B2B Lead generation is a massive industry, with countless verticals capturing qualified leads that can be sold to companies looking to acquire new customers. But according to The Black Report, only 17.3 per cent of companies actually reach their lead generation targets.
There are different lead generation verticals geared to different industries, but the most effective are those which attract numerous, deep-pocketed buyers with a high volume of search traffic (as opposed to a reliance on personal recommendations). A few of the standouts are the legal and education industry, in which the value of a converted lead is high. Some others are business and professional services (which reach 23.3 per cent of their targets), Technology (which reaches 21.4 per cent), and Financial services (which reach 41.7 per cent of their targets).
But what, beyond their demographics and size, do these markets have in common that leads them to perform better in B2B sales performance?
A few things.
People looking for legal services and educational opportunities are actively searching online and are typically heavy users of digital services, and therefore easier to reach with an online lead generation campaign. Sales lead generation is a better-established practice in financial and professional service industries, and digital lead generation has a long standing prevalence in technology industries, so the fact that these sectors are top performers in this area is understandable.
Manufacturing (where lead generation reaches just 7.7 per cent of their targets), and the healthcare and pharmaceutical industries (reaching just 12.5 per cent) are more recent adopters of lead generation, so there’s a learning curve there. In addition, these companies may have less marketing-oriented cultures, and may operate in environments with rigorous regulatory and privacy requirements that limit certain types of lead generation activities.
If this sounds like your company, you might need to retool your lead generation programs to get better results, and that means:
- Examining channel choices, measuring ROI, eliminating what isn’t working, and doing more of what is.
- Combining a mix of tactics anchored by relevant offers to build effectiveness across all channels.
- Matching budget priorities to B2B sales objectives to ensure lead generation is sufficiently resourced.
If you are handling your own lead generation you have to find a way to bring sales, marketing and operations to the table to commit to a shared focus and accountability for topline growth. For some companies this is easier said than done, with teams widely dispersed or working remotely which can prove difficult to coordinate. Sometimes it makes more sense to get an outside lead generation company to put their focus and expertise to work for you.
A lead generation company can address specific needs, such as these:
- If data acquisition is an issue, an expert can provide specific, targeted data matched to an ideal customer profile (industry, business size, geographic location, job title etc.).
- If lead generation program strategy and planning is weak, an expert can create an efficient, systemized approach to lead sourcing, nurturing, qualifying and sales appointment booking.
- If website results are limited, a digital lead generation expert can improve website metrics and develop digital advertising campaigns and optimized landing pages.
- If outbound telemarketing isn’t getting results, a lead generation expert can get sales reps off the phone and in front of the right people.
- If there’s a great story to tell, but it isn’t being told, a lead generation company with integrated marketing and communications expertise can help craft a compelling brand message and awareness-building campaigns.
- For companies of every size, effective, ongoing sales lead generation is the foundation for sustained topline business growth. If it’s not on the radar as a key strategic priority, it should be.
Learn more about how we can help you with qualified B2B sales leads by contacting us.