Imagine the customer journey as a snakes and ladders board. Everyone has to cross the board eventually, moving from unaware (start) to most aware (finish). But there are shortcuts.
A ladder is a channel that lets people skip stages. Google search for "Guardey vs Knowbe4" is a ladder. Anyone searching that is already solution-aware (believes security training works), product-aware (considering specific vendors), and comparing options. They've skipped the entire problem awareness and solution education phase. You can reach them directly at 90% readiness.
Cold outbound is not a ladder. When you email someone cold, they're probably problem-aware at best (maybe they know employees are a security risk) or even unaware (haven't thought about it). You need to move them through multiple stages: convince them the problem matters, convince them training is the solution, convince them your training is best, convince them to buy now. That's a long journey.
The insight: ladders are expensive (high CPM, high CPC) but short journeys (fewer touches to close). Long paths are cheap (low CPM, easy to reach) but long journeys (many touches to close). Start with ladders because even though cost per click is high, cost per customer can be low if conversion rates are high.
Ladders in B2B demand generation: competitor comparison searches ("X vs Y"), high-intent searches ("buy security training"), remarketing to website visitors (they've shown intent), referrals from customers (warm intro, skip awareness building).
Long paths in B2B demand generation: cold LinkedIn ads to people who've never heard of you, cold email to scraped lists, content marketing to problem-aware audience, broad industry conference sponsorships.
Start with ladders. Dominate them. Then add long paths as you hit ladder limits. Don't start with long paths because they're cheaper.