Can You Make Money With Lead Generation?

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Can you make money with lead generation?

Well, the quick answer is yes, you can make money with lead generation. Lead generation is one of the essential factors while generating revenue. It is indeed a powerful way to get more buyers who can be long-term customers for a business.

Every business needs sales. To close sales, businesses focus more on lead generation. It is like a primary step for online businesses to achieve their desired number of sales. The more you generate leads, the more is the probability of sales.

Please do read the whole article to get a better understanding of how to make money through lead generation. In case you are not interested in the basic information, you can skip to “Can you make money with lead generation?” or “How to get leads?

Let’s get started!

What is lead generation?

Let’s understand what the term “lead” means. This is the most common word used in digital marketing. While offering your product or service, you must need customers who are ready to buy.

Now how to reach your potential customers? Potential customers are called leads. A lead is called so because it leads to sales.

Every person out there in the world who is ready to buy your product is a lead. Lead generation is a process through which we can generate leads. It is a valuable skill to learn for your business and close more sales.

You can obtain a lead for your business by getting their:

  • Name
  • E-mail
  • Contact number, etc.

It is not necessary that these 3 together are needed every time. As a business, you can ask for any type of information from your potential leads, but the above-mentioned attributes are the most commonly used ones.

Types of lead generation

Understanding the types of lead generation will help you decide which one better fits your needs and is good for your business.

Leads can be generated using two ways:

  • Organic – Organic lead generation means to generate leads organically without spending any money on paid ads.

There are two ways to generate leads organically:

Prospecting – It is a way to reach out to people and promote your business by word of mouth.

Further, it can be done in 2 ways:

  1. Networking (Adding up 10-15 friend requests per day through social media platforms)
  2. Group promotion (Posting 2-3 quality content per day in relevant social media groups e.g Facebook groups)
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Marketing – It is the way of putting out the content in such a manner to make people reach you.

Marketing involves 4 stages (attraction marketing):

  1. Personal Branding
  2. Understanding and Identifying your target market
  3. Optimising your profile
  4. Content Marketing
  • Inorganic – Inorganic lead generation means generating leads by spending money on paid ads like Facebook ads, Google ads, Influencer marketing, Instagram ads, LinkedIn ads, etc. (Learn more: How to get leads?)

Both the ways have their pros and cons. Depending on your ability and needs you can choose either one.

As per my understanding, if you are an individual or a beginner who doesn’t have enough budget to get into paid ads, you can start with organic lead generation. However, if you have some budget, you can try the inorganic lead generation method.

But, I must warn you—paid ads require a lot of hard work, understanding, and experience to get a profitable ROI. It is very easy to waste all of your money just “trying” it. So be careful and learn how to create a successful campaign before jumping into paid ads.

Organic lead generation doesn’t require any money but it will take some time and effort. After you get some sort of experience and understanding, you can move to inorganic lead generation.

Inbound and Outbound marketing

Inbound marketing – In this method, leads are generated automatically once you are done with the attraction marketing process (four stages). You have established your brand and gotten leads through that.

To get leads through inbound marketing you can show the testimonials, feedback, and reviews of your product, showing business activities, posting relevant content, etc. which brings curiosity to know about you and your product.

Outbound marketing – In this method, you approach people to sell your product/service. You can approach through several social media platforms such as Facebook, Instagram, WhatsApp business, Linked In, etc.

Further, you can do outbound marketing in three ways:

  • Message – You can reach out to leads through messaging which is the best way. Never reach out directly instead engage by liking their latest post and commenting. After doing this you can inbox and start your conversation.
  • Video – Another effective way to approach by sending a video of about 20 to 30 seconds. Where you can tell about yourself, your work, etc. It is the most effective as I said since it builds trust among the leads.
  • Audio – Outbounding through audio increase the chances of reading your message (audio). People get curious regarding what is actually there in that audio which increases the ratio of opening it. In audio, you can pitch your product/service and tell in short about yourself.

Choosing outbound or inbound depends upon your need. Whether you do outbound or inbound, what matters the most is profile optimization. A proper profile optimization will get you a bunch of leads from which will surely get you some money.

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Can you make money with lead generation?

As we talked about in the introduction, yes you definitely can make money with lead generation. you must require a product or service to offer the customers. Product or service should be of such kind that adds value to the people. They should feel the value for money. While generating leads you don’t focus on the sales, you focus on the leads. Just generating leads won’t help you to make money. However, there are some cases where a person is appointed to generate leads for the company and the person earns money.

Trillion-dollar worth industries like Investment, Mortgage, Home insurance, etc require a lead generation to make money. To make money with lead generation you need to work with affiliate networks. Affiliate networks give you the product or service to market.

E.g. When the person reaches the companies website and fills in the information, you get money for each lead let’s say $20. Money depends upon the companies product or service. It is one of the easiest ways to get started since it doesn’t involve the person making payment instantly. Instead, they fill in their basic details as mentioned above.

So yes, you can make money by generating leads each time when a person provides information.

Why do we need leads?

Before learning about how to get leads, let’s first learn about why do we need leads.

For instance, if you have 10 leads, you will be desperate to sell. Suppose four-person are interested in buying, so the conversion rate is 40% (4/10*100). If no one is interested in buying, then you will get frustrated or demotivated. We are aware of the fact that 100% conversion is nearly impossible.

Now let’s assume you have 100 leads, even if 70 people don’t buy you won’t have any objection. You won’t be frustrated since the rest 30 might buy. Who knows those 70 disinterested people might buy in the future on following up.

So the point here is the more are the leads, the higher are the chances of conversion.

How to get leads?

Now let’s break the silence and learn how to get leads.

There are multiple ways to get leads which are as follows:

  • Ads: Getting leads through paid ads is the most used method. Here the best part is you have the option of whom to show and whom not. You can filter the details regarding age, location, profession, gender and so on. Even you can retarget ads to people in future whom you’ve already selected.
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People get interested and trust you when they see their interest-related ads which help in making connections.

  • Facebook groups: This works amazingly well. Pick your niche and try to provide value consistently to the people who are your relevant audience. Do optimise your profile, bio to attract potential customers. Once you consistently providing value to the people, they will trust you as an accountable person.

This will create your brand value and enhance the relationship.

  • Shout-outs: This could be a paid one or free. It means the person with more followers shares post in the feed or story with mentioning to follow and connect with you. People interested over there comes to your profile and does inquiry.

This should be done with a person having more followers and his/her audiences are your potential customers.

  • Collaborations: You can collaborate with a person (probably influencer) who has decent following. This could cost you but will be effective. You can post a video or go live with the person and add value to the people.

It builds trust and increases visibility. You can even reach out to a new audience so it is worth trying.

  • DMs: Here try to provide as much value and if possible do solve queries of people. This will create healthy relations and will help you in the long run. Avoid spamming and don’t pitch your offer directly until you know that person.

Support them when needed and keep engaging regularly.

  • WhatsApp stories: This is indeed a powerful way to get leads. Reason is you have contacts of your near and dear ones. It will create awareness amongst them and probability of getting leads is mostly higher.

Further, you can even create a broadcast list and add the people to that list.

  • Telegram groups: Another effective option to help your content reach to your niche. Intriguing part is you can even add up to two lakh people in a group. No need to exchange the numbers so the privacy is protected.

Final thoughts

In conclusion, I would like to say that it is possible to make money with lead generation provided you have the right approach and guidance. To conclude let’s recap what we have learned so far:

  • What is lead generation?
  • Types of lead generation?
    • Organic
    • Inorganic
  • Inbound and Outbound marketing
  • Can you make money with lead generation?
  • Why to get leads?
  • How to get leads?

Hope you enjoyed and learned something valuable from this article. Please share your thoughts in the comments below and feel free to share about anything you liked. Also do share with people who may need it.

See you in the next one.

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