The marketing teams of companies across industry verticals are always on the lookout for new ways and plans for generating quality leads. Most renowned marketing heads do not fully understand lead generation, despite it being a crucial aspect of every business. There are several lead prospecting strategies and sales plan models in the market. However even those plans and strategies are not very effective, and most professionals struggle to generate quality leads.
That’s why we’ll offer you seven strategies to improve lead generation for the business-to-business model. On the other hand, there is no exact formula or method for generating qualified leads for your business. Businesses of all sizes across industry verticals can adopt our plans to produce qualified leads through campaigns. Lead generation for business-to-business can be complex, but you can still do it with a perfect strategy and greater resources.
What is B2B lead generation?
B2B lead generation is the process of finding an ideal or potential buyer of your products or services and driving them to make a purchase. The sales and marketing team uses a variety of lead generation plans to attract new clients and guide them toward the sales funnel. The sales process is the backbone of businesses, as it is their source of revenue.
Though lead prospecting is treated as a part of business promotional efforts, It is not restricted to one particular channel. Many of them combine:
Email marketing
Content marketing
Event marketing
Cold-calling
PPC (pay-per-click)
Social media marketing is crucial.
How are B2B leads classified?
The B2B leads are the decision-makers, companies, and businesses, not like the daily customers or individuals in B2C business-to-consumers. They generally have the potential to become clients for business-to-business products and services. However, sometimes our known small businesses or personal contacts also become B2B prospects. Finding business-to-business leads is not as hard as B2C (business-to-customer), but they are tough to convert or push to the sales funnel.
While B2C leads are daily consumers, B2B leads are decision-makers and procurement officers or dealers. The sales department can only work with business-to-business leads with a person on the other end. Therefore, only generating leads isn’t a solution; you need qualified leads from genuine sources to skyrocket your company’s conversion rate. Like:
- 1. Marketing Qualified Leads:
The potential prospects who are most likely to purchase goods and services and are tracked by your marketing department are known as marketing qualified leads (MQLs). They are not ready to buy your products yet but have shown a certain interest in what you offer. They may have downloaded the brochure or subscribed to your website’s newsletters.
They are outbound or passive leads that need an extra push to reach the funnel through a certain nurturing process to make them ready for sales representatives.
- 2. Sales Qualified Leads:
Sales-qualified leads (SQLs) are active or inbound leads that are directly engaged with your company or your sales team with an interest in particular products or supplies. Your sales team may request free samples or trials, reach out to them, or send them emails or messages with inquiries.
These leads are essential for lead generation. Tracking these leads in your sales funnel will help your sales and profit margins soar to new heights.
7 B2B Lead Generation Tips & Tactics to Learn in 2024
- 1. Prioritize Automation:
Automation involves artificial intelligence (AI) and machine learning (ML). A large number of business-to-business companies and businesses invest in such automation systems to generate leads. According to a recent survey by McKinsey, over 60% of businesses are already utilizing automation for their business processes, like lead prospecting and sales.
Automation has proven to be an effective strategy for generating B2B leads. For example, by leveraging artificial intelligence (AI) and machine learning (ML), companies can analyze the data and predict the future buying behaviors of potential business clients. This can help you focus more on targeting those prospects who have high-intent buying signals instead of those who don’t. As a result, your sales funnels will be filled with only qualified leads, which results in huge conversions and sales.
- 2. Focus on ABM:
ABM, which stands for account-based marketing, refers to a type of marketing that focuses on particular high-value client accounts rather than a large group of members. Unlike traditional marketing, which targets wide networks. On the other hand, ABM looks at a customized approach towards specific accounts of 10–12 decision-makers for personalized reach and engagement.
For example, Salesforce, a leading company that sells CRM software to various businesses across industry verticals, utilizes ABM to reach specific companies. They design customized promotional campaigns that target specific businesses, focusing on their needs and pain points. With the help of detailed customer insights and data, they send personalized advertising messages through multiple channels that address the concerns and requirements of a particular account. This strategy helped them generate qualified leads and high conversions by reaching valuable clients.
- 3. Survey on Client Review:
Client reviews add an extra boost to your marketing campaign. No matter how genuine your marketing department is in showcasing your products and supplies, buyers choose to follow the experience of their fellow clients buying your products and services before they close a deal with you. In the B2B lead generation scene, your prospects are influential decision-makers for a company. Obviously, they will depend on your client’s reviews before making any purchase decisions.
According to a study, 95% of customers read product reviews from buyers before making any purchase, and around 90% of clients say they avoid businesses with a negative review. Thus, reviews and testimonials play a vital role in generating leads. Therefore, you should make use of these reviews. Remember that negative reviews can harm your business, so request reviews, testimonials, and feedback as part of your sales process. By displaying reviews and testimonials from your happy clients in your promotional content, you can attract new opportunities and leads.
- 4. Employ case studies:
Case studies are the secret weapon in the B2B world; they involve converting abstract services into real-life success stories. The case studies play a crucial role in the decision-making process for your clients. Previously, the case studies were severely ignored most of the time; the companies used to keep them in the corner of their websites. But now that the times have changed, a survey by the Content Marketing Institute has reported that case studies are the most commonly used content for lead prospecting in business-to-business.
You can use case studies to guide leads from the middle and bottom of the funnel through the entire purchase journey. Moreover, because B2B sales are complex and involve not just individuals but entire businesses, decision-makers and purchasing officers of enterprises prefer to search for case studies. Therefore, displaying the case studies on your websites and promotional content can be helpful to increase your lead counts.
- 5. Leverage video content:
The use of video content is almost ubiquitous in every industry, from healthcare and IT to real estate and even retail. Also, video marketing can nurture your prospects more effectively with engaging visuals and audio and eventually generate high-quality leads for your sales team. YouTube is the second-largest search engine after Google. By creating an impactful and intent-based video for YouTube, you can turbocharge your lead counts through effective nurturing.
For instance, a company that manufactures equipment and parts for aircraft and planes can utilize the video content to nurture their products and produce leads. They could produce a video that explains the features of their wings, the durability of their motors, the efficiency of their engines, and the capacity of their fuel tanks. Additionally, making short tutorial videos that demonstrate the maintenance tips and installation process can establish expertise and trust. By sending testimonials and opinions from customers and key thought leaders about performance, quality, and features, along with promotional content, you can drive potential leads while building a positive reputation for your business.
- 6. Social media engagement:
The days are gone when there was a rule that social media was only for B2C (business-to-consumers). As the advertising methods of businesses are moving towards a more digital and social radar, even businesses can rely on social media to build connections and for their lead prospecting efforts.
You are now likely to be reaching out to your clients through LinkedIn. If not, then start doing it now, because according to a recent study, 55% of decision-makers use LinkedIn to verify the companies that they are going to close deals with. Not only LinkedIn, but most organizations, from small, and medium-sized enterprises to big corporations, use Twitter, Facebook, and Instagram as part of their lead generation efforts. Social media doesn’t only get you a good amount of visitors, but also other companies that look for your marketing skills.
- 7. Partnerships and collaboration:
Building partnerships with other businesses and companies that offer valuable products and services can open a new way for lead generation. These collaborations can also offer a new platform for sharing the best practices for compliance with legal implications and risk management, enhancing the value of your potential clients.
For example, a firm that sells accounting software can form partnerships with financial consultants and business advisory companies to expand its reach and tap into new lead sources and business opportunities. Collaborating through shared webinars or hosting industry events together offers a chance for mutual promotions and attracts potential clients who are interested in your supplies. Through these partnerships, the software company will not only be able to increase its visibility but also place itself as a valuable partner in the financial ecosystem. It can drive your lead generation and, ultimately, your business growth.
Conclusion:
In the end, you might find any one or all of the tactics from the above-mentioned 7 B2B lead generation strategies of 2024 effective in your marketing campaign. One might find a huge quantity of leads by analyzing the buyer’s behaviors through automation and sending customized marketing content to specific accounts. Sharing the client review in the promotional content can also work for some, as can displaying the case studies at the visible end of their websites. Some might find video content or video marketing an effective way to attract potential leads.
Consequently, utilizing social media platforms like LinkedIn, Twitter, and much more can also help you reach high-intent prospects. Partnerships and collaborations with influential industry leaders can position your business as a valuable partner. Despite trying all the strategies, you may find yourself dealing with cold leads. Then, how can you generate quality leads better than your competitors? That’s why MailingInfoUSA, a leading data partner, offers you a verified and highly responsive B2B mailing list for businesses across the world for effortless marketing and lead generation.
Generating leads is not the end; you need to convert them. Contact us and request a free sample of our email database to amplify your lead counts today!