Learn how to determine whether an email address is real or not before you actually send it.
A Quick Lead Generation Checklist: 9 Things You Need to Do
If you follow the nailing-your-niche strategy which was first introduced by Aaron Ross and Jason Lemkin in their book “From Impossible To Inevitable,” you’ll agree with us when we say that it’s always better to focus on a small group of target customers instead of defining your target market so broadly that you get lost in it.
When it comes to lead generation, by narrowing your focus and by knowing exactly which specific issue your potential clients are dealing with, you gain expertise, offer a solution to your prospects’ problem and, eventually, win more deals.
Also, there are a few other things that we recommend doing if you want to master lead generation. We’ve put all of them into one nifty checklist. Feel free to download and share it with your team!
Now, let’s take a closer look at each item on the checklist.
1. Create an Ideal Customer Profile (ICP)
An ICP description is something that most sales teams use to stay focused on their goal and what we recommend creating if you want to generate leads successfully. In order to develop your own ICP, you should first collect data about your current customers and then identify what your top clients have in common.
The most critical data points are industry, country, company’s size, yearly revenue, decision makers’ position title, and currently used SaaS products.
By simply writing everything down, you’ll end up with a useful template that you and your sales team can use to discover new prospects and turn them into paying customers.
2. Develop a compelling value proposition
Having an ICP in place helps to discover companies that are most likely to be interested in buying your product or service. But that’s only a first step. Next, you should develop a compelling value proposition.
What does your product do? Why is it unique? How does it help your potential clients? Think about these questions and then describe your unique value proposition in a way that speaks to your target audience.
3. Choose your client acquisition channels
Making a smart decision on where and when to present your product to your target audience can be a key factor in your business growth. As for customer acquisition channels, the possibilities are endless, but one thing is almost definite: not all methods will work, so you have to be ready to try and fail.
If you decide to try out a lead generation platform, the easiest way to get a list of potential clients is to take your ICP and put its characteristics as filters into the platform. This way you’ll get a better understanding of how many potential clients are out there.
Using a lead generation tool such as Oxyleads has proved to be useful for many companies, but that doesn’t mean that you’ll get the same results. The best strategy here is to test a few options and determine which client acquisition channels work for you.
4. Pick the right tools
As with most things in life, no software or lead generation tool is perfect. However, there are some great options that can make your daily life so much easier. When it comes to lead generation, the main issue that you want to tackle is manual tasks.
On average, sales teams spend 23% of their time manually inputting data, so concentrate on software that can automate data collection and speed up the overall prospecting process.
When choosing a lead generation tool, pick a solution that offers up-to-date contact information, plenty of filters, and features such as email verification or email finder. However, the best way to know what works for you is to just try it out.
5. Evaluate data quality
Some business professionals who aren’t huge fans of lead generation tools say that the quality of leads coming from this type of platforms is poor. We want to bust this myth and point out two simple things which indicate that a sales lead is of high-quality.
Firstly, a good lead comes with a lot of information. Of course, if a lead generation tool provides you only with a list of emails, it won’t be anywhere close to what you and your sales team need to convert leads into paying customers. Luckily, there are plenty of tools out there that provide you with comprehensive data on companies and people.
Secondly, high-quality leads come from databases that are regularly updated and validated. For example, here at Oxyleads, we keep contact data accurate by updating at least 10% of our database every month.
You can quite easily evaluate both of these criteria and decide if the data quality meets your company’s standards.
6. Calculate the number of leads needed
63% of marketing and sales professionals say that generating leads is their top challenge, but not all of them can answer the question of how many leads they need exactly every month. If you think that there’s no such thing as too many leads, you might be wrong. If you generate too many, you simply won’t be able to reach out to all of them and will be losing potential clients.
As for the minimum amount of leads needed, sales teams use various methods how to calculate this number. Most of them include business metrics such as the average revenue quota per sales representative or the conversion rate from leads to deals. You can see the detailed example here.
Knowing how many leads you need helps to plan your marketing budget and keep a healthy number of prospects flowing into the pipeline. It also helps to choose a pricing plan which is right for you and your company.
7. Build targeted lead lists
Sales developers can spend up to 40% of their time trying to identify decision makers in prospects’ companies. Having not enough time for this task is what 48% of marketers name as their biggest challenge. Lead generation tools help solve this problem by offering an automated way to find and filter people who can make a buying decision.
By setting the correct filters and by choosing the right criteria in a lead generation tool, you can increase the quality of sales leads and get more targeted lead lists.
8. Master cold outreach
Successful lead generation is closely related to outbound marketing. Cold outreach can bring hundreds, and even thousands of high-quality leads to your company’s sales funnel but your emails must be relevant, personalized, and deliver value.
38% of sales professionals claim that getting a reply to their cold emails is becoming more and more difficult. That’s why your offers should fit your prospect’s business goals and speak about their use cases.
Doing your research before sending out an email campaign is also extremely important. Check various sources, such as company websites or social media pages, and look for recent product launches, information about company revenue, funding received, and any other piece of information that you can include into your cold email in order to make it more personal.
It’s no secret that sales reps sometimes tend to trust their communication skills and skip the research part. Also, there are times when salespeople are overwhelmed by the workload and simply don’t have time to collect information about their prospects. However, the research part is essential for a successful deal and time should be saved elsewhere.
9. Keep an eye on your bounce rates
Since people continuously change positions and companies are being sold or get bankrupt, it’s impossible to avoid bounces entirely. Having a bounce rate of 2% is completely normal for any business.
However, if you have a higher bounce rate, you should take immediate action. Otherwise, you can harm your sender reputation or even get your IP address included in various blacklists.
As you can see, lead generation tools such as Oxyleads can be of great help when it comes to finding new contacts for your cold outreach. If you want to give it a try, we recommend starting with our tool because it’s free to start and you get to try out various lead generation and email verification features. Click here to sign up.