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Lead Generation: Everything You Need to Know

Lead Generation: Everything You Need to Know

To put it simply, Lead generation is the steps that you take to identify and then pursue potential customers to buy a product or service. When the revenue operations team is given leads that are finely tuned to fit the customer persona of a company, it is easier for them to pique the customers' interest and ultimately complete a sale. This could be described as following a cold lead versus following a warm lead. When sales teams are given B2B data they are able to prioritize their sales thus let

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Mateo Bilbao

scalestack

Lead Generation: Everything You Need to Know

Information about the writer

Sales & Marketing head at Scalestack

To put it simply, Lead generation is the steps that you take to identify and then pursue potential customers to buy a product or service. When the revenue operations team is given leads that are finely tuned to fit the customer persona of a company, it is easier for them to pique the customers' interest and ultimately complete a sale. This could be described as following a cold lead versus following a warm lead. When sales teams are given B2B data they are able to prioritize their sales thus letting them increase revenue operations in a shorter amount of time.

Lead Generation Cost is Necessary for a Business to Thrive, but How Much Does it Cost?

Well, this is a very broad range and it all depends on what you are willing to pay and what budget makes sense for your company. However, there is a simple equation used when calculating a cost per lead (CPL). When you divide your total marketing campaign spend divided by the number of total new leads you get the CPL. For example, if you spend $1,000 on a marketing campaign and you generate 10 new leads, your CPL is $100. Now that you know what a cost per lead is and how to calculate the cost for your company, you can create a marketing budget to spend. Some important factors to take into consideration are how much an average customer pays for your product/ service and how efficient your sales team is at closing deals.

May I Suggest Prospecting Automation?

As previously mentioned, the more time your sales team has to focus on making a sale, the more sales your company will make. When your team is struggling to find sales leads, your company is losing money. It is estimated that on average a salesperson only spends a mere 15% of their work day selling to customers. So how do you give your sales team more time to focus on creating relationships with prospective clients? This is where prospecting automation comes in. Prospecting automation is exactly what it sounds like. It is the process of gaining valuable B2B data with little to no human workload. Just like that, your sales team has better data and more time to focus on clients.

Some Favorite Prospecting Automation Techniques:

So yes, lead generation is a cost to your business, but a necessary one to say the least. When done right, you are sure to make back a very high return on investment thus leading to much success. If you are looking for a way to increase productivity and lower overall costs in the workplace look no further than prospecting automation.