These five mistakes in lead generation with mature consumers are some of the most common among marketers. Each one costs marketers hundreds of potential leads and, consequently, thousands of dollars. Don’t get caught making one of these mistakes!
1. Brands don’t capture existing demand before they spend on lead generation.
The first mistake happens simply because marketers get lazy or are just wrong in their estimation of the market. Rather than digging into the natural, existing demand for their product or service, they are convinced that they must “generate demand,” so they turn to expensive brand-awareness advertising. While high-cost channels like TV, Out-of-House, and others can bring awareness, they’re usually addressing a perceived need that is rarely even a real issue for most businesses.
If you find yourself in this position, wake up! You may feel like you suffer from an awareness problem, but it’s more likely that you’re just not aware of the online leads that already exist for you to harvest. At any given time, there are customers who are intent on buying your product and service. Don’t spend money trying to convince customers of a need—dig hard to find those who are looking for the solution!
2. They put all their eggs in one basket.
Focusing on what works is great, but here’s the thing: the different demographics of your potential customers appear in different channels. You might see strong results from a lead generation partner or through a particular channel such as social media, but you don’t want to forget about other channels. When doing lead generation for the senior market, you need to be diverse and evaluate all of your sources.
Additionally, everyone has a different way of searching for a product or service. Being in many channels for lead generation allows you to sample and evaluate which channels offer the highest ROI. That way, you can make the decisions that will get you the best results.
This is especially relevant if you use lead generation partners. If you are purchasing leads from lead partners, you must think like a savvy buyer. When we use partners, we ensure that we get set CPL for a trial or a pilot, and we don’t just buy from one source, either. We might buy from a few sources, since the leads that partners provide are rarely exhaustive. Each source has their own way of sourcing leads, which could result in a higher ROI from one over the other. This approach allows you to stay on top of all the opportunities in the digital marketing landscape.
3. They don’t use the voice of customer to listen, reflect, and apply.
If you can understand your customers’ needs, then everything else is a cakewalk. That’s because your messaging in lead generation has a lot to do with the quality and context of the leads you earn. We are constantly listening to our lead calls, email conversations, and social content looking for the terms, phrases and descriptions that our customers use for the problems they are trying to solve.
Taking the language of your customers and putting it into your lead generation campaigns will allow you to connect at a higher rate with more impactful messaging. From PPC to telesales scripts, you can integrate customer phrases, terms, and sentiments to connect with your customers in deeper ways during the sales process. You’ll be addressing objections before they’re even mentioned, using your customers’ own language!
4. They don’t measure lead quality and conversion from all sources.
As we mentioned earlier, we run pilots with our lead partners before getting into annual contracts. We take the time to survey our leads further once we get them on the phone, and then we plot that data over time. Using our telesales department, we get deeper analysis on the leads, and get into real quality questions that can’t be determined by simple demographics. We make sure that we actually get the criteria we asked for from the lead partner.
The simple point is that you need to set up a process to make sure that you’re getting what you’re paying for. Have your telesales team sample the leads so you can get more information on the lead quality.
- How far are they in the sales process?
- How many people have contacted them already?
- Do they live in their own home?
These are all questions you might not get from the lead source, so you need to do your own homework.
Once you know what you are buying, you can use that to support your case with the lead generation partner. It allows you to negotiate cost per lead, or discontinue if the quality cannot be increased.
5. They don’t have a good lead management system for solid lead experience on the first call.
Using the buyer’s journey in the sales process has huge implications for seniors. We’ve found that having a solid lead management system that documents the prospect’s journey allows the sales team to really see what has been happening and create a stronger narrative during the call. Seniors are highly relational, and they want someone to understand the journey they are on. The interactions they’ve already had with your company are a part of that journey, so make sure that you’re aware of them. You can do this through a solid CRM and lead source integration, so you can see everything about the lead before you pick up the phone.
This is where having a strong telesales department can impact your sales. First touch can be made from a telesales agent to qualify the lead and make a great first impression. If you don’t have a department, you can always try ours!
But no matter what you do, don’t forget that the journey matters with seniors. Even though lead generation is a numbers game, these are seniors who need engagement. It’s a context that presents both a unique challenge and a big reward for those who can master it.