Importance of Lead Generation for Ecommerce Businesses

Lead Generation for Ecommerce

From self-driving cars to Artificially intelligent robots Businesses have come a long way in the 21st century. With evolving societies and the increased need for shopper convenience, almost all businesses are making a shift to eCommerce concepts to better facilitate the needs of 21st-century customers. 

Maintaining an eCommerce or Switching to an Ecommerce mode of business requires a lot of work especially with generating leads and converting those leads. Any business is only as successful and profitable as its lead generation strategies. Paying attention to the generation of the ideal leads is extremely crucial. It not only reflects on onboarding and retention levels but also tends to have a strong impact on overall revenue generated as well.

Lead Generation for Ecommerce

What is Lead Generation for ecommerce?

To put it in simple words, lead generation is basically the process of identifying and nurturing potential consumers or customers for a business’s services or products. The lead generation process is one of the most important factors that help organizations stay in business in their respective markets.  Identifying the ideal lead can be a very hectic and time-consuming job for eCommerce businesses. Particularly when the process does not make use of effective lead generation tools or technology. Ecommerce businesses these days rely on automated lead generation tools like Artificially intelligent chat systems or chatbots to make the process less hectic and more efficient.

Importance of effective lead generation for Ecommerce

With so many businesses switching to the eCommerce mode, doing business and making sales has now become a tad difficult. There are hundreds of options available to target groups for the same products and services. To stay alive in a competitive environment like this, identifying, tracking, and nurturing the right kind of lead becomes extremely important.

Failing to generate proper leads or generating leads from a different target demographic can be very damaging. It not only affects the revenue generated but also the overall business growth as well. But thanks to the cornucopia of automated lead generation tools like AI Chatbots, SEO Marketing, etc. Ecommerce businesses no longer have to worry about ineffective lead generation.

Did you know that –

  • About 53% of marketers spend at least half of their budget on lead generation.
    (Source:  BrightTALK)
  • Around 80% of marketers believe marketing automation generates more leads.
    (Source:  APSIS)
  • 37% of marketers stated that generating high-quality leads was one of their biggest challenges. (Source: Ruler Analytics)
  •  31% of marketers stated that proving ROI was one of their biggest challenges. (Source: Ruler Analytics)
  • 91% of marketers say that lead generation is their most important goal.  (Source: Ruler Analytics)
  • Leads are 9x more likely to convert when businesses follow-up within 5 minutes.
    (Source:  Ziff Davis)
  • 63% of leads who inquire about your business won’t convert for at least 3 months.
    (Source:  Marketing Donut)

How Chat360 is helping eCommerce businesses with lead generation 

According to a report by  Business Insider, the AI chatbot or chat application market size is projected to grow from $2.6 billion in 2019 to $9.4 billion by 2024. AI chatbots have now become the need of the hour. They can not only help identify potential customers for a brand, but they can also help businesses provide the best customer service assistance.

A report by  Statista stated that about 3 billion people around the globe rely on phone-based messaging applications to connect and communicate with one another. With 2 billion active users, WhatsApp has now become the most used messaging platform. Keeping the need for effective lead generation, Chat360 has a proven performance of generating 20% more leads  for leading industries. Along with that, Chat360 also has a track record of reducing Cost Per Lead by up to 30%. The WhatsApp chatbot enables businesses to identify potential customers through its intelligently programmed artificial intelligence.

Identifying and nurturing the ideal prospect or consumer can be hard. WhatsApp chatbots can not only help businesses step up their lead generation game but can also help them nurture leads into loyal customers. To know more about Chat360’s lead-generating WhatsApp chatbot click here to book a demo!