Social Media Lead Generation, Your Strategy for 2020
Today, social media marketing is a delicate balance between brand building and lead generation. However, it is easy for companies to get caught-up and centralize focus in one realm or the other, rather than both. We either see companies ONLY using social media for brand building, using ALL platforms for the same content, or trying to EQUATE likes to sales.
But, as we embark on our social media marketing strategy for 2020, GROWL is here to set you up for success. To start effectively leveraging social media marketing for brand building AND lead generation, it’s essential to understand the WHY and the HOW.
Social media brand building 1-2-3s
The inherent purpose of social media marketing is to establish and maintain relationships – social media is a means of communication and connection that require value-additive, non-promotional content. Follow our social media 80:20 rule and consider these three elements for your 2020 strategy:
- Consumers intrinsically seek human connection, so social media should be used to create genuine relationships with your customers and prospects.
- Relevant, reliable content that ranges from sharing posts from neighboring businesses to showcasing your company in the community.
- Generate content pertinent to your products/industry that add value and tie into the daily lives of consumers.
Humanizing your social media brand presence amplifies awareness, improves perception and trust, and helps turn customers into brand advocates. Uncover the right 80:20 recipe for your brand here.
Social media marketing CAN’T be sales-driven. It’s science.
Using social intelligence, we know that humans are social creatures with spindle cells and mirror neurons that spark when we connect with others. Humans crave and seek authentic connections in-person and online. Thus, as brands, we need to not only understand our internal and external motives but also establish humanized personalities that drive customer relationships.
More and more, social media elements (i.e., likes, comments, and shares) are resembling human connection – but in a digital space. Over 90% of social media users communicate with brands, and over 63% expect humanized service in return – as in mutual interaction and communication. But, you can read more about using social intelligence for your marketing strategy here.
Ultimately, when you convert your social media strategy from sales-driven to relationship-driven, you’ll maximize both lead generation and sales.
Social Media for Lead Generation
Before diving into social media lead generation, let’s breakdown the basics.
- Leads are potential customers who have expressed interest in your company or product and have provided some form of contact information.
- Leads become prospects, prospects become customers.
- Lead generation is NOT sales. It’s about bringing the right people into your sales funnel.
- Lead generation IS gathering consumer intelligence, such as audience interests and pain points.
In today’s world of marketing, over 90% of a company’s top decision-makers admit that they’ll never respond to cold calls; however, over 76% are ready to have conversations on social media.
A few quick facts
- Social media is a more cost-effective way to reach prospects
- Facebook leads: average $0.80/lead
- Google leads: average $2.50/lead
- In 2018, 68% of businesses used social media, resulting in:
- 45% advertisement cost reduction
- 24% business growth
Generally, using social media for leads needs to be a balance of paid and organic content. Organic content showcases your business, culture, services, and/or products in use, giving viewers a humanized connection to your brand. This organic content contributes to your brand building and complements your paid strategy. Thus, paid content needs to be targeted and goal-driven. When your audience observes a sponsored post, they’ll examine your pages to learn more – to find that personality and connect. So, paid posts must include specific asks and assets that drive your audience to submit their contact information, qualifying them as a lead.
While social media can immensely benefit your company’s lead generation and be the perfect place to turn your audience into leads, tactics can’t be exclusive to these platforms.
Your WORST mistake: thinking likes = sales.
When using social media for lead generation, the goal is not direct sales. Likes, comments, or shares never automatically result in revenue – such engagement contributes to brand building, loyalty, and lead nurture. Whereas, in lead generation, the goal is engaging your audience and driving them OFF of the platform.
While it’s efficient to collect leads on social media, they’re typically cold and need to be nurtured, which cannot be done exclusively on the platform. The leads gathered on social media should be directed through a nurture stream of remarketing (Google Ads), email campaigns (automation), and sharing valuable resources (blogs). These factors provide additional consumer touchpoints (increasing trust and interest) and advance leads through the sales funnel.
Here’s the breakdown.
- Post daily organic content for brand building
- Show who your business is and create and maintain customer relationships
- Create goal-driven paid content (social media ads) for lead generation
- Include specific audience targeting (this increases reach)
- Use specific, CTAs that invite leads
- Create assets exclusively for ads
Ultimately, you need a robust, multi-channel strategy to turn leads into customers. Follow GROWL’s top 5 social media lead generation tips below to get started.
5 lead generation tips using social media
- Determine what platforms to use – establish your target audience and find where they are. Keep in mind that lead generation is not successful on every platform for every industry.
- Strategize social media advertising – start with a lower budget and set goals beforehand.
- Share value-adding resources, especially links, to gated content organically and paid. This promotes lead collection outside of the platform.
- Focus on your target audience and get specific. Social media ads should explicitly define the who, where, and what for your ads. Try targeting per location and psychographics.
- Direct leads away from social media. Remember, your brand never truly OWNS your pages. Generate leads on social and direct them to a click-through landing page hosted on your website.
Marketing efficiently on social media requires a strategic balance between brand building and lead generation. Need help cultivating your brand’s plan? Contact GROWL today.