Lead generation is a business activity where a company initiates one-way, one-to-many communication to find promising prospects. Lead generation (aka prospecting) is aimed at getting results in the form of a steady stream of qualified leads. In other words, lead generation is a way for B2B, B2C and B2B2C companies to create awareness of their products/services and start relationships.
Effective lead generation is a complex activity:
- The company must research what potential customers want from a supplier.
- The company must try to get in front of identified potential customers at the moment when these prospects start to explore solutions that the company could provide. Once they start contacting suppliers, it is too late in the process to get a competitive edge.
- A strategy has to be formulated to make lead generation effective – inbound marketing lead generation is the preferred tactic.
Once leads are generated, they must be qualified and prioritized according to set criteria such as ICPs. Ideal Customer Profiles (ICPs) are defined within the company for targeting sales efforts. An ICP is normally based on demographics (age, gender, education level, occupation, marital status, and where they live), likes / dislikes (hobbies, culture & entertainment, sports, travel, etc.), and actionable insights (channels to reach the prospect, willingness to be informed about new products/services, types of promotion the prospect likes/hates, etc.). For B2B, parameters can also include the size of the customer, its turnover, number of employees, growth rate, location, the industry it is active in, etc.
Based on the ICP, a prospect can be identified based on the need of the prospect, the budget that the prospect is willing to spend, the authority of the prospect to close a sales deal, and the best timing to approach the prospect.
Some companies have been playing with the idea of using lead forensics to help with their lead generation. It basically entails IP tracking, which has come under fire due to stringent privacy laws. The reason why companies look at it is, that lead generation is a labor-intensive business activity that requires specific skills.
That’s why outsourcing is a winning proposition, since:
- Companies do not need their sales or marketing people to spend substantial time on lead generation;
- Companies do not have to hire dedicated staff skilled in lead generation;
- Companies do not have to (re)train existing staff in lead generation;
- Companies will get qualified leads quicker;
- Companies can measure results easier and quicker, speeding up the sales process.
Prosperio.io can help you with your lead generation, since we know how to identify and reach the right people at the right time. As an outsourced lead generation company, we identify qualified leads that have a high chance to be converted into paying customers.