What is Lead Generation and How Does it Work? | Actin Web ...

One of the great things about the Internet is that it is a wonderful business tool. In terms of growing your business there is very little to match the power of the Internet for leads generation. It is a term tossed around a lot, but what exactly is it? The standard definition given is ?Lead generation is a marketing term used, often in Internet marketing, to describe the generation of consumer interest or inquiry into products or services of a business? but this does not explain the process very well nor tell businesses how to tap into it. A closer look at how leads generation happen and what use they have is a must for success in any business.

The methods used in lead generation are varied and include tracking visits to webpages, organic search engine results, demographic stats, cold calls, list purchases, referrals, telemarketing and advertisements. Generally the quality of the lead is determined by the likelihood of it generating a sale in the hands of a skilled salesperson. Leads generation can be used for other means also, like construction of personal business lists, sending e-mails and other information through the Internet to promote a new product or service, expanding reward programs, or increasing traffic to websites and other online service providers. The main goal however remains winning and increasing the loyalty of customers.

When looking at the lead generation market businesses need to select the type of lead they are interested in working with. There are two main types of leads: Sales and Marketing.

Each type of lead tends to work best for specific businesses or services. If you are working in leads generation you will want to angle your services along the same routes. Sales leads are based mostly in demographic stats culled from FICO scores, income, age, HHI, and other similar sources. They can be resold many times and typically are used by banking and insurance services. Marketing leads are usually culled through advertisements or other means to be brand specific. As such leads of this type are only sold one time.

Online leads generation for sales leads are commonly sold in either price per thousand, price per click, or price per action methods. These typically take the form of banner ads or direct response advertising. Each method has bonuses and drawbacks, with the price per action being perhaps the method generating the highest quality leads. Because they have higher success rates businesses pay more for them. Price per thousand means paying per post, even if the ad is blocked so that the target audience does not see it. Price per click is prone to fraud and bots that typically increases profit for the provider at the expense of the business buying the ads.

Not all leads generation need be expensive. There are several free ways to use the Internet for lead generation. Among these that should be noted are search engine optimization which increases organic leads from Internet users searching for specific products or services, viral videos, images, info graphics, and Internet memes, social network promotions, forums, and article archives. All these forms of lead generation cost nothing but time to turn a profit and raise customer awareness of new products and services. These paid methods work hand in hand to raise consumer loyalty to a brand.

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Source: http://www.actinweb.com/what-is-lead-generation-and-how-does-it-work/

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