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A lead generation company with secret powers

Lead generation is the process of converting, and to some extent nurturing, business leads. The question of whether to hire an outside lead generation company is one that confronts many businesses who might otherwise consider doing this in-house. Nurtured leads produce a 20% increase in sales opportunities and businesses who nurture leads make 50% more sales at a lower cost than non-nurtured prospects. It’s not something you want to leave to chance. Hiring a lead generation company can make sense for a B2B business because they are focused solely on lead generation, have valuable industry expertise and can save your team time rather than trying to do this in-house. Here are the biggest reasons to hire someone to do it for you:

A lead generation company talks to the right people

Good lead generation is speaking to the right people at the right time, and it comes down to having the right contacts and the right data. Lead generation companies have access to databases with millions of business contacts covering a range of industries. Data specialists can determine which leads are qualified much more quickly than your own staff could.

They prioritize with lead scoring

An experienced lead generation firm will have proven methodologies that they can put to work on your case. Sales leads scoring is one of these techniques which can save a lot of time by not talking to people who aren’t as likely to convert.

They shorten the sales cycle

By having nurtured business leads sent to you the focus is firmly on selling, and the timeline to do so is much shorter. Time is money, and you will be saving plenty of it by having qualified leads sent directly to you.

They improve your company’s web presence

Many lead generation companies can assist with a blog strategy and SEO, so that potential customers can find you more easily through a web search. Then those prospects can be turned into leads and possible customers.

They can lower your costs

Developing a hiring and training program is costly. Sometimes it makes more sense to hire a company that is specialized and already has the skilled staff. Hiring a company to find leads frees up resources for other tasks. It eliminates the time and effort required to recruit and train staff.

They allow you to focus on your product or service

Whatever area of B2B your business operates in, one thing will ring true: it’s the USP of your company that generates revenue, and it’s the USP that you need to focus on. It’s the asset you possess which can’t be bought elsewhere and where you should focus your staff’s energies and resources. Outsourcing to an agency allows you to do just that.

How to find the right lead generation company

Before choosing an agency, it’s important to do your research. If possible, scan reviews, testimonials, and ask for referrals. Ask your shortlisted candidates questions about their processes, tools, and whether they have their own CRM software that will be able to integrate with your B2B CMS for a seamless experience.

While using a lead generation company will cost you money, it saves your business money too. So, unless you want to pay the true cost of generating your own leads, you’ll be wise to pass on the hidden costs to the experts.

You still have reservations about using an external company for B2B lead generation because you think they’ll take your money and run? That they’ll make a couple of calls and leave it at that? Well, it might surprise you to discover that not only will they deliver results, but they’ll deliver them in a variety of ways. Lead generation companies may specialize in one area, but often they’re multi-faceted experts who can cover all the following services:

• Email marketing
• SEO
• Social media
• Appointment setting
• Event promotion
• Content creation

In the B2B world, an individual sales lead or a sale can be worth a lot, so it’s important to put thought into the customer journey pre- and post-sale. Find out how 360 Leads can create a winning B2B lead generation campaign customized for your company and industry. Contact us today!

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B2B Lead Generation Sales Team Performance

How to implement B2B sales lead scoring

Once you’ve got a reliable B2B sales lead pipeline, your focus shifts from getting those leads to identifying, nurturing, and closing them in order to make sales. But not all sales leads are created equal. You shouldn’t spend the same amount of time on every one that comes across your doorstep. Many companies have great website traffic, visitor engagement and repeat visitors that could all be considered warm leads. Developing specific scoring criteria on what is and isn’t a lead can be the difference between salespeople wasting their time and investing it against real prospects.

So how do you determine which ones are ready to commit to a purchase, which ones are lukewarm and need nurturing, and which are just kicking tires and not worth spending any time on?

Many advantages of a B2B sales lead scoring system

The way to answer those questions is to create a B2B sales lead scoring system. Lead scoring gives each one of those sales leads a ranking based on their activities – whether that’s on your website or through any of your content marketing devices, e.g. newsletters, social media posts or ads. The lead scorecard for each company will differ but not having one means there is no benchmark for determining what you classify as a sales-ready lead.

The power of scoring leads goes beyond simply boosting sales. You will find that it gives both sales and marketing a common language that helps to align them. Marketing will have a numerical value for each lead and can alter inbound marketing to target specific factors to generate more leads that meet specific criteria. It also allows marketing to better refine its messaging for top leads, testing approaches that might not work for less interested leads. For instance, you might be able to contact these leads more often or be more aggressive with your calls to action (CTAs). It also allows you to identify those highly satisfied customers who can act as champions for your company, especially when given encouragement through a targeted campaign.

How to keep B2B sales score

Setting up a scorecard can be relatively simple, by identifying the most important factors and giving them more weight than the “nice-to-haves.” First you need to establish the minimum criteria by which a customer is defined. These are qualifying characteristics, like: Must be in a specific service area, or Must be 21 years of age or older.  Then, identify the qualities that your targets usually possess. These are common but not necessarily essential, like the table stakes criteria we just discussed. The marketing department should be able to provide data here as they’ve likely done extensive research into who your typical customer is. Third step is to identify your ideal customer, those who the sales team would regard as having the most potential. What makes one prospect better than another? Someone in control of a certain size budget? A short timeframe in which to make a purchase?

Now that the characteristics have been listed it’s time to assess the behaviour of leads, the kinds of activities that suggest their level of interest and readiness to purchase. These activities are what moves them up or down the rankings, depending on the kind of activities they’ve engaged in and how frequently they’ve interacted.

Make a list of behaviours

Begin by listing all possible behaviour sales leads can engage in. While some behaviours are more important than others, it can be helpful to assign a point value to all behaviour (even if it is a very small value). So, don’t leave anything out just because it seems unimportant. Your scorecard should include site visits, fill forms, download requests, webinar participation and more. Here are some of the lead’s activities that earn points in the lead scoring model:

  • Visited a webpage
  • Number of website sessions
  • Participated in a webinar
  • Looked at pricing
  • Started a free trial
  • Filled out a contact form
  • Downloaded a lead magnet, like a white paper
  • Opened an email
  • Clicked on a link in a newsletter
  • Replied or forwarded an email
  • Shared content on social media

Some of these behaviors will be “critical conversion behaviours” (activities that most of your leads do prior to becoming customers). These might be things like signing up for a free trial or requesting a sales demo. A thorough analysis of your Google Analytics data should make these defining behaviours obvious.  Mark your critical conversion behaviours with a star so you can give them appropriate emphasis when it’s time to assign points to rules.

Assigning points

For most companies a straightforward 1-to-100-point model will be enough. For B2B lead generation, a company might want to use a thousand-digit ranking, giving small, medium and large businesses a 1, 2 and 3 first digit. So, a lead with a score of 3062 would be a large company with a 62-point score. Another technique is to define the three (or more) minimum criteria – “table stakes” – to be considered eligible as a lead. If you assign 100 points to each of these, and decide they need to have at least three of these essential characteristics to qualify, then a lead with a score of 435 would go into the pool, but one with a score of 282 would not. This ensures that a bad lead never makes its way to the sales team, no matter how many of the behaviours rules they trigger.

Reassess lead scoring criteria regularly

Setting up a sales lead scoring system can be as simple, or as complicated, as you can get, given your marketing data. You’ll have to tweak it as you use it and check it against conversions regularly to ensure you have set up a system that works. Remember: no matter how qualified a lead is, some will never convert. So be prepared to see some inconsistencies when reviewing results.

We know all about lead scoring because we’ve implemented it for dozens of our B2B clients in all kinds of industries. Learn more about how 360 Leads can help you put together a winning lead scoring system, by contacting us.