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What’s Working in Lead Generation

To better understand what lead generation strategies and tactics are working, RainToday asked 731 professional services firms, “In the next two years, how do you expect your lead generation efforts to change?” An overwhelming 84% said that they were planning on significantly or moderately increasing their lead generation efforts.

Here are five of the most important lead generation insights gained from their analysis of the data:

1. Brand Matters
   When respondents were asked if their company was well-known among the majority of companies in their target market, only 30% answered that they were very well-known. These respondents were significantly more likely than the “not very well known” companies to say they were “Good” or “Excellent” at generating leads for their services. Recognition and reputation do matter when it comes to lead generation. If you are well known, whatever lead generation tactics you employ are likely to work better.
2. Know Your Target Market
   Targeting and segmentation are the first steps to any lead generation or marketing effort, and must be done with the utmost thought and rigor. It seems intuitive – to be successful in marketing and lead generation, you need to know who your best potential clients are. Yet, only 30% of respondents indicated that they have the actual names of the decision makers in the companies they are targeting.
3. 3. Cold Calling Works
   Of all the possible tactics, cold calling rose to the top as the most effective to generate quality leads, after referrals. When cold calls were used to set a meeting to introduce the firm and learn about the prospect, far greater success was achieved than when these calls were used to go into a detailed sales pitch. Keys to success include performing research before the call, offering something of value, listening well, keeping good notes, and following up.
4. 4. Integrate Tactics
   There is no one silver bullet tactic. While respondents indicated that cold calling to generate leads rises to the top of tactics, it is much more effective when combined with other tactics.
   Lead generation is a multi-step process. It takes ongoing touches to engage prospects and these touches need to be well planned, with a consistent message, at the right frequency, with the right mix of offers.
5. 5. Nurture the Leads You Have
   Respondents indicated that only 25% of leads are sales-ready, 50% require further nurturing and 25% are disqualified. Many companies let 50% of the leads they’ve worked so hard to generate drop out of their pipeline. These leads could cost a firm as much as 2/3 of possible new business opportunities. Lead nurturing—using email, phone, direct mail and events—allows you to stay top of mind with prospects that will eventually look to solve their problems with someone’s help. Nurturing gets you to the top of their go-to list.

Related content:

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3. Email Leads in Lead Generation and Conversion

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