Generating leads is both an art and a science. As someone who has been in the lead generation market for 15+ years, I know first hand how difficult it can be to consistently generate high-quality leads, whether inbound or outbound. If you don’t embrace the technologies and best practices available, you’ll quickly be left behind. Companies need a consistent flow of potential customers to ensure their business growth, bottom line.
Let’s take a look at a handful of factors that a demand marketer should consider when considering a lead generation strategy.
According to a report by Market Research Future, the global lead generation market is expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2021 to 2028. The report also states that the market size was valued at $3.3 billion in 2020 and is expected to reach $6.5 billion by 2028.
One of the main reasons for this growth is the increasing use of digital marketing channels. As more and more people spend time online, companies are shifting their focus to digital to reach their target audience. In fact, according to HubSpot, 61% of marketers say generating traffic and leads is their top challenge.
Another factor contributing to the growth of the lead generation market is the rise of artificial intelligence (AI) and machine learning (ML) technologies. These technologies have made it possible to automate many aspects of the lead generation process, making it more efficient and cost-effective. According to a report by MarketsandMarkets, the ‘AI in marketing’ market is expected to grow from $5.8 billion in 2020 to $40.2 billion by 2025!!! Get on board now…
Experts agree on the value of investing in lead generation:
● “The lead generation market is growing exponentially, and companies that fail to invest in lead generation will be left behind.” – David Steinberg, CEO of Zeta Global
● “The lead generation market is constantly evolving, and companies that can adapt to new trends and technologies will have a significant advantage.” – Joe Pulizzi, Founder of Content Marketing Institute
● “Lead generation is the lifeblood of any business, and companies that can master it will be well-positioned for long-term success.” – John Jantsch, Founder of Duct Tape Marketing.
In conclusion, the lead generation market is expected to continue its growth trajectory in the coming years. The increasing use of digital marketing channels and the adoption of AI and ML technologies are two key drivers of this growth. As competition in the market increases, companies that can adapt to new trends and technologies will have a significant advantage.
