According to a study by HubSpot, 61% of marketers say generating traffic and leads is their top challenge. Moreover, only 18% of marketers say their lead-generation efforts are very effective. This means there is much room for improvement and optimisation in lead generation. Lead generation in B2B is the process of recognising and reaching out to prospects who are interested in your products or services. It is a crucial step with B2B sales, as it helps you build relationships, create trust, and qualify opportunities. Research, planning, creativity, and execution are the key components of a successful B2B lead generation process. You must understand your target market, craft compelling value propositions, use the proper channels and tools, and measure and optimise your results. In this blog, we shall look at the basics and dive deeper into how to craft the perfect B2B lead-generation strategy.
.webp?width=398&height=265&name=quality-assurance-quality-control-business-process-management-professional-brainstorming-1-scaled-1%20(1).webp)
B2B marketing is not only about generating leads but also about building and maintaining relationships with your prospects and customers. Our B2B marketing services company can help your brand in many ways, such as:
What is B2B Marketing?
B2B marketing, or business-to-business marketing, is the practice of marketing products or services to other organisations. Unlike B2C marketing, which targets individual consumers, B2B marketing focuses on decision-makers and influencers within a company who are responsible for purchasing or using your solution. B2B marketing is often more complex, longer, and more relationship-driven than B2C marketing, as it involves multiple stakeholders, touchpoints, and evaluation criteria. B2B marketing also requires a deeper understanding of your target market, their pain points, their goals, and their decision-making process.What is a Lead?
A lead is a person or a company that has expressed interest in your products or services. A lead can come from various sources, such as your website, social media, email, events, referrals, or cold calls. A lead is a potential customer who has not yet made a purchase. To become a customer, a lead must go through a series of stages in the sales plan, from awareness to consideration to decision. Depending on the complexity and cost of your products or services, this process can take a few days to several months or even years. Therefore, nurturing your leads and providing them with relevant and timely information and offers that can move them closer to a purchase is crucial. Imagine you take an online survey to learn how to file your taxes. The next day, you receive an email from an insurance company that created the study. This process is less intrusive than someone calling to sell their services. From a business point of view, the information that the insurance company collects about you from the survey responses helps them address your existing problems.Marketing Qualified Lead (MQL)
A Market Qualified lead (MQL) is a lead that has shown a higher level of interest and engagement in your products or services than a typical lead. An MQL has met some criteria that indicate that they are a good fit for your target market and are likely to become a customer. For example, an MQL may have downloaded a white paper, requested a demo, or filled out a contact form on your website. An MQL is not ready to buy, but they are prepared to receive more information and communication from your sales team. The goal of an MQL is to become a Sales Qualified lead (SQL).Sales Qualified Lead (SQL)
A Sales Qualified Lead is a lead your sales team has qualified as a viable prospect ready to engage in a sales conversation. For example, an SQL may have asked for a quote, scheduled a consultation, or agreed to a trial. An SQL is ready to buy, but they may still have some questions or objections that must be addressed. The goal of an SQL is to become a customer.Product Qualified Lead (PQL)
A Product Qualified Lead (PQL) is a lead that has experienced the value of your products or services first-hand and is likely to become a customer. A PQL has used your products or services through a free trial, a freemium model, or a low-cost entry offer and has demonstrated high engagement and satisfaction.How to convert MQL to SQL?
To convert an MQL to an SQL, you must nurture them with relevant and personalised content that addresses their needs and challenges. You must establish trust and credibility by providing social proof, testimonials, and case studies. Some of the best practices to convert MQL to SQL are:- Orienting your sales and marketing teams on the criteria and process of lead qualification. Use a lead scoring system or a CRM tool (Hubspot) to assign points to different attributes and actions of your leads. Set a threshold for when a lead becomes an SQL and ready for sales outreach.
- Segment your MQLs based on their industry, company size, job role, location, etc. and create buyer personas for each segment. This will help you adapt your content and messaging to their needs and pain points.
- Follow up with your MQLs at the right time and with the right message. Use tools like Zoom and Google Meet to schedule calls or demos with your prospects. Send proposals and contracts to your prospects.
How to convert SQL to PQL?
To convert an SQL to a PQL, you need to demonstrate the value of your product or service to your prospects. You also need to overcome any objections or concerns they might have and persuade them to take action. Some best practices to convert SQL to PQL are:- Offer your prospects a free trial or a demo of your product or service. This will allow them to experience your product or service first-hand and see how it can help them achieve their goals. Ensure your product or service is easy to use, has a clear value proposition, and provides a great user experience.
- Track and measure the usage and behaviour of your prospects during the trial or demo period. Track metrics such as activation rate, retention rate, feature adoption, etc., to see how they use your product or service.
- Close your prospects by asking them closing questions that confirm their interest, satisfaction, and readiness to buy. Use the ABC technique (Always Be Closing) to structure your questions and conversations.
What is B2B Lead Generation?
B2B lead generation is the method of attracting and capturing the attention of your target audience and converting them into leads for your business. B2B lead generation is essential for growing your customer base and increasing your revenue. B2B lead generation can be accomplished through various channels and methods, such as SEO, social media, email marketing, paid advertising, webinars, and events. The key to successful B2B lead generation is to make and deliver valuable and relevant content and offers that match your audience's needs and interests at every stage of the buyer's journey.Crafting Your Lead Generation Strategy
An effective lead generation strategy requires you to take these steps:- Define your target market and buyer personas - You need to know your ideal customers, their pain points and goals, how they make decisions, and where they hang out online.
- Set your lead generation goals and metrics - Understand what to achieve with your lead generation efforts and what tools and platforms you will use to track and analyse your performance.
- Choose your lead generation channels and tactics - Ensure you know which channels and methods are best suited for reaching and engaging your target audience and generating leads for your business.
- Nurture and qualify your leads - Learn how to communicate and interact with your leads to build trust and rapport, educate and inform them, and persuade and influence them to take the following steps in the sales process.
SEO
SEO stands for search engine optimisation. It improves your website's visibility and ranking on search engines like Google. SEO helps you drive organic traffic to your website and generate leads from people searching for solutions related to your products or services. SEO involves optimising your website's structure, content, keywords, links, and technical aspects to match your target audience's search intent and preferences.Social media
Social media is a powerful channel for B2B lead generation. It allows you to reach and connect with your target audience on platforms where they place their attention, such as Facebook, LinkedIn, Twitter, Instagram, and YouTube. Social media helps you build brand awareness, credibility, and trust among your prospects.Email marketing
Email marketing is one of the most influential and cost-efficient ways of communicating with your leads and customers. Email marketing lets you send your subscribers personalised, relevant, and timely messages, such as newsletters, offers, invitations, or follow-ups.Paid advertising
Paid advertising is paying for online ads on search engines, social media, websites, or apps. Paid advertising helps you reach a larger and more targeted audience, drive more traffic, and generate more leads for your business.Webinars & Events
Webinars and events are interactive and engaging ways of showcasing your expertise, educating your audience, and generating leads for your business. Webinars and events allow you to present your products or services, answer questions, and collect contact information from your attendees. Does your website need some polishing? Our customised website planning can solve your b2b needs! Contact us today.How Does B2B Marketing Help Your Brand?
B2B marketing is not only about generating leads but also about building and maintaining relationships with your prospects and customers. Our B2B marketing services company can help your brand in many ways, such as: