Do you find yourself wasting time and energy on dead-end leads? It's time to streamline your sales...
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The latest survey and studies in 2023 show that the average global lead conversion rate is 3.68%. Don’t you think this number is quite low? Yes, it is, and it’s worrisome for most B2B marketers.
In fact, in this digital era of information overload, finding potential customers can sometimes feel like attempting to locate a drop in the ocean. That’s where sales leads come in – the Holy Grail in the world of marketing and sales. So:
What’s A Sales Lead?
Sales Leads or Sales Qualified Leads (SQLs) are at the bottom of the sales funnel and are considered closer to making a purchase. They have engaged with your brand at a deeper level – by requesting a product demo or pricing information or directly communicating with your sales team.
However, SQLs are not to be confused with Marketing Qualified Leads (MQLs) – who may have shown some interest but aren't quite ready to buy.
Neither can you compare them with Sales Accepted Leads (SALs) – that your sales team has merely acknowledged.
No, sales leads are different. They are the A-listers of your lead pool! Now, let’s prove our claim with real data:
According to research, sales leads convert faster and contribute to up to 47% of business purchases. Plus, companies that effectively nurture and convert SQLs enjoy an average 20% increase in sales opportunities.
So, how do you generate the maximum SQLs for your business? To answer this question, we'll introduce 12 unique strategies that will equip you to identify many SQLs easily.
12 Smart Strategies to Generate Sales Leads
Generating sales leads isn't a fixed procedure. It demands a flexible and adaptable mindset to align with evolving customer behaviors and preferences.
Having said that, let’s get started with our tips:
1. Strategize Your Cold Calls
It's not uncommon for your Sales Development Representatives (SDRs) to harbor a strong aversion to the idea of reaching out to potential leads through cold calls. Why?
As per studies, over 50% of sales professionals give up too easily when cold calling and 48% are afraid to pick up the phone. It’s primarily due to such calls' perceived invasive and mechanized nature. It’s also because of the probability of facing discouraging rejections from prospects.
Now, why do cold calls fail? It’s because of ineffective and repetitive lines in those crucial initial moments. To ensure success, your introduction MUST showcase confidence, a background study, and a hint to seek permission.
So, let’s check out an example of a cold call script that might make a positive impact:
- SDR: "Hello, [Marketing Head's First Name], this is [Your First Name] from [Your Company Name]. I understand that our outreach efforts can sometimes be incessant, and I appreciate your time. May I briefly explain the purpose behind our call?"
– presents a courteous approach, asking for permission.
- Marketing Head: "Go ahead."
- SDR: "I recently found a compelling industry report highlighting some remarkable trends. Additionally, I noticed that your team is actively expanding its marketing department. Given these developments, I believe our [Your Solution] can offer valuable insights."
— showcases deep background knowledge
- Marketing Head: "Tell me more."
– demonstrates the interest of the prospect.
- SDR: "Fantastic! Let me share an overview of our offering that'll take only a few minutes. We can explore it further if you feel it aligns with your requirements. If not, please feel free to let me know, and I'll respect your decision. Does that sound okay?"
– shows a gradual approach without rushing – demanding minimum efforts from the prospect.
- Marketing Head: "Sounds good."
The above approach combines respect, relevance, and courtesy. Hence, it ensures your cold call will more likely engage the recipient in a meaningful conversation.
Pro Tip: It can happen that the above approach does not deliver the desired outcomes. You can switch to a short and targeted approach in such a case. Here’s an example:
"Hello, [First Name], I know you feel like I am calling from nowhere. However, I want to assure you that I value your time. To cut it short, I'm reaching out since..."
2. Formulate Custom Cold Emails
Here’s a positive fact about cold emails: Personalized email messages can generate a median ROI of 122%.
Yes, in a world dominated by automation, incorporating personalization into your outreach is critical – because it conveys authenticity.
Hence, initiate contact through customized emails – to resonate with the recipient's specific pain points and needs.
To add to this, here are some more pointers – to ensure your emails get more open rates, better response rates, and fewer follow-ups:
- Personalized Subject Line: Kick off with a subject line tailored to the recipient – grabbing their attention right from the start.
- Brief and Personalized Message: Write a customized but concise message, ensuring the recipient feels valued and engaged.
- Offering Value: Give something of value to the prospect, demonstrating your communication is not just a generic outreach.
- Minimal Input Required: Emphasize that minimal effort will be needed from the prospect's side. It makes your solution seem convenient and appealing.
- Non-Pushy Call to Action (CTA): Use an assertive but not pushy CTA, allowing the recipient to respond at their own pace.
Pro Tip: To achieve successful lead generation, you MUST do more than just ask a prospect to participate in a Google Meet to understand their business. In fact, you can go for the "I.R.E.A.C.H” approach in your CTAs – which stands for "Irresistible Request Elevating Action for Customer Hooks."
In short, I.R.E.A.C.H. represents a CTA so enticing and captivating that it elevates a prospect's interest and prompts them to take action.
However, while using the above elements, remember that quality should always precede quantity. It might be time to reduce volume if you reach out to 200+ leads/week/ SDR. Instead, focus on crafting cold emails that resonate with your target audience.
Now, let’s check out an example of a simple cold email template you can use:
|Personalized Subject Line:
|Get Your Required Financial Insights with [Your Company Name]
|Dear [CFO's First Name],
|A Brief, Researched, and Personalized Message that Offers Value:
[Your Company Name] specializes in empowering FinTech innovators with cutting-edge data solutions. Our platform simplifies financial analytics, offering real-time insights at your fingertips.
|A Request for a Meeting that Requires Minimal Effort from the Prospect
|We've designed our solution to be effortless on your end. A brief, 15-minute call is all we need to demonstrate how our platform can simplify your data analytics processes and provide valuable insights for your FinTech strategy.
Interested in effortless financial insights? Reply with your preferred date and time for a quick call next week.
[Let's elevate your data analytics]
[Your Full Name]
[Your Company Name]
[Your Email Address]
[Your Phone Number]
NOTE: Steer clear of sending cold emails over the weekends. Weekends typically see lower email engagement rates.
Moreover, it's advisable to proactively prepare your email address for cold outreach to avoid your messages being flagged as spam by recipients.
3. Leverage Paid Advertising
Our experts at Revnew swear by paid advertising, such as pay-per-click (PPC) campaigns on platforms like Google Ads and social media. They are capable of reaching a targeted audience.
These ads direct traffic to your landing pages. In fact, businesses earn $2 in income for every $1 they spend on Google Ads.
However, to maximize results, experiment with A/B testing to fine-tune your ad copy and targeting for optimal performance.
4. Use Lead Scoring
Lead scoring enables you to objectively identify SQLs based on specific criteria.
Let’s say you're managing potential leads for your software company. Some have visited your website, while others downloaded a product guide or requested a demo. Lead scoring assigns scores based on their actions.
For instance, requesting a demo gets a high score, while subscribing to your newsletter gets a lower one.
This way, lead scoring helps you identify the most interested leads (SQLs) objectively, allowing you to focus your sales efforts efficiently.
5. Utilize Sales Enablement Tools
Did you know?
Sales reps spend just 33% of their time actively selling, while the rest goes into administrative tasks.
That’s a huge waste of resources! In this case, sales enablement tools can help reclaim valuable selling time. How? By streamlining processes and providing quick access to relevant content and data.
They also empower your sales team with the required resources and information – to engage effectively with potential leads and convert them into customers.
6. Embrace Dark Social
Forget the traditional methods; the era of dark social is here to transform how you generate SQLs. Dark social involves sharing content or mentioning brands on private social media channels – direct messaging, email, private groups, and more.
In the past, the marketing funnel was a straightforward journey from awareness to intent. But with the rise of dark social, potential SQLs learn about your brand from all corners of the internet. They're not following a linear path, so neither should you.
Therefore, today, building a community on social media is the name of the game. It's not about monologues; it's about meaningful dialogues:
- Engage with your audience, answer questions, and foster a sense of belonging.
- Need software advice? Just drop a question on Reddit, ping your Slack community, or ask your Facebook group.
- Recognize that people talk about your brand in places you can't always see. This dark social chatter holds valuable insights.
- Use social listening tools to track mentions and join conversations when it's relevant. Responding to mentions can lead to connections and potential SQLs.
- Measure success by tracking Qualified Meetings Held, Qualified Pipeline, and Closed Deals. Align your marketing efforts with revenue goals to ensure you're chasing the right numbers.
- As prospects navigate the dark social landscape, make it effortless for them to connect with your sales team. Streamline the process for scheduling demos or consultations.
7. Use Lead Generation Tools
For effective SQL generation,use tools like Builtwith and LinkedIn. We at Revnew are a fan of these tools.
Picture this scenario: You're a sales professional seeking connections with businesses actively seeking your services. In this case, BuiltWith can be extremely handy.
It equips you with real-time insights into the technologies and tools these companies currently employ on their websites. This data becomes the linchpin for crafting a pitch that speaks directly to their unique requirements.
For instance, let's say your forte is a sophisticated e-commerce solution. Using BuiltWith, you discover a potential client's website lacks essential e-commerce functionalities. Now, you can share a targeted message:
"I've noticed your website is missing [specific e-commerce feature], a potential game-changer for boosting online sales. Our solution specializes in precisely that aspect, and I'd be delighted to explore how it can benefit your business."
Paid job posting platforms, particularly LinkedIn, serve as the jackpot for lead generation.
Here's a strategic approach you can employ:
Let’s say you're in the business of offering HR software solutions. On LinkedIn, you can sift through job postings to identify companies actively recruiting for HR-related roles.
These organizations are inherently seeking solutions to streamline their HR processes. Hence, they are the ideal candidates for your services.
For instance, suppose you spot a company advertising job openings for multiple HR positions:
- You can initiate contact with a tailored message acknowledging their HR expansion plans.
- Moreover, you can emphasize how your software can simplify their hiring and management processes.
This approach underscores your attentiveness to their specific needs and increases the chances of generating your desired leads.
8. Build Networking Skills
Industry events, conferences, and trade shows are hotbeds for networking opportunities. You get to meet people who share your industry interests and possibly your target audience.
For instance, 85% of professionals say they build stronger, more meaningful business relationships during in-person events.
In addition, online forums, groups, and communities are where your target audience often hangs out. You can leverage such virtual platforms to share insights and build your brand’s authority.
9. Create Referral Programs
Your satisfied customers can become your most effective advocates. Encourage them to refer others to your business in exchange for incentives or discounts.
Again, you can partner with businesses that complement yours. Cross-promote each other's products or services to expand your reach.
An example? Think about how Airbnb partners with airlines for mutual promotions. It's about leveraging each other's customer base for growth.
10. Embed Chatbots and Live Chat
What are chatbots? They engage with your visitors in real time, helping with queries and guiding them through the process. But here's the catch — they also collect contact information discreetly.
On the other hand, live chat is like having your customer support team right there, 24/7. It's immediate, personal, and an excellent way to answer questions and gather lead details in real-time.
11. Leverage CRM Software
You already know about Customer Relationship Management platforms. They are extremely beneficial in generating sales leads. Here’s why:
- Keep Your Leads in Check: To succeed in sales, you need an up-to-date database of potential customers. CRM software does just that. It helps you organize and manage your leads effectively. No more drowning in spreadsheets or sticky notes!
- Track Interactions: CRM tracks every interaction you have with your leads. It's all recorded from that first email to the last follow-up call. You'll never miss a beat; always know where you stand with each lead.
- Automate Follow-Ups: Instead of manually sending follow-up emails or setting reminders, CRM can do it for you. It's akin to having a virtual assistant that sends the right message at the right time.
12. Find a Reliable Lead Generation Partner
Opting for sales outsourcing means entrusting your sales lead generation tasks to a specialized agency. This approach benefits you across the board. However, it's especially crucial if you:
- Run a lean sales team
- Don’t possess the necessary resources
- Aim to empower your team to concentrate on nurturing and closing deals
When in search of the right sales outsourcing partner, keep these key considerations in mind:
- A Well-Defined Outbound Process: To ensure your outreach efforts are strategic and efficient.
- Positive Customer Testimonials: To gauge the reputation and reliability of the outsourcing agency.
- Proven Expertise with Case Studies: To check the agency's proficiency in delivering tangible results.
- Diverse Team of Sales Professionals: To understand if the partner has SDRs, Business Development Representatives (BDRs), and Account Executives (AEs) - to guarantee a comprehensive coverage of your sales needs.
Choosing a reliable lead generation agency will not only provide you with these attributes but will also empower your team to focus on sealing deals. Ultimately, you’ll enhance your sales effectiveness and overall performance.
Success often arises from a mix of strategies to generate sales leads. Hence, find the right balance and select the best approaches for your firm. Also, invest enough time to continuously refine your framework as per changing market dynamics.
As you embark on your journey to generate SQLs, remember that you're not alone. If you need assistance or have questions, feel free to reach out to our team at Revnew. We're here to help you make those connections that matter most.