11 Key Lead Generation Software Trends & Forecasts for 2024

Marketers are still reeling from the effects of the COVID-19 pandemic and the way it shut down conference halls, meeting rooms, and physical events—places where they would usually network and generate quality leads. So, to bridge the demand generation gap during this crisis, it seems lead generation trends are moving online. Digital tools like lead management software, CRM, and video conferencing are all accessible and effective in helping marketers and sales teams transition from in-person to online lead generation.

To help you get a clearer view of where this industry is headed, this article will take a look at current technologies and marketing strategies and provide insights on how they can possibly impact lead generation software trends in 2022 and the following years.

Lead Generation is Now Fully Digital
Use of Video Conferencing and Live Chat
More Video Content Marketing
Increased Use of Chatbots
Popularization of Influencer Marketing
AI for Lead Generation

Voice and Local Search Optimization
Value-Based Selling Is the New Standard
Email Lead Generation
Use of Social Media for Generating Leads
CRM Tools Are More Advanced

It’s still uncertain how much longer marketers will need to avoid in-person networking and do most of their lead generation activities online. For now and in 2022, the new normal is virtual and it’s not that new for marketers as revealed in recent reports.

A big percentage of marketers surveyed showed that many are already using digital tools even before the pandemic forced businesses to bring their operations online. Among the technologies being used by marketers are CRM software (68%), mobile campaign management (68%), marketing automation software (67%), social listening (67%), Internet of Things (66%), and AI (51%) (Salesforce, n.d.).

Meanwhile, another study revealed that virtual lead generation has many benefits. 73% of B2B companies, for instance, agree that a webinar is one of the best ways to generate leads. Also, virtual meets or webinars actually have a higher attendance rate—40 to 50% (GotoWebinar, n.d.). This said, it makes sense that the lead generation software trends outlined below take advantage of virtual and digital solutions.

1. Lead Generation is Now Fully Digital

Marketers were forced to abandon or shift most of their in-person lead generation activities online due to the COVID-19 pandemic. Though global vaccine rollout continues to intensify and more than half (56.8%) of the world population has received at least one dose of a COVID-19 vaccine, it’s still uncertain when the pandemic will really come to a close and businesses can go back to full-blast in-person events or even handshakes.

Canceled events and conferences led 43.42% of B2B marketers to re-allocate their in-person event project budgets to digital marketing channels (Ironpaper, 2021). As a result, digital lead generation practices picked up throughout 2021, and with new variants of the coronavirus constantly emerging, businesses still expect online activities to continue throughout 2023. In fact, when asked about their thoughts on remote or online interactions, 70% to 80% of B2B decision-makers actually prefer the new digital reality (McKinsey, 2020). Some of the reasons they cited include safety, ease of scheduling, and savings on travel expenses.

Reallocated In-Person Event Budgets Due to COVID-19 as of March 2021

Digital Marketing (email, SEO, inbound, etc.)

Online Advertising (social media ads, Google ads, PPC, etc.)

Marketing technology (automation, chatbots, etc.)

Digital events (sponsorships, speaking, etc.)

Creating content (webinars, video, eBooks, etc.)

Source: Ironpaper, 2021

43.42% of in-person event budgets were re-allocated to digital marketing channels in 2021.
The majority (70-80%) of B2B decision-makers prefer digital or remote human interactions.
With the pandemic’s end still far from sight, digital lead generation is expected to continue and dominate marketing activities throughout 2023.

2. Use of Video Conferencing and Live Chat

The pandemic boosted the use of video conferencing and live chat applications as remote work surged in the past two years. Sales-related video conferencing that replaced in-person sales was up by as much as 53% in March 2020 (Resultist Consulting, 2021). Businesses might have been reluctant at first to shift their entire teams online and take full advantage of digital tools but the benefits have certainly convinced many to accept a future with fewer phone calls and more online interaction with video.

For example, businesses save $2,000 to $7,000 annually on travel expenses per employee using video conference tools (Resultist Consulting, 2021). Moreover, about 25% of employees surveyed believed that their organizations will be diverting 41% to 50% of their travel volume to video conferencing (Business Travel News, 2020).

As for live chat, the use of the technology soared up to 49% in March 2020 (Resultist Consulting, 2021). Live chat has always been an effective tool for businesses to reach their customers instantly with 66% of businesses using it for customer service, it became even more crucial when the pandemic broke. This explains why 85% of B2B companies will opt for live chat support by 2022 (99 Firms, n.d.). With clear benefits to sales and overall business operations, video conferencing and live chat will certainly become one of the biggest lead generation software trends in the next years and we can expect more businesses to use these digital tools in the future.

The use of video conferencing and live chat increased due to the pandemic.
Organizations are highly likely to continue using video conferencing to save on expenses like travel costs.
With clear benefits, businesses are more willing to increase the use of live chat and video conferencing technology in their operations.

3. More Video Content Marketing

With video accounting for 82% of online traffic by 2022 (Cisco, 2020), it would be unwise not to include video content marketing in any lead generation strategy for the long term. In fact, 84% of video marketers say video has been effective for generating leads while 94% agree that it has helped customers understand their product or service. When it comes to results, 78% of marketers report that video has positively impacted their company’s bottom line (Hubspot, 2021).

But it’s not only marketers attesting to video’s effectiveness in drawing their audience. 69% of consumers themselves also said that short videos are their preferred way of learning about a product or service (Hubspot, 2021). There are more video content marketing statistics that can provide details on just how huge the impact of video is when it comes to marketing and connecting with customers today and in the future. But the important thing is to start incorporating video now into your lead generation strategy if you haven’t done so.

What Marketers Say About Video for Lead Generation

Source: Hubspot, 2021

Video is projected to account for 82% of online traffic by 2022.
Marketers agree that video is effective in lead generation.
Customers prefer short videos to understand a product or service.

4. Increased Use of Chatbots

Chatbots have proven their usefulness in generating leads and helping businesses understand, segment, and build relationships with their customers. That’s why they are also the fastest-growing brand communication channel, with 24% of buyers using chatbots to communicate with businesses (Startup Bonsai, 2021). Also, 74% of users of a product or service prefer chatbots while looking for answers to simple questions (Simplr, 2021).

Businesses, on the other hand, save as much as 30% in customer service costs by implementing chatbots. Plus, chatbots have been effective in pushing sales with 27% and 22% of consumers using them to buy basic items and get ideas for purchases, respectively (Invesp, n.d.). That’s why it’s not surprising to learn that chatbots will drive growth in consumer retail of up to $142 million by 2024. Though there are still challenges to using the technology, we can expect more companies to implement AI-powered chatbots to stay competitive and improve their marketing and customer services.

Chatbots are the fastest-growing brand communication channel with 24% of buyers using chatbots to communicate with businesses.
74% of users of a product or service prefer chatbots while looking for answers to simple questions.
Chatbots are predicted to drive growth in consumer retail of up to $142 million by 2024.

5. Popularization of Influencer Marketing

Influencer marketing has been one of the most popular marketing trends since brands realized that they can leverage the influence of social media personalities to get leads and promote their products and services. As more and more people tune into social media platforms, influencers seem to have a stronger hold of their followers compared to celebrities and TV personalities. Just think about this: 92% of consumers trust recommendations from friends, family, and influencers (Aspire, 2020).

If there have been doubts about influencer marketing and people thought it was a passing fad, that is certainly not happening anytime soon. Based on projections, the influencer marketing market size will reach $13.8 billion in 2021 (Influencer Marketing Hub, 2021). Also, there are actually more internet users that said they rely on posts and reviews from expert bloggers (16%) and vlogs (14%) more than celebrities (15%) when finding out about new products, brands, or services (GWI, 2021).

How Internet Users Find Out About New Brands/Products/Services

Source: GlobalWebIndex Report: Influencer Marketing 2021

92% of consumers trust recommendations from friends, family, and influencers.
The influencer marketing market size will reach $13.8 billion in 2021.
Chatbots are predicted to drive growth in consumer retail of up to $142 million by 2024.
More internet users rely on vlogs and bloggers when researching new brands, products, and services.

6. AI for Lead Generation

Artificial intelligence (AI) aids in lead generation and customer service in many ways, such as customer behavior analysis, market research, lead scoring, and automation. AI can also analyze images and responses of individuals to detect their hobbies, interests, etc. to make better recommendations and provide a more personalized customer journey. These capabilities have delivered such impressive results, including 59% more sales closings, 54% more traffic and engagement, and a 52% higher conversion rate (DIYMarketers, 2021).

Among marketers, 84% already reported using AI in 2020 from only 29% in 2018—that’s a 186% year-over-year growth (Salesforce, 2020). We can expect the trend of using AI in marketing and lead generation to continue throughout 2022 based on the projection by the IDC that global spending on artificial intelligence software, hardware, and services could exceed $340 billion by end of 2021 (IDC, 2021). The global AI market, meanwhile, is expected to become a $190 billion industry by 2025 (MarketsandMarkets, 2021).

There’s been a 186% YOY increase in the use of AI among marketers from 2018 to 2020.
AI adoption will continue to increase as AI investments exceed $340 billion in 2021.
The global AI market is projected to be worth $190 billion by 2025.

7. Voice and Local Search Optimization

Advancements in speech recognition technology have put the focus on voice search in search marketing. More than half (51%) of Americans used voice search on their smartphones, while 24% used voice assistants on their TV or TV remote. Overall, 63% said they use voice assistants on any device (National Public Media, 2020).

Moreover, projections indicate that the number of digital voice assistants in use will reach 8.4 billion units by 2024—much higher than the world’s population (Business Wire, 2020).

So what are people searching for? Turns out 46% of all Google searches are looking for local information and search terms like “near me” and “close by” jumped 900% in the past two years (Hubspot Marketing Report, 2021). With these data and statistics, marketers must now consider optimizing for voice and local search if they want to get more qualified leads and target people who are actually searching for the products or services they are selling.

More than half (51%) of Americans used voice search on their smartphones.
The number of voice assistants in use will outnumber the world population at 8.4 billion by 2024.
46% of all Google searches are looking for local information.

8. Value-Based Selling Is the New Standard

According to 79% of marketers, generating good quality leads is their top priority (eMarketer, 2021). This is evident in the amount of advertising money being poured into digital lead generation—estimated to reach $3.2 billion by the end of 2023 (eMarketer, 2019).

One of the emerging lead generation strategies in 2022 you can implement to achieve this goal is value-based selling. It is a strategy where salespeople focus on benefitting the customers throughout the sales process rather than prioritizing closing deals. By focusing on the needs of each lead and finding out more about their business pain points using real-time data, marketers and sales teams can outline exactly how their product or service can benefit their clients.

As a result, the value-based selling approach can be a far more effective strategy to keep leads interested and loyal to the company’s brand—and customer loyalty is an extremely valuable aspect of the business. So much so that experts see driving retail customer loyalty as a viable COVID recovery strategy. Moreover, 60% of loyal customers will purchase more frequently from their preferred companies (Hubspot, n.d.)

Why Loyal Customers Mean Better Business

Of companies agreeing that customer retention is cheaper than acquisition

Of a company’s repeat business comes from existing customers

Of loyal customers will purchase more frequently from their preferred companies

Source: Hubspot/Smallbizgenius, 2021

Spending on digital lead generation is projected to reach $3.2 billion by the end of 2023.
Value-based selling can be a more effective approach to keeping leads and creating loyal customers.
82% of companies agree that customer retention is cheaper than acquisition.

9. Email Lead Generation

Email sounds old school in these times of instant messaging and mobile apps. But don’t cross it out from your list of lead generation strategies just yet. That’s because the number of global e-mail users will reach a whopping 4.6 billion in 2025 (The Radicati Group, 2021). This growth indicates that email is still and will continue to be a huge part of online life and will push many more marketers to rely on email marketing software solutions.

When it comes to the effectiveness of email, lead generation statistics show that for every dollar invested in email marketing, marketers got $36 in return. Among different industries, retail, ecommerce, and consumer goods got the highest ROI with $45 per one dollar spent. The estimated worldwide revenue for email marketing is projected to reach $10.89 billion in 2023 and go all the way up to $17.9 billion in 2027 (Reportlinker, 2021).

Global e-mail users will reach 4.6 billion in 2025.
For every dollar invested in email marketing, marketers receive $36 ROI.
Worldwide revenue for email marketing is projected to reach $10.89 billion in 2023 and go all the way up to $17.9 billion in 2027.

10. Use of Social Media for Generating Leads

No lead generation strategy is complete without social media. Social media platforms offer some of the best opportunities for marketers to actually acquire information from potential customers already searching for or are interested in their products. The key is to choose the platforms that are most likely to connect you to your intended audience.

For example, with B2B lead generation, 97% of marketers use LinkedIn for their content marketing (Everyonesocial, 2021). On the other hand, B2C marketers will most likely produce better quality leads if they go to YouTube and Facebook—the top two platforms in terms of web traffic volume with almost 5.5 billion and 2.7 billion, respectively. The two social media platforms also have the most number of registered active users. Facebook has more than 2.89 billion monthly active users, while YouTube has 2.29 billion (Data Reportal, 2021).

Top Global Social Media Platforms 2021

Web Traffic Volume

YouTube

Facebook

Twitter

Instagram

Source: Ahrefs, 2021

97% of marketers use LinkedIn for their content marketing.
B2C marketers can get the best leads from Youtube and Facebook, the top two platforms in terms of web traffic volume and active number of users.

11. CRM Tools Are More Advanced

In lead generation, marketers need to identify potential clients, nurture them with the right strategies, and eventually convert those leads into paying clients. However, things are not that simple, especially when marketers need to contend with a flood of data to qualify leads, track them, and nurture them through the sales process. This is where CRM software steps in.

A robust CRM helps marketers analyze large volumes of data quickly, qualify leads based on their characteristics, and suggest the most appropriate marketing techniques for a particular lead to maximize conversion. Most companies report that for every $1 spent on their CRM solutions, they generate $8.71 in increased revenue, or over an 800% ROI on their CRM (Salesforce, n.d.).

Trends will continue to move towards the use of advanced CRM platforms that leverage artificial intelligence, machine learning, and predictive analysis to help marketers make sense of the data they collect and do this more efficiently. Mobile CRM and CRM software that seamlessly integrates with other business intelligence apps like marketing technology also separate traditional CRM from enterprise-level products. Currently, 52% of companies surveyed already have full CRM and marketing software integration.

Source: Salesforce

For every $1 spent on their CRM solutions, companies generate $8.71 in increased revenue.
CRM trends will include more companies using mobile CRM and platforms that leverage advanced technologies like AI, machine learning, and predictive analysis.
Among surveyed companies, 52% already have full CRM and marketing software integration.

What Is the Future of Lead Generation?

The quick developments and updates in technologies used in marketing and the uncertainties surrounding the global health crisis make it hard to really predict what the future of lead generation is, but we can take clues from the data and statistics we have on hand. As revealed in the trends highlighted above, B2B decision-makers prefer online lead generation for the many benefits and savings it presents to their companies.

As for marketers, digital lead generation will be the reality—pandemic or not. Switching from traditional lead generation to digital methods can be challenging and frustrating since you have to learn lead generation best practices and how to generate leads using new processes and technologies. But the benefits can definitely outweigh the inconveniences.

References:

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By Louie Andre

B2B & SaaS market analyst and senior writer for FinancesOnline. He is most interested in project management solutions, believing all businesses are a work in progress. From pitch deck to exit strategy, he is no stranger to project business hiccups and essentials. He has been involved in a few internet startups including a digital route planner for a triple A affiliate. His advice to vendors and users alike? "Think of benefits, not features."