Outbound Lead Generation: How to Find Outbound Leads

These days, marketers and sales reps can't move for advice on inbound lead generation strategies. Articles will tell you that inbound marketing is the future and outbound lead generation is a thing of the past. But is that really true?

Well, inbound lead generation campaigns can certainly yield excellent results - check out our article on how to get more inbound leads - but that doesn't mean that is has to replace outbound lead generation strategies.

The truth is that opinion is pretty even split among salespeople, just over half preferring inbound and the other half not ready to throw out outbound lead generation just yet.

And in reality, it's a moot point which is better if your sales process (inbound or outbound) isn't up to scratch. After all, a world-class outbound lead generation strategy will outperform a poor inbound strategy 100% of the time. So it's crucial to know exactly how, where, and when to optimize your outbound lead generation efforts if you want to reach your target audience and see a healthy sales pipeline.

Luckily for you, that's exactly what we're here to do. Join us as we explore the ins and outs of outbound lead generation perfection, outlining the strategies you should be implementing and the mistakes you should be avoiding if you want to generate leads that convert.

Understanding outbound lead generation

Before content marketing and social media platforms really took off, lead generation campaigns were all about reaching out to potential customers in the quickest, easiest ways possible. Not the key phrase there: 'reaching out'.

Hence the term 'outbound'. Outbound leads are generated when sales and marketing teams contact prospects without prior solicitation, making potential customers who haven't necessarily heard of them aware of their product or service.

In contrast, inbound lead generation is about attracting customers to your company through organic searches, Search Engine Optimization (SEO), and content marketing.

What are the benefits of outbound lead generation strategies?

Although it's often touted that inbound lead generation is cheaper, done right, outbound lead generation also offers considerable benefits to your sales process that could offset those costs.

Let's take a look at some of the key benefits of outbound lead generation:

• It's proactive‍
  
  • Rather than waiting for your content and SEO to generate leads, companies can be empowered by actively seeking out qualified leads themselves. This can be particularly useful for reaching high-value prospects.‍
• You get immediate results‍
  
  • Okay, we can't promise you'll start making instant sales (the average B2B sales cycle length is still 2.1 months), but at the very least, outbound lead generation strategies allow you to collect instant feedback - both the good and the bad.‍
• You can target more effectively‍
  
  • When it's down to you to choose who you're going to contact, it goes without saying that your outbound marketing team can carefully target specific prospects with outbound campaigns.‍
• You can have more 'control' over your sales funnel‍
  
  • By directly reaching out to prospects, companies can guide the conversation and tailor the pitch to address specific needs and pain points.‍
• It's highly scalable‍
  
  • Outbound strategies can be scaled up or down relatively quickly based on business needs and market conditions - and, of course, available resources. This flexibility allows for rapid adjustments and optimization.

Of course, these benefits only become apparent to sales teams working round the clock to optimize their processes and use cutting-edge outbound lead generation tools.

Now, let's explore some of the top outbound lead generation strategies you should be looking into in 2024.

Key outbound lead generation strategies

There's no one strategy that'll guarantee your sales team sufficient outbound leads; almost all successful lead generation campaigns are multi-channel in nature. But by incorporating several - or even all, funds permitting - of these, you'll be more likely to start reeling in plenty of outbound sales.

Cold calling

Let's start with what is probably the sales industry's favorite cold outreach method: cold calling. Cold calls are used by sales reps in almost every industry to initiate contact with high-quality leads.

We don't need to tell you what cold calling is, but we can let you in on a few tips that'll improve your cold calls:

• Don't use the same boring pitch every time. Instead, tailor your cold calls to the prospect's pain points.
• Master 'tone'; evidence suggest that tone accounts for 93% of cold calling success!
• Know when to call. It's been proven that cold calls made between 4pm and 5pm are 71% more effective.

Cold emailing

We can't talk about cold calling without mentioning it's sister, cold emailing. Cold emailing is a quick, efficient, and cost-effective outbound lead generation strategy favored by millions of companies worldwide - and these days, automated systems are making it even easier.

A huge 43% of sales reps agree that cold emailing is the best outreach method. Here's why:

• You can target effectively
• It's easy to send emails in bulk
• They're less intrusive than calls
• Once a software is bought, they're relatively cheap

Direct mail

Perhaps the oldest outbound lead generation method on the list, direct mail remains a great way to reach your target audience. That's because direct mail has an impressive response rate of 60%.

Studies show that potential customers find physical mail more trustworthy than calls and emails, which could account for their success rate.

It's important to note, however, that the success of direct mail very much depends on your target audience; certain demographics are more likely to be susceptible to direct mail than others.

Social selling

From the oldest method to the newest, social selling is fast becoming a favored way to generate leads, especially within industries like FinTech, SaaS, Retail, and Entertainment.

For those who don't know, social selling puts relationship-building at the heart of the sales process, effectively using networking on sites like LinkedIn to promote brand awareness and identify high-value outbound leads.

As a testament to its popularity, 87% of businesses confirm that social selling has helped with their outbound lead generation efforts.

Corporate gifting

Corporate gifting is a less common lead generation strategy which very few lead generation companies offer as a service. In the right hands, however, corporate gifting has the power to make a real impact and can be a reliable way to generate leads.

Basically, corporate gifting is the process of sending strategic gifts to key decision-makers, usually along with a personal note.

The method can take a lot of time and effort, but the rewards can be spectacular. Leadium is one of the few lead generation agencies offering corporate gifting as part of their multi-channel outreach efforts. Get in touch to learn more!

Common outbound lead generation mistakes

So, we know what outbound lead generation methods work, but how can we optimize them? What are some of the common mistakes sales teams make with their outbound tactics?

1. Poor messaging‍
   
   • Whether it's cold calling or cold emailing, half-hearted and repetitive messaging is a curse many sales reps struggle to shake. Personalization is key to outbound success.‍
2. Lack of follow-up‍
   
   • Most sales reps quit after one follow-up message. But the vast majority of sales take more than five conversations to convert. You do the math.‍
3. Insufficient training‍
   
   • Remember that statistic about voice tone? 'Small' elements like that could be the reason your outbound lead generation isn't what it could be. Many sales reps simply aren't given the tools and techniques they need to succeed with both inbound and outbound strategies.‍
4. Not using multi-channel approaches‍
   
   • Outbound lead gen tactics only work as part of a team. The most successful companies leverage outbound lead generation across multiple channels of engagement for maximum possible reach. Like we said earlier, you can put all your resources into cold calling, but it'll only get you so far. It's far better to use a combination of both inbound and outbound tactics.

Improve your sales process with better outbound leads

The most important thing to take from this article is that the best way to generate leads (both inbound and outbound leads) is to use multiple lead generation methods. With regards to outbound lead generation, that means implementing killer cold calling, cold emailing, direct mail, social selling, and corporate gifting practices.

Effective outbound lead generation can be a difficult process. That's why many businesses outsource lead generation to professional services like Leadium.

By partnering with us, you gain access to world-class outbound lead generation teams equipped with the latest in B2B lead generation training and technology. So whether it's inbound marketing or outbound marketing you need, your answer is right here.