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10 Effective and Low-Cost Lead Generation Strategies to Attract More Customers

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10 Effective and Low-Cost Lead Generation Strategies to Attract More Customers

No matter your industry or company size, you’re always looking to bring in more leads. However, finding ways to attract more potential customers isn’t always easy—especially when you don’t have a huge marketing budget to work with. The good news? You don’t always have to spend much money to bring in qualified leads. In fact, plenty of inexpensive yet extremely effective lead generation tactics can work for any business, so long as you’re willing to put in the time and effort to carry them out.

Key Takeaways

  • Focus on email marketing and encourage people to sign up for your mailing lists with exclusive content, special deals, webinars, contests, and more.
  • Attend industry events, including conferences and trade shows, to network with others and generate leads.
  • Aim to create more quality, shareable content for your company blog.
  • Leverage your reviews and testimonials to bring in new leads. Don’t be afraid to ask past or current customers to write reviews.
  • Make sure your website landing pages feature strong calls to action.

The Importance of Cost-Effective Lead Generation Strategies

Lead generation refers to your business’s strategies to bring in new potential customers as part of your sales funnel. While the act of generating new leads only sometimes results in paying customers, bringing in new leads is important because this is where your new customers come from. Without strong lead generation strategies, the growth of your business may fall stagnant, and you may have a hard time expanding.

At the same time, the cost of acquiring new customers can be high. While costs can vary by industry, it’s not uncommon for businesses to spend an average of around $200 for each new lead. If this sounds steep to you or outside of your company’s budget, you may need to get a little more creative with your lead generation process.

Fortunately, there are plenty of ways to generate leads without completely blowing up your marketing budget.

Cost-Effective Lead Generation Strategies

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So, where do you begin when it comes to building an affordable lead generation plan for your business? Check out the ideas below and see which ones resonate best with your marketing and sales teams. These ideas should cost very little to nothing for your business to execute—though some may require a bit more time than others.

1. Host a Webinar

Webinars and other virtual events can be a great way to generate interest in your brand while also positioning yourself as an authority figure within your industry. No matter what industry you’re in, there’s a good chance you have something unique and interesting to share with your customers. Maybe you have a new product that’s launching and that you want to give customers a sneak peek of—or perhaps you just want to share some exciting industry news and insights with your followers.

Regardless, a webinar is an excellent way to hold a special event without having to rent out a physical event space, pay for attendees’ food, or incur other costs. Meanwhile, you can still require advance registration to attend the event, which is a great opportunity to collect email addresses for lead generation. Be sure to share the details (and registration link) with your audience well in advance, not just on your website but on social media as well. This will give everybody plenty of time to register and will also help to generate hype for the event itself.

2. Offer Exclusive Content

Another budget-friendly way to generate high-quality leads is to offer exclusive content to people in exchange for their email addresses or other contact information. If you already have a decent following with your company blog (more on this later) or a lot of engagement with your social media posts, then people obviously care about what you have to say. Why not take advantage of this by creating some exclusive content that is only available to those who are on your email list?

You don’t need to spend much money or resources on this content. You might consider, for example, writing a few blog posts that you don’t publish directly to your blog and instead share only with your email list. You could also create an exclusive eBook, white paper, or other downloadable content that may entice target customers to provide you with their email addresses or other contact information. Get creative with this content, have some fun with it, and you might be surprised at the results.

3. Hold a Contest or Giveaway

If you’re looking for a cost-effective lead generation strategy for drumming up interest in your brand while potentially bringing in some leads in the process, it doesn’t get much simpler than hosting a special contest or giveaway. You probably see this all the time on social media; a company creates a post announcing that they are holding a contest. To be entered, users must “like” and “share” the post (or something similar). From there, a random drawing is done to determine the winner.

These kinds of contests are extremely effective at bringing in more leads while spreading awareness of your brand, especially if you require users to “share” your post to enter. Likewise, you don’t need to spend a lot of money to hold a contest that will get people excited. Something as simple as giving away promotional items (like a custom-printed shirt with your brand logo on them) can go a long way here. If you want to be a little more generous, you could give away a free product/service or offer a special discount to the winner. The possibilities are endless here—and this is a great way to use social media to your advantage.

4. Start (or Improve) a Company Blog

If you don’t already have a company blog, this should actually be at the top of your priority list if you’re serious about boosting your lead gen strategy. First of all, if you already have a business website, then a company blog should hardly cost you anything to add. Likewise, blogging is a great way to boost your search engine optimization (SEO), especially when you’re writing quality content that your target audience is genuinely interested in.

If you already have a company blog, it may be time to shift your focus so that you’re regularly churning out more blog posts. Blogging can be great for lead gen because it gets people talking about your brand while also establishing your company as a stronger authority or thought leader within your industry. Meanwhile, as people read your blog posts and share them on social media, this creates the potential to bring in new website visitors.

If you want to take your blogging to the next level, set aside some time with your marketing team to brainstorm unique and engaging topic ideas. Try focusing on blog topics that haven’t been covered by your competitors before—or take a unique spin on an existing topic to capture your readers’ attention.

5. Attend Networking Events

If you’re serious about ramping up your lead generation efforts, then it may be time to start attending some in-person and virtual networking events. This can include industry conferences, trade shows, and even local meet-and-greets with other businesses in your area. These events provide you with an incredible opportunity to network with others in your field while meeting some qualified leads in the process.

Depending on your budget, you might even consider renting out a booth or other display to represent your company at the event and attract more people to come to talk to you. This can spread awareness of your brand while boosting your networking opportunities in the process. You may also be able to get more people to come to your display by giving out free promotional items, which can also increase awareness of your brand and thus improve your lead generation.

Yes, some events and trade shows can cost your business a pretty penny to attend. In fact, this is probably one of the most expensive lead generation ideas on this list. However, seeing these as opportunities to invest in your business is important, as the benefits you can reap from attending an industry event are huge.

6. Contribute to a Cause

You may also want to consider supporting a charitable cause as part of your marketing strategy. This is a great way to help a cause that’s important to you while also painting your business in a favourable light and potentially drumming up some leads in the process. Charitable causes are effective at generating new leads because these generate a lot of buzz around your company, which could lead to more website visitors.

Many companies, for example, will choose a cause and announce that they will donate a certain percentage of their sales to that cause during a specific period of time. Even if you donate just 2% of your sales to this cause, this can be a way to motivate more people to purchase from your company or to support you in other ways (such as by sharing your announcement on social media).

If you decide to contribute to a cause, just be sure that you’re being as transparent as possible about how long the promotion is going on, any exclusions that may apply, and exactly how much of each sale is being contributed to the cause itself. This will help you build trust with your customers and potential customers, which will always reflect well on your brand.

7. Get People Talking on Social Media

How active is your brand on social media? Nowadays, just having social media accounts for your business pages is not enough. You should have a detailed content calendar that dictates exactly what you’ll post and on what date. This way, you can be sure that you’re always keeping your social media content fresh.

Getting people talking and engaging with your brand on social media is important for lead generation because it helps to build relationships with potential customers. This, in addition to sharing links to your website regularly, can increase the chances of people signing up for an email list or otherwise providing you with their contact information.

Take the time not only to post regularly on social media but to respond to comments and direct messages, too. This doesn’t have to cost you anything other than your time, but it can make all the difference.

8. Offer a Special Discount or Trial

While it may seem counterintuitive to offer a discount on your products or services as a means of bringing in qualified leads inexpensively, the reality is that this strategy is extremely effective. You don’t have to give your product or service away for free—but even a small discount of 10% can make all the difference to somebody who may be on the fence about purchasing your product. In some cases, offering a free trial period of two weeks may also be worth it in the long run.

If you decide to offer special discounts or free trials as a lead generation idea, the most important thing is to require contact information (such as a valid email address) to activate the offer. Meanwhile, you can make the offer more enticing by using words like “exclusive” or “limited.”

9. Ask Customers to Leave Reviews

Online reviews can be extremely effective lead generation tools. In fact, studies have found that 93% of today’s consumers read online reviews before making a purchase. If your business doesn’t have a lot of online reviews, this could actually be scaring off potential leads and customers. The good news? Getting reviews doesn’t cost you anything; one of the best ways to encourage reviews is to personally reach out to past/current customers and ask them to leave a review of their experience with your brand. You can even provide a direct link to a review page to make this easier for them.

Likewise, testimonials are powerful tools for inbound lead generation. When a customer writes a detailed and glowing testimonial of their experience with your company, you can ask for their permission to share it on social media and on your website. These testimonials could very well be what converts a new lead!

10. Add Clear Calls to Action

Finally, ensure that you have plenty of clear calls to action (CTAs) throughout your website and on every landing page. All too often, this is something that businesses overlook as part of their lead generation strategies—and it can really backfire when it comes to bringing in sales leads.

Specifically, CTAs should be on an easily visible part of every landing page on your website and your home page. A strong CTA should include language that encourages readers to provide their information to sign up for an email list or similar program. However, CTAs should not just be limited to your website. Make sure they’re also clearly included on your social media posts, LinkedIn profile (if you have one for your business), and any blog post you publish. CTAs can be extremely effective at capturing leads, but they can only work if you use them!

Try These Lead Generation Strategies Today

1678210000 640 10 Effective and Low Cost Lead Generation Strategies to Attract More

Whether you’re looking to scale back on your marketing costs or are simply looking to build lead generation strategies that are affordable and sustainable, these actionable tips are a great place to start. While you certainly don’t need to implement all these ideas at once, choosing a handful that you can focus on with your sales and marketing teams may be a good idea. From there, you can measure the performance of each lead generation strategy to refine and build upon your lead generation plan over time. As you optimize your lead generation campaigns, your business will reap the benefits of high-quality leads and (hopefully) a boost in conversions—all of which are beneficial to your bottom line and will help your business take off!

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Why We Are Always ‘Clicking to Buy’, According to Psychologists

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Why We Are Always 'Clicking to Buy', According to Psychologists

Amazon pillows.

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A deeper dive into data, personalization and Copilots

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A deeper dive into data, personalization and Copilots

Salesforce launched a collection of new, generative AI-related products at Connections in Chicago this week. They included new Einstein Copilots for marketers and merchants and Einstein Personalization.

To better understand, not only the potential impact of the new products, but the evolving Salesforce architecture, we sat down with Bobby Jania, CMO, Marketing Cloud.

Dig deeper: Salesforce piles on the Einstein Copilots

Salesforce’s evolving architecture

It’s hard to deny that Salesforce likes coming up with new names for platforms and products (what happened to Customer 360?) and this can sometimes make the observer wonder if something is brand new, or old but with a brand new name. In particular, what exactly is Einstein 1 and how is it related to Salesforce Data Cloud?

“Data Cloud is built on the Einstein 1 platform,” Jania explained. “The Einstein 1 platform is our entire Salesforce platform and that includes products like Sales Cloud, Service Cloud — that it includes the original idea of Salesforce not just being in the cloud, but being multi-tenancy.”

Data Cloud — not an acquisition, of course — was built natively on that platform. It was the first product built on Hyperforce, Salesforce’s new cloud infrastructure architecture. “Since Data Cloud was on what we now call the Einstein 1 platform from Day One, it has always natively connected to, and been able to read anything in Sales Cloud, Service Cloud [and so on]. On top of that, we can now bring in, not only structured but unstructured data.”

That’s a significant progression from the position, several years ago, when Salesforce had stitched together a platform around various acquisitions (ExactTarget, for example) that didn’t necessarily talk to each other.

“At times, what we would do is have a kind of behind-the-scenes flow where data from one product could be moved into another product,” said Jania, “but in many of those cases the data would then be in both, whereas now the data is in Data Cloud. Tableau will run natively off Data Cloud; Commerce Cloud, Service Cloud, Marketing Cloud — they’re all going to the same operational customer profile.” They’re not copying the data from Data Cloud, Jania confirmed.

Another thing to know is tit’s possible for Salesforce customers to import their own datasets into Data Cloud. “We wanted to create a federated data model,” said Jania. “If you’re using Snowflake, for example, we more or less virtually sit on your data lake. The value we add is that we will look at all your data and help you form these operational customer profiles.”

Let’s learn more about Einstein Copilot

“Copilot means that I have an assistant with me in the tool where I need to be working that contextually knows what I am trying to do and helps me at every step of the process,” Jania said.

For marketers, this might begin with a campaign brief developed with Copilot’s assistance, the identification of an audience based on the brief, and then the development of email or other content. “What’s really cool is the idea of Einstein Studio where our customers will create actions [for Copilot] that we hadn’t even thought about.”

Here’s a key insight (back to nomenclature). We reported on Copilot for markets, Copilot for merchants, Copilot for shoppers. It turns out, however, that there is just one Copilot, Einstein Copilot, and these are use cases. “There’s just one Copilot, we just add these for a little clarity; we’re going to talk about marketing use cases, about shoppers’ use cases. These are actions for the marketing use cases we built out of the box; you can build your own.”

It’s surely going to take a little time for marketers to learn to work easily with Copilot. “There’s always time for adoption,” Jania agreed. “What is directly connected with this is, this is my ninth Connections and this one has the most hands-on training that I’ve seen since 2014 — and a lot of that is getting people using Data Cloud, using these tools rather than just being given a demo.”

What’s new about Einstein Personalization

Salesforce Einstein has been around since 2016 and many of the use cases seem to have involved personalization in various forms. What’s new?

“Einstein Personalization is a real-time decision engine and it’s going to choose next-best-action, next-best-offer. What is new is that it’s a service now that runs natively on top of Data Cloud.” A lot of real-time decision engines need their own set of data that might actually be a subset of data. “Einstein Personalization is going to look holistically at a customer and recommend a next-best-action that could be natively surfaced in Service Cloud, Sales Cloud or Marketing Cloud.”

Finally, trust

One feature of the presentations at Connections was the reassurance that, although public LLMs like ChatGPT could be selected for application to customer data, none of that data would be retained by the LLMs. Is this just a matter of written agreements? No, not just that, said Jania.

“In the Einstein Trust Layer, all of the data, when it connects to an LLM, runs through our gateway. If there was a prompt that had personally identifiable information — a credit card number, an email address — at a mimum, all that is stripped out. The LLMs do not store the output; we store the output for auditing back in Salesforce. Any output that comes back through our gateway is logged in our system; it runs through a toxicity model; and only at the end do we put PII data back into the answer. There are real pieces beyond a handshake that this data is safe.”

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Why The Sales Team Hates Your Leads (And How To Fix It)

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Why The Sales Team Hates Your Leads (And How To Fix It)

Why The Sales Team Hates Your Leads And How To

You ask the head of marketing how the team is doing and get a giant thumbs up. 👍

“Our MQLs are up!”

“Website conversion rates are at an all-time high!”

“Email click rates have never been this good!”

But when you ask the head of sales the same question, you get the response that echoes across sales desks worldwide — the leads from marketing suck. 

If you’re in this boat, you’re not alone. The issue of “leads from marketing suck” is a common situation in most organizations. In a HubSpot survey, only 9.1% of salespeople said leads they received from marketing were of very high quality.

Why do sales teams hate marketing-generated leads? And how can marketers help their sales peers fall in love with their leads? 

Let’s dive into the answers to these questions. Then, I’ll give you my secret lead gen kung-fu to ensure your sales team loves their marketing leads. 

Marketers Must Take Ownership

“I’ve hit the lead goal. If sales can’t close them, it’s their problem.”

How many times have you heard one of your marketers say something like this? When your teams are heavily siloed, it’s not hard to see how they get to this mindset — after all, if your marketing metrics look strong, they’ve done their part, right?

Not necessarily. 

The job of a marketer is not to drive traffic or even leads. The job of the marketer is to create messaging and offers that lead to revenue. Marketing is not a 100-meter sprint — it’s a relay race. The marketing team runs the first leg and hands the baton to sales to sprint to the finish.

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via GIPHY

To make leads valuable beyond the vanity metric of watching your MQLs tick up, you need to segment and nurture them. Screen the leads to see if they meet the parameters of your ideal customer profile. If yes, nurture them to find out how close their intent is to a sale. Only then should you pass the leads to sales. 

Lead Quality Control is a Bitter Pill that Works

Tighter quality control might reduce your overall MQLs. Still, it will ensure only the relevant leads go to sales, which is a win for your team and your organization.

This shift will require a mindset shift for your marketing team: instead of living and dying by the sheer number of MQLs, you need to create a collaborative culture between sales and marketing. Reinforce that “strong” marketing metrics that result in poor leads going to sales aren’t really strong at all.  

When you foster this culture of collaboration and accountability, it will be easier for the marketing team to receive feedback from sales about lead quality without getting defensive. 

Remember, the sales team is only holding marketing accountable so the entire organization can achieve the right results. It’s not sales vs marketing — it’s sales and marketing working together to get a great result. Nothing more, nothing less. 

We’ve identified the problem and where we need to go. So, how you do you get there?

Fix #1: Focus On High ROI Marketing Activities First

What is more valuable to you:

  • One more blog post for a few more views? 
  • One great review that prospective buyers strongly relate to?

Hopefully, you’ll choose the latter. After all, talking to customers and getting a solid testimonial can help your sales team close leads today.  Current customers talking about their previous issues, the other solutions they tried, why they chose you, and the results you helped them achieve is marketing gold.

On the other hand, even the best blog content will take months to gain enough traction to impact your revenue.

Still, many marketers who say they want to prioritize customer reviews focus all their efforts on blog content and other “top of the funnel” (Awareness, Acquisition, and Activation) efforts. 

The bottom half of the growth marketing funnel (Retention, Reputation, and Revenue) often gets ignored, even though it’s where you’ll find some of the highest ROI activities.

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Most marketers know retaining a customer is easier than acquiring a new one. But knowing this and working with sales on retention and account expansion are two different things. 

When you start focusing on retention, upselling, and expansion, your entire organization will feel it, from sales to customer success. These happier customers will increase your average account value and drive awareness through strong word of mouth, giving you one heck of a win/win.

Winning the Retention, Reputation, and Referral game also helps feed your Awareness, Acquisition, and Activation activities:

  • Increasing customer retention means more dollars stay within your organization to help achieve revenue goals and fund lead gen initiatives.
  • A fully functioning referral system lowers your customer acquisition cost (CAC) because these leads are already warm coming in the door.
  • Case studies and reviews are powerful marketing assets for lead gen and nurture activities as they demonstrate how you’ve solved identical issues for other companies.

Remember that the bottom half of your marketing and sales funnel is just as important as the top half. After all, there’s no point pouring leads into a leaky funnel. Instead, you want to build a frictionless, powerful growth engine that brings in the right leads, nurtures them into customers, and then delights those customers to the point that they can’t help but rave about you.

So, build a strong foundation and start from the bottom up. You’ll find a better return on your investment. 

Fix #2: Join Sales Calls to Better Understand Your Target Audience

You can’t market well what you don’t know how to sell.

Your sales team speaks directly to customers, understands their pain points, and knows the language they use to talk about those pains. Your marketing team needs this information to craft the perfect marketing messaging your target audience will identify with.

When marketers join sales calls or speak to existing customers, they get firsthand introductions to these pain points. Often, marketers realize that customers’ pain points and reservations are very different from those they address in their messaging. 

Once you understand your ideal customers’ objections, anxieties, and pressing questions, you can create content and messaging to remove some of these reservations before the sales call. This effort removes a barrier for your sales team, resulting in more SQLs.

Fix #3: Create Collateral That Closes Deals

One-pagers, landing pages, PDFs, decks — sales collateral could be anything that helps increase the chance of closing a deal. Let me share an example from Lean Labs. 

Our webinar page has a CTA form that allows visitors to talk to our team. Instead of a simple “get in touch” form, we created a drop-down segmentation based on the user’s challenge and need. This step helps the reader feel seen, gives them hope that they’ll receive real value from the interaction, and provides unique content to users based on their selection.

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So, if they select I need help with crushing it on HubSpot, they’ll get a landing page with HubSpot-specific content (including a video) and a meeting scheduler. 

Speaking directly to your audience’s needs and pain points through these steps dramatically increases the chances of them booking a call. Why? Because instead of trusting that a generic “expert” will be able to help them with their highly specific problem, they can see through our content and our form design that Lean Labs can solve their most pressing pain point. 

Fix #4: Focus On Reviews and Create an Impact Loop

A lot of people think good marketing is expensive. You know what’s even more expensive? Bad marketing

To get the best ROI on your marketing efforts, you need to create a marketing machine that pays for itself. When you create this machine, you need to think about two loops: the growth loop and the impact loop.

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  • Growth loop — Awareness ➡ Acquisition ➡ Activation ➡ Revenue ➡ Awareness: This is where most marketers start. 
  • Impact loop — Results ➡ Reviews ➡ Retention ➡ Referrals ➡ Results: This is where great marketers start. 

Most marketers start with their growth loop and then hope that traction feeds into their impact loop. However, the reality is that starting with your impact loop is going to be far more likely to set your marketing engine up for success

Let me share a client story to show you what this looks like in real life.

Client Story: 4X Website Leads In A Single Quarter

We partnered with a health tech startup looking to grow their website leads. One way to grow website leads is to boost organic traffic, of course, but any organic play is going to take time. If you’re playing the SEO game alone, quadrupling conversions can take up to a year or longer.

But we did it in a single quarter. Here’s how.

We realized that the startup’s demos were converting lower than industry standards. A little more digging showed us why: our client was new enough to the market that the average person didn’t trust them enough yet to want to invest in checking out a demo. So, what did we do?

We prioritized the last part of the funnel: reputation.

We ran a 5-star reputation campaign to collect reviews. Once we had the reviews we needed, we showcased them at critical parts of the website and then made sure those same reviews were posted and shown on other third-party review platforms. 

Remember that reputation plays are vital, and they’re one of the plays startups often neglect at best and ignore at worst. What others say about your business is ten times more important than what you say about yourself

By providing customer validation at critical points in the buyer journey, we were able to 4X the website leads in a single quarter!

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So, when you talk to customers, always look for opportunities to drive review/referral conversations and use them in marketing collateral throughout the buyer journey. 

Fix #5: Launch Phantom Offers for Higher Quality Leads 

You may be reading this post thinking, okay, my lead magnets and offers might be way off the mark, but how will I get the budget to create a new one that might not even work?

It’s an age-old issue: marketing teams invest way too much time and resources into creating lead magnets that fail to generate quality leads

One way to improve your chances of success, remain nimble, and stay aligned with your audience without breaking the bank is to create phantom offers, i.e., gauge the audience interest in your lead magnet before you create them.

For example, if you want to create a “World Security Report” for Chief Security Officers, don’t do all the research and complete the report as Step One. Instead, tease the offer to your audience before you spend time making it. Put an offer on your site asking visitors to join the waitlist for this report. Then wait and see how that phantom offer converts. 

This is precisely what we did for a report by Allied Universal that ended up generating 80 conversions before its release.

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The best thing about a phantom offer is that it’s a win/win scenario: 

  • Best case: You get conversions even before you create your lead magnet.
  • Worst case: You save resources by not creating a lead magnet no one wants.  

Remember, You’re On The Same Team 

We’ve talked a lot about the reasons your marketing leads might suck. However, remember that it’s not all on marketers, either. At the end of the day, marketing and sales professionals are on the same team. They are not in competition with each other. They are allies working together toward a common goal. 

Smaller companies — or anyone under $10M in net new revenue — shouldn’t even separate sales and marketing into different departments. These teams need to be so in sync with one another that your best bet is to align them into a single growth team, one cohesive front with a single goal: profitable customer acquisition.

Interested in learning more about the growth marketing mindset? Check out the Lean Labs Growth Playbook that’s helped 25+ B2B SaaS marketing teams plan, budget, and accelerate growth.


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