Lead Generation Software Buyers Guide
Last updated: May 29, 2023
Lead Generation is a crucial part of the sales process for a majority of B2B companies to acquire new clients. It encompasses a lot of things, from attracting people to your website to attaining their information so contact databases can be built out of them in order to then nurture and turn them into loyal customers/fans. It provides tools for sales lead automation including capturing, segmentation and assignment of leads for better-targeted marketing communications and shorter sales cycles. While some programs offer lead generation integrated with a CRM program; others incorporate their own lead nurturing tools.
This guide intends to cover all the relevant topics such as their use, features, benefits, types, limitations/drawbacks, and other considerations – in order to help buyers make a comprehensive and informed choice when shopping for Lead Generation.
What is a Lead Generation software?
A lead generation software automates the collection and generation of leads from certain online and offline channels, the gathered leads are then directed to the sales or marketing teams for conversion. These channels can include mail, social platforms, web forms, landing pages, virtual events, and phone calls. For different channels, there are different types of lead generation software specializing in them. For instance, email-focused lead generation. There's all-inclusive lead generation software available as well, which incorporate several channels and other marketing automation capabilities.
A lead generation software will capture information at the point of contact with the user such as landing-page visit, white paper download, or email open. Lead scoring is done based on the action which further defines the next action to be taken. The software gathers information about when and how the customers are interacting with the brand online enabling salespeople to personally focus on targeting well-qualified leads while other leads are nurtured automatically.
Basic Features
Landing Page
Landing pages with embedded web forms are the most popular & effective way to collect leads. It is designed to prompt visitors to take the next action when they visit a website.
Web Form building tool
This way users can create custom forms to optimize lead scoring.
Lead Segmentation
This function categorizes leads based on their demographics, behavior and referral source.
Lead Scoring
Lead scoring is an invaluable feature of lead generation that helps assess and grade leads to identify those most likely to end in a sale.
Lead Assignment
After being segmented and scored, leads are routed to the relevant team within the agency and notifies the sales team when a new lead is captured.
CRM Integration
Allows for lead data to be stored into the CRM database automatically to be used for marketing campaigns.
Social Media Integration
For better business promotion, integrated social media is an easy way to keep in contact with business partners, customers, and prospective customers.
Additional Features to Look Out for
Real-time Lead Tracking
Provides live reports of lead activities sorted by ID number, lead name, campaign name, the leads email, city, state, validity, etc.
Task Management
Follows up on assigned leads.
CTA Templates
Customizable call-to-action templates to create CTA buttons on landing pages, blogs and other pages on the website.
Marketo Email Marketing templates
Pricing & Plans
There is an abundance of cost-effective Lead Generation software in the market, while leads can vary in price and quality ranging from $20 to $500. The difficulty level of acquiring a lead determines the pricing which means the harder a lead is to source, the higher its price. Higher quality leads generally boast higher conversion rates, justifying their higher rates.
Companies that offer lead generation charge a setup and maintenance fee ranging from $200-$1000 annually. Discounts are also given depending on multiple variables.
Which Businesses benefit most from Lead Generation?
According to a study, 21% of B2B sales reps time is consumed doing lead research. This makes for over 8 hours per week spent researching and qualifying leads. Some of the most successful marketing teams, irrespective of their industry use a formal system to generate, organize and store leads. A recent study showed that a solid 57% of both B2B and B2C businesses use lead generation software.
Successful marketing is all about relationship building. It is true for both B2C and B2B businesses. A wide range of businesses can benefit from lead generation software, from car/house rentals, loan providers, marketing and advertising agencies. B2B companies, sell both products and services to other businesses. The purchasing decision is made by a panel or buying team, rather than individuals, leads are harder to capture and require more nurturing to convert into a buyer. Lead Generation software identifies businesses who will be interested in the offered product or services and tailor communications to those businesses. Lead nurturing automation tools help guide prospects through the purchase funnel. While in B2C buyers, the sales cycles are much shorter and turning leads, if done right, can be done as soon as after the first interaction. Lead nurturing tools for B2C buyers serve up content such as discount vouchers or information about special deals to potential buyers and lead that did not turn right away.
Other considerations
Ease-of-Use: How intuitive and user-friendly the software is, ultimately determines its productivity and efficiency. Hence, usability should be taken into account while buying a Lead Generation software
Value for Money: The quality of offered capabilities should match its cost and compared with other competitors pricing.
Features & Functionality: The overall set of functions and features should be reviewed and compared with competing vendors to pick one that suits the business requirements best.
Integrations: Check if the software supports integration with common tools and platforms so that better coordination can be achieved.
Customer Support: the availability and quality of training, implementation, tech and general support is an important consideration in any service/software. Higher the quality of support, better the working experience.
Benefits of having a Lead Generation software
- Shorter sales cycles
- Better ROI
- Identify prospects early on with substantial information
- Identify anonymous website visitors
- No need for cold calls
- Valuable insights on website activity
- Ability to spot opportunities to up-sell to current customers
- More accurate user data and metrics
- Optimized landing pages
- Valuable information to redesign the website strategically
- Tailored and better-targeted sales calls
- Improved efficiency
Final Words
Acquiring the best lead generation software will not only provide a path for lead nurturing but also allow a distinction between casual leads and qualified leads. Lead nurturing, which can produce 20% more in sales opportunities. This will not only help eliminate busywork and increase accuracy but also give businesses the right boost they need to grow and make more sales.
