B2B Lead Generation – Every Lead Deserves Your Attention

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Many start-up companies base their revenue on the first key customer, which is often the company's only source of revenue for a long period of time. Eventually, new customers start coming in, usually from referrals. Therefore, it can be a challenge for new companies to plan an appropriate lead acquisition strategy in terms of both the product or service and the value of the leads. The value of a lead can vary depending on its source. In order to assess the value of the source, you must first count the costs incurred when acquiring a lead.

The value of a lead varies mainly depending on whether it comes from so-called inbound or outbound. In other words, it means that a potential customer can be generated inbound or outbound. Inbound cash app database include: content marketing, social media, blogging, advertising, AdWords, media publications and many others. On the other hand, outbound activities are: Cold Mail, Cold Calling or Social Selling. The former, i.e. inbound leads, are definitely cheaper methods of generating leads, in their case the segmentation possibilities are limited. On the other hand, outbound leads are definitely more expensive, but at the same time they are usually very precisely targeted, which creates a better long-term effect for the company.

Lead Value: Breakdown into lead acquisition sources: inbound and outbound.

An efficient sales organization is aware of the value of each lead and focuses on callbacks and converting each lead into opportunities. However, many companies lack a sales culture and the leads generated are not valued. The result is a very low conversion of leads into deals. As InStream Group, we often have the opportunity to check and audit sales organizations in the context of their sales culture. When conducting B2B lead generation audits, we specify one of the basic problems companies make: prospect abandonment after the second or third contact attempt. National statistics, however, show that you need at least six contact attempts to get a 90% conversion rate of leads into opportunities. Unfortunately, more than 60% of marketers give up after the second attempt. This is a very big problem for the organization because, to put it bluntly, you are letting money slip through your hands. Therefore, it is a very good and important practice to measure and provide marketers with their conversion of a lead into an opportunity and a lead each month as an average conversion to the next stage of the funnel. This allows you to build a long-term approach that positively affects lead conversion in the organization.

However, there are situations when the marketer must close the lead based on the information provided. Why? Because not every lead is suitable for processing, but each one costs the team time. A very good way to check this is to present the qualifications of the “lead” to the organization. The marketing department must very carefully mark the sources from which B2B customers are acquired. When a salesperson adds a lead to the CRM system, it must be marked according to its generation source. Then, at the stage of the sales process, after the first telephone conversation as part of the qualification or needs verification stage, the salesperson must internally qualify the lead. One of the most common lead qualification methods is bant or batna qualification .

The described methodologies assume the preparation of appropriate questions that will allow the salesperson to better understand the status of a given lead, its value and sales potential. They focus on four key elements: budget, authority, time, need . However, awareness and the ability to ask the right questions are two different concepts. Awareness allows the salesperson to qualify the customer according to the four criteria above, while the ability to ask the right questions allows to obtain useful information. Often, however, this task proves very difficult for sales teams. You can find more information on how to qualify leads according to the above methodologies on our blog.