3 Types of Lead Generation Companies
Lead Generation is a cluttered space currently. As such, it can be difficult to break up the different types of Lead Generation Providers into similar groups. It is no secret that the buying habits of Prospects are evolving. Meanwhile, the strategies Sales Organizations are developing to engage prospects are hurrying to keep up. As a result, 3 distinct types of Lead Generation companies have emerged, serving their customers in a variety of different ways.
What Lead Generation Companies Do
Lead Generation Companies are responsible for delivering a prospective customer to a solution provider’s Sales Organization. The major differences lie in the way B2B Sales Leads are generated. After that, which stage of the Sales Process the prospect is in when the lead is handed to the Sales Team.
What a Lead Generation Company doesn’t do
Companies providing Lead Generation Solutions do not take Sales Prospects across the finish line. That is to say that nearly all Lead Generation Companies leave [at least] the Presentation, Proposal, Negotiation and Closing phase of the process to their Customers Sales Team.
Apart from the amount of work that remains when the Lead is handed over to the Sales Team, Lead Generation Companies have a variety of differentiators. For example, the method they generate the leads, the type of customers or industries their strategy is best suited for and the close-ability of the Lead.
Qualified Lead Generation Companies
Yeah, we are going to start with the part we specialize in. While we are surely a little biased, we truly believe ours is the right formula. Our Process is how we have grown to become one of the top lead generation companies for B2B sales.
While the overall process is lengthy and will bore even the geekiest among us, here is a summary of our process.
- First, we learn about the Clients Solution.
- Next, we determine the Target Industry and Ideal Customer Profile (ICP).
- Then, our team builds the Sales Messaging and Strategy.
- After that, we are ready to engage with the Ideal Prospects.
- Following that, we ask Questions to determine if there is a real sales opportunity present.
- Next, we will establish Budget, Authority, Need and Timeline for Prospect.
- Finally, Leads are handed over to the Sales Organization for Quality Verification and next steps.
A Qualified B2B Sales Lead is ready to move into the final phase of the Sales Process. Typically, next steps would be Demo or Presentation of solution, Proposal and so on. As a result, higher closing percentages are observed by the sales teams receiving the Qualified Leads.
Marketing Lead Generation Companies
These companies leverage the use of Marketing efforts and materials to attract prospects and capture contact details. This is often referred to as Digital Demand Generation.
Typical forms of marketing content for Lead Generation Campaigns may include E-Books, Checklists, Templates, Video Training or Webinars. A prospect must provide their contact information to access the documents and expertise they contain. Therefore, someone from the sales organization may begin to engage the prospect in an exploratory sales conversation.
These leads are typically interest based and have yet to be qualified. Work still needs to be done by a Sales Team member to understand the prospects’ reason for interacting with the content. Further, information needs to be gathered concerning their Budget, Authority, Need and Timeline as it pertains to a possible solution.
Contact Lead Generation Companies
Some Sales Organizations simply need contacts that fit a set profile. Therefore helping to kick-start their Business Development efforts. They trust their own ability to engage and qualify prospects. Only requiring help in sourcing the proper contact details that fit their ICP.
Contact Lead Generation Companies typically leverage software tools and databases to build lists of suitable names and contact details. Quality and reliability are the main challenges that face the companies purchasing Contact Lead Lists.
Which Lead Generation Solution is Right for Your Sales Organization?
A seemingly simple question with a truly complex answer. Many factors dictate which option is the best fit for your organization.
Things to Consider:
What is the average cost of your solution to a new client? Higher Cost solutions would typically benefit from a Marketing or Qualified Lead Generation Company
How quick, on average, does your sales cycle progress? Fast Sales Cycles may be more suited for Contact or Marketing Lead Generation Companies
Is your Sales Team Highly Experienced in B2B Sales? Less Experienced Teams would benefit from a Qualified B2B Sales Lead that is nearer to the Closing Stage of the Sales Process.
Conclusion
This Blog may be a somewhat oversimplified view of the types of Lead Generation Companies. However, hopefully it helps frame the B2B Lead Generation Landscape a little better. Firstly, understand what your Sales Organization really needs. Then, review how successful your team is currently at each stage of your Sales Process. This will help in determining which type of Lead Generation Partner is right for you.