The primary goal of any business is to grow its market footprint, and in order to drive growth, it must maximize sales. The most proactive method used by companies to grow sales revenues is to generate qualified leads that will convert into buyers.
The quality and quantity of leads a company can generally have a direct impact on its revenue and total profit margins. But lead generation is not a cookie-cutter system that can be blindly applied to all industries and organizations.
Every sales team needs to build its own lead generation and lead nurturing system. However, some basic tried and tested strategies for lead generation can give your business the basic framework needed to edge out all competitors.
Some B2B Lead Generation Strategies to Enhance Conversion Rates
Most businesses use a standard lead generation strategy to track their website visitors and send them targeted marketing and sales pitches. In many cases, the leads are acted upon through automated CRM systems.
But let us look beyond the basics into more advanced and nuanced strategies to step up B2B lead generation:
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Collect Data from High Traffic Websites
According to research by Gartner, close to 71% of all B2B buyers start their buying journey with a generic internet search about their product.
Third-party contact data providers can collect this data from various high-traffic sites and give businesses an idea about the customers that may be potentially interested in their business.
Use Buyer Testimonials
A 2020 Gartner report claims that companies with more than ten authentic reviews found their website traffic to increase by almost 127% compared to companies that do not have any customer reviews.
Some studies show that customer testimonials on the website can go a long way in building customer confidence and reducing bounce rates. Companies should also increase their engagement on question-answer platforms like Quora or business review platforms like Trustpilot.
Engage in Social Selling
In today’s world, ignoring social media is no longer an option for almost anyone, and businesses are no exception. But social selling is not exactly social media marketing.
Social selling involves training employees to create effective social media accounts to connect and build long-term relationships with prospective buyers. Channels like LinkedIn can become important lead generation sources for B2B sellers.
In B2B, sales data becomes obsolete within months. People get promotions and move into different job titles; mail ids are changed when people change jobs. So it is extremely important for B2B sellers to update and cleanse their databases regularly.
Research shows that most typical organizations waste a lot of human resources, time, and money chasing leads with improper contact details and will never successfully be contacted.
Create Educational Content
In many cases, B2B buyers are looking on the internet to solve some problems in their workflow. Educational content to solve these issues will be a favorite among these prospective buyers.
Businesses that produce educational content about their industry can bring in lots of traffic to their website and may even convert these leads into sales. Youtube educational videos with embedded links to the company website have also been found to be very useful.
Research has found that B2B buyers spend nearly 27% of the time in their customer journey doing independent online research. So utilizing this phase for lead generation is very important.
Analyze Your Competitors
If your business is unable to increase conversions despite using all of the above tactics. In that case, the problem may be the value proposition of your product or service or the presence of a major competitor who might be cutting into your sales.
The solution is to thoroughly analyze your competitor’s offering and their sales and marketing strategies such as their SEO and PPC tactics to find what they are doing better. Understanding other businesses in the same industry give a company an idea about what strategies work and what doesn’t.
You can also check 21 Proven B2B Lead Generation Strategies for in-depth information. B2B lead generation is in itself a complex task. This has to be followed up by a period of lead nurturing involving personalized advertising and outreach until a conversion is ensured.
Then CRM systems need to be deployed for customer retention. This is too much work for the sales team of any organization to manage on its own successfully. For this reason, the need for a reliable B2B data partner is becoming all the more important.
Not only do you get access to your target companies and contacts at those companies, you also get sales intelligence such as buyer intent data, information about prospects visiting your website, and more such actionable data from high-value sources to help you hyper-target your ideal customer profiles.
For example, SalesIntel is one of the most reliable contact data providers in the B2B industry. They provide human-verified contacts and a three-monthly re-verification system to maintain data accuracy.
Besides providing over 100 million contacts at 18 million companies globally, the platform offers the ability to do lead scoring, and filter companies using technographic and filmographic data so that sales reps can target qualified leads in the most accurate and efficient way possible.
So if your organization is ready to scale up, then now is the right time to increase your sales velocity and switch to a B2B data partner to get the sales intelligence you need to scale fast. It will ensure that you find and connect with prospective buyers fast, and turn them into paying customers.