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Outbound lead generation is one of the sales lead generation methods. A sales lead is a member of your target audience, either a person or a business, who may become a client eventually. A business uses advertising, direct mailing, social media marketing, and other strategies to generate sales leads.
There are two types of sales leads; inbound and outbound. There are several differences between them, but ultimately both of them expect to gain a sales lead. In this article, we will discuss outbound lead generation and its importance for a business. We will, also, discuss proven outbound lead generation tactics you can apply to your lead generation efforts.
What Is Outbound Lead Generation?
Outbound lead generation is a marketing strategy that goes “out” to find potential customers. You are actively pursuing opportunities that fit your potential customer profile without waiting for them to come looking for you.
For example, Company A provides financial services. They have identified several businesses that require financial services. So, Company A reaches out to them directly with details of the services they offer. This will lead to a sales opportunity. This is an outbound marketing strategy for lead generation.
Outbound vs. Inbound Lead Generation
Though, the ultimate goal is the same; to generate sales leads, inbound and outbound marketing have their differences. One main difference is who initiates the engagement. Inbound marketing lets prospective customers discover your business on their own and engage. But outbound marketing would initiate the engagement by directly contacting them.
Inbound lead generation is a more cost-effective strategy that works in the long run. Inbound marketing includes evergreen content that can generate leads a long time after it was created. Outbound lead generation, on the other hand, generates more sales opportunities in a short period. It is a more effective way to get ahead of your competitors because you can reach your potential customers before them. Keeping a healthy balance between both inbound and outbound lead generation strategies will increase your sales leads.
What Are Outbound Leads?
For a successful outbound lead generation, both sales and marketing teams need to work together. Because there are two main steps of outbound leads; marketing-qualified leads and sales-qualified leads.
Marketing-Qualified Leads (MQLs)
If a potential lead has engaged with your content, visited your website, or positively replied to your direct mail, then it is a marketing-qualified lead. This type of lead is more likely to become a client because they have shown an interest in your business.
Sales-Qualified Leads (SQLs)
Once an MQL is ready to make a sale it becomes a sales-qualified lead. They have engaged with your marketing content, shown interest in your product or service, and now, are ready to get into business with you. This is where the sales team picks up the baton to continue the race.
Why Do You Need Outbound Lead Generation?
With content marketing getting the attention, some say outbound marketing is going out of style. But according to industry experts, outbound lead generation still has a lot to offer for your business. Here’s why your business needs outbound lead generation.
Shorter Sales Cycle
Outbound marketing can generate sales leads within a short period, whereas inbound marketing can take up to 6 to 12 months. Outbound marketing will sometimes take just a few minutes on the phone to generate a sale. Especially for start-ups, having a shorter sales cycle can help them grow their business faster.
Builds Brand Awareness Rapidly
With outbound campaigns, you can get your brand to reach potential customers faster. If your brand reaches them before they even have a need, the moment they do have a need you will be the first choice in their minds.
Attracts a New Market
Outbound lead generation can reach new markets better. Outbound marketing proactively engages in reaching out to new customers. Since your business reaches potential customers without waiting for them to discover you, it attracts a new market.
Directly engaging with your target customers can add an element of personalization. With the vast amount of content targeted in general, giving a personal approach to your marketing campaign can increase your chances of generating sales leads.
Proven Outbound Lead Generation Strategies
Every business needs outbound lead generation, especially in the highly competitive social media and content marketing landscape. With everyone competing to get the attention of potential customers, why not contact them directly? Here are some proven outbound lead gen strategies that you can apply to your marketing campaign for 2022.
Personalized Cold Emails
Cold emails are one of the most effective ways to generate outbound leads. As long as your email list is relevant to your business and the emails are personalized, there’s a good chance that it will lead to lead generation.
If done well, cold calls can generate a lot of leads. If you target your cold calls at highly qualified leads, there’s a good chance you will make a sale. However, you need to make sure that your team is very well trained and guided on handling cold calls.
Content syndication is a mix of both inbound and outbound marketing. It is a great way to get your valuable content to the right people. Content marketing is part of the inbound lead generation tactics. But if you find ways to get your content to prospective customers through various channels, it becomes part of the outbound strategies as well.
Referrals do not fall under traditional outbound tactics. But they do help to increase your sales leads. Your existing customers will help with acquiring new customers while giving you the benefit of social proof. You can have a simple referral program that both you and your existing customers can benefit from.
The ultimate goal of every business is to generate revenue. This requires generating sales leads whether you offer products or services. The outbound lead generation process is extremely useful in increasing sales leads. We have discussed the benefits of it with some outbound tactics you can apply in your lead generation campaigns.