No business wants to miss out on high-quality leads or devote extra time filtering out low-quality prospects. Building relationships with leads that fit the ideal customer profile is a number one priority for most companies. But many businesses forget that only around 44% of marketing qualified leads (MQLs) are considered a potentially good fit, allowing them to pass through the sales funnel. For that reason, generating high-quality leads remains a top priority and a big concern for businesses of all stripes. Besides lead generation quality, brands must make a strategically sound decision about bringing the lead generation process internally or putting the work in to find lead suppliers through native ads, lead forms, email marketing, or social media. Naturally, designing and developing the entire process seems like a logical option. But many brands resort to implementing automation solutions that help them refine their lead generation strategy and make the most of every high-quality lead. The final decision, however, depends mainly on the size of your organization, the number of leads you want to buy, and the value behind those leads. Let’s take a closer look at the topic of lead quality that will help you understand the main quality metrics, how to measure leads, and decide whether you need to look for new lead suppliers. The Question of Lead Quality Marketers often look for tips describing how to improve lead quality and accurately measure leads. But before generating or measuring them, it’s crucial to define what a “good quality lead” looks like for your business. Creating lead quality benchmarks and establishing the stages of lead scoring together with sales teams helps marketing professionals define how MQLs, sales qualified leads (SQLs), and all other leads in between should look and behave in a high-intent environment. For instance, SQLs typically have specific criteria like meeting numerous company characteristics, expressing interest in similar products, or being ready to take or make a phone call. As for MQLs, the essential criteria must be based on real-time customer data and their consumer journey. But after all, it all comes down to understanding which metrics you need to track to optimize marketing efforts and ensure that your campaigns generate quality leads. Here are some of them: \tVisitors converted into leads: That is the number of people that visit the company website and become leads. These numbers can sometimes be similar to conversion rates and illustrate how marketing initiatives perform. \tLeads transformed into opportunities: It’s essential to understand how many generated leads make it through after you take them through lead qualification. \tTime for high-quality leads to convert: The probability of a visitor becoming a customer is also about the effort and time it takes for company representatives to move leads through the sales funnel. But the question remains: where do you get the leads your company needs to ensure business growth? Looking for Lead Suppliers Companies looking to enhance their lead generation process often wonder where to start. Some choose to look for suppliers and buy leads; others find the required resources and design a leadgen network internally. Did you miss our recent article on how to successfully sell leads online? Check it out here to see how you can find lead buyers and improve your revenue. If you choose to look for lead suppliers, here are several tips to help you find the right leadgen company or broker. 1. Prioritize Networking Attending shows or conferences is the surefire way to find, communicate, and build long-term relationships with lead suppliers or brokers. While COVID-19 changed things for every industry, it is still possible to attend online and offline events to find and network with top lead generation service providers. 2. Follow Your Competitors It’s not uncommon for businesses to follow their competitors and learn from them. Since companies strive to ensure business growth, they test and adopt different lead generation strategies that would secure the highest revenue for them. Checking their LinkedIn accounts and working through their connections is one of the most common and efficient ways to identify new lead generators for your network. 3. Remember About Research Here’s the thing: there is no secret sauce, and it is all about putting in the hours and doing your research to understand where the high-quality leads come from and who the lead generators are. Whether you are looking for insurance, small business, or home service leads, it’s essential to look at the ads, lead forms, keywords, social media, and dedicated groups to find appropriate lead suppliers. How To Generate High-Quality Leads If you want to stop using Jedi mind tricks and wasting the time of your sales team to generate quality leads and produce a higher yield on them, consider following these tips: \tDevelop a unique lead definition with your marketing and sales teams. \tMake a group effort to develop lead generation programs that reflect the needs of all parties involved in the process. \tGet feedback from sales reps on lead generation companies and established contacts. \tQualify all of the leads against the unique lead definition. \tFind and implement effective lead management solutions. \tUtilize lead tracking to take control of your sales pipeline and get insights into metrics like lead quality and lifecycle. \tOptimize your lead generation campaigns and implement lead nurturing strategies. \tUtilize automation tools whenever possible to ensure your business has a smoother run. How To Get Quality B2B Leads Businesses must keep up with changes and leverage every channel and marketing strategy to remain successful and competitive. For most B2B companies, the top marketing priority remains unchanged - generate more high-quality leads. Source: HubSpot But it requires creating an efficient base of B2B sales leads and the means to analyze relevant data sets and track unique customer journeys. Let’s examine in more detail how B2B companies can make the lead gen process more efficient. Orchestrate Customer Journeys Brands must meet the target audience's expectations to successfully guide them to specific channels, engage in relevant interactions, and improve outcomes based on individual customer goals and overall experience. Becoming a journey orchestrator is crucial to ensuring that every interaction helps high-quality leads to progress toward their and your goals. Create and Update Lists Every outbound strategy depends on the quality of B2B lead lists. Updating and segmenting your lists by audiences can help you accurately set your targeting goals and analyze specific behavioral patterns. On top of that, it can help you focus your efforts only on high-intent audiences. Segment Email Lists and Personalize Your Outreach Tailoring interactions is the number one priority for lead nurturing tactics. B2B outreach campaigns should never look like advertisements. Otherwise, you risk losing time, money, and lead conversions. Source: McKinsey Ultimately, segmenting your audience and personalizing marketing messages can help you categorize quality leads by industry, geography, and company size and improve conversion rates. Tap Into Lead Data A steady stream of leads keeps businesses successful. But growing and expanding requires tapping into lead data and finding out which marketing channels drive the most relevant traffic and how many leads convert into customers. LMS Sync, Phonexa’s tracking, lead distribution, and analytics platform, enables brands to capture valuable attribution data, optimize lead generation efforts, and utilize an automated ping tree service that helps find interested third parties willing to buy your declined leads. Start Capitalizing on Quality Leads Running a successful lead generation strategy is a complicated task. It requires finding reliable lead suppliers or investing in automation solutions that can help you streamline workflows and marketing campaigns. With the right marketing automation solution, brands can successfully structure marketing and sales teams to work towards similar results, resonate with their target audiences, categorize prospects, and adopt effective lead nurturing tactics. But what's even more critical, they can generate more high-quality leads. Frequently Asked Questions What is lead quality? In its essence, lead quality is the probability that leads will convert into paying customers. High-quality leads typically have a high lifetime value, retention, and a strong product fit. Why are quality leads important? Unlike low-quality leads, high-quality leads understand the value of a product or service before making a purchase. What is the definition of high-quality leads? As ideal prospects, high-quality leads meet specific criteria set by individual companies and have a greater propensity for conversion. They are usually more informed about products and are ready to make a purchase if engaged correctly by the selling company. Want to elevate your lead buying and selling strategies? Consider working with Phonexa to automate your efforts through a comprehensive and streamlined system, or meet with legitimate lead distributors who will bring you the data you need to drive more sales. Here are some Phonexa tools and products that can support your efforts: \tLMS Sync for lead generation, distribution, and management \tDynamic Ping Tree with automated bidding structures to help you drive more leads and recycle declined ones \tCall Logic to help you ensure a personalized outreach effort for your purchased leads \tE-Delivery to help you launch a drip campaign to engage your prospects \tOpt-Intel to centralize your suppression lists and preferences Schedule a consultation with one of Phonexa’s experts to learn how Phonexa’s all-in-one suite for marketing automation can help you streamline your lead generation and management and take your company’s leadgen efforts to the next level.