Lead generation is the lifeline of every business.
But many businesses and entrepreneurs find lead generation hard, expensive, and very painful at times. That’s because they face all sorts of challenges and obstacles during the process of generating leads. In fact, according to Marketo, lead generation is actually one of the biggest struggles for 60% of marketers.
And if these challenges are not resolved, they can seriously hinder all the time and marketing efforts spent in finding new prospects.
So let’s identify the common lead generation challenges, so you can develop and enact the best strategies to combat these obstacles, and eventually achieve the optimal results that you’ve been looking for.
Here are 3 common challenges that businesses face when it comes to generating leads.
Challenge #1: Unable To Reach Your Prospects
When it comes to prospecting, a common frustration that businesses face on a daily basis is not receiving a response or constantly leaving voicemails when following up with their leads.
And this is primarily because most people ignore calls from unknown numbers or companies, as they assume these “junk” calls that have absolutely nothing of value to offer.
In fact, according to Hubspot, it takes an average of 18 calls to actually connect with a prospect nowadays. By that time, the prospect may have considered another company.
So your best bet is to ditch the traditional prospecting strategy, and use a modernized strategy that makes your prospects come to you, and ask you for more information instead.
Challenge #2: Not Getting “Sales-Ready” Leads
Alright, so even if you’re able to get a hold of your potential prospects, how do you know if they’re actually interested or if they’re ready to buy?
This is exactly the next challenge that businesses face, not getting ready-to-buy leads.
And this is caused by one of the common misconceptions with lead generation, which is “more is better”.
To understand why more isn’t always better, let me ask you a question:
Would you rather have 100 leads but none of them convert into sales, or have 1 lead that turns into a sale?
The answer to that is pretty simple.
Without a doubt, following up with 1 lead that converts into a sale, is better than wasting your time and effort to contact 100 leads and not closing a single sale.
As a matter of fact, high quality leads are like the backbone of every single business. You can attract all sorts of paid traffic from different platforms, but if they’re not interested in your service/product, or not ready to buy at all, then it’s going to be nearly impossible to convert them into paying customers.
So to overcome this challenge, you’ll have to change your mindset to “quality over quantity”, and focus on a different prospecting approach that is designed to get you sales-ready leads (also known as high-quality leads).
Challenge #3: Your Leads Are Not Being Converted Into Sales
After attracting new prospects, businesses face the next challenge – not able to convert the leads into sales.
While there are many factors to that, such as your prospect does not see a value in your offer, or it’s too expensive for them at the moment, and etc. But there’s one key factor that many businesses tend to overlook, which is Lead Response Time.
In short, lead response time is the amount of time it takes to follow up with a lead that has contacted a business and expressed his/her interest in the service or product offered.
Very few businesses realize that their long response time is actually killing their business. Simply put it this way, if you don’t follow up with your leads within the golden window of opportunity, then no matter how hot of a lead they are, they will turn cold eventually.
According to Inside Sales, when you follow up with your leads 5 minutes after they requested for more information, you are 10 times LESS likely to get a hold of your lead. On the contrary, if the lead is contacted within 5 minutes after requesting for more information, they are 78% more likely to buy, as stated by Vendasta.
So to overcome this challenge, you’ll need to implement a new strategy so you can follow up with your leads within 5 minutes.
Alright, so now that we’ve covered the 3 common challenges that businesses face when it comes to generating leads, you’re probably thinking, “lead generation is HARD and complicated”.
But the truth is, your lead generation process can be easy and completely automated.
In fact, you’ll be able to consistently generate high-quality leads to fill your sales pipeline with our LeadsHunter for Business Program.
This one-of-a-kind program is designed to help businesses overcome the 3 common lead generation challenges using a 100% done-for-you Automated Lead Machine.
We will craft out a lead magnet that no one can resist. We will also find your target audience, so at the end of the day, you’re attracting leads that are truly interested in your service or product, to come to you for more information.
But most importantly, we will execute the entire campaign in your ad account, and get your Automated Lead Machine up and running in no time!
And there’s more.
Not only are you able to generate a floodgate of high-quality leads through this Automated Lead Machine, but also get access to this proprietary software to automate and manage your leads all-in-one platform, so you will never miss out on the golden window of opportunity to convert your qualified leads!
Go here to book a free strategy session to learn how you can benefit from this new prospecting strategy & overcome the 3 common lead generation challenges.
We hope that you’ve found this blog helpful in overcoming some of the struggles with lead generation.
And we would love to hear more about the different challenges that you have faced when it comes to generating leads. So leave us a comment below & share with us your lead generation story!