Many marketers struggle to decide if they should focus on lead generation or put their effort into brand awareness. The struggle is about striking a balance between the two because your business needs both. Lead generation and branding are like two sides of the same coin. You cannot ignore one for the other. In fact, for a digital marketing strategy to be successful, both must go hand in hand. Learning how and when to prioritize what, can be a game-changer for the growth of a business.
Let’s first learn what is lead generation and what is branding. When we are clear about these two terminologies, we will be able to better appreciate their differences and significances.
What is Lead Generation?
Lead generation is the process where a business attracts potential prospects to their website and converts them into leads. These leads might eventually become the valuable customers. Lead generation is a specific task and targets the prospect for a defined purpose. The purpose can be to get them to check a particular landing page, sign up for a newsletter, or purchase a product. The success of a lead generation campaign can be measured using some defined metrics like – the number of sign-ups or the number of products sold.
What is Branding?
Branding as the name says is about increase awareness about a brand. The focus of a branding campaign is to reach more people and let them know about the brand. Social media ads, promotions at networking events, social media campaigns, etc., are typically used to increase the reach of a brand digitally. The primary aim is not to generate sales, but to make people aware of a brand name. Branding helps in establishing a business as a recognized and trusted name in its niche.
How to Balance Branding & Lead Generation for Successful Digital Marketing?
Imagine yourself as a brand-new entrant in your niche market. Your first task should be to work on branding because it is the foundation and will help you gain the trust of your audience. Reach out to the audience and tell them what is your brand all about.
For established businesses, a good branding campaign will help in making them stand out in the crowd. The brand campaign should focus on what makes the business different, special, or better than its competitor. It will help them increase their market share.
Establish your presence, quality, and expertise through offerings like blogs, social media posts, special offers, etc. Customers are likely to buy from brands they trust. When customers know about your brand, you have to offer them something that adds value to them to make a sale. That is where lead generation comes into play.
Lead generation campaigns can go simultaneously with branding. It is a very popular way of building your email contact list. You can offer people coming to your landing page coupons or discounts when they sign up for the newsletter. You can also ask your existing customer base for referrals and offer them something of value in return. Every business should run a lead generation campaign from time to time to attract potential prospects.
Conclusion: Two Sides of the Same Coin!
So, you see even though branding and lead generation are different, they have a significant impact on each other. When branding is strong, lead generation follows. When leads are converted into customers, they establish the brand even further. In most cases, it is not a case of choosing one over the other, but combining both for best results. It is a matter of using the right technique, at the right time. If you can do it, your marketing efforts will bring in results.
We at Digital Sprout, a Maryland-based Web Design company, have helped many e-commerce developers and companies leverage the power of branding and lead generation through our digital marketing and Search Engine Optimization services. If you need help with the same, contact us today.