What is lead generation process in B2B?

Lead generation is one of the most important jobs at any company. The more leads you generate, the higher your chances are of closing deals with prospective clients and ultimately making money. Lead generation can be defined as finding new prospects that have interest in buying products or services from an existing business. You need to identify these people so that you could reach out to them. You may do this by cold calling, emailing, sending direct mail pieces, social media campaigns etc.

In this article, we will discuss what exactly is a lead generation process, what is B2B lead generation tools and how does a typical B2B lead generation happen. We hope this helps you understand better!

What is a lead generation process?

A lead generation process involves following a series of steps to find and communicate with potential buyers. This process starts with understanding who they are and their needs. Once you know those things, you start looking for ways to connect with them through various platforms like phone calls, emails, newsletters, social media posts etc.

After connecting with them, you send follow up messages on regular basis until finally convincing them to buy something from you.

For example, if you run a travel agency, then you might want to look for hotels near airport or nearby attractions that would make tourists interested in visiting there. To get such information, you might need to speak to hotel owners directly. Or you may choose to use online research tools that give you access to relevant data quickly.

Once you gather enough information, you create content (e.g., brochures) that explains why your product/service is valuable to them and convince them to book a meeting with you. At this stage, you also plan your next step which includes getting appointment details and scheduling meetings.

Then you call them and set up a meeting with them. During the conversation, you try to sell them the benefits of your service and show them reasons why they should hire you instead of other competing agencies. If everything goes well, you schedule another meeting where you present more detailed information about your product/services. And repeat the above steps again until you close the deal.

This entire procedure takes time but once you complete it successfully, you become much closer to achieving your goals.

What is B2B lead generation tools?

Most businesses today opt for digital marketing techniques because traditional methods like newspaper ads and radio spots don’t work anymore. But while using digital marketing, you must not forget to include human touch into the equation. That means including some elements that would help you build relationships with your target audience. Such elements include personalization, storytelling, relationship building, empathy, etc.

The best way to achieve this goal is via lead generation tools. These tools allow you to effectively engage with your audience and increase conversion rates. They let you analyze data, manage contacts, automate tasks, track progress, etc.

There are many different types of lead generation tools available. Here are few popular ones:

Email Marketing Tools – There are several free and paid email marketing software solutions that help you create automated drip campaigns, segment lists, deliver personalized messages, etc. Some of the top providers include MailChimp, AWeber, ActiveCampaign, ConvertKit, etc.

Social Media Management Tool - Social media management tool allows you to monitor multiple accounts simultaneously and post engaging updates across channels like Facebook, Twitter, Instagram, LinkedIn, etc. Popular options here include Buffer, Hootsuite, Sprout Social, etc.

Website Builder - Website builders offer drag and drop functionality that lets users design websites without writing code. Popular website builder solutions include Wix, WordPress, Squarespace, Shopify, etc.

Content Creation Software - Content creation software makes it easy to write articles, blog posts, ebooks, webinars, white papers, etc. Most common choices here include HubSpot, Marketo, Canva, etc.

Lead Generation Apps - Mobile apps are increasingly becoming popular among companies since they provide instant gratification to consumers. Many mobile app development companies now specialize in creating custom lead generating applications for small businesses. Popular options here include AppCelerant, Salesforce1 Mobile, Salesforce Lightning Connector, etc.

Data Analysis Applications - Data analysis tools help you collect insights into customer behavior patterns, competitor activities, pricing trends, market share distribution, etc. Top options here include Tableau, Qlikview, SAS Enterprise Miner, etc.

What is a B2B lead generation?

If you think about selling to large corporations, you might wonder -- “how do I go about doing that?” When someone wants to purchase goods or services from a corporation, he has two options: either contact head office directly or approach a local representative. Both approaches require a lot of effort, especially when you consider that corporate representatives change frequently.

To overcome this problem, big corporates started outsourcing their lead generation activities to third party vendors. Nowadays, almost every industry uses outsourced lead generation services. For instance, real estate agents use lead generators to attract homebuyers from internet searches, telemarketers use them to acquire fresh list of names, insurance brokers leverage them to meet new prospects, etc.

So, essentially, a B2B lead generation happens when a vendor collects contact info of possible customers and passes it onto a client. Then, the client tries to sell his or her own products or services to the prospect.

How does a lead generation happen?

As discussed earlier, a lead generation process comprises of four main stages: identification, outreach, qualification and closing. Each stage requires specific actions and expertise to be executed correctly. Below, we explain each part of this process in detail.

Identification – Identifying right targets is the first and foremost task before starting any kind of lead generation campaign. Usually, marketers rely on databases of previous clients to identify potential candidates. However, sometimes due to privacy concerns, marketers can only view basic profile data rather than full profiles. So, they need to manually search through hundreds of pages filled with irrelevant results before finding the right person.

Outreach – After identifying the right target, you need to figure out whether she actually wants to buy anything from you or not. Therefore, you need to send targeted message to her explaining value proposition and offering compelling offers.

Qualification – Even after reaching out to the target, you still need to qualify him further. Since most of the times, you won’t be able to talk to the buyer personally, you need to find out certain criteria that indicate he is ready to sign contract. For example, you might ask for the number of employees working under him, annual revenue numbers, etc.

Closing – Finally, you need to persuade the target to take action and move forward. You can do this by presenting persuasive arguments and asking questions to determine his level of commitment. Also, you can test your assumptions by conducting quick experiments. All these factors play critical roles in determining success rate of a lead generation campaign.

What is lead generation tool?

Lead generation tools assist in completing the 4 phases of a lead generation process mentioned previously. As shown below, there are three major categories of lead generation tools based on their functionalities:

Automation Tools – Automation tools help you perform repetitive tasks automatically. Examples include CRM systems, database automation tools, etc.

List Building Tools – List building tools help you create quality mailing list of qualified leads. Some popular options here include Infusionsoft, Constant Contact, etc.

Contact Tracking Tools – Contact tracking tools help you keep track of interactions between you and your target. Commonly used features include analytics dashboards, email reports, calendar integration, etc.

Apart from the above, there are numerous other kinds of lead generation tools available. One example is Customer Relationship Management (CRM) system. Although CRMs aren't strictly categorized as lead generation tools, they serve similar purposes.

These days, you can easily find dozens of lead generation tools listed online. But choosing the right one depends entirely upon your budget, requirements, skillset and preference.

Conclusion

Now you have learned what is a lead generation process, what is lead generation tools and what is a lead generation. Hopefully, our explanation helped clarify concepts around lead generation processes.

Although lead generation tools vary depending upon the type of business you operate, we recommend you stay away from low-quality lead gen tools. Instead, focus on automating repetitive tasks and investing in high-end tools that make your life easier.

Lead Generation is one of the most important processes that any business needs to master. A lot has been written on this subject in general but here we will be discussing what exactly lead generation entails when you are dealing with a B2B company or organization.

We have already covered some basic aspects like how to identify leads (in our article How To Identify Leads), why they matter (in What Is an Effective Lead) and how to nurture those leads into becoming qualified prospects (in Why You Should Be Using LinkedIn). In this post, we will discuss various ways to generate leads for your Business to Business (B2B) companies.

What is lead management in B2B?

The term "lead" can mean different things depending upon who's talking about it. For example, if you're part of a sales team, then a lead would refer to someone who shows interest in buying from you while being a customer at another point in time.

If you work as a marketer, then a lead can also refer to anyone who has expressed interest enough in learning more about your product/service by visiting your website or reading through your blog posts. This is called "qualified prospect". If you want to get people interested in your products or services without having to go out there and cold call them, then lead generation is definitely going to help you.

What is a lead in B2B sales?

A lead could be defined as a person who is ready to buy something and wants to hear more details before making his decision. Let us look at some statistics related to this -

According to Hubspot, only 6% of buyers make their purchases online directly from the site where they found the information about the product. The rest of the 94% prefer to talk to a real live human first before deciding whether they should purchase the item or not. So, even though you may think that you are creating high quality content which attracts traffic to your website, chances are that these visitors won't become actual customers unless you engage them further.

So if you are looking for ways to increase conversions among your leads, then focus on building trust and credibility with your audience so that they feel comfortable asking questions and sharing opinions about your brand. Once you build up such relationships, you'll find yourself getting multiple inquiries every day.

What is the difference between a lead and a sale?

As mentioned above, a lead doesn’t necessarily turn into a sale. But once you do manage to convert him into a buyer, he becomes a valuable asset for your business since he knows about you and trusts you. That means he will share his contact information with other prospective clients. And because of that, you get access to tons of new opportunities!

Also, once you start generating leads, you need to keep track of each and every lead closely. Make sure you know what stage of the purchasing cycle they are at. Are they just exploring the options available to them? Or, are they pretty much decided about their choice? Knowing this helps you decide next steps accordingly.

Is a lead a sale?

Since you now understand the importance of leads, let’s take a quick recap of what makes a lead a sale. Here are 3 key factors –

Trustworthiness: Prospective buyers often spend hours browsing around websites and social media profiles. They read reviews and testimonials left by previous users. So, it is extremely important that you convince them right away that you offer value to your target audience. Trustworthy brands tend to have higher conversion rates than those whose websites don’t provide useful content. Also, avoid misleading titles and descriptions, especially in Google Ads.

Relevance: One of the reasons people visit sites like Amazon and eBay is to learn more about a certain product or service. Before giving money to a seller, they always check reviews and ratings posted by past customers. So, ensure that your landing page offers solutions relevant to the problem faced by the visitor.

Personalization: Since everyone likes to receive special treatment, personalized emails are far better received than generic ones. Personalized messages encourage recipients to interact with brands again and again. As a result, you get more exposure to your message.

How to use email automation software to create targeted lists of leads?

Email marketing works wonders for increasing engagement and conversions. However, many businesses fail to utilize its full potential. By using automated systems, you can easily send customized newsletters, follow ups, etc., to specific groups of subscribers based on their preferences and interests. These types of programs allow you to reach out to contacts individually instead of sending bulk emails.

Some popular techniques used for effective email marketing include -

1. Sending welcome mails: When somebody signs up for your list, send them a friendly mail welcoming them to your community along with a link to sign up for updates.

2. Follow up mails: If somebody buys from you, send them a series of reminders regarding the order and shipment status.

3. Newsletter mails: Send regular newsletters regularly to retain existing subscribers and attract new ones.

4. Customer surveys: Ask your customers to fill out questionnaires once in awhile to gather feedback and improve your offering.

5. Product recommendations: Recommendation letters sent to loyal customers might bring back old customers while attracting new ones too.

6. Social proofing: Use testimonial videos and photos of satisfied customers to boost your credibility.

7. Promotional campaigns: Run promotions via Facebook ads, Twitter tweets and Google AdWords.

Conclusion

It goes without saying that lead generation is vital for any kind of business. With the advent of digital technologies, everything has changed drastically over the last few years. Nowadays, almost everybody prefers to deal with a brand rather than a brick and mortar store. Thus, creating awareness about your business is no longer easy.

To succeed in today’s world, you must adopt modern methods of lead generation and put them to good use. Remember, it takes time, patience and persistence to establish long lasting relationships. But once you achieve success, nothing else matters!

How does a company generate leads for their business

A lead is defined as someone who wants to buy something from your business, but hasn’t yet done so. The first step of generating leads is to identify these people and then persuade them to take action.

The whole idea behind lead generation is to find out whether there is an opportunity for your product or service. In other words, if they want to become clients, how do you get them to make such a decision? This is where the concept of lead comes into play. To understand this better let us look at some real life examples of companies that have used different methods to generate leads.

Example 1- Targeted Emails

Targeted emails are those which are sent only to highly qualified prospects. These individuals already know what they need and are more likely to respond positively to your offer than others. You can use targeted email campaigns to send messages directly to specific audiences.

It should also be noted that not everyone receives targeted emails. If you don't reach out to the right audience, you won't receive many conversions either.

Example 2- Content Marketing

Content marketing, like targeted emails, requires you to create content specifically designed for certain targets. But unlike targeted emails, content marketing generates engagement rather than just leads. So instead of sending emails to a list of people, you publish articles on blogs or social media platforms like Facebook or LinkedIn. People read these posts and decide whether they would like to engage with you by commenting back or sharing the post across their network.

B2B lead generation involves finding new business opportunities and converting prospects into real clients. The best way of doing this is by leveraging the power of digital technology such as email campaigns or social media advertising.

But how does one go about turning strangers into friends? And what are some of the most effective ways of attracting more leads? Let's take a look at those questions below.

How do you get B2B lead generation?

It may seem like an obvious question but there is no easy answer. There isn't even a single definitive method that can be used consistently to generate quality leads every time. However, there are certain factors which contribute significantly to the success rate of any lead generation campaign. These include having a well defined target audience, choosing your channels wisely, defining a clear conversion funnel, and using high value content to communicate with prospects.

If you're looking for a quick fix solution then try these tactics instead:

1. Research your market thoroughly - Before starting on any kind of lead generation project, make sure you have researched enough so you know exactly who you need to target. If you don't have a firm grasp of your prospective customer base then you'll never be able to effectively reach out to them. So before you start contacting anyone, make sure you've done your homework first! You can use Google AdWords to find businesses near where you live and work that match your needs. You can also check online forums to see if they exist or not. Do your research properly. That will help you avoid wasting money on irrelevant leads later down the line.

2. Choose your channel wisely - A good place to start when deciding upon which mediums to use would be to determine whether you want to approach people directly (cold calling), send emails to existing contacts (warm calling) or both. This depends largely on the type of product or service you offer. For example, if you sell software, sending cold calls won't likely yield much results. But if you were selling mobile app development services, you could potentially benefit from making phone calls while simultaneously sending emails to current clients.

3. Define your conversion funnel carefully - When building your list, consider creating multiple different types of lists based on their likelihood to buy from you. First up should be "people who might eventually become interested" followed by "people who already had a positive impression". Then add everyone else in between. As you build each level of your funnel, ensure you only add leads that meet specific qualifications. Otherwise, it will create a lot of unnecessary overhead and you'll end up wasting precious resources trying to bring in leads that aren't worth pursuing.

4. Use relevant content strategically - Don't just throw together random blog posts and hope they'll attract readers. Make sure you write articles that appeal to a specific niche group, and incorporate keywords that are highly searched. By writing compelling content, you'll increase the chances of being found via search engines. Also, give priority to providing valuable information rather than offering discounts. People tend to trust other people over companies.

5. Create a landing page for your website - Landing pages provide visitors with instant gratification. They allow you to capture contact details without forcing users to fill out lengthy forms. Not only that, but it allows you to test various options to see which ones perform better. Your landing page should contain optin buttons, videos, call to action prompts, etc.

6. Be persistent - Once you've generated a list, nurture relationships with leads and stay engaged with them until they either purchase something from you or unsubscribe. Remember, you don't always have to ask someone to subscribe to your newsletter. Instead, set up automated email sequences that automatically follow up with subscribers after X amount of days. If you haven't heard back within 30 days, send another message asking why they didn't respond sooner.

7. Track your progress regularly - To keep track of everything, you must record data points throughout the entire process. Start off by setting goals for yourself, and then track your performance against them. Try tracking things like number of visits per day, average session length, bounce rates, click through ratios, conversions, etc. Tracking helps you identify patterns and trends that can inform future planning decisions.

Why is lead generation important in B2B?

Lead Generation is vital to any successful sales strategy because it generates fresh leads continuously. Without proper lead nurturing, you'll lose out on many opportunities to close deals.

The importance of lead generation cannot be understated. According to Hubspot, 91% of marketers believe that generating leads is critical to business growth.

There are several reasons why lead generation is important to B2B organizations. Here are a few:

· Lead generation increases brand awareness among prospective buyers.

· Lead generation creates demand for products and services offered by a company.

· Lead generation improves overall productivity since it reduces staff costs and boosts efficiency.

· Lead generation provides essential feedback regarding client experience.

· Lead generation improves visibility and credibility of the organization.

· Lead generation empowers decision makers to make informed buying choices.

· Lead generation enables efficient allocation of human resource investments.

How do you qualify for a B2B lead?

Qualifying leads means filtering out junk traffic and ensuring that only those who are truly ready to buy are added to your mailing lists. Qualified leads are usually identified based on the following three parameters:

1. Demographic characteristics: Demographics are simply facts describing your ideal prospect’s profile. Based on demographics, you can segment leads according to age, gender, income levels, education levels, occupation, geographic location, interests, hobbies, interests, values, attitudes, etc.

2. Interests: Prospective customers share similar interests with your own. Identify commonalities between your offerings and theirs, and show interest in learning more about them through targeted offers.

3. Behaviors: Similar to Interests, behavior analysis tells us about past actions taken by individual prospects. Knowing what behaviors indicate intent to buy makes it easier to predict future purchases.

What is criteria for qualified lead?

A qualified lead has shown interest in your product or service. He/she is actively seeking solutions related to your industry. He/She is willing to pay for your products or services.

Conclusion

Generating high-quality leads remains a challenge for many small businesses. However, implementing proven methods, including lead generation techniques, can dramatically improve your ROI.

To learn more about how to generate leads, read our article here.