What is Lead Generation?
Lead generation is the process of generating a group of prospective buyers who may be interested in your product with the goal of turning them into paying customers. A lead generation strategy involves researching companies and consumers who may be interested in your product, and determining what would entice them to make a purchase.
Without lead generation, a sales team wouldn’t have new prospects to connect with, and overall sales and revenue would become stagnant and eventually decline.
Why is Lead Generation Important?
Lead generation shouldn’t be viewed as a single goal to achieve and then cross off a list. It should be an essential, ongoing component of any sales cadence. Without it, growth isn’t possible.
Finding new leads is crucial for expanding your customer base and reaching new audiences. Conducting research for lead generation allows you to connect with untapped markets and determine who is an exact fit for your product.
You’ll also be able to start forming relationships during the lead generation process, which is important. Touching base and introducing yourself and your product in the context of the lead’s business needs will showcase that you know who they are, what type of work they do, and what creative solutions you can help provide. This is essential for converting them into a customer.
Qualified vs. Unqualified Leads
There are two main types of leads you’ll encounter: qualified and unqualified.
An unqualified lead has heard about your company or product and decided they aren’t interested. They may or may not have had previous contact with a sales rep.
A qualified lead has previously shown interest in your product and is interested in learning more so they can determine whether or not to make a purchase.
Being able to determine types of leads is important when conducting lead generation. Sales reps should be prepared to interact with both and communicate appropriately. Be prepared to deal with sales objections, and have personalized sales pitches ready for when a lead begins to show real interest.
How to Find More Qualified Leads
Whether you’re an account executive tasked with drumming up more leads on your own or a founder at a startup wearing many hats, finding the right leads can be a time-consuming and arduous process. To save time and be more efficient, you can look to leverage automated lead gen tools to help on your quest. Automated prospecting tools like Vidyard Prospector act as your virtual sales assistant. Not only will it help you build a targeted lead list in your desired territory, but it will also generate hyper-personalized emails with the help of AI.
Spend less time hunting leads and more time hitting quota with Vidyard Prospector. Learn More Tips for Effective Lead Generation
You can use the following tips to boost your lead generation strategy:
- Work closely with your marketing team. Both sales and marketing teams have similar goals when it comes to lead generation. You’re both trying to attract qualified leads, so make sure your external communication aligns and is in sync. Effective communication between teams is key.
- Personalize outreach. The best way to make a good, lasting impression on a lead is to make it personal. Stand out from your competition and make sure your message is memorable.
- Use direct, actionable language. Lazy copy won’t go far. Reusing the same messaging repeatedly will get stale and boring. Make sure your conversations are direct and to the point, and follow up with actionable language to keep the process moving.
- Write effective web copy. One of the best ways to attract leads organically is through effective web copy. A marketing team typically heads up this project but will often ask a sales team for advice and input on what to showcase. Make sure unique selling points are highlighted, and use on-page optimizations to improve your site’s ranking.
- Collect customer testimonials. Using testimonials from current customers will showcase your product’s impact and prove that it’s worth the investment to new leads.