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In the competitive Australian business landscape, lead generation plays an important tool in funnelling customers into the business and maintaining sales and growth.
A 2023 report from Hubspot found that lead generation was considered a top priority by 50% of marketers, and generating more leads is the top priority for most marketers over the next year. Regardless of whether you’re a small startup or an established corporation, lead generation is crucial in turning potential customers into loyal clients.
However, lead generation expert and founder of Ontapleadgen, Laslo Biro, has revealed the three traps that even the most seasoned and well-intentioned businesses can fall into, costing them thousands in missed opportunities.
Laslo Biro founded Ontapleadgen in 2019, after noticing in his corporate career that successful businesses thrived best when they had a steady stream of high-quality, qualified leads. Since then, he has helped a range of businesses improve their leads, including Perth-based bathroom and kitchen firm Venaso Selections.
“One of the biggest mistakes that I see businesses make is relying too heavily on organic growth,” Laslo said.
When he began working with Venaso Selections, Laslo noted that the brand was underperforming, despite their offering including high-end products and services.
“Through targeted, intelligent lead generation, we were able to expand Venaso Selections from a sole showroom into three thriving locations. When you rely too heavily on organic channels, it’s challenging to build predictability and scalability to help grow your business.”
The second aspect that keeps businesses from expanding their customer base according to Laslo is DIY marketing.
“Many business owners think that they can handle all the day-to-day details of running a business, while also staying on top of the marketing as well.”
One of the game-changers for Venaso Selections was closing the gaps in the business that were causing too much friction. Ontapleadgen helped out with revolutionising their branding, as well as implementing a custom CRM and innovative instant estimate software.
“The most aware and intelligent owners that I’ve worked with have admitted that the DIY route isn’t as fleshed out as it should be. Once they delegate that work to someone with the time and expertise to do it right, they start to see incredible results.”
The third mistake that business owners make far too often is choosing the cheaper route. Laslo notes that cutting corners or opting for budget solutions may seem like a cost-saving measure initially, but it often leads to missed opportunities, and ultimately results in greater expenses down the road.
“Lead generation isn’t just about quantity, it’s about finding leads that will actually make a strong impact. Going for the cheaper options may result in a flood of low-quality leads that waste time and resources rather than driving meaningful conversions,” Laslo said.
Many businesses often wait way too long to approach a lead. One study from MIT found that the odds of contacting a lead if called in 5 minutes versus 30 minutes drop 100 times, and the odds of qualifying a lead if called in 5 minutes versus 30 minutes drop 21 times.
Data from the Australian Bureau of Statistics shows that in the financial year of 2022-23, the number of businesses across the country grew by over 406,000, but more than 386,000 stopped trading.
The data also shows that almost 1000 businesses are closing every day on average across the country, proving just how crucial it is to gain practical, serviceable leads.
Laslo’s advice to business owners is simple, stating that they should start by finding someone who can assist with the more difficult lead generation and marketing tasks.
“My advice is to find someone that you can trust who understands your business. In my experience, it’s not only about finding the right leads, it’s also important to ensure that your brand has the correct systems in place to effectively manage customer expectations to the highest degree.
“That’s the ideal way to find the best opportunities and thrive in the Australian marketplace.”
