The old outbound marketing efforts to generate leads aren’t anywhere near as effective as they used to be. Infomercials, direct-mail, telemarketing, and even e-mail marketing don’t generate quality leads like they used to.
This is why so many companies are turning to social media to find leads. People aren’t watching tv or even picking up the phone anymore, everyone is online, engaging in social media.
A study from Hubspot, released on eMarketer shows that spending on lead generation is 60% less when the company is spending half of their budget or more on inbound marketing, such as social media. Those who are still using outbound tactics are paying more per lead.
It’s evident that being active in social media provides the best cost per lead, you just need to be listening and engage your potential leads. People are on the move and they are tweeting, blogging, and posting to facebook from all over – even inside a store or mall. Social media is making lead generation cheaper, are you taking advantage of the opportunity?
Very interesting and something that a lot of people are finally beginning to understand but still too scared or uncertain about how to use social media to generate leads. Nice blog Vince, I’m glad I found it as I’m always keen on learning more about social media and its ever growing importance in business.