As we enter a new and unknown world we must expect drastic changes to the way we operate, both now and moving forwards. For many, the concerns of the performance marketing industry may seem trivial in comparison to a few weeks ago, but in this time of uncertainty we can at least project optimism when looking towards a largely unknown future. In this article let’s look briefly at some of the key ways in which B2C Marketing will likely change and evolve as a result of Covid-19.
Lead Generation Will Lead The Way
The fact is, we are likely staring at the third global recession of the 21st Century. One thing we can learn from previous recessions, particularly the two most recent and relevant to us now (Global Financial Crisis 07-08, Dotcom Bubble Burst Into Early 2000s), is that Lead Generation tended to conversely rise within these times. More than an outlier, this was a consistent pattern within both of the previous two recessions, which can be explained by the omnipresent truths of a recession: companies need to make more money as quickly as possible and they need to spend as little as possible when doing so. In the past, this meant marketing budgets were stripped bare, with remaining resources directed to the most efficient channel of spending: Lead Generation.
During times of uncertainty there is one thing of which we can always be certain: companies will aim to massively reduce wastage. Luxuries like Brand Building, multi-channel diversification and new projects will be sidelined for guaranteed ROI. This is exactly why effective lead generation will be so important in the next few years, in line with the global market’s recovery from COVID-19. Through proper lead generation Brands and Performance Marketers can eradicate many of the risks and unknowns in spray and pray marketing and revert to the generation of hyper qualified leads that massively increases their ROI.
To maximise the success of your lead generation, either as a brand or a lead generator distributing the leads on, the following areas will be key to your overall success:
Choose Quality Over Quantity
For both brands and lead generators, this mindset will be essential. In a world where ROI will be the ultimate metric, generating hyper qualified leads will be the best way to increase the value of what you do. Sure, some may adopt a short term approach of high volume and low quality leads, but this will always result in diminishing returns. In this new world, high quality and high converting leads will be worth their weight in gold: if you can generate the best leads then your personal value will be through the roof to all companies looking to bounce back after the recession.
Validate and Eradicate
Taking this one step further, poor leads that won’t ever convert will conversely damage the reputation of any lead generator. With companies hyper-sensitive to wasted resources you must ensure you eradicate lead fraud from your process. You must run powerful and complete Validation. You must removed duplicate leads from any you distribute out. And you must distribute your leads securely and in real time to maximise conversion rates.
An area of lead generation which is likely to explode as a result of the changing industry is the employment of lead scoring as an essential tool. Whilst it is currently being used by some lead generators to help improve performance, it will very soon become an essential tool that is simply expected to be used by all.
For those unfamiliar, lead scoring is essentially a way of identifying the probability of a lead converting, allowing you to optimise performance in real-time. The thing to watch out for here is the type of lead scoring on offer: some companies offer the use of basic condition sets to primitively highlight more positive leads. In reality, what you really need is Machine Learning Lead Scoring. This may sound complicated, but in reality is as simple as flicking a switch. What makes it different to the primitive lead scoring is, when applied to the data, it can identify incredible patterns and insights which help score leads on an entirely new level, one which could never be recreated using any number of condition sets.
There is a lot more that could be discussed about this, but in light of the current situation the salient facts are these:
- Machine Learning Lead Scoring will identify the very best leads and massively increase your value to
anyone you are forwarding leads
- It will also very cleanly identify the leads that will never convert, again reducing wastage and
improving the quality of your leads to an unprecedented degree.
- Using this tool is super simple and incredibly effective
- In a time where ROI and conversion rates are key, being able to use lead scoring will make lead
High Converting Landing Pages May Be Your Biggest Asset
If you are aiming to generate high quality leads then you are going to need great landing pages. If you are aiming to generate high quality leads then you are going to need landing pages that CONVERT.
The following tips will help when it comes to getting the perfect landing page:
- Building landing pages is more a science than a design. The key is to focus on the problems you're
solving and the benefits you offer 2. You need to ensure you have 'social validation' of your offering - testimonials, case studies, ratings 3. You must be able to A/B test pages to hone in on high performers / eradicate low performers. 4. The follow up to the lead needs to be as on point as your landing page
There Is Opportunity In Uncertainty
Whilst this article so far has looked at a mid/long term approach to the recovery from Covid-19, in the short term there is also opportunity to improve your lead generation. You may have pulled back on campaigns and spending as a precautionary measure, but so have many others. The result of this is that right now, Clicks are as cheap as they have been in many years and your competition is likely weaker than it has ever been too.
In a counter-intuitive sense, almost like pulling into a skid when driving on ice, this is ironically a relatively good time to run Ads (providing there are no additional restrictions upon your vertical). The key to making the most of this opportunity is switching up your Ads and Landing Pages (both in terms of creative and copy) to speak directly to people during the height of the pandemic.
Landing Page Offer
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- Integrate with anything, diallers, CRMs, and send leads in real time.
- Receive leads in real time via API, or FTP, or drag and drop
- Deliver leads to the right buyer and generate highest revenue.
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