Whether you’re a B2B firm generating leads through social media or a B2C eCommerce site generating sales through your website, an effective lead generation strategy expands your opportunities for revenue growth.
B2B Lead Generation Strategy: A Quick Guide
A lead generation strategy is an approach for converting prospects into customers. In the B2B world, where long sales cycles dominate, optimal lead generation strategies determine the difference between success and failure. In B2B lead gen, B2B leads is the term given to those people who have been identified as potential customers for your business. They can be categorized as those who would likely find value from using your product or service. The following are the two types of B2B leads:
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- Marketing-Qualified Leads or MQLs, are leads that are considered very likely to become a paying customer.
- Sales-Qualified Leads or SQLs, are MQLs who have progressed along the funnel and are deemed to be ready for engagement with your sales team.
B2B Lead Generation Strategy: Common Mistakes That Cost You Money
Of course, not all B2B companies have the best lead generation strategies. In fact, some of them have a hard time formulating an effective B2B lead gen strategy that converts potential clients into regular customers. For instance, these are the common mistakes that cost B2B companies money when implementing their lead generation strategies:
Not Defining Your Target Market
Promoting your products/services to just anyone available online isn’t a comprehensive lead generation strategy nor is it an effective marketing strategy. No matter how many people you manage to reach, if they lack the need, money, or desire for your products/services, nothing you do will encourage them to make a purchase.Thus, the first step in your B2B corporate lead generation strategy involves determining your target market and building rich personas that encapsulate more than just the demographics of your ideal customer.
Targeted lead generation also helps businesses create more personalized marketing strategies, which are very effective in attracting new clients and converting existing visitors. To determine who your ideal market is, take the time to research the common traits shared by your current customers and other visitors. Then plan your pitch in a way that targets the decision variables used by these prospects.
No CTA On Every Web Page
A call to action (CTA) is a marketing term that refers to the next step a marketer wants its audience or reader to take. Some B2B corporate lead generation companies tend to overlook this simple approach on their websites resulting in lower leads and sales. ACTA on every page of your website helps guide visitors along the “right” customer journey; one that results in conversion by helping navigate a purchase.
Make sure that all your web pages have a single CTA because it’s easier for your visitors to know exactly what action takes them along the right pathway without forcing them to navigate to a prior page or search for the right conversion pathway. You can also target certain pages of your website for first-time visitors or even offer unique premium or downloadable content for your returning visitors.
Inadequate Following Up
B2B companies are so focused on acquiring new leads that they disregard prospective clients who have already advanced through the pipeline. This inadequate or slow follow-up approach causes them to lose qualified leads that are ready to convert. B2B companies should train their B2B lead gen team to followup on every lead consistently and get in touch with leads routinely to keep the line of communication open.
Marketing and sales tools can also help B2B companies automate follow-up reminders whenever leads move down the funnel for further actions. This way, they will never miss a potential sale.Experts noted that B2B companies following up within 5 minutes of receiving a lead are the most successful.
Ignoring Your Data
Gathering data is one challenging task, analyzing it is another, and implementing changes based on data is a third.It’s genuinely tough because B2B corporate lead generation companies are so busy that no one pauses the treadmill long enough to look at how you can do something better. But that’s a major concern.
If stupidity is doing the same thing every day and expecting good results, well, you need to find time to analyze and act on your data. Make sure that your sales and marketing teams have time to really analyze the data before formulating B2B lead gen strategies in the long run. In that way, you will not waste more time and effort thinking about what went wrong.
Lead generation is too high a priority for B2B companies. It represents a significant chunk of their budget for it to under perform. Unfortunately, there are challenges and obstacles visible in this industry, but the good news is that companies can meet them head-on by following the best solutions presented above. By following these solutions, you’ll watch the number of quality leads soar up and reap the rewards of high conversions.
If you want to know more about the best B2B lead gen strategies, Markable Solutions is here to guide you. We can help you find the perfect lead generation strategies suitable for both your budget and needs. Don’t waste this amazing opportunity. Contact us now!
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