The holidays are approaching as the year winds down, and marketers across various industries are ramping up their lead generation efforts to convert as many leads as possible to close out the fourth quarter of 2022 on a solid note.
Some marketers approach this time of year with the intent to re-engage lapsed prospects and previously purchased leads. Although the reasoning behind that approach is understandable, it’s hard to justify considering that these leads didn’t convert for a reason. Regardless of what caused a prospect to bounce, the chances of re-engaging a low-intent lead remain low — for the lack of a better word.
A practical approach heading into Q1 of 2023 would be to assess the demand for the particular product or service you market and engage new prospects looking for solutions ahead of the new year.
As Director of Business Development, I constantly monitor emerging trends across the insurance, home services, and finance industries. The following are some tips for engaging new prospects during the holiday season.
Identify Industries Currently in Demand
Instead of dedicating most of your time to working on used leads, take note of any consumer trends emerging during this quarter to assess the current demand in any of the markets you operate in.
For example, with open enrollment for Medicare currently underway, medical insurance marketers are scrambling to generate supplement leads to meet consumers’ demand for such coverage.
On the flip side, the demand for auto insurance has decreased considerably due to rising interest rates, making it harder for consumers to finance a car. Select companies are buying a significant portion of auto insurance leads, compounding the issue for marketers battling for high-quality prospects.
Then there’s the home services industry, experiencing highs and lows. Despite the growing threats of inflation, the industry is still going strong, but the demand for specific services is dwindling this time of the year.
For instance, the need for pest control services takes a dip during colder months, which means lower volumes of HVAC leads for these businesses. The same can be said about the solar vertical — homeowners typically don’t shop for these services during winter.
It is an excellent time to start planning for solar because it can take a couple of months to get solar panels installed, just in time for the warmer months to pick back up in Q2 and Q3 of next year.
Take Advantage of Opportunities Stemming From a Down Economy
As consumers continue to bear the effects of inflation and a slow economy, new opportunities are emerging for leadgen marketers. The demand for loans and debt settlement is progressively increasing as more and more consumers are growing in need of refinancing or access to fast cash.
Converting leads during an economic downturn may seem implausible — especially with the holidays right around the corner — but there are opportunities, as evidenced by the demand for financial services. Personal loans and debt settlement are hot verticals in the current economic climate this time of the year.
Keep an eye on consumer trends and take advantage of any opportunities resulting from economic uncertainty. You’ll find that there are more opportunities than ever before.
Develop Relationships for Long-Term Success
When it comes to leadgen, one pain point marketers are constantly trying to solve finding their target audience.
The most valuable leads a marketer can get are not necessarily from the platforms on which everyone else is competing — Facebook, Instagram, Google, etc. Of more importance is determining where your target audience is because the more information a marketer has on that consumer base, the more successful they’ll be.
This is where a presence at industry events and conferences can prove invaluable. Some marketers approach industry events to attract new customers, but the opportunity to develop relationships with potential partners is just as beneficial.
From my perspective, if we’re in the same industry, the potential for helping each other grow is always present, whether through a direct client relationship or from a partnership perspective. So, Phonexa is scaling its customer success teams to help nurture these relationships and generate more contacts. We recently launched our partnership program that offers monetary incentives and mutually beneficial referral relationships with partners, their clients, and even Phonexa clients.
One thing I always make sure to communicate when attending these events is this isn’t a zero-sum game. There’s always enough business for everybody, so it never hurts to have a conversation. You never know how someone in the same industry can help you. From my experience, this message has always been well-received when connecting with others at events or conferences.
Are you interested in a tech partnership to elevate your experience? Join Phonexa’s Partnership Program to tap into a new pool of prospective clients, business partners, and perks that make a difference for your business model.
As marketers continuously search for new business opportunities during the holiday season, it’s important to have scalable infrastructure capable of supporting all their leadgen efforts through proper tracking, reporting, and analytics. A flexible software solution allows you to leverage reports and analytics to help determine the most critical metrics and KPIs.
The trends shaping consumer behavior during the fourth quarter of 2022 may carry over into the new year. Continue engaging new prospects as you would during the first three quarters of the year and adjust to the needs and demands of your target audience. Doing so will put you ahead of the competition heading into 2023 and beyond.
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