“Lead generation can be identified as the fuel that keeps the revenue flowing for a business, and it does so by creating a profitable relationship with the customers.”
In simple words, lead generation refers to identifying and targeting prospective buyers for your business. Lead generation is a fundamental and continuous activity for all forms of interaction. Companies are continuously trying to identify new prospects for their business and direct their marketing efforts toward those prospects to transform them into business advocates.
However, when marketing activities are majorly taken over by digital marketing, we can now generate quality leads without going through all these unsophisticated techniques. Digital marketing allows us to use multiple channels and sophisticated styles to target potential buyers for our businesses. But how do these lead generation techniques work?
Let’s have a look at how lead generation techniques aim to work in the online marketing environment,
Strangers: Company tries to increase product awareness using specific keywords, exciting content, and blogs.
Visitors: In this stage, the company tries to make a call for action and convert visitors into leads.
Customers: A successful call to action will convert leads into customers.
Promoters: Continuous follow-up converts customers into champions or supporters, or advocates of the brand.
It is essential to remember that not every lead is a valuable lead that converts into a customer or a promoter. The conversion rate of your tips into buyers will allow you to evaluate the quality of the information being generated.
This is where the “BANT” model of lead generation comes in. The BANT model is used and loved by sales teams around the globe because it allows you to grade your leads in terms of 4 attributes. The acronym BANT represents-
BANT is an effective way of grading the quality of your leads. Understanding the quality of your tips will help you convert leads into buyers and finally into loyal customers of your brand.
Think about how much time and resources you give while pursuing a lead to convert into making a buyer. This makes it extremely important to grade your information to understand its quality.
Now let’s see how the BANT model evaluates a lead on its,
Budget: Does the information have the budget to make a purchase?
Authority: Does the lead have the authority to make the purchase decision?
Need: Does he need the product?
Timing: When does he need the product?
Find out these four things about your leads, and it will enable you to find out the quality leads you were always searching for.