How can AI improve lead generation?
BY JAMES WILLIAMSON
Many businesses today find it challenging to keep up with digital trends and new technologies in sales and marketing. But keeping up means keeping ahead, especially in the area of artificial intelligence or AI-driven lead generation. In this blog we explain why.
What is lead generation?
Lead generation or ‘lead gen’ is the process of converting prospective clients interested in your product or service into a sale. Lead gen is a sales and a marketing skill because clients are ‘nurtured’ - helped through the buying journey to a sale - with sales and marketing campaigns, through the marketing funnel (attracting attention > generating leads > driving conversions).
AI-driven lead generation
AI-driven lead gen can help drive business growth in three main ways. First, it can drive more leads from existing assets. Second, it can save businesses time, effort, and cost. Third, it can provide better quality customer data and more valuable insights, resulting in marketing campaigns that target customers and prospects and help nurture leads.
Let’s look at some AI lead gen techniques.
AI-driven lead generation techniques
Customer insights
Understanding your customers means knowing them. Gaining valuable insights into customer behaviour, dynamics and patterns can mean more conversions from leads into clients or prospects into leads. AI can better harness customer insights because 1) customer data is compiled automatically from a wider array of channels with far fewer errors than a manual data process 2) immense amounts of data can be analysed fast, which is not possible with a manual process - for example, assessing language and channel patterns at speed 3) AI tools can generate more refined, unbiased customer profile reports, making lead gen more efficient.
“AI can better harness customer insights.”
AI-powered chatbots
Chatbots aren’t exactly new, but today they’re much more refined and are considered a valuable way of generating leads using AI. Businesses can now provide accurate, directed and instant customer service 24/7, collect customer data from the interactions through natural language processing, as well as qualify each customer lead. The chatbot can also cross- and up-sell, help the customer navigate the site, provide a strong brand and user experience (UX), and nurture leads.
SERP tracking
‘SERP’ means search engine results page. This is a web page search engine like Google which returns page results after a search query is submitted. In addition to organic search results, SERPs usually include paid search and pay per click ads. A search specialist in a marketing team will combine AI with effective SERP tracking tools to boost a business’ SEO ranking and be visible to more relevant prospects. AI, via SERP tracking, can also fine tune campaigns and metrics, analyse user intent, and prompt marketing teams on certain issues as they arise.
AI, via SERP tracking, can also fine tune campaigns and metrics.
Faster lead assessment
AI provides for faster, more accurate lead segmentation and a speedier lead gen process. This in turn enables more curated content, personalised offers, and highly customised strategies to assess and attract leads. For example, if AI tools provide insights that a business’ best prospects are women between 20 and 35 years old, marketing-sales teams can pivot and tailor the message. As new leads come in, the AI tool can qualify and assess those leads. Insights help teams understand which leads to focus on, improve the sales funnel, and formulate more effective, more agile, marketing tactics.
“AI provides for faster, more accurate lead segmentation and a speedier lead gen process.”
Refine the marketing message
AI tools enable data and analytics to be more finely assessed and delivered quicker to the marketing and/or sales team. The enhanced speed and quality of data means that content creation can be more polished, with brand messaging more refined and tailored to campaigns. Metrics are no longer raw, but are amplified information helping to guide all segments of the marketing strategy.
Predictive modelling
AI tools can swiftly analyse a huge amount of industry data to accurately predict trends, customer expectations, and market shifts. This provides valuable insights for a business’ lead gen program, allows teams to anticipate customers’ changing needs, prepare the brand for inevitable market shifts, and make better forecasts so that future lead generation efforts can evolve.
Maximising marketing spend
Lead generation will always be a challenge for sales and marketing teams. But if businesses embrace AI technology and techniques, they’ll be better placed to improve their marketing processes, help target customers find their business and products more easily, and build competitive advantage.
references: Foundr, Ron Sela, Semrush
