The Best Guide To Lead Sources

The channel through which a lead finds a business is known as the lead source. It is the first point of contact between the lead and the business. It is important for businesses to know where the leads are coming from. It determines the strategy that will be used by the business to engage with the prospects. 

 

A lead can find a business through a search engine (organic search), referrals, social media, paid advertisements etc. Businesses often use lead management software for business to track the progress of these leads through the sales funnel. 

 

Importance Of Lead Source 

 

Knowing the lead source allows the business to tailor communication with the customer accordingly. Let's take an example of this:

 

Business A is running a paid campaign for Christmas decorations on Instagram. Customers located in the UK will receive 50% off on their first purchase when they use the promo code. 

A lead contacts Business A through social media and asks for more information. This way, your sales/ marketing team will know that the customer is located in the UK and is interested in your products. Given that Christmas time is drawing closer, the sales team can converse with the lead and even try to cross-sell other products/ services that are provided.

 

 

It is important to note that not every lead is ready to make a purchase. It was discovered that 80% of the leads require nurturing before they choose to buy a product. 

 

The Significance of Lead Source in Lead Generation 

 

By practising lead source attribution, businesses can generate high-quality leads that have a higher intent of purchasing. Lead source attribution tracks the channel that was used to generate a particular lead. It gives you a clearer picture of which channels are bringing the lead sources. With this data, individuals will be able to target these sources and focus their marketing efforts. 

 

What Are The Most Popular Lead Sources?

 

• Organic Search: The leads who find a business through the search engine can be classified as organic search. The click-through rate from the search engine page results or SERP gives a business a picture of the organic traffic. With a structured SEO strategy and valuable content, businesses can garner more leads. 

To drive traffic through SERP, businesses can rely on Pay-per-click advertising or PPC advertising. It is a powerful lead source in many cases. 

 

• Listing websites: SEO strategies also include adding your listings on review websites. Listings them on these websites can drive traffic and the business can capture more potential customers. 

 

• Cold calling: If a lead is directly contacting the business about their product/ services, they are easier to move through the sales funnel. Lead management software companies like Optimiser allows business to sort their leads based on different filters and assign tags so that these leads are easy to find on the platform. 

 

• Email marketing: There are 4 billion daily users of email. Safe to say, email marketing is one of marketers' favourite means of capturing new leads.

 

• Traditional advertising: This includes radio, television, and billboards. These are still relevant even in the age of technology. However, they are not sought after by many companies as they tend to be very expensive. 

 

• Events: Attending networking events is a great way to build connections with fellow business owners and spot some leads. 

 

• Referrals: Happy customers are always willing to provide referrals. Before social media became a big thing, companies relied on word of mouth to bring new leads to the business. And they still do, as these happy customers act as brand advocates on social media and drive the sales for the business. 

Social media: Anyone with an internet connection can find out about your company. Social media is a powerful means to spread the brand message and allows people to connect with the brand's personality. It can be used to promote products, offer discounts, propose giveaways etc.

 

Also Read: 7 tips to effectively manage your leads using Optimiser

 

Optimiser CRM's Lead Management Software

Optimiser's B2B lead management software boosts sales and increases the productivity of the organisation. Creating an alignment between sales and marketing teams, the platform breaks down information silos. It promotes an environment full of trust and collaboration. Offering a holistic approach while communicating with a lead, businesses can rely on data to guide them. With a single streamlined process, a high volume of leads can be managed easily. Parts of the sales pipeline can be automated to ensure that the leads are being nurtured to the fullest. 

Businesses can convert leads into devoted customers with Optimiser's lead management solution. Leaks in the customer journey can be identified and patched. 

Not only that, sales managers can keep track of the team's tasks and progress to stay ahead of project deadlines. They do not have to worry about false leads as the platform will sort the leads with a higher buying intent using the AI-backed predictive leads scoring system. 

 

Summary

When a business knows its most effective lead source, it can use the data gathered to target the channel and bring in more capital. Leads through the marketing channel will be provided with an exceptional experience that will create long-term brand advocates who will help your business brand in return.