Using Social Media for Lead Generation: Tactics That Convert

Why Social Media is a Powerful Tool for Lead Generation

Social media has become an essential part of our daily lives, with over 4.89 billion people using it worldwide in 2023. This vast audience offers a significant opportunity for businesses to reach and attract potential customers. Social media lead generation is the process of collecting new leads using social media platforms.

A lead is any information identifying someone interested in your products or services. This information can include their name, email address, occupation, and employer details. In this article, we will explore the benefits of using social media for lead generation and provide you with ten effective tactics to convert your social media audience into paying customers.

Why You Need Social Media Lead Generation

Social media lead generation is crucial for both B2C and B2B businesses. Here are five reasons why it’s essential for your business:

• Expand Your Reach and Boost Audience Engagement: With billions of active users, social media offers access to a broad and diverse audience. This allows you to raise brand awareness, drive website traffic, improve social media engagement, and draw more eyeballs to your brand.
• Target Your Ideal Customers: Nine out of ten consumers will buy from brands they follow on social media. Identify your ideal customers and target them with relevant content and offers to convert them into paying customers using social media’s sophisticated targeting options.
• Optimize Your Marketing Spend: Social media is much cheaper than other advertising types due to its scalability. Set budgets, monitor performance, and adjust campaigns in real-time to get the most value from your social media marketing spend.
• Access In-Depth Audience Data and Analytics: Social media platforms provide extensive data and analytics tools for tracking lead generation efforts. Gain insights into user behavior and measure ROI to refine your strategies.
• Nurture Your Leads: According to The Sprout Social Index 2023, staying informed about new products and services is the top reason consumers follow brands on social media. Nurture your leads by sharing memorable content, answering questions, and building relationships with your followers. This approach turns your audience from passive followers into loyal customers.

How to Generate Leads from Social Media

Now that you know the benefits of using social media to generate leads, here are ten tactics to help you reach the right people at the right time with the right content and messaging to capture their interest and generate high-quality social media leads for your organization:

1. Launch Compelling Lead Magnet Offers

The right incentive compels people to share their information with you. Create enticing lead magnet offers that people want, such as research reports, free tools, discount codes, case studies, webinars, whitepapers, and more. For example, AWS Training and Certification advertised a free ebook on LinkedIn, which is a perfect example of a lead magnet offer.

2. Create Targeted Ads with Special Offers

Paid social media advertising is highly effective for generating leads due to the precise targeting options and potential reach. These features allow you to personalize offers and expand your audience beyond that of your current social media followers. For instance, Motion used Instagram ads to generate demand with a free trial offer.

3. Make the Most of Lead Generation Ads

Take your social media advertising one step further with lead-gen ads. These ads allow you to gather leads on a social platform rather than pushing customers to a landing page. They come with pre-populated forms, making it easy for leads to sign up without spending too much time entering their personal information. For example, LinkedIn Lead Generation Forms have a 13% average conversion rate, while landing pages average about 2.35% conversions.

4. Set Up Sequential Retargeting Ads

Retargeting ads are the most used among marketers, with 77% of B2B and B2C marketers saying they use retargeting as part of their Facebook and Instagram advertising strategies. Retargeting amplifies your social advertising and lead generation strategy by re-engaging lost prospects. For instance, Casper uses retargeting ads to re-engage their previous viewers to buy their products.

5. Share Testimonials as Social Proof

Customer stories, reviews, and testimonials give you the social proof you need to acquire new leads. Showcase how clients benefit from your products and services to demonstrate your brand value. For example, Kajabi often shares engaging testimonials of how people have used the platform to launch thriving businesses.

6. Leverage Influencer Partnerships

Consider working with reputable content creators who are popular with your target audience to promote your brand, product, or service. Partnering with influencers attracts leads from the social media content your target audience is already consuming. For instance, Home Depot partnered with DIY influencer Nickell Morgan of @simplyhandmade for an Instagram video where she created lawn games with the brand’s products.

7. Host a Virtual Event or Social Media Conference

Virtual conferences and events are a great way to attract a highly relevant audience while establishing your expertise and authority in the field. They’re also great for generating leads on social media since people must provide their info to sign up or join the conference. For instance, Superside regularly hosts Gather & Grow, a live educational webinar series featuring leading digital marketing and advertising experts.

8. Launch a Referral Campaign

Referral campaigns are highly effective in doubling your sales leads. These campaigns incentivize your leads to refer their friends or colleagues. The referred people will learn about your products or services and potentially become additional leads. For instance, vacation rental brand Getaway has a referral program where customers give and get $25 off their next booking when they refer a friend.

9. Make the Most of Social Listening

Look for lead generation opportunities with effective social listening. Monitor social media conversations and see what people say about a topic or competitor brand. This will help you identify any opportunities to generate high-quality leads for your business. For instance, someone complaining about a competitor’s product might appreciate an alternative.

10. Use Advocacy to Let Your Team Spread the Word

Each of your employees has a social network. Now, imagine the impact tapping into those audiences could have on your growth efforts. This is the power of employee advocacy. According to The Sprout Social Index, more than 1,000 marketers reported that employee advocacy helped them drive more qualified leads. For instance, Vizient, the US’s largest healthcare performance improvement organization, created an advocacy resource hub with Sprout, making it easy for Vizient employees to become social media brand advocates.

Conclusion

Social media is a powerful tool for lead generation, offering a vast audience and sophisticated targeting options. By incorporating these ten tactics into your social media strategy, you can effectively reach and engage with your target audience, convert them into paying customers, and drive business growth. Remember to measure the impact of your lead gen efforts and look for opportunities to improve.