the best way to set your agency apart from everyone else, and you’ll be able to increase your retainer in line with the tangible value you’re adding to clients,” concludes Fleming.