B2B Lead Generation

5 Easy Steps to do B2B Lead Generation that benefits your Business

Whether you’re brand new or a more established brand, in today’s high-paced and oversaturated world, it can be challenging to grab your audience’s attention. With that in mind, it’s critical that you have a clear strategy to reach your target from the beginning.

But, how to do B2B lead generation in a way that will benefit your business, and quickly?

Let’s start by answering the first part of this question. What are the actual benefits of lead generation for a B2B business?

  • Lead generation can give you insights about other prospects that are keen on engaging with you or already are consuming your content. This segment of potential customers can be an addition to your current target audience and help you expand your market.
  • Using the right message, offer, and content to generate interest from prospects can make it easier to gain the attention of qualified leads, and help sales convert them into buying customers faster, thereby giving your revenue a boost.
  • Lead generation is also a great way to build brand awareness and visibility.
  • You can also use various off-the-shelf software and tools to automate the lead generation process by qualifying and scoring leads, sending them targeted content, and tracking their engagement through the funnel.
  • Lead generation also gives you a highly targeted approach to content creation. Making content that resonates with each of your buyer personas is a sure-shot way to improve lead quality

Now that we know the benefits, let’s take a look at 5 easy steps to kick-start your lead generation tactics, and start bringing in high-quality leads!

1. Know Who Your Target Audience Is

To properly target your audience, you’ve got to know exactly who you want to talk to. Ask yourself these critical questions to gain a clearer picture of who your ideal buyer persona is:

  • What kind of business needs what you offer? Think about industry, geography, and business size.
  • Who within these businesses has the problem your product or service can solve? Consider their position, seniority, if they’re a decision maker, etc.

Build up a clear profile of your target audience with as detailed a description as possible. This first step makes lead generation a lot easier down the line.

2. Build Your Potential Leads

What Are Potential Leads?

Potential leads represent people in your target audience who have shown interest in your product or service by offering you some personal information – like their name and email address – in exchange for content, like a survey, blog post, or offer.

During this second step you should be building your list of potential leads.

  • Make sure that you have accurate contact details that are compliant with local regulations.
  • Try to obtain multiple points of contact – address, telephone number, email, LinkedIn, Twitter, etc.

3. Leverage the Power of Added Value

To best entice new potential leads, ensure that you are offering something of clear value to each segment of your target audience. Each offer should ideally be customized to appeal to each segment independently.

4. Get Intimate With Your Numbers

In order to be successful with B2B lead generation, you must have a clear understanding of the number of leads your business needs to generate to meet your goals within a set deadline.

To do that, you’ll need to ask yourself a number of important questions:

  • What is your revenue target?
  • What is the average revenue per sale/customer?
  • How many sales do you need to complete if you hope to meet your goal?
  • On average, how long is your sales cycle?
  • How many potential leads do you have?
  • What is your marketing budget/cost per lead?

For many small or start-up companies, some of these numbers might still be unknown – but the first three are integral to building a successful B2B lead generation campaign.

5. Create a Lead Generation Plan

As a B2B company, you need to craft a plan that communicates the value your product or service offers to your target audience – with the right messaging, at the right time, in the right place with the right call-to-action. Depending on your audience, this might be through email marketing or social networks.

Don’t forget to set a specific and realistic budget and keep the cost per lead in mind. A good general rule is that marketing costs should stay between 5-7% of revenue. Therefore, if your revenue target is $100k, your marketing budget should be around $5-7k.

While it’s always good to know about how to start your lead generation journey, it is equally important to be wary of the pitfalls and challenges that can come along the way.

Let’s look at some of the common lead generation challenges and their potential solutions too.

  • Measuring ROI for your lead generation campaign

Lead generation can get quite complicated at times, and tracking its performance even more so. Tracking the ROI of your lead generation campaign can help you quantify the success of your campaign and in turn optimize the next one. A few common B2B lead generation metrics to track are MQLs (marketing qualified leads) and SQLs (sales qualified leads).

  • Nurturing leads to sustain them longer

While you can get leads through lead generation, you also need to keep them warm and move them through the funnel so that they become paying customers. This happens by consistently engaging with your customers via relevant content and offers. This is also a great way to build brand salience as well.

  • Relying on referrals alone

Referrals and word-of-mouth marketing are definitely a great way to get promising leads for your Canadian business. But they are definitely not enough. A referral strategy cannot guarantee you authentic or high-quality leads. You need to go above and beyond and include other sources of leads (email, 3rd party data, events, thought leadership)  in your lead generation plan as well.

  • Knowing your customers

You need to build an ideal customer profile, as the first step before crafting a lead generation plan. Without having a buyer persona in hand, your lead generation strategy is likely to falter and you won’t get high-quality leads. We at ADC can help you build the right buyer persona for your Canadian business.

Lead generation is a robust method to ensure that your business gets a steady stream of high-quality leads, come rain or shine. It can help you build your pipeline of potential customers and also streamline the process for your salespeople. If done right, it’s a great way to boost your revenue, build your brand presence, and build a lasting relationship with your customers.

 

Looking for a little more guidance when it comes to your B2B lead generation plan? Book your free, no obligation consultation with Asset Digital Communications founder, Mary-Jane Owen!