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Effective lead generation is crucial to any company’s success. You won’t be able to expand your sales pipeline or attract new customers without it.
You’ll need a well-defined approach that incorporates numerous lead generation tactics to consistently generate quality leads. There’s a significant possibility you’ll squander time and money on digital marketing initiatives that deliver poor returns if you don’t follow the right processes.
Knowing what those lead generation processes are, how to implement them correctly, and even finding the time and staff to do so are the biggest reasons businesses stunt their own growth by failing to capitalize on the potential of effective lead generation. Which is while working with a full-service lead generation agency like Pearl Lemon Leads is one of the smartest marketing moves any business can make.
What is Lead Generation?
Put in the most basic terms, the practice of gathering contact information from potential clients who are interested in your products and services is how lead generation is defined in marketing. But it’s far more complicated than that.
Far too often, lead generation is confused with demand generation, but the two are not the same. Demand generation’s main purpose is to raise brand recognition and pique interest in your business until a potential consumer is ready to engage with you and become a lead. It’s the things you do to increase traffic to your website, or your social media pages.
But website traffic is not all made up of leads. In fact, fewer than 3% of website visitors convert on a first visit.
Lead generation turns those casual visitors into interested prospects. Lead nurturing turns them into hot prospects. An effective sales pitch turns them into customers. And the good news is that when working with a full service lead generation agency like Pearl Lemon Leads, we can help you with it all.
New technology, changing customer preferences, shifting economic landscapes, and a slew of other variables compel marketers to look for new and inventive ways to generate leads on a regular basis.
This can be a lengthy, complex process requiring various touchpoints and multiple members of your sales and marketing teams, as well as a lot of different skills and competencies, depending on the product or service you sell.
Some large companies have the bandwidth needed to do all this. Many don’t, and certainly lead generation is a huge challenge for SMBs. Because it is so time-consuming and resource intensive, they either waste what time and money they do have on ineffective lead gen efforts or don’t make any at all. And so they stagnate, struggle to stay afloat, and then bemoan their failure to grow.
Don’t become that business. Work on effective lead generation that gets results with Pearl Lemon Leads instead.
One of the most efficient strategies to develop your business is to have a solid, streamlined lead generation strategy. You can be confident that you will continue to produce new revenue month – to – month if you have a continuous flow of qualified leads. That revenue will only rise as you refine your procedure and incrementally enhance your conversion rate.
It’s a virtuous cycle with a lot of power. More qualified leads result from optimizing your lead generation channels and techniques. Improving your lead conversion rates increases revenue velocity. Both of these allow you to invest in further optimization, allowing you to improve your lead generation outcomes even further. And working with Pearl Lemon Leads offers you all of this and much more.
How Effective Lead Generation Works
Inbound and outbound lead generation are the two basic types of lead generation.
Prospects are attracted by inbound lead generation because it provides them with valuable content that solves their problems.
Some of your prospects will give you their contact data in exchange for something extra if you do it right. This can include blogs, instructional videos, white papers, ebooks, research papers, and many other types of content.
For example, you could add pop-up form functionality to your website to advertise a relevant case study. You can nurture the lead once you get their contact information.
Outbound lead generation activities, on the other hand, use outreach to find prospects who fit the brand’s ideal customer profile (ICP). Email, phone, social media, and a variety of other methods are the most commonly utilized in effective outbound lead generation.
Depending on your sector, product, or target demographic, either strategy can be successful. When you make use of both as part of a consistent, targeted lead generation strategy, the ROI is even better.
Understanding Lead Stages
To be successful, a lead generation campaign needs to do a lot more than create a list of names and emails. Once captured, most leads will need to be carefully nurtured according to the stage of the buying process they are in.
To do that, you need to understand those stages, or at least your lead generation company does.
Because not all leads are created equal, it’s critical to classify them according to their quality and level of declared interest. Each lead stage corresponds to a different step of the buyer’s journey, and understanding which stage a lead is in allows you to engage with them more effectively.
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Marketing Qualified Leads
A marketing qualified lead (MQL) is a person who has shown interest in your marketing efforts but isn’t ready to engage with your sales team just yet. A person might, for example, click a call to action (CTA) in a social media post to download a free downloaded ebook. The ad directs users to a landing page where they may download the file in exchange for their email address.
The prospect’s download of the lead magnet indicates that they are in the awareness stage and are interested in solving a problem or accomplishing a goal.
However, before sending them to a salesman, you should thoroughly qualify them.
Sales Qualified Leads
A sales qualified lead (SQL) is a consumer that has demonstrated a strong desire to purchase your product or service. At this point, the prospect might make an informed choice regarding whether your product will assist them in achieving their objectives.
They’ve shown interest in your marketing efforts to the degree where you think they’d like to buy from you. You should now introduce them to a sales representative who can answer their queries and assist them in making their final decision.
There are a variety of reasons why you would consider a lead unqualified.
Perhaps they lack the requisite budget, it is not yet a priority, or they prefer things that you do not provide. Or perhaps they belong to a group or sector that you want to avoid.
In any event, you don’t want your salespeople to waste time on these leads.
Sales Recycled Leads
A sales recycled lead (SRL) is a prospect that the sales team returns to marketing because they are not yet ready to buy. The lead can then be re-engaged with marketing so that it does not become cold and will purchase from you when they are ready.
Even if the leads are highly qualified, not all of them will convert to buyers the first time around the sales cycle. A lead might be put on hold for a variety of reasons, and having a system in place to retarget them at the correct time can result in more sales down the line.
Most standard lead generation agencies stop at the initial lead generation part. But what use are leads to you if you don’t have the time or resources for lead qualification and lead nurturing? Pearl Lemon Leads can take those basic leads and turn them into hot leads that are ready to close. And, if you really need us to, we can provide the outsourced sales team to do that as well.
The B2B Lead Generation Difference
When evaluating how to conduct efficient lead generation, B2B marketers need to take into account a few distinct elements.
To begin with, the sales cycle for B2B lead generation is lengthier than for B2C lead generation. Because of the number of stakeholders and the amount of money at risk, the sales process is significantly more complicated. Multiple approvals, meetings, negotiations, and other steps may be involved in these processes.
B2B lead generation is even more resource intensive, and time-consuming than B2C lead generation. Many businesses may have an in house sales team, but their time and talents are best focused on their real skill: closing deals. Spending hours, days and weeks chasing leads is not a good use of their time and tends to be very frustrating for them. Which goes a long way to explaining the high turnover in many sales teams.
Being fed a stream of qualified leads to close is what most B2B sales teams dream of. Working with a lead generation specialist like Pearl Lemon Leads means you can make those dreams come true.
To ensure that B2B leads are generated and nurtured as effectively as possible, we make use of a wide variety of lead generation strategies that will get results for your business specifically, based on your unique products or services, your brand and your value propositions.
This means conducting the kind of bespoke lead generation campaigns that most lead generation companies just don’t bother with. But we do, because we know that the best possible results can only be achieved that way.
Lead Generation Expert and Founder of Pearl Lemon Leads
Hey! Thanks for stopping by! If it’s your first time here, welcome! You’ve landed on our site because you need a steady stream of qualified leads to GROW your business.
Speak to you soon! Deepak.
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