B2B Lead Generation

The Best Lead B2B Generation Strategy in 2024

If you’re seeking effective ways to generate leads, book sales calls, set appointments, and secure clients, you’ve come to the right place.

Let’s delve into the world of lead generation.

In this document, I’ll break down the sales funnel and share what I’ve learned about what works and what doesn’t in the realm of cold emailing. Despite the abundance of resources available online, I’ve discovered a more effective approach to eliciting responses and securing booked calls that I haven’t seen discussed or taught by others.

This method was developed through my observations in the market, rather than being learned directly from someone else.

The “Traditional Way”

Let’s dive into the conventional approach to cold emailing, which is widely taught and recognised. If you’re familiar with cold emailing, this traditional method is likely what you’ve been following, according to numerous online resources.

They advise sending a cold email with a direct request for a call. Typically, the call to action at the end of such an email would be an invitation for a 30-minute chat later in the week, with the aim of this call leading to a booked meeting and, eventually, a closed deal.

Without prior knowledge or a relationship with the sender, recipients may be hesitant to allocate time for a discussion, regardless of the potential merits of the offer. This underscores a fundamental challenge with cold emails: engaging a cold audience effectively requires more than just a well-crafted message.

Traditional-LeadGeneration
  • What 99% of cold emailers do
  • Asking for a lead’s time right away
  • Extremely low reply rates
  • Low booking rate
  • A lot of “unsubscribe”, “get lost”, “stop spamming me” replies
  • Sub 15% closing rate
    • Low trust
    • Prospects are unsure of your offer
    • They don’t trust you

“New” Way

I have not come across anyone discussing this concept on the internet, but the idea is to conceptualise cold emails from a broader perspective. Essentially, cold emails can be seen as a type of sales funnel, similar to those used in advertising campaigns.

This methodology applies equally to cold emails, direct messages (DMs), or paid advertisements. Regardless of the medium—whether it’s DMs across platforms like Facebook, Instagram, LinkedIn, running an inbound ad, or sending out cold emails—the objective remains the same: to capture attention and draw more eyes to your business, offer, service, or product. The essence of this approach is not about the channel used to gain attention but about effectively engaging potential clients and guiding them through the sales process.

Lead Generation Authority Funnel

Why Email?

What Makes Cold Email So Powerful?

The reason why cold email works so amazingly well is because it bypasses a lot of the problems other lead generation & marketing channels have.

SEO & Content marketing can take months & years to get working when cold email campaigns can be launched in a day.

Cold calling & knocking doors takes a crazy amount of time & resources but cold email can be fully automated with a simple $37/mo tool.

Referrals & Networking is extremely hard to predict when a well working cold email campaign is extremely predictable.

Paid advertising is expensive & is getting more expensive day by day when launching a cold email campaign costs $100 & can bring in the exact same results that a $10,000 ad budget can.

And the best thing is:

EVERYONE HAS AN EMAIL ACCOUNT. The pope, the president & your grandma.

  • It’s super fast to launch
  • It’s extremely inexpensive to run
  • You can choose exactly who you target
  • It’s predictable & isn’t based on any 3rd party algorithms

And that’s why I feel that cold email is the superior lead generation & marketing channel.

BUILDING AUTHORITY + EMAIL = ♥♥♥♥

Building authority using Lead Magnets (a.k.a Providing Value) for your prospective clients not only is producing massive results when it comes to a lead generation strategy but it’s also building brand awareness. Which creates sustainability and a long-term growth, long-term trajectory and long-term opportunities for your business

Pairing the Authority Funnel with outbound email strategies can enhance results significantly. Outbound email presents a massive opportunity, as evidenced by Alex Hermozi in his book “A $100 Million Lead,” where he reveals that 50% of his business comes from outbound efforts.

Creating the Ideal Lead Magnet

Providing value and establishing authority through the use of lead magnets are a critical part of the strategy. Here, I’d like to outline and propose a number of ideas on how to create the ideal content for your target client.

Lead magnets can be segregated into various tiers of sophistication.

Level 1

For the most part, level 1 is probably what you are familiar with. Here is a list of what falls under this category:

  • Whitepapers – this can be in a form of a report, insight into the industry, or
  • Webinars – great way of showing social proof and creating authority
  • Mini-course – another way of creating value by showing authority in a subject
  • E-book – fastest way of creating an e-book is through AI tools such as Jasper.ai or using PLR content
  • Templates – your audience might need a template for various tasks. Some examples of templates includes:
    • Cheat sheets
    • Document templates
    • Calculators
  • Survey – No-code tools allows you to create forms with simple logic to provide recomendations. For example:
    • “What software is best for you?”
    • “What Agile process is best for you?”
    • “What software pattern is best to use?”

Level 2

The next level adds additional sophistication and closer to what you provide as a service or product. But also requires additional investment of time and money:

  • Free trial or evaluation of your product or service
  • Free tools that compliment your service:
    • PLR does provide various software products that you can brand and host
    • Open source tools that you can host that compliment what you create
    • AppSumo lists a number of tools that would give lifetime access and multiple sub-accounts

Level 3

The final tier focuses on stacking a number of lead magnets together to become irresistible.

For example, combining mini-course, with cheat sheets and software products all that compliments your core product or service.

Great lead magnets has low time investment but results in very high value for your potential clients. Ideally, need to be cheap so leverage discounts (AppSumo), open source, AI and even PLR.

Building Your Authority Funnel

Step 1 – List Building

The first step involves list building. By list building, I mean that we need to compile a list of contacts, which is a reason I am fond of cold emailing.

I can create a list of top real estate agents, the top 100 companies, or compile a comprehensive list of contacts within my niche into an Excel sheet, targeting my ideal audience.

There are three primary methods to acquire lists.

1. Purchasing a List

The first method is purchasing a list. For example, if dentists are my target niche, I can easily buy a list of dentist emails from various brokerages. When purchasing a list, it’s important to ensure the brokerage is legitimate and to pre-qualify them by requesting sample lists before making a purchase. This approach offers a quick way to obtain a list.

2. Software

The second method is using software to build a list. There are numerous software options available that can assist in list building, ranging from Instantly Lead Finder to Apollo and Outscraper, among others.

Let’s assume I want to work with coaches and consultants in the professional training and coaching sector within the United Kingdom, targeting management-level or C-level individuals. By utilizing software, I was able to quickly generate a list of 26,370 professional trainers and coaches in the United Kingdom who are at the C-level, with minimal effort. The advantage of using software like this lies in its efficiency and the detailed information it provides on potential contacts, which can be very useful.

3. Virtual Assistant

The third method for compiling a list involves hiring a Virtual Assistant (VA). For instance, by going to Upwork.com and searching for “list builder,” you can find numerous individuals willing to create a list for as low as $4 an hour based on your specified niche.

This approach is particularly effective if you’re targeting individuals listed in directories, attending specific events, or if you’re extracting information from a database. Typically, these VAs might use a tool like Apollo or gather information directly from LinkedIn, then meticulously add each detail to a spreadsheet to ensure its accuracy.

I find that the choice among these three methods—buying a list, using software, or hiring a VA—largely depends on the specific requirements of your campaign and your niche.

Step 2 – Technical Setup

After obtaining the list, the next step is to set up your outbound emails. This involves linking your email account to Instantly (or a similar tool) and then starting to send out thousands of emails a day using your personal email account. The process aims at maximising outreach while ensuring the personalization and relevance of your communication to potential leads.

The approach involves purchasing multiple domains to create “fake” email accounts that can be used with a cold email tool. This method is designed to build trust with the new domains gradually and ensure the safe delivery of emails. Specifically, the strategy includes the following steps:

  1. Purchase 3 domains through a provider like GoDaddy to start with.
  2. For each domain, ensure to correctly configure SPF, DMARC, DKIM and URL forwarding.
  3. For each of these domains, buy three email accounts using Google Workspace, making it straightforward to manage. This results in a total of 12 email accounts across the 3 domains.
  4. For a company named AGCU, for example, the domains might include variations like agcu.co, coachingwithagcu.co, among others, to provide a range of email addresses.
  5. Once these 12 emails are set up in Google Workspace, it enables the capability to send out 8000 emails monthly, assuming a limit of 40 emails per domain. This volume allows for consistent outreach to niches and prospects to convert contacts into leads.
  6. The next step involves integrating these email accounts into an email automation tool, such as Instantly. This can be done by adding the new email accounts to the tool, preferably using a bulk importer for efficiency.
  7. The tool will then begin a warming-up process for these emails, sending and receiving messages to demonstrate activity and reliability. This process helps in establishing these email accounts as trusted senders, reducing the likelihood of being flagged as spam.
  8. To be full effective, allow approximately two weeks for this setup process to complete, ensuring that the email accounts are properly warmed up and recognised as legitimate by email providers.

This approach is highlighted as a way to manage and scale outbound email campaigns effectively while protecting the company’s main domain from being compromised due to high-volume cold emailing activities.

Over time, additional domains and accounts can be added to the tool to increase the limit of sending emails per month.

Step 3 – Email Copy

Personalisation and providing value are the key components to crafting effective email copy for outbound campaigns.

The strategy outlined involves several steps:

  1. The subject line of the email is crafted to appear personal and engaging, using the recipient’s first name to avoid the impression of a generic cold email. The goal is to pique the recipient’s interest without selling anything directly in the subject line, making it resemble something a colleague might send.
  2. The opening line of the email itself should include a personalised message, ensuring the copy is compelling enough to provoke a response. The speaker advises against attempting to sell or secure a call in the first email, as this is unlikely to be effective.
  3. To provoke a response, the email should lead with value. Given that the recipients of cold emails do not know or trust the sender initially, offering them something valuable is a way to begin building trust.

By focusing on personalisation and providing genuine value right from the start, the strategy seeks to enhance the effectiveness of outbound email campaigns, improving the chances of eliciting positive responses from potential leads.

Step 4 – Follow Up & Nurture

The goal is to transform contacts into leads, defining a lead as someone who has expressed interest or opted in, as opposed to just a name on a list. Sending out a large volume of emails, such as 300 a day, will inevitably result in positive replies. The next step involves converting these positive replies into scheduled calls.

Once we have positive replies, our attention shifts towards following up through multiple avenues and on multiple occasions. It’s important to engage with potential leads on various platforms such as LinkedIn, Instagram, and Facebook, and even to call them.

Using the CRM functionality of the email tool, in this case Instantly, allows for efficient tracking of leads’ progress towards becoming a deal. By moving someone who shows interest to the “interested” category within the CRM, it facilitates targeted follow-up communications to further nurture these leads. This systematic approach helps in understanding how leads are progressing and aids in converting them into successful deals.

It’s crucial not to limit ourselves to a single follow-up attempt and assume that will suffice. Instead, we should follow up multiple times, offering value, providing additional resources, staying on their radar, and guiding them from being a lead to securing a call.

Of course, the success of this strategy depends on various factors such as your niche, your offer, the guarantees you provide, and the quality of your copy. Everything must be properly set up for this approach to be effective. This strategy is a proven method for generating leads and closing deals effectively.

Step 5 – Analysis & Iteration

 

Launch a Control Script

After writing your first few scripts, pick the best one and launch it to 500-2000 leads depending on the total TAM.

Anything below 500 leads involves too much chance and is variance is too high.

Create a Google Sheet per offer with following sections:

ABTestingSheetExample
## Automatic meeting book rate formula
=(meetings booked / leads) * 100

# Format to percentage

Fill out how you’re approaching the campaign, what Angle, CTA you’re using and so on.

After the campaign is finished, fill in the performance. If you launch 2 campaigns from the start – do the same for both and explain what you’re testing under the “Testing” row.

Iterating

Now when you look at the data – this (hypothetical) campaigned performed pretty well. But we’re still going to iterate and test against the control.

Main concept: always test only 1 part of your campaign.

If you test more than 1, you won’t know what caused the increase or decrease in campaign performance.

I’ll include a short list of things to test based on data down below.

Choosing Control

Obviously you want to pick your control campaign to be the one that brings the most meetings in.

Even if the open rates are lower, don’t forget what the end goal of the campaign is.

I.e. you find a script that prints meetings but has a low open rate – test deliverability/lead lists and nothing else.

If your 2nd iteration prints MORE meetings than control, highlight that campaign as green and make this your new control.

This way you’re always moving towards the best performing campaign.

What the heck is going on?

Low open rates (<60%)

This is the order of troubleshooting low open rates. It’s almost never the subject line – ‘quick question’ has been giving us +80% open rates.

  1. Check Deliverability and make sure your domains are not blacklisted, burned through or landing in spam
  2. Check your lead lists and make sure you’re reaching out to active emails, people who work at the company etc.
  3. Try a different subject line
Low reply rates (<2%)

Similar to troubleshooting open rates, don’t start from your scripts:

  1. Check the targeting/lead lists and make sure you’re sending emails to your ICP; your lead list might be getting blasted with cold emails every day
  2. Check the offer and see if you can’t position it differently
  3. Check the script and make sure it doesn’t sound ‘robotic’ i.e. your prospects can easily tell that it’s automated
  4. Try a softer CTA: “Worth exploring?”, “Is it okay if I send over an example?” etc.

Low meeting book rates (<0.5%)

If your reply rates are good, but you’re failing to book meetings – it could be a number of different things. This is the hardest part to iterate and find the problem:

  1. If the replies are mainly along the lines of “unsubcribe”, “remove me from your list” etc., you should work on your script sounding less automated and going harder on personalisation. Your prospects can tell that you’ve automated the outreach.
  2. If you’re getting ghosted after sending more information, asking to hop on a call or anything similar; it’s time to do manual followups until you get a yes or a no
  3. If you’re getting replies about “not the right person”, test your targeting
  4. If you’re sending out just Calendly link and prospects aren’t booking meetings, try the manual booking method: “Would xxAM at xxth work for you?”
  5. If prospects are asking for more information and ghost you afterwards, check your replies against the market research/onboarding and see if you’re explaining the offer in terms of their pains or the offer’s benefits

It’s always a good idea to record or make a note of most of the replies coming in.

That way you’ll have an overview on the overall sentiment.

How we can help

Now you have 2 options.

Option 1

Follow these steps yourself & try to build the structure in-house, however…

  • You’ll have to spend thousands of pounds into testing and learning
  • You’ll end up spending at least 6 months figuring everything out
  • You’ll need to spend 2-3 hours a day to manage the system

**OR**

Option 2

You can work with us and we’d do each one of these steps fully done-for-you as you can start generating new clients in just a few weeks without doing the heavy lifting yourself.

So, if you are interested in seeing how this would work for your business, click the link below to schedule a *no-string-attached* discovery call:

Let’s Get Started

Ready To Make a Real Change? Let’s Build this Thing Together!