Lead generation is fundamentally about attracting prospects to your business and nurturing their interest, all with the ultimate goal of converting them into customers. This process is crucial for businesses aiming to expand their customer base and drive revenue growth.
In today's digital-first environment, businesses predominantly rely on digital advertising to acquire new leads. However, the journey from lead acquisition to conversion often spans both online and offline interactions, leading to a conversion funnel that is not only lengthy but also frequently lacks continuity, especially within marketing acquisition tools.
Challenges of lead generation
The challenges facing businesses relying on online lead generation are twofold:
Securing the right leads online, which involves identifying and engaging potential customers who are most likely to convert, thus reducing the cost per qualified lead.
Accelerating the conversion of existing leads, with the aim of enhancing the rate at which qualified leads become paying customers.
This dual challenge is exacerbated by evolving digital privacy regulations, the diminishing effectiveness of traditional advertising due to ad blockers, and the impending end of third-party cookies.
These dynamics complicate the precise tracking and targeting of potential customers, making it increasingly difficult to navigate the customer journey from online interest to offline conversion.
Additionally, the ability to effectively integrate data on offline conversions into online marketing strategies is paramount for optimizing the sales funnel. Without a cohesive flow of information bridging online and offline interactions, digital platforms will struggle to optimize your acquisition budget towards your offline objectives. This disconnect hampers the effectiveness of lead conversion strategies and, ultimately, impedes the ability to achieve long-term growth.
The leads obtained need to be nurtured to make them convert, but also processed to feed the algorithms in order to retrieve new qualified leads.
Some use cases to optimize lead generation
Here are some use cases that can be implemented with DinMo for lead generation optimization:
1. Limit the impact of the end of third party cookies
Traditional tracking is now limited:
User consent is mandatory for tracking via Pixel
More and more users use ad blockers, which prevents script triggering
By implementing the sending of online conversions server to server using DinMo, you can report more conversions and get the full picture of your online custom journey. Online Conversions can be sent to all advertising platforms (Meta, Google Ads, Tiktok, Pinterest, etc.)
Expected results:
>+ 25% reported conversions by sending all conversion data from the acquisition funnel to the following platforms (vs. a pixel standalone implementation)
-10% Reduce in CPA
>9/10 Matching Rate
💡 Sending Conversions is as easy as few clicks. Check our guide on Meta Conversions API or our resource on Google Enhanced Conversions.
2. Retarget leads that have not converted yet
Retargeting is a commun marketing strategy, focusing on people who have interacted with your brand by pushing them a message related to what they have seen.
Your leads are the people most interested in your company, but they need to be nurtured as long as they’ve not converted.
It's important to multiply the number of touch points by retargeting: depending on how far down the tunnel the lead is, you can use more personalized levers (start with social ads and then use email / sms).
💡 If your product is seasonal, keep on targeting as long as the timing is right. then you can reactivate this lead base the following year.
3. Exclude people who are unlikely to convert from your campaigns
Marketing campaigns are powerful but have to remain cost-efficient. Here again, it's all about sending the right message, to the right person, at the right time.
When you can manipulate your data, you can send CRM audiences to your marketing platforms, to make sure you don't target the people who are unlikely to convert, including:
Already existing customers (unless you have an up-sell or cross-sell opportunity)
Unqualified leads you have collected in the past
People you haven't been able to reach for some time
On average, these strategies reduce the cost per acquisition by 20%.
4. Move from raw lead optimization to to qualified leads optimization (in bidding strategies)
In the case of lead business, the event tracked on the website is not necessarily the final event of interest to the company. Your conversion should reflect the exact sales lifecycle, to perfectly know your lead / customer and run better marketing campaigns. To do so, you must enrich your marketing platforms with all your conversions events (both online and offline).
For example, if you track the submission of an online questionnaire, but the sale takes place systematically with sales reps afterwards, your advertising platforms will know nothing about it.
However, a lead who answers the phone and has already had an appointment with a sales representative is far more qualified than a lead who has simply submitted a questionnaire.
To encourage the acquisition of new qualified leads (i.e. who are more likely to convert), you can switch from lead management to qualified lead management:
Create a new conversion in your platform (for instance, phone call)
Send these offline conversions to your platform
💡 We created a detailed use case to send Offline conversions to Google Ads if needed
Optimize your campaign on that new event
Expected results:
-20% average cost per qualified leads
>8/10 Matching rate
5. Remove conversions from intractable leads
Intractable leads are worthless to your business. But advertising platforms don't know that! If you can't reach someone, you can cancel your conversion for:
Make the platform understand that the lead was not qualified and adapt its optimization accordingly
Stop spending money on this person in retargeting
6. Adopt lead scoring-based value optimization
In the case of a business with a long conversion funnel, it may be relevant to send information quickly to Google Ads so that it can optimize its algorithm on interesting leads.
💡 Conversion values assignment is an essential piece for GAds new smart bidding algorithms to maximize conversion value.
The idea is that to acquire more qualified leads that fit an ICP and are more likely to convert after their first action it is important to give Google Ads early signs of potential converters to improve algorithm optimization.
👉🏼 One solution is to predict future lead transactions value (LTV) based on first interactions and adjust conversion value of the lead based on this prediction, using DinMo.
By doing so, smart bidding algorithm will adapt to acquire leads that are more likely to convert and therefore improve the ROAS of your campaign.
Expected results: +15% on ROAS
If you want to learn more about how to leverage DinMo for a better lead generation, let's talk! ☕️
