Without effective lead generation, B2B sales will literally grind to a halt. While most companies are aware of this fact, many of these same companies neglect lead generation because they can’t pinpoint exactly how it helps to increase their bottom line.
It is crucial that B2B marketers realize that leads are more than just a list of potential customers. And they are much more than individuals or companies that have inquired about your business. Leads are prospects that have a real chance of becoming customers at some point in time.
It is these – and only these – types of leads that should be given to your sales team. This helps to ensure that your sales team has the best chance to convert qualified leads into sales.
Don’t be fooled into thinking that if you advertise or have a strong marketing communications program that you have lead generation covered. Lead generation is unique in that it relies specifically on direct-response marketing communications designed to spur a response or an action. This response can include anything from an email inquiry to a purchase.
What follows are the top four reasons lead generation helps to increase sales:
- Lead Classification: In order for leads to be called on at exactly the right time, it is important to know where a lead is in the sales funnel. If you call on a prospect too early or too late in a sales cycle, chances are you will have lost the sale.
- Email Lists: Automated email lists are most effective when those lists are broken down by particular criteria. This way each recipient on an email list gets a specifically targeted message.
- Engagement: The best way to engage leads is understand their particular wants and needs. More importantly, if they have a problem, you need to know how to solve it. If you don’t know anything about your leads, however, you have little hope of effectively engaging or connecting with them.
- Feedback: Once a lead makes a purchase, you need to understand when and why they made that purchase. This knowledge will go a long way toward understanding when the best time to approach a lead again is.
Not sure whether you should invest in lead generation for your B2B company? Remember this, statistics consistently show that companies with the most effective lead generation programs close more sales.