What is Lead Generation?
“Sales cures all.”
That’s a popular quote from billionaire and Shark Tank star Mark Cuban. The more sales you have, the more stable your business, consultancy, or program. You can invest, deal with cash flow issues, and hire more talent for growth.
For sales to work, you need a steady stream of interested persons in your product or ready to buy.
That’s where lead generation comes in.
Lead generation is a holistic strategy to attract, engage, and eventually convert curious persons into customers. If someone has an interest in your brand or product, they are a lead. Some you will convert into customers, some you won’t. But the more persons you attract, the better. The best businesses keep leads flowing like water in a faucet. If that dries up, so does the business’ success.
Lead generation is not for the faint of heart. And there are as many opportunities to make lead generation mistakes as there are opportunities to grow with it.
Is LinkedIn great for Lead Generation?
There are numerous ways to generate leads. From a B2B standpoint, Linkedin is standing head and shoulders above most methods.
So in a simple word: yes!
Linkedin has made lead generation a critical part of their business model.
With the creation of LinkedIn Sales Navigator and integration tools, you can manage your entire lead generation campaign within LinkedIn. The more you connect with people, share content, and give value, the more persons would be interested in you and your product.
According to LinkedIn, 65% of businesses have successful lead generation campaigns on the platform. That means if you’re not on LinkedIn, you’re leaving money on the table.
How should I generate leads on LinkedIn?
With over 600 million Linkedin users, there is ample opportunity for you to find your ideal customers. Linkedin is a virtual networking platform, and you have the opportunity to place your product or service in front of people. At the base level, you can do the following:
- Make meaningful connections with persons who engage with your brand.
- Post daily updates to stay top of mind. Use all of LinkedIn’s methods, including articles, videos, and even Linkedin Live!
- Provide immense value in your content.
- Expand your network.
- Have clear steps for people to connect with you to learn about your offer.
- Use LinkedIn messaging effectively.
These steps can give you a steady stream of interested prospects that you can eventually convert into subscribers in your sales funnel, clients, or sales.
Don’t make these mistakes.
Some lead generation strategies can fall flat or fail. Why? Business owners and marketers forget the fundamentals needed for success. These 5 linkedin lead generation mistakes can cost your company thousands of dollars in missed opportunities.
1. No clear call to action.
Creating content on LinkedIn must be part of your lead generation strategy. However, you can’t create content in a vacuum. The content should lead to a Call To Action or CTA. Your CTA is the next step you want the reader to take. If the right reader connects with your content, they would be more inclined to take action. If you don’t say what you want them to do, you’ll lose that small window. Let them know how to get in contact with you, become a new connection, join your list, or make a purchase.
2. Failing to nurture leads.
So you get a new connection on LinkedIn. What’s next? You can’t stop there. Many business owners drop the ball by failing to nurture their new leads. Start by connecting with them in LinkedIn messenger and seeing how you can help in some way. Share content when you can. Some potential leads need several touchpoints before making a sale. If you don’t converse and connect, you’ll have a connection when you really want a customer.
3. You're not maximizing all of LinkedIn’s tools.
Lead generation is an ongoing process. So it’s best to invest in the right tools to make it happen. LinkedIn allows you to connect with a vast network of your ideal customers, but only to a point. On the basic account, you have limited visibility on who viewed your profile, search data, and the number of people you can send messages to every day. For starters, an investment in LinkedIn Premium pays itself if this is your primary lead generation channel. Other tools include Sales Navigator, which can help you connect with even more prospects, categorize, and manage each lead. Don’t be afraid to invest in your pipeline.
4. Not aligned with your Sales team.
If you have a salesperson or sales team, you must be aligned with them in terms of your LinkedIn strategy. That means they should know how to prospect on Linkedin. Creating content should also be a part of their strategy. Everyone should be using LinkedIn the same way to keep leads coming.
5. Not making up-front value part of your strategy.
Great lead generation strategies can develop “hot leads.” These are people who are ready to buy and little convincing. How can you get more hot leads? By providing immense value upfront. Most persons try to sell without giving something first. People love to buy but hate to be sold.
A typical example is those persons who connect with you on LinkedIn and immediately send you a LinkedIn Message trying to sell you something. Nobody likes that.
Yes, you should have Call To Actions in your content. However, your content should have that much value, and your potential prospect would feel like they owe you. Don’t worry about giving out your best stuff. It will come back tenfold. As part of your lead generation strategy, make sure to incorporate tips, tricks, case studies, and how-tos.
Ready to get more leads?
Without a steady supply of leads, your company can go through cycles of feast and famine. LinkedIn has a built-in audience, so you must find a way to provide them with value and be visible. By connecting with people, your network grows, and so does the opportunity to work with them, sell them products and services, and keep your business afloat.
LinkedIn has immense potential and has provided my business with leads that I could turn into customers. If you want to learn more about LinkedIn, let’s connect. I have tons of resources, including courses that can help you maximize Linkedin. In terms of lead generation, my team also helps businesses generate leads by managing their lead generation process. If you need lead generation support, I’ll be happy to help. Don’t let a lack of leads make you close up shop!
