Thursday, July 25, 2024

Marketers Diving into Social Media Lead Generation

Lead generation is important in marketing. However, there has been always a debate between quantity and quality leads. The rise of social media has offered a new platform to marketers to generate leads. However, the question still remains whether they should focus on quantity or quality leads.

A recent study by TINT finds that consumers are increasingly using social media to search for and discover new products. Two-thirds of consumers purchase after seeing the product on social media. The trend has been well noticed by marketing leaders and this is the reason the spending on social media has reached to its highest level since the the COVID-19 pandemic.

Simply generating a high volume of leads is not enough. It is suggested that the marketers should focus on quality over quantity. Becky Bui, Senior Director of North American Small Business Sales at Meta, stated that their lead generation products in 2016 were focused on high-volume, low-cost leads and since then they have invested in helping their customers with quality.

Meta’s lead generation product, instant forms, is a prime example of this shift towards quality. The forms sit within Facebook and Instagram and automatically fill in the information of the reader when it loads and thereafter generates lead on the Meta platform instead of sending the prospect off to a website. The process was a 20% lower cost-per-qualified-lead (CPQL) compared to website forms.

Moreover, social media platforms like Meta are rich in data. The platforms have a plethora of information that advertisers request from prospects in a lead gen form. This allows for more personalized and targeted lead generation campaigns.

It is important here to take a note that not all businesses are the same. Some need to reduce friction.

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