When it comes to lead generation companies, their performance can sometimes be affected by certain activities that must be avoided to achieve the desired results. There are 4 things B2B lead generation companies can avoid to ensure positive results from their lead generation efforts.
Experienced B2B lead generation companies like The Global Associates understand the fact that committing certain errors, knowingly or unknowingly, can hurt their performances in the year 2023. B2B lead generation companies need to realize they are functioning in an era of super-busy decision-makers and ever-intensifying global/ local competition, they must try and keep their operations simple and efficient. This would enable them to successfully generate quality leads regularly.
The right way to go about it:
Lead generation services must make it a point not to set unrealistic goals for themselves or their employees. Unfortunately, management does commit this mistake despite their best intentions. It’s a well-known fact, of course, that successful prospecting lays the foundation for increased sales and fatter profits, but at the same time, it puts too much pressure on lead generation teams. If your lead generation program is not performing as per your expectations, instead of blaming the team or the process without any investigation, you must set out to find out the reasons for this lack of success. However, we must first try to analyze the signs that spell out that your lead generation effort is not producing the desired results. These warning signals may be as described below.
- Low-quality leads: You are in trouble if the leads generated are not high quality. Lead generation companies often fail to define a sales-qualified lead or decided when you should turn over a lead to the sales team, so quality suffers.
- Your prospects are not identified carefully: If you haven’t defined what a sales-qualified lead is, you will be facing problems with the prospects. This will create a lot of noise wasting your time without actually producing results.
- Not able to retain customers: Building trust is imperative. If you fail to do so, you won’t be able to retain customers. This is a clear sign your lead generation effort is not going in the right direction. It costs you 6 times more when you try catching a new fish, so lead gen becomes expensive.
- You are generating very few leads or no leads at all: Well, this is a big problem! If you can create just a hand full of leads, or worse, no leads at all, it’s time you overhaul your program. This is just not sustainable.
4 Things B2B Lead Generation Companies must avoid:
Some of the reasons why you are not able to create enough quality opportunities of good quality may be as follows. B2B lead generation companies must make an effort to avoid these commonly committed errors for making their programs more effective and result-oriented.
1. Miscalculating the sales cycle
Lead generators would do well not to underestimate the sales cycle period. Let’s make it clear that the sales cycle period is the time taken from the lead generation process to finally closing the deal. Miscalculating the sales cycle would prompt you to set for yourself virtually unachievable goals. One very common mistake salespeople often tend to make is rolling in the cycle time for cold call leads, inbound leads, and referrals into a single metric. As a result, it’s common to misjudge a healthy lead as a dead one.
2. Focusing solely on closing ratios
Lead generation services often commit the error of counting only the closing ratios and ignoring the leads waiting in the sales pipeline. They fail to realize that it is equally important to monitor the efficiency of each stage of the process instead. You just cannot undermine the importance of the processes of prospecting and lead qualification. If you ignore them, you are doing yourself great harm.
3. Inaccurate sales forecast
Lead generators cannot maintain the efficiency of their program if they use an unrealistic sales forecast not based on sound principles. One must necessarily keep the referrals and inbound leads separate from the forecasting process of cold call leads to avoid any kind of confusion. You must make it a practice to evaluate each of these processes independently since they vary to a great extent.
4. Not defining key stages in the sales process
B2B lead generation companies must make it a point to identify the key stages in the sales process. This would help them frame their strategies based on previous experience. Tracking the projected sales to be generated and the sales cycle period of each lead will thus be fairly accurate. This would also help organizations in avoiding setting up unrealistic goals for themselves and their employees. Generating enough data based on previous experience always helps you keep your staff happy and motivated by having goals that can be achieved through good strategies and hard work. Accurate forecasting is mandatory for an organization, it allows them to set milestones and successfully achieve them.
About The Global Associates:
The Global Associates offers expert, affordable B2B lead generation and B2B demand generation solutions. You can ensure increased productivity of your sales team and sustainable revenue generation working with us. Our team of experienced sales and marketing professionals uses a strategic 360º approach that relies on Account Based Marketing (ABM). The Global Associates arms you with the right strategy, technology, and operations to engage well with your target audience! We offer specialized services like automated Drip Emails, scalable and technologically advanced platforms for marketing automation, direct Email marketing, hyper-personalized Emails to maximize impact, LinkedIn outreach, and conversational marketing.
B2B lead generation companies perform a job always considered one of the most unenviable in the world, it has become even tougher and more challenging in this age of extremely preoccupied decision-makers and ever-intensifying global competition. The 4 things B2B lead generation companies should avoid negatively affecting their success.