What is B2B Lead Generation?
What is B2B Lead generation? In today’s competitive world, it is important to have a way to connect with your ideal prospects. Lead generation provides you with an exceptional opportunity to do just that. B2B refers to marketing and sales in the business-to-business arena, rather than between business and individual clients.
With what is b2b lead generation you will identify the right ideal customers, and then bring them into contact with your company. This vital activity for B2B marketing teams has a great deal of value. It enables companies to leverage their brand equity, while also reaching out to an additional array of prospective buyers. This knowledge hub includes a multitude of resources to help describe the value of b2b lead generation and provide practical recommendations for getting it started in your organization today.
There are two primary ways that companies can generate inbound leads. The first is traditional direct marketing which targets specific audiences. These may be professional marketers, like inbound telemarketers or creative agencies. The other way is much less predictable, and thus much more expensive. B2B marketers use techniques like online advertising, B2B phone conferences and webinars, social media marketing, viral marketing campaigns and more.
There are four channels through which companies can generate leads. These include demand based, incentive based, customer initiated channels, and non-promotional channels. Let’s look at each of these in turn.
Demand based channels have little to do with what is b2b lead generation. These include cold calling, telemarketing, and promotional marketing. Cold calling is a very ineffective method, because most people will not engage with marketing because they simply do not want to be contacted. Telemarketing has also proven to be quite ineffective. Incentive based marketing strategies like coupons and discounts rarely convert, and those that do tend to be quickly swiped away. Non-promotional channels, on the other hand, allow marketers to promote to individuals who would otherwise not be interested in what they are offering.
In order to have successful lead generation through these channels, marketers must work to create a proper customer funnel. The customer funnel is a series of stages that ensures that only targeted leads enter the sales process. This means that the funnel only allows customers that meet pre-qualification requirements make it through the sales process. Those who do not meet requirements, are either passed along or directed to another agent.
The importance of this concept is crystal clear. When leads are only eligible for a certain percentage of products or services, you are taking a large amount of time and energy away from creating quality sales leads. This could prove to be detrimental to your efforts as a marketer because the sales team will have less to do to generate quality leads. Further, the sales reps will have a hard time making a consistent income, since they will be spending too much time generating leads that are not likely to become paying clients. In order to generate quality sales leads, the sales team must be able to focus their time and energy on leads that meet their sales requirements.
This is why the old adage of “you get out what you put into” is so true. You need to actively and consistently put into the marketing mix in order to make the most money. However, you need to be sure you are working with the right two groups in order to achieve your goals. Marketing and finance need to collaborate and work in concert in order to move your business forward. If you have a strong understanding of how these two groups can work together, then you are well on your way to finding more success in today’s market.