There is so much hype around inbound marketing, that some b2b companies have forgotten about the importance of outbound lead generation.
You might be thinking… Well, cold calling doesn’t work. Isn’t that outbound?
Well, yes it is.. But there are so many other outbound lead gen strategies your company can use to get qualified sales leads.
At Salesbread, our outbound lead generation service makes use of LinkedIn and cold email outreach.
When our strategy is implemented, our clients receive 1 qualified sales lead per day.
In the past 24 months, we have generated close to 7000 qualified leads for our clients.
One of the biggest differences between inbound and outbound is that if done correctly, you could receive your first lead within 48 hours after launching your lead generation campaign …
This article will share what outbound lead generation is, which strategies work and if hiring an outbound lead generation agency might help your company scale growth.
(But if you know that you need instant leads as in yesterday, why don’t you hop on a free 15-minute strategy session with Salesbread? We focus on high quality, low volume LinkedIn and cold email outreach .).
Understanding Outbound Lead Generation
What is Outbound Lead Generation?
Simply put, outbound lead generation is a form of marketing that helps your business find and engage with new potential customers.
Salespeople will use the following outbound channels to help your company find fresh leads:
- Email marketing
- Cold Calling
- LinkedIn outreach
- Trade shows and industry events
- Cold approaching (This is like cold calling but in person. You would need to make a great first impression on decision-makers to gain the lead)
These outbound lead generation tactics focus on contacting your ideal customers, which in turn helps create brand awareness and interest in your product or service, eventually leading to sales.
This is different to inbound marketing.
Inbound methods involve attracting people to your business.
More and more companies are looking at inbound marketing methods, but this can also be a challenge, as inbound tactics take time.
Outbound lead generation works relatively quickly when done the right way.
No one is interested in being spammed or called by millions of telly salespeople all day.
Outbound lead generation strategies
The secret to successful outbound lead generation is simple.
You have to:
- Build ultra-refined prospecting lists
- Personalize your messaging & sales scripts
- And follow up consistently (Lead nurturing)
This applies to any channel you use; whether it’s cold calling, LinkedIn outreach, or cold email.
Did you know that 80% of new leads never convert into sales?
However, studies have shown that when lead generation services nurture potential clients they have a 50% higher conversion rate.
Therefore finding the right outbound lead generation services can make a massive difference to your business.
Here are some of the top outbound strategies to use
1. LinkedIn Outreach
According to LinkedIn research, the average reply rate to LinkedIn messages is 85%, which means that it’s 3 times higher than the response rate to traditional email.
If you haven’t tried LinkedIn in your sales process, you’re missing out on a ton of high-quality sales leads.
(And if you are looking for an agency that specializes in LinkedIn outreach, hop on a free 15-minute strategy session with us.)
Since 2019, Salesbread has averaged a 19.98% reply rate with our ultra-personalized LinkedIn Lead Generation Services.
And… 48.14% of those replies were either meeting requests or qualified sales inquiries on their product or service. This is why we can promise our clients 1 high-quality sales lead per day.
Here’s our LinkedIn strategy:
Build an ultra-refined list of your ideal target audience
The first step in any lead generation effort is figuring out who your ideal target audience is. And this type of list building shouldn’t be basic. It shouldn’t stop at demographics and industries.
You ideally want to go after:
- Prospects who need what you’re selling
- Who has the budget
- … And who has the buying power.
We do this by analyzing WHO has purchased your product or service within the past 6 months.
Then we ask: “What do all these B2B buyers have in common?”
- Are they all located in the same area? 10 miles from Alaska? In Cape Town, South Africa?
- Which industries are buying? Saas? Health and wellness? Construction?
- If it’s health and wellness for example, which division is buying? Hospitals? Psychiatric services? Emergency wards?
- How big are these companies? More than 500 employees or less than 10?
- Have these companies been funded?
- What are their marketing strategies? Is there a budget for social media marketing? Or do they use another form of advertising?
- Which departments do they have on their payroll?
We actually use over 34 filters to build a list of accounts for your outbound campaigns.
Our Pro tip: Use various lead generation tools and not just LinkedIn Sales Navigator
If you’re looking to work with a LinkedIn lead generation agency, make sure they use other tools besides Sales Nav. The reason? Sales Navigator isn’t totally accurate. The video below explains why:
We actually go OFF Sales navigator and use tools such as:
- Bombora
- Crunchbase
- Clutch
These tools provide us with the FRESHEST data.
Once our list is perfect and we have found the right people to reach out to at these companies, we will then do the following:
Research each prospect on the list, and write then a very specific personalized message
In our messages, we will make sure to either compliment the prospect, mention a commonality, or ask a question.
This method is known as CCQ.
The reason we personalize each connection request is that it lets our messages stand out from every other spammer. The prospect realizes that this message is specifically for them.
(Our outbound sales team actually consists of a personalization expert, whose sole job is to research individuals on our lists and find something specific about them.)
Next, we follow up consistently and ask for a booked call
Finally, we will follow up with prospects and ask them to hop on a quick call. We keep our “ask” simple, and ensure that it’s easy for the prospect to agree to.
Here are some examples of CTAs that we use:
- Are you free for a call this Friday to discuss [MAIN BENEFIT]?
- Are you available for a quick call in the next few days to see if [MY PRODUCT] aligns with your goals?
- When are you free to connect this week? You can use this link to book directly on my calendar.
- Can we target {{=bday+2}} afternoon to discuss [BENEFIT/PROBLEM]?
- What’s the best way to schedule 5 minutes to talk?
- Would you have some time next {{=day}} to discuss?
2. Cold Calling
Cold calling is the process of reaching out to potential customers via phone who haven’t previously interacted with your business. It’s direct, personal, and can be highly effective if done the right way.
Best way to do it:
Research: Know who you’re calling. Understand their business needs and how your product or service can help.
Script Preparation: Have a well-prepared script but be flexible. The goal is to start a conversation, not just read lines.
Listen and Adapt: Listen to the prospect’s needs and concerns and adapt your pitch accordingly.
Despite the rise of digital communication, cold calling remains effective. A recent study found that 57% of C-level buyers prefer to be contacted by phone. This direct interaction can quickly build rapport and trust, leading to higher conversion rates.
But there is a trick to it.
Don’t be a pushy salesperson and make sure that cold calling is legal in your country.
Research your list and make sure that they need what you’re selling. Otherwise, you are going to end up with a ton of irritable prospects.
3. Cold Emailing
Cold emailing involves sending personalized emails to potential customers.
This could be one of the most cost-effective lead generation strategies for outbound, but it’s so important to focus on quality and not quantity outreach. Rather send a few expertly written, helpful emails than thousands of spammy ones.
Best way to do it:
Personalization: Personalize each email. Use the recipient’s name and reference specific pain points or industry trends. You can also research each person on the list and use the CCQ method. Keep your messages short and to the point.
Use an interesting subject line: Your subject line can capture the attention of your prospect. So you might want to include a question in your subject line. (Here are some cold email templates for your perusal.)
Clear Call to Action: Include a clear and concise call to action. Make it easy for the recipient to take the next step.
When done right, cold emailing can yield a high return on investment. On average, businesses see a $38 return for every $1 spent on email marketing.
It’s a great way to generate leads and nurture prospects through the sales funnel.
Social Selling
Social selling uses social media platforms like LinkedIn, Twitter, and Facebook to connect with potential customers. It’s about building relationships and leveraging your online presence to drive sales.
Best way to do it:
Optimize Your Profiles: Ensure your social media profiles are professional and clearly convey what you offer.
Engage and Share: Regularly share valuable content and engage with your audience. Respond to comments and join relevant conversations.
Network: Use social media to identify and connect with potential leads. Build relationships before pitching your product.
Social selling can definitely impact your sales. 78% of social sellers outsell peers who don’t use social media. It helps you reach a wider audience and build trust over time, leading to more sales opportunities. Remember to build connections with your ideal customer, and use the social media platform where your ideal target audience spends their time.
Trade Shows
Trade shows are events where businesses in a specific industry showcase their products or services. They offer a unique opportunity to connect with potential customers face-to-face.
Booth Presentation: Design an attractive and informative booth. Make sure it stands out and draws people in.
Engage Visitors: Train your staff to be engaging and knowledgeable. Have meaningful conversations with visitors.
Follow-Up: Collect contact information and follow up with leads promptly after the event.
Trade shows can be a goldmine for generating leads. 81% of trade show attendees have buying authority. The in-person interactions can leave a lasting impression and drive significant business growth.
What are the benefits of hiring an outbound lead generation service?
The crazy amount of information bombarding consumers today makes them picky when considering what to purchase or who to interact with.
A simple search in your Google search engine will bring up hundreds and thousands of results by just typing in a question.
Most people never go beyond the first page. So if your SEO isn’t great, your business might not get noticed.
People also have less time; therefore, their attention span is limited. A recent study showed that within the past 15 years, our attention span has decreased remarkably.
In 2015 the same research showed that our attention span is about 8.25 seconds on average.
This is less than a goldfish, whose attention span is about 9 seconds.
So it’s harder for companies to work out a strategic marketing plan if they don’t have the right resources. If you don’t grab your consumer’s attention within the first few seconds, you can lose any new potential leads.
Campaigns need to be focused and strategically planned, and this is why outbound lead generation services can come in handy.
When you combine outbound lead generation services with inbound lead gen tactics, you can be sure that you will set up your company for success, according to Salesforce.
So do outbound lead generation services work?
Yes, they do work.
Here are some reasons why outbound lead generation could be a game changer for your company.
1. It creates brand awareness… Quickly.
When it comes to creating brand awareness, social media marketing, SEO, and content marketing can take time.
At Salesbread we use content marketing as one of our inbound methods, but it has taken us almost 2 years to start seeing solid results.
Below shows how our website traffic has increased slowly over time:
For an inbound strategy to work, you need to post articles regularly and even build relationships with influencers (for social media ), which can also be costly.
For example, one post by an influencer could cost $20 or more, depending on their following.
Outbound lead generation creates awareness quickly. The great thing about outbound lead gen is that you can find the perfect target audience for your brand, due to advanced technology. If you create ultra-refined prospecting lists, you can narrow down your ideal customer profile based on current buying data.
This in turn leads to more conversion rates because you’re targeting people who:
A.) Need what you’re selling
B.) Who has the budget
C) Who has the buying power
A lead generation service can pinpoint precisely who should be targeted and develop a strategic plan to use email marketing, phone calls, or even LinkedIn outreach to contact your potential client.
Once a personalized approach has been developed, the B2B lead generation service of your choice can nurture these leads and move them down the sales pipeline.
2. Outbound lead generation services attract new business.
According to a survey conducted last year by Fractl and Moz, companies’ main ways to attract new business were by direct email marketing. See their infographic below for a more detailed visual of effective ways for a company to attract business.
As you can see, according to the graph, 53.5% of consumers said that email marketing offers for discounts, coupons, or free trials got their attention.
Interestingly more than half of the people in this survey mentioned that traditional advertising caught their attention the most.
Here is another graph by Fractl and Moz that shows promotional emails come in second.
So when people say that outbound lead generation is dead, don’t believe them.
The stats are living proof that outbound lead generation is still very much alive and, in fact, one of the main ways to create brand awareness.
3. Outbound lead generation services can also give you high-quality data.
When it comes to traditional advertising, you don’t have a surefire way of keeping track of data.
For example, you might know more or less how many cars pass a billboard on a specific day. Still, you won’t know how many people actually took note of your advert or how many people actually converted to a buyer from your ad.
But with outbound lead generation, you will have a very clear indication of your data. The best part is that you will also know your conversion rate.
All of this data can help you adapt your marketing strategy in order to be efficient.
Here are some tools that outbound lead generation sales teams might use to follow data:
Price: On average, $18,321 a year
This is a tool used for outreach and sales data Price: (Starting price) $79,99 per month if paid annually.
(This is also another great reason to use an outbound lead generation service. If you had to pay for these programs yourself, it could end up costing you a lot of money.
With the right kind of done-for-you-lead generation, you can have peace of mind that your business is in good hands. )
4. Turns out, your prospects don’t mind outbound lead messages.
Hubspot asked a few consumers which forms of advertising frustrate them the most or which had a negative effect on them.
Direct phone calls had the most negative effect on people, but email marketing had a neutral effect on people.
Why was this?
Well, people could still choose whether to open the email or scrap it.
Therefore lead generation via cold emails that are personalized still sees good results and can increase outbound sales.
Only 9% of people found promotional emails annoying, whereas 76% of people found that telemarketers had a negative impact on them.
This graph by Hubspot gives us a clearer understanding of the minds of consumers.
But why is there so much hype around inbound lead generation?
As mentioned above, many feel that outbound lead generation is dead, but as we saw, it’s not.
In fact, it is still extremely valuable in generating leads.
But yes, there is significant hype around inbound lead generation, and with good reason. Inbound lead generation focuses mainly on valuable content.
Did you know that stats show that inbound marketing produces three times more leads per dollar than traditional marketing?
Content marketing also gets three times more leads than paid advertising.
But in order for inbound marketing to be successful and to find genuine leads, you need to post often and keep thinking of new and exciting ways to create content.
One big problem with inbound marketing is that it has become highly competitive. SEO optimization, PPC, digital marketing, and even online events are flooding the internet.
The type of content that you need to produce needs to be excellent and worthy of the attention of your target audience.
So it does work, but it can take time and resources before you receive the number of sales you would like.
The best option would be to combine outbound and inbound for a lead-generating machine that will not fail.
What is the cost difference between outbound lead generation and inbound lead generation services?
The cost of outbound lead generation
You might think that outbound lead generation services cost a fortune, but the good news is that they don’t.
When you outsource a lead generation service, you might be surprised at how reasonably priced they are.
For example, the average cost of a sales representative per year is $76,681. Imagine needing to pay a sales development team this salary yearly, per person.
This means that the average salary you will pay your sales reps per month is $3730.00.
As you can see, when you use an in-house team, it can be costly, especially for new startups.
The better option would be to hire outbound lead generation services. For example, on average, Salesbread would be able to do all your outbound lead generation for $3000 per month, with no locked-in contracts.
Our sales reps have vast experience, meaning that you will have more qualified leads in a shorter space of time.
By outsourcing, you will save money and cut down on stress.
If you are interested in finding out why outsourcing is a great idea, please read our latest blog on 10 reasons why you should outsource lead generation.
Now that you know the cost of outbound lead generation, you might wonder what the price of inbound lead generation is.
By comparing the cost, you will be able to make an informative decision on whether to use either inbound or outbound or if you would like to combine the two for a killer marketing strategy.
The cost of inbound lead gen
According to Hubspot, an inbound marketing lead is about $135, compared to $365 for outbound marketing.
This cost differs slightly depending on your target audience, product, and industry. Hubspot also shows that inbound marketing is 61% cheaper than outbound.
Another study showed that small to mid-sized businesses could pay a marketing agency between $2000 and $12,000.00 per month for inbound lead gen.
Interestingly, it was found that if you had your own in-house inbound marketers, you could pay up to $20,000 per month.
Remember what we discussed above; With outbound, you will see results much quicker, whereas, with inbound marketing, it could take some time to grow an audience and find your ideal customer.
By combining the two methods, you have a greater chance of finding high-quality leads that will lead to sales.
Takeaways for considering outbound lead generation
Outbound lead generation can be a great way to grow your business, but it’s important to approach it with a solid strategy.
Identifying Your Target Audience
Before you start reaching out, it’s crucial to know who you’re trying to reach. Define your ideal customer by considering factors such as industry, company size, job title, and geographic location. The more specific you are, the better you can tailor your approach.
Choosing the Right Outreach Channels
There are a number of channels you can use for outbound lead generation, including cold calling, cold emailing, social selling, and trade shows. Choose the channels that are most likely to reach your target audience effectively.
For example, LinkedIn might be great for B2B leads, while Instagram might work well for influencers.
Use personalized messaging
Your messaging needs to grab attention and convey value quickly. Focus on how your product or service can solve a problem or improve the prospect’s situation. Use clear, concise language and avoid jargon. Always include a strong call to action.
Building a High-Quality Lead List
A high-quality lead list is a non-negotiable for successful outbound lead generation. Ensure your list is up-to-date and relevant to your target audience. Avoid purchasing generic lists; instead, invest time in building a list tailored to your specific needs.
Researching Leads Before Reaching Out
Take the time to research your leads before making contact. Understand their business, their pain points, and how your solution can help. Personalize your outreach to show that you’ve done your homework, which can significantly increase your response rate.
Use Data and Analytics to Refine Your Lead List
Data and analytics can provide insights into which leads are most promising. Track your outreach efforts and analyze which approach brings in the best results. Use this information to continually refine and improve your lead list and strategies.
Ready to give outbound sales strategies a try?
So can outbound lead generation generate more B2B sales?
The answer is yes.
From gaining a wider audience with marketing teams who know how to get quality leads; to keeping a watchful eye on data, which helps with sales development.
If you would like to find a lead generation company that has your back, Salesbread can make those quality leads happen within 48 hours after the campaign launch.
Our outbound lead generation service has the experience to find your ideal customer and help you make more money through a strategic marketing strategy.
Read this article to see exactly how our outreach strategy works.