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What is B2B lead generation? B2B lead generation is the process of identifying the ideal customers for your product or service, then attracting them to buy. It is an essential activity for B2B sales and marketing teams. This knowledge hub contains a number of resources that will help to explain the importance of B2B lead generation, and provide practical advice for getting it started at your business today. Use the links below to navigate around this page. Why is B2B lead generation important?
B2B lead generation is fundamental to the success of a business. We have identified several factors that demonstrate its importance for B2B sales and marketing teams, as well as the wider business. What are B2B leads?
In B2B lead generation, B2B leads is a business term given to those people who have been identified as potential customers for your business. They can be categorised as those who would likely find value from using your product or service. There are two types of B2B lead: Marketing-Qualified Leads
Marketing-qualified leads, or MQLs, are targeted leads who are deemed very likely to become a paying customer. The qualification is based on the engagement that the MQL has had with your business’s marketing efforts. For example: Repeatedly visiting a page on your company website.
Filling out a form, or multiple forms on your company’s website.
Downloading a piece of content that your company has produced.
Signing up to attend one of your company’s events or webinars. Sales-Qualified Leads
Sales-qualified leads, or SQLs, are MQLs who have progressed along the funnel and are deemed to be ready for engagement with your sales team. To be designated as an SQL, the lead must have shown intent to buy your company’s product or service. This intent can be expressed in several ways: During a telephone conversation with a member of your sales team.
By indicating their interest in an email or LinkedIn message.
By requesting more information about your company and offering. ?
By asking to be shown a demo of your product or service. Who conducts B2B lead generation?
B2B lead generation is a process managed by sales and marketing professionals. They may work alone or more typically in teams. For B2B lead generation to work most effectively, it is preferable for sales and marketing teams to be closely aligned. Sales
A sales team focused on B2B lead generation is often split into two groups. These groups perform separate, clearly defined tasks. The two groups are: Sales Development Representatives (SDRs) - this group is responsible for sourcing leads, engaging with them and booking meetings.
Business Development Managers (BDMs) - this group is responsible for conducting demos, closing deals and generating revenue for the business. There are several benefits to this approach: It creates a solid B2B lead generation pipeline - the SDRs create opportunities for the BDMs to action.
It empowers each employee to focus solely on one responsibility, meaning that they quickly become experts in their roles.
It builds a roadmap for career development and progression - if an SDR consistently hits their targets, they will become eligible for promotion to a BDM. Marketing
In general, there are two categories of marketers focused on B2B lead generation. While their work may overlap, their approaches to marketing are very different. These two categories are: Demand generation marketers - this group is focused on the entire B2B lead generation revenue cycle. Their mission is to nurture leads, guiding them from simply being aware of your brand to becoming a customer and finally an advocate. Growth hackers - this group is focused on generating quick revenue growth while spending as little as possible. They typically work at early-stage startups and tend to be more experimental in approach. As a general rule, the activities they undertake are often less scalable. Despite their differences, these two groups do have one thing in common - they rely on analysing data and testing to drive their decision-making and they are both laser-focused on successful B2B lead generation. How is B2B lead generation conducted?
B2B lead generation is conducted through a variety of sales and marketing activities. In this section, we will provide definitions for each of the most common ones. Sales
In sales, B2B lead generation is carried out through a process called B2B outbound. This process includes: Cold calling - SDRs telephoning B2B leads, explaining the benefits of their product or service, and qualifying the lead for future engagement. Cold calling can be done manually or through automated technology. Outbound email - SDRs contacting B2B leads via email, in the hopes of striking up a conversation. Outbound email is normally managed through email automation platforms. Social selling - SDRs following B2B leads on social media, engaging with them and developing relationships over time. In the B2B space, the major social media network is LinkedIn. Sales cadences - the combination of all of these techniques is known as a cadence. Most SDRs deploy cadences in order to increase the chances of a B2B lead responding. The goal of all of these tasks is for the B2B lead to agree to attend a product demo, which is conducted by a BDM. Marketing
For marketers, the process of B2B lead generation is also known as demand generation. There are several tactics that marketers can leverage to generate leads and demand. They are: Growth hacking - this is where B2B marketers or growth hackers deploy unusual, unorthodox techniques to create demand and grow their business quickly. Examples include incentives, contests and free tools. Content marketing - this is where marketers publish relevant, valuable content and promote them to their target audiences. Content can take many forms, including blogs, videos, webinars, podcasts and eBooks. Account-based marketing (ABM) - this is where marketers identify the key decision-makers inside a specific company (or account), and then create marketing campaigns personalised to those leads. The goals of these activities will vary depending on where the lead is in the B2B marketing funnel. It could be to attract new leads to the business or to steer existing leads towards making a purchasing decision. The importance of data in B2B lead generation
The success of B2B lead generation is dependent on the data that sales and marketing teams have. Without good-quality data, B2B lead generation cannot be conducted. If SDRs have inaccurate or incomplete contact data for their B2B leads, then it becomes impossible for them to cold call or send outbound emails. If demand generation marketers have imprecise data on their target accounts, then it becomes much harder to create and promote content that converts. Data is also fundamental to analytics and forecasting. It provides the bedrock for KPIs and benchmarks for individuals and teams; it allows companies to measure their output and results. The insights gained from studying B2B data can be invaluable. Business leaders can quickly see if there are any failings in their B2B lead generation process and make adjustments. The most successful B2B companies are those who keep on top of their data and use it in their day-to-day decision-making.
