Table of Contents
- What Is A Lead Generation Company?
- What Services Do Lead Generation Companies Provide?
- What Channels Do Lead Generation Specialists Use To Attract Clients?
- What Is The Difference Between B2B and B2C Lead Generation Companies?
- How Much Do Lead Generation Services Cost?
- Why Should You Hire A Lead Generation Agency?
- How To Choose The Right Lead Generation Services For Your Business
- 10 Questions To Ask The Best Lead Generation Companies
- Takeaways On Lead Generation Companies
A lead generation company helps businesses attract and convert potential buyers into paying customers.
These specialized agencies partner with organizations in both B2B and B2C sectors across various industries that want to grow their sales and revenue.
They closely study their business needs and goals to determine who their audience is and what kind of leads would be qualified for them.
They develop strategies to find the leads that match their customer profiles and use various strategies to attract and convert these leads.
They follow all the stages of the consumer journey that prospects go through before making a purchase. From awareness to interest and conversion, they optimize each stage of the sales funnel for maximum sales by using marketing channels like content marketing, email marketing, SEO and more.
Once prospects convert into paying clients, lead generation companies develop loyalty programs to turn customers into repeat buyers and brand advocates.
What Services Do Lead Generation Companies Provide?
The lead generation services these agencies provide that increase the number of qualified leads and conversions include:
1. Lead research
Lead generation is a process that starts by understanding where your target audience “lives” on the web and putting their needs and wants into this context.
The best lead generation companies will conduct research to define your
qualified leads. They will also help you align your offerings with their specific needs, determine a customer cycle and identify the most effective ways to reach your prospects at each stage of that customer cycle.
2. Appointment setting
This is an important task where a company creates a list of prospects based on your business’s target market and industry.
Then, they contact potential clients to introduce your organization and emphasize its key selling points. Through establishing cold calls, these agencies' job is to find “warm leads” or interested buyers.
3. Inbound lead qualification
Lead generation companies will track the leads you generate on your website and tell whether they are viable or not. They will perform this process based on lead qualification criteria.
This will save your organization time but also optimize your website lead generation strategy.
4. Lead management
These specialized lead generation agencies will track, evaluate and prioritize your inbound and outbound leads.
They will follow the activities and behavior of both qualified and unqualified contacts giving them constant attention until they are ready to make a purchase.
5. Lead nurturing
By using a consistent sales lead nurturing system, lead generation companies will help you build strong relationships with your customers.
The point is to turn them into loyal and long-term paying clients by using various strategies like email marketing, content creation, social media engagement, advertising and more.
What Channels Do Lead Generation Specialists Use To Attract Clients?
Lead generation companies use various promotional channels to entice and convert potential clients.
Some of the most effective ones are:
1. Content Marketing
Producing and distributing valuable and relevant content can play a major role in attracting and converting your audience.
Businesses can take advantage of this channel to educate their prospects about their offerings, create interest in them and stimulate their purchasing decisions.
However, despite this channel’s effectiveness, 51% of organizations claimed that creating content that generates quality leads was one of the biggest content marketing challenges in 2020.
This is because many businesses fail to:
- Reach the intended audience
- Create high-quality content that stands out
- Align content with the buyer’s journey
A lead generation agency can make all the difference and implement various content marketing strategies that meet these goals. They might focus on different tactics like:
- Creating a buyer persona
- Developing a blog and attracting subscribers
- Building high-converting landing pages
- Creating the right content formats for each stage of the sales funnel
- Selecting the right mediums for content distribution
- Conducting a guest posting strategy
- And more
2. Email Marketing
74% of organizations say that email marketing is vital to the success of their company.
Email marketing is one of the most productive channels to connect with your potential customers and build lasting relationships. In fact, it is one of the best tactics that you can leverage to increase your sales and revenue.
Data supports this, and according to OptinMonster, email has an ROI of 4400%.
While email is the best medium to increase brand awareness and nurture leads, it can sometimes be difficult to get the desired user engagement and conversions after capturing leads.
To help you get high-quality leads, drive engagement and conversions, lead generation companies will focus on:
- Defining your buyer’s persona
- Segmenting your audience
- Using email data to determine personalization strategies to pursue
- Creating highly customized campaigns
- Designing clean and concise emails
- Writing attention-grabbing subject lines
- Including enticing CTAs
- Using email automation
- And more
3. Social Media Marketing
Thanks to its ability to guide users to take action, social media marketing is one of the most effective lead generation channels.
From simple CTAs on Facebook posts to swipe-up options on Instagram stories, businesses can take various opportunities to promote their offerings on the platforms where users spend significant amounts of time (up to two hours and three minutes daily in the U.S.)
A Social Media Examiner shows that according to 69% of marketers, lead generation was the third biggest benefit of social media marketing in 2021.
Outsourcing lead generation services will give you access to top-notch talent and experienced professionals who know what tactics work best to drive leads using social media.
These experts will conduct proper research on your audience and competition and then create a solid strategy to help you push your leads towards the end of the sales funnel.
They will also post consistently, run social media ads, build social media communities and focus on other aspects that will boost your social media presence.
4. Ad Retargeting
Retargeting advertisements have 10 times higher clickthrough rates than display ads.
Retargeting is an effective lead generation tactic because you advertise to prospects who have already visited your website, remind them about your products and/or services and reinforce their buying decision.
A lead generation company will create off-site advertisements across various mediums but also on-site campaigns to reinforce the visitors’ purchase intent while they browse through your offerings.
Using retargeting along with several other tactics, the Digital Silk agency helped their client Xerox get an increase of 43% in conversion rate for nurtured leads in only six months.
5. Search Engine Optimization (SEO)
Search engine optimization (SEO) as a channel focuses on increasing search engine rankings and driving organic traffic. As such, it complements lead gen efforts by generating awareness.
However, for your pages to rank high and be seen on Google today, you need to consider over 200 factors, including both on-page and off-page factors.
Modern SEO strategies differ from old-school SEO and go beyond “just” producing quality content and writing meta titles.
Today, SEO is a synonym for a great user experience. In other words, apart from optimizing your web pages for search engines, you need to optimize them for your visitors. Think factors like search intent, page speed and mobile responsiveness.
Additionally, modern buyers are often self-educated. They may enter the sales funnel at different stages and may proceed to move down the funnel at their own pace.
Lead generation specialists are fully aware of these changes and adapt their strategies to keep up with the evolving trends and expectations.
What Is The Difference Between B2B and B2C Lead Generation Companies?
Unlike B2C lead generation companies that sell to individual consumers, B2B lead generation companies target business owners or other decision-makers to sell products or services to particular organizations.
This indicates that they might need to create different strategies for both kinds of groups that will depend on several factors like:
- Longer sales cycle: Unlike B2C buyers, who usually make one-time purchases, B2B buyers enter into contracts for products or services that take a longer time. This is why B2B projects have longer sales cycles that are harder to complete and take more time, research and resources.
- Authentic content: B2B buyers are more knowledgeable than B2C buyers, performing longer research before making a purchase. This urges lead generation companies to deliver highly valuable and unique content to nudge them along the sales funnel.
- Main challenge: While both B2B and B2C strategies aim to drive conversions, the goal of these two may differ. B2C sales are more about perception and quality, whereas B2B sales depend on trust and building personal relationships.
- Social channels: Lead generation experts know that B2B and B2C buyers utilize different social media platforms. LinkedIn is the best channel to reach decision-makers and influencers in the business realm. B2C buyers, on the other hand, spend most of their time on channels like Facebook, Instagram and YouTube.
- Interaction: Unlike B2C lead generation companies who typically deal with individuals, B2B lead generation agencies often face interacting with teams. They must meet the demands and specific needs of multiple groups of people so they need to handle projects with professionalism.
How Much Do Lead Generation Services Cost?
The most common pricing models for lead generation services are:
- Monthly retainer fee: These types of fees for lead generation companies in the U.S. range from $2,000 to $10,00 or more and typically include a wealth of services such as paid advertising (PPC), SEO and appointment setting.
- Cost per lead: The cost per lead (CPL) varies greatly depending on the industry, competition and target audience. On average, the CPL ranges between $40 and $198 per lead. For instance, the average CPL for the tech industry is $208 while for the retail sector is $34.
- Cost per appointment: Most lead generation specialists schedule appointments at a cost ranging between $100 and $400, on average.
- Cost per project: Lead generation companies in the USA accept projects that are valued anywhere between $1,000 and $25,000+.
- Hourly fee: Many lead generation agencies price their services by the hour. As such, you can come across hourly rates as low as $25 and as high as $149 and up.
Why Should You Hire A Lead Generation Agency?
The major advantages of partnering with a lead generation agency include:
Reason #1: Work With A Qualified Team
These professional companies will give you access to a specialized team of marketers who have deep experience with various lead generation strategies, including content marketing, blogging, branding, SEO and social media marketing.
These experts will support your internal marketing team and provide you with constant guidance on the current trends in the market.
Their expertise will give you the edge you need to improve your lead generation efforts and deliver the sales you need to keep the business going.
After all, 58% of companies claim that the quality of leads is the most important metric for business success.
Reason #2: Leverage Their Results-Driven Mindset
Generating high-quality leads is the biggest challenge for sales teams.
By outsourcing lead generation services, you will receive the specialized assistance you need to drive clients without deviating from important tasks and core business activities.
The primary goal of your external team will be to generate results for your business while you and your employees can devote time to other vital tasks to forge ahead.
Reason #3: Get Access To Cutting-edge Tools
The best lead generation companies come equipped with expensive tools that can help you better manage your leads, your marketing automation, analytics and other processes.
They can provide you with accurate and real-time data so that you can approach new prospects, track customer interactions and engagement successfully.
How To Choose The Right Lead Generation Services For Your Business
Investigate the following criteria to select the right lead generation services for your business:
1. Relevant industry experience
While the fundamental lead generation principles may be similar across different sectors, industry experience can make a difference.
The companies that have worked with clients in your niche are familiar with your target market and understand your audience’s needs, pain points and challenges. This allows them to create more effective strategies and generate results quicker.
2. Range of services
Lead generation companies come in different shapes and sizes.
While some of them may specialize in specific channels only, like social media marketing or email marketing, others may be able to take multidimensional approaches to attract leads.
Considering that multichannel campaigns can increase ROI by 24% and help you achieve a 7.5% decrease in cost per lead, it is recommended to partner with the latter.
3. Agency reputation
Reputation measurement is an important factor in understanding what other clients think or how they feel about prospective lead generation agency partners.
So, be sure to check their:
- Google rankings - to see how well-developed their SEO strategies are to build brand awareness for themselves.
- Online reviews - to find out how trustworthy they are, if they have met their past clients’ requirements and whether they are capable of delivering consistent results.
- Awards and industry-specific prizes - to learn about their achievements and see if their hard work is recognized.
- Social media likes and followers - to find out how many users are willing to attach themselves to their brand.
4. Customized approach
There is no guaranteed formula for success. Every business is different and has its unique goals.
This is why you should stay away from companies that offer a “secret formula” to drive leads. Instead, you should partner with an agency that is able to provide you with transparent, customized strategies based on in-depth research tailored to your specific goals.
5. Cutting-edge tools
Lead generation is a process that relies on tools to execute successful strategies.
These tools can help you collect key info on your prospects, automate messages and campaigns, perform customer surveys and more. They can make all the difference and help you convert more leads.
Make sure you ask what kind of tools you will have access to when partnering with these agencies.
10 Questions To Ask The Best Lead Generation Companies
- Have you ever partnered with a company in the same or similar sector? What results have you delivered?
- What type of lead generation services are you proficient in?
- What lead generation techniques do you think will work best for our business?
- How do you create your strategies?
- What tools and technologies do you have access to?
- How do you measure the effectiveness of your strategies? Will we receive analytical reports that will track the results?
- What KPIs will you focus on?
- How will communication be handled? Will there be a dedicated contact person?
- What is your pricing policy? How much will the project cost?
- Will we sign a contract? What will it include?
Takeaways On Lead Generation Companies
Lead generation companies in the United States can help you close more deals and increase your revenue by leveraging various channels like:
- Content marketing
- Email marketing
- Social media marketing
- Ad retargeting
The key reasons to consider professional lead generation services are:
- Working with a qualified team
- Taking advantage of their result-driven mindset
- Getting access to cutting-edge technology
To select the best agency partner for your business needs, consider the following factors:
- Relevant industry experience
- Range of services
- Agency reputation
- Customized approach
- Cutting-edge tools
Best of luck!