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Lead generation is a business process that helps marketing or sales teams capture high-quality leads that are more likely to convert into customers. The process includes finding potential leads, gauging their interest in a product or service, and nurturing them through their life cycle.
Marketing or sales teams may struggle with this process due to a lack of training, expertise, and resource bandwidth or technology inadequacy. In such scenarios, outsourcing lead generation to specialized organizations helps. These organizations have the requisite resources and technologies and years of expertise in generating high-quality leads which in-house marketing or sales teams may lack.
Here's what we'll cover:
- What are lead generation services?
- Common offerings of lead generation services?
- What type of client are you?
- Benefit of lead generation services
- Key considerations when selecting a lead generation service provider
What are lead generation services?
Lead generation services specialize in identifying, qualifying, and nurturing high-quality leads on the behalf of client organizations.
They help businesses generate more leads by creating or optimizing web pages for search engine optimization (SEO), running email marketing campaigns, cold-calling, and running other outreach activities. Once the leads are generated, the services provider passes on the lead details to the client for a commission or a fee.
Common offerings of lead generation services
Lead generation services help businesses identify leads through the following core offerings:
|Lead capture||Perform cold calls, follow up with event attendees, and analyze email campaign responses, content downloads, or social media channels to identify leads.|
|Contact discovery||Create a list of potential leads for the target market and identify the best channels to reach them.|
|Lead scoring and nurturing||Score leads based on quality, lead account size, prospect behavior, budget availability, etc. Nurture leads that are not ready to be transferred to a client.|
|Lead segmentation||Segment leads into categories and subcategories based on their interest, conversations, or implicit behaviors such as time spent on a page or products browsed.|
|Pipeline management||Track the quality and volume of leads coming in from multiple channels.|
What type of client are you?
There are two broad client categories that lead generation services cater to:
- B2B companies: Since Business-to-Business (B2B) products or services are usually complex, B2B leads require more nurturing before they can be passed over to sales. Therefore, B2B companies should check the lead nurturing methods the provider adopts. If there is a particular lead nurturing method that has worked for the company in the past, such as personalized emails or newsletters, they should see if the provider has expertise in the same.
- B2C companies: In the case of Business-to-Client (B2C) leads, targeting the right channel and using the right messaging are important for converting potential leads. Therefore, contact discovery and lead capture are the features to which B2C companies should pay special attention. They should also check with the provider about the channels used to gather data on leads.
Benefit of lead generation services
By now you must have understood the core offerings of lead generation services and their client types. Now let's look at the key area that will be positively impacted by these services:
- High-quality leads and shorter conversion timelines:The services filter all the available leads to identify the ones that are most desirable to a client organization. While this saves the client significant resources on capturing and then qualifying leads, it also means that every lead that is passed on to the client has a higher chance of making a purchase.
Key considerations when selecting a lead generation service provider
As the last step to selecting a lead generation services provider, here are some key considerations that need to be kept in mind:
- Identify lead generation bottlenecks: It is likely that a business may be facing challenges only in specific areas of lead generation such as lead capture or pipeline management and not throughout the lead generation cycle. Identifying the specific lead generation bottlenecks will help avoid the cost of outsourcing the entire lead generation cycle.
- Define lead qualification criteria: Onboarding a lead generation services provider without clearly defining the qualification criteria can result in capturing low-quality leads and loss of time and money. Therefore, it is important to communicate the desired qualification criteria with the provider to ensure optimum return on investment.
Note: The applications selected in this article are examples to show a feature in context and are not intended as endorsements or recommendations. They have been obtained from sources believed to be reliable at the time of publication.