Identifying and pursuing prospective customers for your product or service is an important part of the process of business development. The post throws light on the importance of B2B lead generation for taking your business to greater heights.
Top service providers like The Global Associates strive hard to successfully increase B2B lead generation in order to help their clients, both small ventures and start-ups, and large corporate giants, to keep up with their growth and profitability targets in the year 2022 when ever-intensifying global competition and extremely preoccupied decision makers have completely changed the business scenario.
The constant endeavor of these experienced vendors is to bring in new customers and keep pumping fresh leads into the sales pipelines of their client organizations through effective, innovative B2B lead generation efforts to take care of the increasing competition from their rivals, locally and globally.
A well-strategized, well-planned lead generation program is capable of delivering massive results and ensuring business growth for many years to come.
What does B2B lead generation in India actually stand for? It’s the process of identifying intent-rich leads (prospective customers) and capturing their attention. These promising leads are then approached through effective methods and nurtured for sales.
Once you are able to generate the interest of the target audience, you try qualifying them based on pre-defined criteria.
B2B lead generation services strive to materialize demand by completing the customer acquisition process, these leads are prospective customers and must be converted into closed deals to give solid business to the company.
Your outcomes depend greatly on the success of your lead generation effort, so naturally, B2B lead generation becomes a crucial first part of your sales process.
Before delving into the real importance of the lead generation process, let us first understand the two types of B2B leads you to deal with:
A). Marketing qualified leads MQLs: Those customers who show engagement with your marketing activities. Visitors to marketing assets are filtered through predetermined qualifications to convert them into MQLs. The marketing team with the responsibility to generate and qualify leads may use the following criteria to qualify the leads:
- Visitors downloading or viewing content provided on your website
- Those attending company webinars with keen interest
- Customers visiting multiple product pages, session time ranging from moderate to high
- Those who sign up for free demos for your productsB). Sales-qualified leads SQLs: SQLs are marketing-qualified leads for your sales teams to qualify based on strong buying intent. These are priority leads for sales teams to try and convert into closed deals. The sales cycle is longer here, but SQLs are vital since nurturing the wrong leads would adversely impact conversion rates. B2B lead generation companies qualify and score SQLs based on predetermined criteria that are similar to those for MQLs.
The importance of generating B2B sales leads:
Effective sales development
B2B lead generation in India forms the core of sales development in an organization, helping build up and convert demand for your product or service, or solution. Your team would not be able to generate any leads without having a well-orchestrated lead generation process, and as a result, you would be staring at an empty sales pipeline that simply doesn’t augur well for the company.
2. Projecting sales and profits
While the marketing teams won’t have enough leads to reach out to, nurture, and close. This big vacuum would be enough to give company management sleepless nights since this would mean that the operating sales teams won’t have a sales pipeline full of promising leads. As a result, projecting sales and profits accurately would be very difficult, making your operations vulnerable and unsustainable.
3. Generating revenue
Lead generation has great significance for management and executive teams since it can have a lasting impact on the revenue of the organization. The endeavor of the management is to have a predictable volume of high-quality leads to arm their sales teams with better opportunities to close more deals and generate targeted revenues for the company. That makes lead generation a very crucial part of the customer acquisition process and is responsible for revenue growth.
Naturally, creating quality B2B sales leads becomes mighty important to keep your sales growing. Lead generation relies heavily on marketing channels to reach out to prospective buyers, we can classify these channels into two broad categories: a) inbound marketing, and b) outbound marketing.
Inbound marketing channels are those that generate leads from traffic sources, such as social media, online advertisements, search engines, and so on. Visitors express their interest in buying from you by approaching or signing up for your offers, these leads have higher conversion rates and shorter sales cycles.
Outbound marketing/sales – you generate leads by conducting outbound outreach through cold calling, cold emailing, social prospecting, etc. These leads have longer sales cycles and are more appropriate for selling big-ticket products.
Target the right audience and behave like a problem solver having their problems and best interests at heart to make your B2B lead generation campaign a roaring success. This holds great significance for sales organizations, both large and small, to ensure sustainable growth and good profit margins.