Traditional B2B lead generation practices are no longer effective in today's rapidly evolving marketplace. Companies need a robust demand generation strategy to improve their lead quality and expand the sales funnel.
Obsolete practices and manual filtering processes hamper the lead generation activities of B2B enterprises in an evolving business environment
Smart enterprises can improve their lead quality by creating a hyper-focused and multichannel demand generation strategy
On the face of it, B2B lead generation is not a complex concept. Simply put, this is a marketing tactic deployed to find and connect with the right people at the right time to grow an organization's customer pool. But conventional B2B lead generation practices can be quite time-consuming and increase overheads against low returns.
The same rule applies to the Singapore market as well where enterprises waste several resources trying to determine lead quality using an in-house filtering process. Some companies also use technology tools like sales force automation to scale and drive efficiency in the lead generation process. Still, there is a need to streamline these solutions for optimum results. Moreover, marketers face mounting pressure from CMOs to tie their B2B demand generation efforts with revenue. Let's look at the best-fit demand generation strategies that can help extract high-quality leads in Singapore and APAC markets:
Website data and inbound marketing
The website is one of the important digital demand generation tools for businesses worldwide. It is the platform where marketers can observe the digital footprints of people visiting their website. It reveals customers interests, pain points, content preferences, and even buying urgency. Many inbound marketing techniques include leveraging content marketing, webinars, paid search ads directed to the website, and other website resources to build a steady stream of high-quality leads.
Funnel-based content marketing
Content marketing is the fuel that fires every B2B demand generation engine. Prospective clients are eager to learn more about their preferred products or services at every stage in the sales funnel. In fact, around 70% of B2B buyers ranked relevant content as a very important in their buying decision. Meaningful and engaging content powers the inbound campaigns that attract and pull prospects into the sales funnel.
The most crucial aspect of a content marketing strategy is aligning the content with prospects pain points, content preferences, readiness to buy, and where they are at in their buying journey. These key points can help marketers create more relevant content that aids the audience in their buying decision which will help attract high quality and more suitable leads
Customer intent data
Another tactic that can help create a steady B2B lead generation process is leveraging intent data to connect with prospects who are looking for similar solutions. Purchase intent data reveals insights about an individual's online activities, from keywords they search on the web to their technographic, firmographic, and demographic information.
Leveraging customer intent data can help enterprises discover new prospects shorten the sales cycle, and increase customer retention. In addition, once marketers gather and analyze the customer data, it will help them effectively target their intended audience, who have a higher chance of converting than a generic audience.
Social media marketing
Social media marketing is no longer just a B2C marketing tool but also a great channel for B2B demand generation. Almost 75% of B2B executives use social networks for work purposes today than they did a year ago. To create a winning social media marketing strategy, marketers must first identify the correct platform that their target audience is using. They must then develop a seamless multichannel outreach strategy to maximize engagement across all the selected social media channels.
Besides impacting the B2B lead generation activities, social media platforms can also influence a prospect's vendor selection and purchase decisions. The most vital cog of a B2B social media strategy is to build rapport with the target audience and establish an enterprise as a thought leader, innovator, and problem solver.
Lead scoring proves beneficial in determining a leadâ s sales-readiness. It helps measure a prospect's engagement with a brand and its content. Lead scoring uses a point-based system to assign value to prospects based on their offline and online behaviour. This can help marketers gauge where the buyers are on their journey and their growing sales-readiness.
This system of B2B lead generation requires well-aligned sales and marketing functions to determine the points a prospect will get for different activities. Once a prospect has earned enough points, they can be passed to sales, flagged for follow-up, or moved into a lead nurture program. Lead scoring is vital for enterprises to maximize their B2B lead generation ROI.
Enterprise’s business expansion plans need to be updated as per the changing customer behaviour. Relying on outdated demand generation strategies can do more harm than good. Enterprises should step up and build a demand generation strategy with dynamic features to engage prospects in a better way, and generate high-quality leads consistently.
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