When it comes to B2B selling, there are many options for lead generation.
But, I think we should tackle this question from a different angle.
There are literary hundreds of methods to generate B2B leads. However, the big question or the focus should be:
Which lead generation method gives you most qualified leads in the cheapest way possible.
I called this finding the Goldmine of your qualified prospects.
Every business has its unique Goldmine.
How do you know when you find your goldmine?
There are 3 common traits when you find your goldmine to your prospects.
1. The prospects can easily resonate with what you have to offer: You have access to your ideal clients / highly qualified prospects.
2. Little competition: It’s easy for you to stand out.
3. 20–80 rule: You notice that 80% of your sales comes from a small percentage of your lead generation method.
How to find the goldmine?
Step 1. Discover where your clients hang out.
Sales like going on a road trip. You need to determine where you are going before you can decide on your mode of transportation, which is the lead gen method.
That is the common mistake people make when they just start to prospect. They often decide on one lead gen method, without knowing whether their clients are there.
For example, many people complain about networking. They are not getting the results they want and meeting their prospecting clients. They problem might not be activity itself, the problem might be that they have been going to the wrong networking events.
So, first determine where your clients hang out.
Some ideas to discover this is by asking the following questions:
- Where do my prospects to get clients? (examples: trade shows, events, work with certain service providers…)
- Where do my prospects go to get help? (example: certain coach they work with, accountants, mastermind groups, networks, associations, social groups)
- Where do my prospects go to promote themselves or their business? (example: speaking events, networking,
Step 2. Choose best prospecting strategies for your business
Not all prospecting strategies are created equal. Just because it works for one business, it does not mean it would work for the other.
How many clients do I need? Or, how many prospects do I need to reach my sales goal?
You might think that you need as many leads as possible. This is not always true.
For example, the number of leads needed to selling a six-figure account is very different from selling a $49.99 product.
Based on the # of leads you need, pick the best prospecting methods for you.
If you product is high in price, that means that you need fewer number of leads, but highly qualified leads. You can then focus on relationship building via referrals, introductions or networking.
If your product is low in pricing, you would need larger number of leads. You should then focus on automation and use advertising or in-bound marketing.
Based on step 1 (knowing where your clients hangout) and step 2 (picking the right prospecting method), that’s how I would formulate the B2B lead gen strategy.
For more information, check out
- How to Fill your Business with Prospective Clients – Complete List to Lead Generation.
- 9 Sales Prospecting Tips to Supercharge Your Sales