The straightest path to B2B business growth and increased revenue starts with identifying qualified leads through effective lead generation best practices and tactics. There are a number of ways to generate leads. Some depend on having a strong sales force, and some depend on your company’s approach to gaining brand exposure. Whether your sales team needs more defined measures for success or you’re looking for new ideas your company can use to capture the number of leads that will foster business growth, this blog post can help. Below are B2B lead generation tactics as well as winning strategy ideas and measures for success that will take your company the direction it wants to grow.
Cold calling is best used for simple products with a short, well-crafted and obviously relevant value proposition. Only a small percentage of cold calls yields results, so make sure your reps have enough time to make a high number of calls if you want great outcomes.
Success boosters: Cold calling yields better, quicker results when you have a low price and instant company or brand name recognition to make the job easier.
Winning strategy: Outsourcing. The simplicity of the messaging and repetitive nature of cold calling makes it an ideal task for outsourcing. Off-loading cold calling can improve your in-house sales team's morale and save your valuable staff time for closing.
Spotting success: Since cold calling is a numbers game, you should consider your efforts a success if you achieve a 1% response rate, according to Marketo. With an experienced outsourced, outbound calling team, success rates can be multiplied substantially because it is their only task. Ask your intended outsourcing company for examples of conversion rates in your industry before hiring.
Appointment setting is necessary for more complex products/services and, like more straightforward, simple cold calls, you need volume to yield results.
Success boosters: This B2B lead generation tactic works best with brand recognition, as with simple cold calling. Consider ramping up your online presence so prospects trust making an appointment with you.
Winning strategy: Outsourcing can work well here, provided you choose your vendor carefully. Your outsourced telemarketing crew of appointment setters must have experience and must excel at understanding your prospects’ pain points. The best outsourced sales teams excel at positioning your product or product line as the ideal solution for the prospect. Your outsourcer must also be effective at identifying and getting through to decision-makers.
Spotting success: Consider your efforts a success if you reach the high single digits for response rates, say 8%. Keep in mind that an outsourced team can significantly raise that rate.
Direct mail pieces can make a lasting impression, provided you get past gatekeepers and in front of decision-makers. Keep in mind that direct mail pieces can be expensive, but very effective when sent to the right person, at the right time and with the right message.
Success boosters: Use large, impressive-looking, personalized mailers for the best response rates.
Winning strategy: Augment with integrated online marketing (see below) to feed and nurture typical responders’ appetites for more information about your company.
Spotting success: Expect around a 3.5% response rate on average from a successful direct mail campaign with normal envelopes, but up to 5% with large-sized mailers. Postcards are nearly as effective at 4.5%, according to a detailed analysis of the Direct Marketing Association's 2015 report by MarketingCharts.com.
Inbound marketing campaigns yield the best success rates, provided they drive significant traffic to your website — and particularly if they’re supported by the other strategies mentioned.
Success boosters: Careful planning and implementation of new content is best supported by having a strong SEO strategy. If you rank high on search pages, you can generate leads without even calling prospects — they come to you.
Winning strategy: Integrate with well-targeted email campaigns and relevant content that addresses your prospects’ pain points.
Spotting success: When B2B companies develop and maintain relevant content by blogging at least once a month, they generate up to 70% more leads than those that don’t. If you’re not getting the lead generation results you want from producing content, you might need to rethink your strategy.
Attending a conference or trade show (or conducting a webinar) can provide excellent results once you get the hang of it. Expect success to grow with refinement.
Success boosters: Careful planning and practice make these rather expensive approaches successful. Time management, topic focus (especially for conferences) and proper targeting (for getting a large webinar audience) produce the best results.
Winning strategy: Study your past efforts and observe the competition’s successful tactics to refine your approach.
Spotting success: Success in this area depends upon costs and varies widely. Consider raising your industry profile as a win, in addition to the number of leads generated after the event, and conduct your cost-benefit analysis based upon those factors.
If your sales efforts need a boost, use these tips to help take your company to the next level. Whether your sales team needs some guidance on what success looks like or your organization needs to get its name out there to get more leads, these measures for success can help you to develop a lead generation strategy that gets you results and raises your business’s bottom line.
RDI Corporation was founded in 1978 and is headquartered in Blue Ash, Ohio. We provide precise business solutions through a fully integrated outsourcing model and our clients ranged from mid-sized corporations to distinguished Fortune 500 companies.