Any person who has expressed an interest in a company’s product or service but is not yet qualified to purchase. They are potential consumers with whom a company has not yet done business but expects to do so in the future. Each lead is made of information that you have on them. A basic lead, for example, would include a name, contact information, and the job title/name/location of the company.
Obtaining sales leads is not an easy task. One of the most critical factors that complicate matters is that businesses are frequently unaware of the type of sales lead and continue to invest their energy in it. They know how to deal with it or use it to their advantage, so it is essential to know about different types of sales leads. Types of leads are as under
This is a type of lead who has expressed an interest in your company. Perhaps they completed the demo provided by your company, or they contacted you directly to learn more.
These types of leads require immediate attention because they may lose interest if you take too long to respond. They might even be contacting your competitors to find the best solutions for them. As a result, you should get them before they are gone.
Cold or Outbound Leads
A cold or Outbound lead is one who hasn’t expressed any interest in your solution but perfectly fits your ideal customer profile. These leads are typically generated by lead generation software or, in some cases, by your research.
They are on your prospect list, regardless of how they got there, and they represent potential sales. They are the common type of lead; you must master the art of communicating with them. Cold or inbound leads are regarded as one of the most difficult to convert into prospects.
Warm leads are the ones who expressed an interest in you on their own and found you on their own. These are the leads who happen to tread blogs, watch your videos, or even know you from a previous conversation with someone else.
Information Qualified Leads
This is the type of lead in which clients contact the company at a random base while searching for information. To obtain more information, such leads frequently share their contact information. Following that, marketing teams contact them and share all the relevant and necessary information that may motivate them to close the particular deal.
Marketing Qualified Leads
Marketing qualified lead is that lead in which the marketing team believes is more likely to convert into a customer than others. These types of leads are actively looking for a solution that can assist them.
Sales Qualified Leads
With the efforts and hard work of the sales, a sales qualified lead reaches the end stage of the sales funnel. To get to the final stage, you must take a right first step and prospect. Therefore, you should contact them as soon as possible because these leads are fully qualified.
Now we will discuss what lead generation is and how does it work.
Lead generation is the process of attracting prospects and converting them into customers interested in your company’s products or services. Lead generation is an important part of any marketing strategy. Leads are essential to the success of any business. According to available data, more than 85 per cent of B2B marketers consider it a critical marketing objective. However, generating leads is not an easy task.
Lead generation refers to the people who get in touch with your firm and determine whether they will buy your service or not. Lead generation is not about the conversion of leads. With the continuous evolution in technology, lead generation marketing is also evolving. As a result of digitalization, new techniques and strategies are coming into force.
Lead generation initiatives have become more effective as sales and marketing technology has advanced. You can now automate your entire lead generation process with the help of powerful lead generation tools and can tailor the lead generation process,
Types of lead generation
There are two types of lead generation, i.e. inbound and outbound lead generation. The obvious question regarding lead generation is whether to do inbound or outbound, so what is inbound and outbound lead generation? Let’s discuss the below one by one.
Inbound Lead generation
Inbound lead generation is a strategy for attracting customers to your business. So it is when a company distributes targeted content to appeal to its ideal customer. This content is intended to compel the prospect to take action, thereby initiating a two-way relationship that will eventually result in a sale.
It has grown in popularity in the last decade as a B2B lead generation technique because it corresponds to how business customers prefer to buy. This is because prospects prefer to conduct their own research into products and services before engaging with salespeople. The prospect controls how and when they interact with the selling company with inbound lead generation.
Top Strategies for Generating Inbound Leads
When it comes to getting people to visit your website, you don’t want just anyone; you want many people who fit your buyer personas.
The inbound lead generation strategies listed below will help you generate a steady stream of visitors who can then be converted into leads, customers, and finally promoters.
Your inbound lead generation strategy should include content marketing. Providing prospects with valuable content that educates informs, and delights them will help to solidify your company’s image.
Examples of content marketing include:-
- Case studies
Because the Internet is so crowded, your content must stand out to be noticed. Unfortunately, there’s a lot of filler out there, so make sure your content marketing adds real value, takes a stand, or solves a real problem for your audience.
Many businesses associate SEO with paid advertising platforms such as Google AdWords and Facebook Ads. To refresh your memory, SEO is the process of generating free organic web traffic to your website. SEO is concerned with optimizing your website’s structure and content, as well as obtaining relevant external links to your website. Search engines will identify and index your website based on its optimized website and content, allowing it to appear in search engine ranking pages (SERPs) for free.
Social media marketing
Because success in content marketing consists of 20% creating quality content and 80% effectively promoting it, social media marketing is critical for attracting new or returning customers to your business and the unique information you generate on your website. Social media groups dedicated to your industry, in particular, can be an excellent place to distribute content to personas and influencers who will benefit from it.
To make the most of your time, conduct research to determine which social media channels your buyer persona uses.
Use LinkedIn and Reedit to communicate with them, drive followers to your website, and begin the lead generation process if they are more active on those platforms.
All inbound lead generation techniques should produce the same result: the lead provides their email address to be added to your email list or database. Following that, you can use email marketing to continue the inbound lead generation process.
Email marketing automation streamlines and improves the process’s efficiency and effectiveness. For example, leads can be classified, custom email sequences can be created based on specific actions and triggers, and the entire inbound lead generation process can be automated.
Pay-per-click (PPC) is a method of internet marketing in which advertisers are charged a fee each time one of their advertisements is clicked. It’s essentially a method of purchasing website traffic rather than attempting to “earn” it organically.
Search engine advertising is the most common type of PPC. Marketers can bid on ad placement in a search engine’s sponsored links when a customer searches for a keyword related to their company’s offering. So, if we bid on the keyword “PPC software,” our ad may appear near the top of the Google results page.
Outbound lead generation
Outbound lead generation is the process of directing your marketing or sales efforts toward activities that necessitate approaching people who fit your ideal customer profile.
It is the polar opposite of inbound strategies such as content marketing, which rely on customers approaching your company.
Top Strategies for Generating Outbound Leads
Cold emailing is one of the most effective outbound lead generation strategies because it can be automated and sent at specific times of day when your prospects are more likely to respond.
Outbound email campaigns allow you to reach out to prospects without having to wait for back-and-forth responses.
If you thought cold calling was extinct, think again. Cold calling is the process of contacting potential customers who are unfamiliar with your company but would be interested in learning more about its products and services if they were contacted with personalized information.
If you can get past the gatekeeper and call during regular business hours, cold calling can be extremely effective for B2B lead generation.
Direct mail is a popular type of outbound lead generation campaign marketing that is still very much alive.
Direct mail campaigns can be challenging to master on their own and perform best when combined with other outbound lead generation strategies.
They can, however, be extremely effective when done correctly due to the level of personalization and creativity that can be incorporated.
Social media outreach
Using social media to connect with leads and prospects can benefit nearly any sales organization.
LinkedIn, in particular, will be an extremely effective platform for outbound B2B and sales teams.
After all, there’s a reason LinkedIn is 277 per cent more effective than other social media platforms for lead generation.
To stand out among the endless noise on LinkedIn, you’ll need to change your approach.
One method for successfully generating outbound leads is to connect with prospects on LinkedIn and send them personalized messages.
As a small business owner, you’re always looking for ways to improve your bottom line. The most important thing to do to increase your ROI is to generate new leads. This way, you’ll be able to generate revenue not only from existing customers but also from a steady stream of new ones.