Lead generation is a central focus for any B2B organization that’s interested in driving consistent and reliable revenue. It’s an extremely important topic with vital implications, so we’re giving it the attention it deserves.
Read on to learn about all things B2B lead generation — what it is, why it matters, and how to get it right in the modern digital marketplace.
What is Lead Generation?
Lead generation encompasses all activities relating to the identification and cultivation of potential customers. Companies use a variety of sales and marketing tactics to generate leads (as we’ll cover shortly), but one way or the other, it is essential to have well-defined processes in place.
Relative to the B2C version, B2B lead generation tends to be more acutely targeted. If you sell tennis shoes, almost anyone could be a viable lead. If you sell content management software, the market is decidedly more distinct.
High levels of competition and crowded marketplaces have made B2B lead generation a major challenge for today’s companies. Those that consistently generate quality leads to gain a clear competitive advantage.
Why are Leads Important?
They fuel your sales pipeline, and thus, your business. Some percentage of leads will convert into paying customers. When that percentage is too small, however, it can be a struggle to find positive ROI with lead gen efforts.
For this reason, lead generation strategies need to balance quantity and quality. More leads theoretically mean more customers, but when only a small fraction are converting, the methods probably require some adjustment. It’s more efficient — in terms of time and cost — to develop 10 leads with a high likelihood of conversion, rather than 50 with an extremely low likelihood.
This brings us to the critical subject of lead qualification.
Interesting Read: https://hirinfotech.com/the-importance-of-business-networking/