B2B lead generation campaign is effective if done correctly. Otherwise, it can dent your marketing budget as well as make you wind up with no leads. Due to current changes in how businesses are working due to COVID, it has become essential to concentrate on digital and social lead generating strategies aimed at being found by buyers and nurturing them into long-term relationships.
Luuminate offers updated Singapore company contacts and information that can help to run a results-driven lead generation campaign. Being equipped with lots of leads that are accurate and quality, a business can stay ahead in this competitive digital era.
Objective of lead generation
The main objective of lead generation is to generate sales, so make efforts in creating a strategy that works towards this common goal. It means cutting unqualified leads and ineffective ad campaigns that don’t contribute towards sales.
Determine target cost/lead
Identify your ROI, besides sales because you need to determine the target cost per lead. If the cost per lead increases target cost, then you will not receive positive ROI [return of Investment].
Identify target audience
Recognize your target audience, so you can reach them efficiently. For example, if your target audience is C-level executives then your campaign can focus on Google or LinkedIn. Half of the CEOs around the world are 50+, which helps to narrow your target and maximize returns on the same budget. In this way, costs can be saved by eliminating irrelevant audiences. The chase is cut, time and effort are saved in closing a sale.
Get familiar with lead generation opportunities
In this digital world, the majority of customers reside online. You gain plenty of opportunities for acquiring new leads on social media.
LinkedIn allows targeting prospects using job titles. It takes you near decision-makers, especially directors and senior management. It is not wide as Google or Facebook but effective performance-wise. LinkedIn is a costly paid advertisement platform, but with correct optimization and setup, the lead generated can be cost-effective.
Google costs depend on your location, niche, and keywords. For example, for exact similar keywords, the cost in Malaysia is much lower than in Singapore. Therefore, you can run Google ads in Malaysia rather than in Singapore. Keywords with the highest bids are costly. So, for the highest bidding keyword, if the search volume is high then the cost can be minimized and returns on the marketing budget maximized. So, for Google ad collect converting keywords and then start your search optimization efforts.
Facebook is a great B2C but can be proven equally effective for lead generation. Ad creativity is the key to a successful social media lead generation campaign.
Why do some leads don’t qualify?
For B2B, qualifying leads is the benchmark of an effective lead generation campaign. It is useless to generate high leads volume that doesn’t end up in sales. So, maintaining lead quality also matters. The reasons B2B leads don’t qualify is because of –
- Limited budget [Your quotation may exceed their budget]
- Incorrect timing [They may have just signed with another salesperson]
- Not a decision-maker [You approached the wrong person]
Non-qualified leads are a waste of effort, money, and time. Avoid this by targeting the correct audience, being flexible to modify your marketing strategies, and choosing the correct platform.
Tips to determine B2B qualified lead
- What is the company size?
- Is the company in your state?
- Will your products or services resolve any business issues?
- Are you speaking to the decision-maker?
- Is your quotation within the consumer’s budget?
Proven ways to enhance lead quality
- Enhance marketing message – Adjust messages on the landing pages and published ads. Use words like ‘Premium’ to reveal the quality of your brands. It will allow filtering consumers with low budgets. Sales rep working in customer acquisition will offer valuable feedback.
- Data analysis and ad optimization – For example, adjusting target demographics takes some time in receiving enough data for analysis. You can recognize the potential consumers who responded optimistically to your ads. Match this with sales result appointments. Pause ads targeted towards the demographic that don’t bring results. This increases ROI with the same budget.
- Enhance lead generation form – Simple forms bring high leads volume but quality trickles down. Instead of wasting time and resources make changes to the form. Choose a form that needs little more details, which filters consumers not seriously interested in buying. Increased lead quality means your sales rep spends time with genuine leads.
To gain more leads without pushing up your budget, you need to cut back on any inefficient marketing activities!