Entries Tagged as 'Sales lead generation'

Use B2B Marketing for Sales Lead Generation: It Really is Cost-Effective

What’s a more cost-effective way of making a business-to-business sale? Saving the one-to-one sales calls until the end.

Sales lead generationMost of the fastest-growing companies I know don’t rely solely on one-to-one sales contacts to grow their business. Why? Because it’s difficult to find effective salespeople, and often it takes too long for new salespeople to start showing a favorable return on the company’s investment.

Instead, the more successful companies leverage lower cost-per-contact, one-to-many marketing tactics to address the front end of the sales pipeline: prospecting and qualifying after sales lead generation. Then they focus their more costly one-to-one in-person sales contacts on the end of the pipeline: the heavy lifting of doing demos, crafting proposals and closing sales.

Doing the Math

How many prospects do you think your salespeople can visit during a given day? Unless their territory is limited to the immediate neighborhood, I’d say they’ll probably be able to schedule a maximum of four meetings a day. Add these numbers up and you’ll find that your average salesperson can complete 200 in-person sales visits a year at most (50 days multiplied by four visits). My experience says that the average B2B close rates are close to 20 percent to 30 percent, meaning average salespeople will only close between eight and 12 sales from their 200 in-person sales calls!

They would be 40 percent more productive at closing sales if they only had to make an average of three sales visits to close a qualified business lead that was generated for them by marketing.

Use B2B Marketing

So instead of adding more salespeople to knock on more doors, use marketing to cost-effectively contact your prospects and fill the sales pipeline with qualified leads via sales lead generation tactics. Doing so will result in more sales-ready opportunities that your salespeople can turn into new business, meaning greater sales revenue and profits for your company–and maybe a raise.

The full article with more detail and calculations is available at: Sales Lead Generation and Qualification: Use B2B Marketing

 

 

Targeting Your B2B Lead Generation

When searching for leads to buy your products or services, you want to find those companies who have a problem for which you have the solution.

How do you go about finding those companies and how do you find the level of contacts you need from within the companies?

I’ve added an article to my website about the process of targeting your lead generation:

  • Rank current customers
  • Add information about each customer
  • Determine likely prospects
  • Target lead generation by market or geography
  • Research the media they use
  • Focus on B2B marketing vehicles

Read the full article: Lead Generation: Targeting your B2B lead generation

 

B2B lead generation terminology: Getting on the same page

A lead is a lead. Or is it?

I always recommend to my sales lead consulting clients that they create a glossary of terms related to their B2B lead generation programs. Why? To reduce misunderstandings.

Here’s a first draft of a glossary I gave one of my clients to help them get started writing theirs. Perhaps it can be a starting place for yours too.

Contact:

A person at company or contact name on a database

Customer:

A company, division, department or facility that has purchased from our company.

Database:

A listing of contacts at specific companies and facilities which is available for ongoing use. Also often called the Sales & Marketing Database or Customer & Prospect Database.

Decision Maker:

A contact who makes or approves the final decision to buy.

Influencer:

A contact who recommends or influences the buying decision. Also called Recommender.

Inquirer:

A contact who has responded to our company’s marketing (Website, direct marketing, exhibits, advertising, etc.). Also called Responder or Prospect.

Inquiry:

A response to our company’s marketing (website, direct marketing, exhibits, advertising, etc.). Also called Response.

Lead:

A broad term used to describe everything from lists to inquiries to tradeshow leads to sales ready opportunities. To avoid confusion, this term shouldn’t be used.

List:

A list of contacts at specific companies and facilities, as in a rented list. Also called “Database” if available for ongoing use.

Marketing Qualified Lead:

An inquirer, responder or prospect at a particular company and facility who has been “qualified” as meeting the minimum definition of what represents a sales-ready opportunity.

Prospect:

A contact who has responded to our company’s marketing (website, direct marketing, exhibits, advertising, etc.) or has been contacted and determined to have some potentional, but has not yet been qualified as being sales-ready. Also called Inquirer or Responder.

Recommender:

A contact who recommends or influences the buying decision. Also called Influencer.

Responder:

A contact who has responded to our company’s marketing (website, direct marketing, exhibits, advertising, etc.). Also called Inquirer or prospect.

Response:

A response to our company’s marketing (website, direct marketing, exhibits, advertising, etc.). Also called Inquiry.

Sales Accepted Lead:

A Marketing Qualified Lead that has been accepted by sales.

Specifier:

The contact who specifies our company’s products or services.

Suspect:

A contact who appears to be similar to our company’s Prospects, Marketing Qualified Leads, Sales Accepted Leads and Customers, but who has not specifically expressed interest or determined to be a Prospect.

Do you have terms and definitions to add to a BtoB sales lead glossary?

 

B2B Lead Generation Checklist: 22 success tips

What I like best about being a B2B lead generation consultant is I get to work with some of the best people at the best companies in the business. I get to see first-hand what works best (and what doesn’t) when it comes to generating, nurturing and identifying the qualified, sales-ready leads that salespeople, reps, resellers and distributors need.

Speaking of what works best, here are 22 tips for getting better results from your B2B lead generation programs:

  1. Aim where your prospects are
  2. Be there when they are thinking about the problem (right media, right frequency)
  3. Make it easy to find (in the search engine results, on your website, in their email inbox, etc.)
  4. Focus on generating response
  5. Get right to the point
  6. Be relevant (to their job, industry, application, problem, pain, etc.)
  7. Communicate with words and pictures (or word pictures)
  8. Choose your words carefully (use powerful words and avoid clichés)
  9. Talk second-person (lead with you and your instead of we and our)
  10. Invoke a positive emotional response (pride, happiness, etc.)
  11. Talk about pain-relief or solving problems
  12. Show them the before and after
  13. Make it easy to skim (subheads, bullets, bold fonts, links, captions, etc.)
  14. Back up your claim (prove it)
  15. Use testimonials (real people at real companies)
  16. Offer ways to learn more
  17. Make multiple offers (calls-to-action)
  18. Make offers that appeal at different stages of their buying cycle
  19. Merchandise your offers (borders, color, bold, buttons, links, etc.)
  20. Ask for the order (tell them what to do next)
  21. Give a compelling reason to respond right now
  22. Make it easy to respond (by phone, e-mail, website, coupon, reply card, etc.)

What are some of the secrets to your B2B lead generation success?

Hopefully you’ll share some of them with us.

 
Need help with B2B lead generation, marketing and sales?
For more information, please call Mac McIntosh at +1-401-294-7730, send him email at or visit www.sales-lead-experts.com