e commerce business
Lead generation is a key development challenge for many organizations. Marketers here play an important role and are considered liable for driving development. It is evasive for many companies, which is the reason why lead-generating growth is the top concern for CEOs.
As indicated by Forrester, “The average data-driven businesses are developing more than 30% year-over-year, and before 2022, the organizations will take $1.8 trillion annually.
In the fierce competition of the modern marketing era, if you want to flourish, you have to be smart. To distinguish yourself from others, you need to identify and keep a tab on the lead generation metrics and KPIs that are pertinent to your goals.
The metrics and key performance indicators (KPIs) play an important role as they provide a 360-degree view into the customer journey. The facts and figures from metrics offer a deeper and more comprehensive understanding of the real performance of your marketing and sales endeavors. Evaluating them from time to time assists you with utilizing information and experience to develop your business.
How to know which Right Lead Generation Metrics and KPIs would help your business?
The one size fits all rule cannot be applied to the KPIs, as every business has its own defined set of goals, target customers, and processes. Subsequently, the customer acquisition and lead generation approach also differ. Henceforth, it is mandated for you to consider your business objectives to sort out the right metrics for your organization.
The paramount viewpoints to recognize the lead generation KPIs and metrics are as follows:
Target audience helps you to know whether you are selling to a small business or a large company. You need to answer these three questions to select the lead generation KPIs and metrics, they are:
- What is the target audience (customer profile) of your goods and service?
- Which industry domain do you belong to?
- Which are the right channels to engage with your audience (potential customers)?
B2B or B2C business
Primarily, the marketing lead generation strategy is based on whether you are dealing with B2B business or B2C. Secondly, the lead generation channels depend enormously upon the type of business you are in. Accordingly, you can decide on the metrics and KPIs that will assist you in expanding your customer base.
Your product and service valuing (price) will help to get insights on how much investment you need to put in to get new leads. Estimation and Pricing play a significant role in choosing the right lead generation channels that help in recognizing the metrics for your business.
How to decide on your ideal e-commerce lead?
Each business is unique, which is the reason why lead generation strategies differ. Your definition of a perfect e-commerce lead, for example, will probably differ you from your competitors. What’s important is how you set your products and services best from others and that leads you to your dream lead.
Proven 7 e-commerce lead generation strategies
Are you curious to know about how to generate leads for your e-commerce website? You should try these seven proven e-commerce lead generation strategies:
1. Search engine optimization (SEO)
Considering your audience or potential customers shop for the products they want online, where must they be searching first? Yes, they begin by searching for the products they want on search engines like Google.
With an SEO strategy, you improve your website. It helps your pages to rank in the first results of the searches. This makes it easy for your potential customers to track you and permits you to focus your marketing budget on the buyers who actively look for your products. You can run a re-marketing strategy to catch the eyes of your buyers and finally close your lead into a conversion.
2. Pay-per-click (PPC)
Even though SEO is the best long-term strategy for e-commerce lead generation, running pay-per-click (PPC) campaigns on various platforms like Google Ads is a productive way to reach searchers/buyers while you establish SEO rankings. PPC is additionally helpful for competitive keywords that have clear purchase goals but are dominated by your competitors.
At the time of campaign creation, you can figure out where you want to display your ads based on the keywords users search. If you sell sports shoes, for example, you could display an ad in the search results for “men’s sports running shoes.”
Then, at that point, you set a bid given the amount you’re willing to pay for each click to your website, and you pay that sum when your advertisement is clicked.
3. Content marketing strategy
Large numbers of the present buyers research the items they want before purchasing. They need to know which items are the most ideal choices for their requirements, which offer the best value for their cash, and which are the most famous with distinct features.
You can provide all of these insights to your audience as part of your content marketing strategy. Publishing blog posts, articles, and other content help your customers to make prompt buying choices.
The theme/content/topic you pick relies upon your industry and items; the content can go from purchasing guides about specific items to blog posts on the trends to articles with supportive tips. Whenever you give data that your potential leads need, you can assist them with purchasing choices – and establish a trustworthy reputation as a supportive resource.
4. Social media
Social media is a significant advertising tool, and that’s particularly true for B2C e-commerce organizations. It’s the perfect channel for engaging with your audience and showing your brand’s image.
Some platforms offer additional effective advertising and promotional options. On Facebook, for example, you can run designed ads to direct traffic to a particular page on your site and utilize their highly-specific targeting options to reach the exact audience.
These options vary from essential segments like basic demographic information like gender, age, and location to more advanced options like education, interests, career, and their past actions on Facebook. When you use these targeting strategies, your ads bring the exact crowd you need to your site.
5. Email marketing
As discussed above, the possibilities are not your entire site visitors will be convinced to buy on their first visit. Yet a significant number of potential buyers may provide their email addresses in exchange for a discount or some other rebate.
Using email marketing is the best way to stay in connection with these e-commerce leads and get them back to your website. You can notify your subscribers about new trendy products, share discounts or personalized coupon codes, and any other information they might find amazing.
You may also use automated system software to send specific messages to your subscribers based on the actions they take on your website. If a customer adds a product to their cart but leaves without purchasing it, for example, you can send them an email with a link to return and complete the transaction by creating a FOMO message.
Watching and reading the same messages and creatives will make you bored, right? Similarly, your customers will always want a new and interesting way to persuade them to their purchase. You will have to pull up your socks for each marketing message. With personalized marketing, you can create your ads and be as genuine as possible to various customers.
Assuming a guest has recently visited a particular product page, for instance, you can show offers connected with that item when they land on your website. The simpler you make the process for your users to observe what they need, the more chances they’ll make a purchase.
7. Conversion rate optimization (CRO)
At the point when a guest shows up on your site, you want them to convert in some way. That might mean making a purchase, signing up for an email newsletter, or another activity that moves them through your sales funnel.
Conversion rate optimization, or CRO, is the process of testing elements on your site to see which are the most relevant and productive in getting your guest visitors to convert. You can analyze everything from the presentation pattern of your product pages to the call-to-action buttons you use. The information collected can be used to improve your site for the most potential conversions.
Bravo! Now that you know how to drive leads for your e-commerce website, are you ready to get started? Great!
Lead generation tools save time and effort.
A lead generation is an approach to getting your potential buyers on the way toward buying your product or service.
Automated lead generation makes it conceivable to get lead lists in a few minutes. It saves time and assists you in searching for new business opportunities.
Using a lead generation solution, the salespeople can focus on building good relationships with potential buyers and lead conversion instead of spending hours attempting to identify the relevant prospects or tracking down their contact information.
The main benefit of lead generation is that the data helps sales representatives to be more flexible and creative with strategies.
Lead generation techniques search freely accessible information from different sources, for instance, business information platforms, websites for web traffic and data analytics, and more. Using AI and machine learning extracts details that are regularly validated and updated.
Each Business Has Its Own Set of Lead Generation Metrics and KPIs
Let it be a B2B business or B2C, traditional or online business model; your lead generation metrics and KPIs will differ. Here comes the challenge for you to plan a strategy to understand who your customers are, and identify the sources to engage and interact with them for lead generation.
The subsequent step should be to have the right analytics tools to track the KPIs. Various lead generation software and techniques offer a range of advanced customer support software that can assist you in transforming the way you offer help.
Simultaneously, you also need to realize that tracking all the lead generation metrics and KPIs is paramount, or else the marketing efforts will go in vain. Tracking the performance will lead to the best results for your business.
So, this was all about the lead generation for eCommerce stores. To learn more about the eCommerce industry, visit Zap Inventory and get access to learn more about the industry.