Ever tried selling to a total stranger? Your chances of success are pretty low. But if you know something — anything — about a prospective customer, you have a greater chance of closing the deal. 

In marketing, we often forget this. Traditional lead generation tends to focus on attracting prospective customers, without paying much attention to how those leads might convert. 

To unlock better conversion rates, most top-performing companies today rely on lead intelligence. Here’s a look at why you should probably follow suit.

Why Generating More Leads Is Not Always the Answer

Generating leads is an essential task for any business. However, the number of leads you generate doesn’t always correlate with the amount of sales you make.

This is partly because some leads are more likely to convert than others. 

Your approach to lead nurturing and sales development will also influence the number of deals you eventually close.

There are two main steps you can take to improve your conversion rate:

  • Get better at identifying and attracting the best leads
  • Improve the quality of your work throughout the buyer’s journey

At first glance, these might seem like unrelated areas. But actually, both steps rely on the same source: customer data.

The Big Problem With Lead Generation: Lack of Information

In marketing, we often think about lead generation in isolation rather than as a means to an end. 

With this mindset, the tendency is to build a marketing strategy that focuses too much on generating big numbers instead of delivering highly qualified leads

The unfortunate side effect is that your sales teams waste time trying to convert unsuitable leads. Even worse, your sales reps don’t receive the information they need to connect with and convince the best leads. 

All of these problems can be sourced to a lack of data collection at the lead generation phase. 

The Solution Is Lead Intelligence

Lead intelligence is the process of gathering useful information about prospective customers, which can be used to qualify and nurture leads.

This data can come from many different sources, including website and email marketing analytics, social media, purchase data, and more. It can also be compiled in many different ways to reveal key insights about your ideal customer. 

In turn, these insights can be used to shape your marketing strategy and better prepare your sales reps for outreach.

Most top-performing companies today use some form of lead intelligence. In a survey conducted by Databox, around 70% of marketing professionals and salespeople said that lead intelligence data is a very effective tool for prospecting.

5 Ways Lead Intelligence Can Improve Your Conversion Rate

This all sounds great in theory. Still, you might be wondering how using lead intelligence can actually increase sales. Rather than a single answer, we have five. 

Here are the primary benefits of prioritizing lead intelligence in your marketing and sales processes:

1) Improved Targeting in Lead Gen Campaigns

An effective lead generation campaign will attract potential clients who fit well with your offering. They will have the budget to afford your product or service, a need that you can satisfy, and at least some inclination to make a purchase.

In traditional lead generation, marketers have tried to target such individuals through segmentation, usually based on demographics. 

For example, you might pay for ads to be served to execs working for companies over a certain size, within your niche. Alternatively, you could create a lead magnet on a topic that usually appeals to likely buyers.

The problem is, these methods are pretty crude. You are likely to miss out on a lot of potential customers, and catch some leads who don’t really fit.

Good lead intelligence data helps you to be more specific with your marketing campaigns. For instance, you could target people working for companies in your industry that have recently posted on social media about successful funding — all handled by marketing automation. 

2) Qualify Your Leads Better

Of course, even the most targeted marketing campaign will attract some leads who do not fit the profile of your ideal customer. For this reason, it’s important to set up a rigorous system for qualifying leads.

Lead intelligence data can be used to enhance this process. For instance, you can set up a lead scoring system that takes into account a wide range of data points relating to each lead. 

As a consequence, your funnel should be filled with leads who truly match your offer.

3) Get Accurate Contact Information

After leads are passed along from the marketing department, your sales team might want to begin outreach. That means you need some contact details.

In traditional lead generation, contact data is often collected via forms on landing pages. Such forms usually capture nothing more than a name and email address, or phone number. In many cases, people will use a secondary email address or a phone line rather than a direct dial number.

By including lead intelligence practices in your marketing campaign, you can collect much better contact information for your leads. 

Instead of relying on user input, your salespeople can grab better contact information using tools like Datanyze. 

All they need to do is find the LinkedIn profile or company page for any given lead, and the Chrome extension will find an accurate email address and direct dial number with a click.

lead intelligence dashboard

4) Use Background Information to Build Rapport

Making a call or sending an email is only the first step, of course. Your sales reps need to start the conversation that will eventually lead to a deal. 

Experts in this field say that it’s important to make a good first impression, and to give your chosen lead a reason to engage. That means you need some good icebreakers.

In the context of a sales call or email, people tend to be receptive to a few different openers. You can talk about:

  • Shared connections
  • Shared business or academic background
  • Recent company or industry news
  • New needs that require a solution

All of these angles rely on some knowledge of your contact. By including lead intelligence in your strategy and using specialized tools, you can quite easily collect the necessary customer data. 

With the Datanyze browser extension, you can access this kind of information in seconds.

5) Hone Your Offer

When it comes to improving your conversion rate, the final piece of the puzzle is the offer stage.

Delivering the right offer to the right person is essential if you want to win new clients, particularly in B2B sales. However, this is a challenge that every business wrestles with.

There is no magic formula. The only thing you can do is understand your leads and try to create an offer to suit their needs — from pricing to delivery timeframe.

While data from previous sales can inform your decisions, you are likely to deliver better offers when you can access data on current leads. This comes back to using lead intelligence tools to monitor the behaviors of prospects, and retaining that information right through the sales cycle. 

How to Integrate Lead Intelligence Within Your Workflow

As we have seen, lead intelligence can have a transformative effect on pretty much every stage of your market and sales process. The question is, how do you implement it?

First, you need to decide what data you are going to collect. Some common examples include:

  • Website pages visited
  • Emails opened
  • Company information
  • Social media posts
  • Behavioral analytics
  • Contact details

It’s definitely possible to collect some of these data types using features that are built in to your CRM. For instance, Hubspot and Salesforce can easily handle email tracking.

That said, using dedicated lead intelligence software is usually more effective. Such tools can usually collect more data, and they can help you interpret the information and access it faster. Plus, most allow you to sync real-time data with your CRM.

Don’t be afraid to use more than one of these tools at the same time; many are highly specialized.

lead intelligence tools

Datanyze: The Best Lead Intelligence App

When it comes to gathering contact details, finding good icebreakers, and collecting company information, Datanyze is the ideal lead intelligence tool.

Our platform allows you to access all this information through a Chrome extension, powered by a database of 120 million professionals. All the data is sourced in accordance with GDPR and CCPA, and you can easily access your information via our slick web interface. 

Datanyze is also very affordable, and it works perfectly for prospects in the U.S.A, Canada, Europe, and Asia-Pacific countries.

Want to give it a try? Sign up free to discover how Datanyze can power your lead intelligence.