The marketing lead generation software market size is set to hit $20 billion in the next few years. The reason for this predicted growth is the huge rise in requirement for data driven marketing, and customer acquisition. As more companies are driven by data, those who can provide conversion magnified leads are more likely to be successful.
This is a new market that is growing rapidly with an estimated CAGR (compound annual growth rate) of 13.84% over the forecast period of 2016 to 2024. The market has been segmented on the basis of type, technology, application and end-user.
I give you a run down on the market for software used for Lead Generation. I discuss the main players in the market, the barriers to entry, pricing, and trends within this industry. This guide is geared toward business owners looking to stay informed of what’s happening in the space or people who are looking to see if it’s something they can get involved with.
With the marketing lead generation software, companies and businesses can bring more qualified leads. In this article, you will explore information about lead generation software market size and forecast. You can also discover lead generation software vendors and get a deeper understanding of how they work.
INTRODUCTION TO THE MARKET
Lead generation software helps to automatically generate and collect leads from specific channels and path the received leads to sales or marketing teams for conversion. As leads can be found and generated from any channels, from social media to email platforms to landing pages, there are several various types of lead generation software catered to different, specific channels.
MARKET DYNAMICS
Automation of marketing activities and accuracy in customer information are some of the major factors driving the growth of the lead generation software market. Moreover, track customer interactions and engagement and improvement in social media strategy are some of the other factors anticipated to boost the growth of the lead generation software market.
MARKET SCOPE
The “Global Lead Generation Software Market Analysis to 2028″ is a specialized and in-depth study of the lead generation software market with a special focus on the global market trend analysis. The report aims to provide an overview of lead generation software market with detailed market segmentation by type, organization size. The global lead generation software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading lead generation software market players and offers key trends and opportunities in the lead generation software market.
MARKET SEGMENTATION
The global lead generation software market is segmented on the basis of type, organization size. On the basis of type, the market is segmented as lead capture, lead intelligence, lead mining, lead scoring, other. On the basis of organization size, the market is segmented as small and medium enterprises, large enterprises.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global lead generation software market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The lead generation software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting lead generation software market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the lead generation software market in these regions.
Lead Generation Solution market: Enterprise Size Overview
Based on enterprise size, the lead generation solution market is bifurcated into SMEs and large enterprises. A large enterprise comprises more than 1,000 employees and has large a CapEx, full-time IT staff with several specialists, and presence across numerous domestic and international locations. For any big business, qualified leads are very important, which enhances the importance of lead generation solutions. A few of the top lead generation companies serving large enterprises are HubSpot, Inc, Callbox, and Upcall, among others.
What is a lead generation system?
Lead generation software is a time-saving marketing and sales app that lets you automatically generate more leads and route them to the proper team. It helps you increase brand awareness, attract more qualified leads, and close more sales deals.
Lead generation focuses on the top of the sales funnel, typically pulling leads from online channels like email, social media, and landing pages. From these channels, it collects contact information from people who have expressed interest in your product or service.
So you can market to them with better insight. More targeted marketing tactics mean more qualified leads, which ultimately translates to more profitable deals.
Is lead generation a marketing tool or a sales tool?
In some ways, it’s both. It’s the marketing department’s job to create materials that target your ideal customer and attract leads. From there, sales takes over to nurture the lead until the deal is closed. Lead generation programs refine the lead-finding process with both sales and marketing in mind. Often, a lead generation system is a feature of a larger platform, like a CRM. That gives both teams even more useful tools for streamlining productivity and boosting profits.
Why do you need lead generation software?
Competing for consumer attention requires constant effort. But even the most dedicated teams can find it tough to identify and engage with the right customers. Every day, businesses change addresses and phone numbers, contacts leave organizations, and new companies are started.
Lead gen software helps minimize the time your company spends tracking down leads. All by automatically updating contact information. That means you won’t find yourself working with outdated data.
A lead generation system not only helps you find customers, it gives you the tools to find the right ones. The highest value customers are ones who:
- Are genuinely interested in your product or service
- Have the money to invest in your product or service
- Have a problem that you can solve
Lead generation software is highly advantageous because it attracts leads who generate the most profit while requiring you to expend minimal effort. It narrows your sales team’s focus to the customers who are most likely to buy your product or service. That minimizes time wasted on cold leads, and helps you develop a stronger customer base.
How does a lead generation platform work?
Lead generation isn’t a one-size-fits all approach. Depending on if you’re a B2B or B2C business, you’ll use lead generation programs differently. Some lead generation tools are meant to increase customer engagement, while others help you streamline the sales call process.
But no matter which approach is best for your business, the idea is the same. Get your name out to customer leads, and attract them to your door before they go to the competition.
Lead generation can include a lot of different tools, but here are some of the most popular ones:
- Content creation tools: Some lead generation platforms offer templates for creating content like blogs, white papers, infographics, and e-books. Sharing this kind of content on your website and across social media channels boosts engagement. And it establishes you as a knowledgeable source in your industry. You can also require viewers to submit contact information before accessing long form content like e-books or instructional videos.
- Lead nurturing tools: Once someone enters your pipeline, it’s vital to keep the engagement going to turn them into a marketing qualified lead. Lead generation lets you gather enough information to target your contacts with personalized messaging via email campaigns or phone calls.
- How to score leads: Lead generation systems can calculate and assign a numerical value to your contacts. The higher the score, the more likely that contact is to make a purchase. Leads are scored based on several variables, including industry, website activity, and company size. Trying to manually score your leads would be an exhaustive task, which makes it one of lead generation’s most powerful and time-saving tools.
- Lead distribution: Once your program has identified a high-value lead, their information is automatically passed along. Right to the appropriate sales representative to follow up and continue building the relationship.
- Sales analytics and reporting: The simple act of using lead generation isn’t automatically going to boost profits. You’ll need to look at your analytics and reporting to see what’s working and what isn’t. Putting the effort into checking your analytics and making adjustments to your process may take some time, but it’s a necessary step in ensuring your lead gen software is working for you.
What are the features of lead generation software?
When it comes to shopping for a lead generation system, here are the five key features you should look out for.
Intuitive interface
Even the most powerful software will be ineffective in your hands if you can’t use it. Marketing teams are experts in marketing, not web development. Look for lead generation programs with an intuitive interface and multiple options for training. Then anyone on your team can use it without suffering technical headaches.
Integrations
You’re probably already using business apps, so any lead generation software you decide on should include integrations. This will allow you to share data between your lead generation system and your CRM, email apps, and other business-related platforms you’re currently using.
Integrating your lead generation software with your other platforms eliminates the need to constantly switch browsers. Or double-check your data between platforms to make sure it’s accurate.
Analytics
Having accurate and up-to-date data is vital to strategizing better business practices. Any lead generation software you invest in should have a comprehensive analytics and reporting feature. That way you can always have an eye on the numbers. This lets you make data-driven decisions for improvement, and identify where you’re falling short of your goals.
Automation
Automation saves huge amounts of time by responding to leads, analyzing data, and prioritizing leads. You don’t have to automate every task on your to-do list. But having the option means more control over how your teams are spending their time.
Customer relationship management
In your search for lead gen software, you’ll probably come across something called CRM software — customer relationship management. Lead generation is often included as a feature of CRM. Because it all falls under the umbrella of nurturing customers in your sales pipeline and building a loyal customer base.
If you’re worried that CRM sounds too big for you at the moment, don’t be. CRM for small businesses is specifically designed to scale with you. While still providing all the benefits of lead generation, contact management, and sales tracking.
Most CRM platforms will let you add on features as you grow. Meaning you can pick and choose which features you can afford to invest in at any given time.
Conclusion
Lead generation software market projections suggest that the industry will continue to show solid growth over the coming years. It’s projected to grow by a compound annual growth rate of 10 percent, which is significantly higher than historical averages, anytime soon. The influence of social media and digital marketing on lead generation software market growth is immense. Digital leads are more vital to marketing than ever before, making lead generation software a powerful addition to many modern marketing organizations.
Lead generation is the process for collecting contact or business details of potential customers. The leads are then either followed up by sales or the information is used for marketing purposes such as customer segmentation and targeted promotional campaigns. Lead generation has become a necessary part of any marketing campaign and organizations that do not have accurate systems, resources, and processes in place for lead generation will find it almost impossible to stay relevant in the market.