Tired of playing hide-and-seek with leads?
Wondering how to turn unknown prospects into loyal customers?
Mad at missing hot leads due to ineffective time management?
Want to skip the blind dates and go straight to meaningful connections with clients?
Lead generation sorts out this mess for you!

 

What is Lead Generation?

Lead generation is the game where businesses play the detectives!

And no, it’s not about finding a needle in a haystack. It’s about finding users with whom you can do business. Finding and attracting potential customers into your sales pipeline is an art in itself. It’s about identifying prospects you can woo with your offerings through direct outreach or inbound marketing.

As Peter Drucker once said, “The aim of marketing is to know and understand the customers so well the product or service fits their needs and sells itself.” Long story short, it’s all about finding warm leads and getting into your audience’s heads while offering solutions they want and need at the right time. That’s what the lead generation process does—finding potential customers willing to nod along with your pitch. Thanks to high-quality lead generation, you can reach out to potential customers who will choose you because they believe in what you offer and who you are as a company.

‘Lead generation is a matchmaker for businesses and potential customers.’ 

Peter Adolfsen, CEO & Founder of LeadFighter

Two Types of Business Leads

Understanding what types of leads are GOOD for your business will help you properly target your audience and build effective sales strategies.

 

Marketing Qualified Leads (MQLs)

These leads have shown interest in your products or services through various channels. By building a score (aka the lead score) based on their interactions with your brand, they are classified as a lead by marketing (MQL). But they may not be ready to purchase yet. Let’s call these leads the indecisive ones. In any case, we recommend doing a final qualification of the lead’s interest. It helps you understand a lead’s potential and interest before handing it to sales. A business development representative or an external telemarketing agent can do this. When the lead “passes” that qualification call, it develops into an MQL and is handed over to a sales representative.

 

Sales Qualified Leads (SQLs) 

SQLs are the leads that the sales department has been in touch with (after MQL). SQLs are leads that the sales representatives have defined as having a high probability of revenue to chase. These leads are more mature and are further down the sales funnel. They should be registered as deals in your CRM sales pipeline and nurtured carefully by sales. This process should continue until these leads are won or lost cases.

 

How To Generate Leads

The global lead generation solution market is projected to reach US$9.6 billion by 2028, with a compound annual growth rate (CAGR) of 17.5%. 

According to The State of Marketing in 2024, conducted by HubSpot, lead generation ranks as a top priority for 50% of marketers when building their campaigns. Building brand awareness and boosting sales are standard marketing goals. However, according to marketers, lead generation eases their efforts in reaching these goals. Obviously, every business will eventually need a lead generation strategy to save time and earn money. But first, you need to understand how it works! 

 

#1 Collect and use visitor data.

Businesses use various strategies to identify potential customers. Some businesses have a direct approach to contacting prospects to qualify them. Sometimes, these prospects need a second call. Sometimes, they don’t need a call, and in the most ideal cases, these prospects are a deal at the first ring. Inbound marketing helps sales reps schedule the next round of calls at the most convenient time for the prospects. Other businesses follow an indirect method, such as creating captivating content. It can be informational blog posts to show their expertise and establish their authority in the industry. Once a lead shows interest, businesses collect their data through web forms, landing pages, newsletters, chatbots, or social media. Such an indirect approach enables businesses to nurture leads and outreach.

 

#2 “Get to work” for leads attention.

Once potential leads are identified, businesses use marketing tactics to encourage their interactions. These tactics can include anything from content marketing, social media advertising, and selling to email campaigns and search engine optimization. Goal-oriented businesses also act faster and make the first move before prospects. Using chatbots is always a smart way to interact with prospects. A chatbot pops up on a user’s screen, offering immediate assistance and enabling businesses to be present for users.

 

#3 Nurture Your leads. 

Businesses nurture leads by providing relevant information, resources, and offers. Such offerings guide leads through the sales funnel. This can involve personalized email campaigns, targeted advertising, or direct sales outreach. The desired outcome is for leads to turn into long-lasting customers. Once this is accomplished, continuous optimization and analysis help make your lead generation efforts more effective in the long run.

 

Lead Generation Practices 

Companies use lead generation to attract potential customers and boost sales by collecting data, targeting marketing efforts, and optimizing strategies. Inbound and outbound marketing are two distinct methods for engaging customers. Here are some popular techniques within each category.

 

Inbound Marketing Techniques

Inbound marketing is where attracting customers feels more like a quiet hunting strategy than a pushy sales pitch. These “hunting” techniques in inbound marketing are highly effective for lead generation because they focus on attracting potential customers organically. By organically, we mean creating valuable content and engaging experiences. Popular techniques:

 

• Content Marketing: Blog posts, videos, e-books, infographics.
• Search Engine Optimization: Improved rankings on search engine results pages.
• Social Media Platforms: Enhanced engagement with the target audience.
• Email Marketing: Personalized emails to subscribers opting for higher conversions.
• Webinars: Trials or learning resources to engage with interested audiences.
• Paid media: Paid promotions targeting specific behaviors in the group of interest.

Furthermore, inbound marketing allows for better targeting and personalization. It’s all about personalization, like tailoring a suit for your favorite client. Most companies craft their content tailored to specific demographics and buyer personas. This leads to higher-quality leads and better conversion rates, making inbound marketing a key component of modern lead-generation strategies.

 

Outbound Marketing Techniques

Unlike inbound strategies, which rely on attracting customers to come to you, outbound methods involve actively pursuing leads. This can be done through various channels, such as cold calling, direct mail, and SoMe. This proactive approach helps businesses to target specific demographics or industries, increasing the likelihood of reaching qualified leads. Moreover, outbound techniques can generate immediate results, quickly boosting sales pipelines.

 

• Cold Calling: Phone calls to offer products or services and gather market insights.
• Direct Mail: Sending marketing materials (brochures, flyers, catalogs, event invitations).
• TV and Radio: Commercials broadcasted via traditional media channels (TV and radio).
• Print Advertising: Advertisements in newspapers, magazines, and other print media.
• Display Ads: Online advertisements in the form of video ads on websites and socials.
• Sponsorships: Financial support for events or activities to increase brand awareness.
• Trade Shows: Hosting events to promote products or services directly to attendees.
• SoMe: Actively engaging with prospects through comments, shares, and conversations.

Inbound marketing focuses on building brand awareness and attracting organic traffic. On the other hand, outbound tactics offer a more direct and immediate impact on lead generation results. Inbound marketing makes customers come to you. In contrast, outbound marketing involves direct contact from your end toward customers.

Your business goals should determine whether inbound or outbound marketing strategies work best for you, your resources, and your target audience. Nevertheless, successful companies don’t choose between one and the other; they balance both. Whether a startup or a well-established business, you must take the best of both worlds in the long run. Select the most effective techniques in the industry and apply both inbound and outbound marketing on an optimal ratio.

Means for Lead Generation

Every click counts, so using the right tools can literally make all the difference. In the world of lead generation, having access to the right tools can streamline your efforts, boost your productivity, and ultimately drive more leads to your doorstep. These three tools can help you take your lead generation game to the next level.

 

Lead scoring—identifying prospects.

Lead scoring provides valuable insights into understanding your target audience and tracking their interests. It goes beyond organizing leads systematically and listing them based on scores. Leads qualify based on their interactions with your marketing efforts. By pinpointing high-potential leads and identifying customer preferences, lead scoring helps you build more precise targeting in marketing campaigns.

 

Lead magnet—using offers as hooks.

Free e-books, webinars, and whitepapers are considered lead magnets. These types of offerings attract visitors by offering free things. However, they must provide their contact details to access them. Lead magnets serve as a means of gathering leads for conversion.

 

Advertising—show your business online.

Advertising services like LinkedIn Ads, Facebook Ads, and Google Ads are the golden platforms for businesses. Ads show your products and services to targeted audiences, making them practical for lead generation. These ads help you reach specific audiences internationally in the competitive business world. Moreover, in Facebook and LinkedIn Lead Ads, you can collect leads directly through the ad and seamlessly transfer them to your CRM system.

 

Start Generating Warm Leads Now

If you’re already becoming a businessperson in 2024, ask for the lead gen specialist to help you make the deal. An effective lead generation specialist supports your efforts to guide prospects through buying. Prioritizing lead generation in your marketing and sales efforts will increase your chances of hitting the perfect moment. We mean the moment prospects are eager to learn more, maximizing your conversion opportunities.

A solid lead generation strategy can pave the way for converting strangers to fans, fans to customers, and customers to brand advocates. It all starts with finding the right moment and users to reach out to.