Tools of the trade: Lead generation tools for marketers

Budgets keep shrinking, expectations continue to rise, and somehow, your competitors still seem like they're gobbling up leads and converting customers left and right. To keep doing more with less, it's time to take a hard look at your customer acquisition and lead generation process—starting with the tools you use.

Great lead generation tools, when working together, can do a lot of the heavy lifting for you. 

In this blog, we look at:

• What lead generation is and why it’s important

• Different types of leads

• Methods of collecting leads

• The best lead generation tools

• Integrating lead generation tools 

Let’s dive in. 

What is lead generation?

Lead generation is the process of turning strangers into prospects who are genuinely interested in your product or service. It’s about creating a steady pipeline of potential buyers, ready to be nurtured into loyal customers.

Think of lead gen as your lifeline. It keeps your business afloat by feeding you a continuous flow of opportunities.

Different types of leads

The result of a successful lead is always the same: a sale or a new client. But each of them might start differently. 

These are the four types of leads:

1. Cold leads: People who’ve never interacted with your product or service and haven’t shown any interest. 

2. Warm leads: Prospects who have shown some interest or engagement with your brand but are not yet ready to buy.

3. Hot leads: Prospects who are ready to make a purchase or are highly interested in your offering.

4. Qualified leads: Leads you’ve vetted for their likelihood to convert. 

• Marketing qualified leads (MQLs): Prospects identified by your marketing team as more likely to become customers compared to other leads. They have shown interest through actions like downloading a whitepaper or filling out a contact form—but they need further nurturing before they can be handed over to the sales team. 

• Sales qualified leads (SQLs): These are leads that have been vetted by your sales team and are deemed ready for direct sales engagement. They’ve shown strong signs of purchase intent, such as requesting a demo or moving to the checkout page. 

• Product qualified leads (PQLs): Prospects who have explored the product through a free trial or a freemium model. They’ve engaged with your product in a way that hints they may convert into a paying customer. For example, using a premium feature repeatedly or reaching a milestone within your tool.

Methods of collecting leads

And while there are multiple types of leads, there are even more ways to collect those leads:

1. Inbound marketing

Inbound marketing is the process of attracting prospective customers to your storefront or landing page. When you answer their most common (and most pressing) questions, they see you as a trusted source — which eventually encourages them to buy from you. 

Common inbound marketing methods include content marketing, search engine optimization, and social media.

2. Outbound marketing

Outbound marketing involves directly reaching out to people who might be a good fit for your product or service. You can do this through email campaigns, cold calling, and direct mail.

3. Lead magnets

Lead magnets provide something of value in exchange for a lead’s contact information. Ebooks, webinars, and free trials are classic examples. These offers entice prospects to share their details, giving you a foot in the door to nurture and convert them.

4. Events and webinars

Hosting events and webinars is an effective way to connect with potential leads. Whether it’s through networking events, product demos, or virtual webinars, you’re engaging with prospects in real time. This direct interaction helps build trust and moves leads closer to making a purchase.

Essential lead generation tools

There isn't a one-size-fits-all approach for your lead generation tech stack. Ultimately it comes down to how you choose to communicate with your audience, the different types of data most important to your lead qualification and nurture process, and the other types of tools your organization uses. From email marketing to social media management, lead generation tools take many forms.