Weekly marketing wisdom you can read in 5 minutes, for free. Add remarkable ideas and insights to your inbox, once a week, by subscribing to our newsletter.
The Top 10 Facts About B2B Lead Generation
A lot of our content is focused around those who are selling to customers. However what about Business to Business or B2B as it is better known. Business to Business sales are relatively similar but can demand a different style of approach. This article will focus on the top 10 facts about B2B Lead Generation, and also some tips to help you along the way.
What are the facts?
The facts below are a combination of positive points from B2B marketing, as well as some statistics which highlight the tougher side of B2B.
- The biggest challenge to B2B marketers is generating high-quality leads
As with all businesses the quality of the leads you are able to produce is going to be the measurement of success. B2B marketers are competing in a vastly saturated market most of the time. Therefore knowing who is going to be able to generate revenue and who isn’t is sometimes a difficult task.
Creating a sales pipeline is going to be integral to success. Having multiple leads, and pre qualifying is a great way to prioritise the leads you need to actively pursue. This will be different for each sector and market.
- The most effective methods are telemarketing and email marketing
There are many techniques which marketers can use, and with B2B this is no different. However the days of the cold call are still not over, and being able to actually speak with your leads is going to be the best way to build rapport.
Email marketing is always going to be a difficult way to market products, especially with the tightening of spam filters. Emails are only going to be effective if they are previous clients, or leads which you have spoken to previously. Having that association means your emails are more likely to be opened instead of put in the trash.
- Nearly 50% of B2B Marketers have generated leads via LinkedIn
LinkedIn is one of the most useful social media tools for those working in the B2B world. Being able to connect with key decision makers, owners and also business development teams means that your network is built to succeed.
Also, many businesses will promote themselves on LinkedIn. As well as anything they are looking to outsource or need assistance with. This presents opportunities to contact them and offer your products and services.
- B2B Companies that blog generate 60% more Leads
As we will discuss later in this article of the top 10 facts about B2B lead generation, you will see content is key to generating organic traffic. Companies who target businesses directly will find having a blog allows them to demonstrate their experience and knowledge.
What it also does is provides a chance to have a better SEO ranking. This could mean when you post on your blog, companies who are looking for that specific service may be able to find you easier. SEO rankings can take a while to come, so being consistent with your blog is going to be key.
- 71% of B2B marketers use content marketing to generate more leads
Content marketing is one of the best marketing outlets you can utilise in order to help with your organic traffic. Content can help to build a rapport with your audience by offering advice or opinion on key topic areas within your field.
Within content marketing you will utilise SEO to raise your search ranking. From your search ranking you will be more likely to attract those who are searching for the key terms you base your content on.
Also from a content perspective, sharing this via your social channels to your network can really help your standing within the market space. If your potential clients see your advice, or comments on a topic they will find confidence to trust you with their business needs.
- Most B2B Marketers stated Social Media is the hardest tool for them to use
Social media is a beast in itself, and being able to tame it does take time and a lot of consistency. Being consistent, promoting your content and building your brand is what ultimately gets you noticed on all the platforms.
When it comes to platforms you need to be focused on what is going to be best for your target audience. LinkedIn is usually going to be your go to if you are looking to work directly with businesses. However, having a presence on Facebook and Instagram is also a good way to go.
- B2B Companies find outsourcing their Lead Generation to be 43% more effective.
Outsourcing lead generation has become more popular over time. Purely from the point that lead generation companies have the expertise to pass on qualified leads. A qualified lead can save time, and also generate more revenue for a business.
Yes, there is a cost associated with outsourcing your lead generation. However, if you are a smaller business it can save you a lot of time in business development and generating leads in a more organic fashion. A lead generation business will be able to present potential customers to you.
- Lack of lead nurture is what causes most B2B leads to be lost
Nurturing your leads is vitally important to their overall success. Nurture comes in the form of making sure if you have leads, or even potential leads you are keeping in contact. A lack of contact can mean a competitor is able to come in and close the deal.
Once you have spoken to a lead, and qualified them it is important to keep in regular contact. This is also beneficial as their requirements may have changed, and you may need to adapt your process to best support them.
- 39% or marketers have generated leads through Facebook
Facebook is the world’s largest social media platform and still provides one of the largest reaches available. The introduction of company pages means that more businesses utilise the platform in order to market to their customers. However, from a B2B basis it’s slightly harder.
Most of the marketing on the platform cannot be aimed at the B2B market, as your efforts will be aimed at gaining traffic from actual people not companies. There is a chance that you may attract a business owner, but the chances are slim. This is why utilising platforms such as LinkedIn are very important for social media use.
- Expertise in lead nurturing can result in 50% increase in sales ready leads, and also be 33% more cost effective
As discussed above, lead nurturing is vitally important to having a positive conversion rate. If you are used to nurturing leads then you may be 50% more likely to have qualified leads which can be turned into revenue streams.
A higher level of return on investment can mean that you are using your time in a more cost effective way. Being able to cut costs by 33% but raise your success rate by 50% is a really great way to generate extra business.
B2B Lead Generation is a key focus for many businesses, as you will find most companies will have some function that works directly on a B2B basis. B2B does differ from B2C in terms of the approach, and also the focus on areas such as social media. Ensuring you are able to generate leads, nurture and close them is going to be the focus area for most.