Did you know that B2B lead generation is the top challenge for 61% of B2B marketers? (B2B Technology Marketing Community)
Well, desperate times call for desperate measures.
Got a limited budget and feeling doomed?
Never have enough time to prospect?
These are the common challenges entrepreneurs face.
So, how do you go about creating a successful B2B lead generation?
Well, it is time to get a bit optimistic because nothing is impossible in this world.
Wondering why?
Because companies expert in lead generation produces 50% more leads at 33% lower cost.
With so many options out there…
Content marketing, public speaking, networking, social selling, trade shows, advertisements, affiliate marketing…
The choices are limitless for B2B lead generation.
So, if you have a low budget, here are 3 simple steps to help you generate successful B2B leads.
Step 1: Create a laser-focused target audience for B2B lead generation
If you are selling to another business and have a limited budget, you can’t afford to be broad.
Start with a small and focused target audience.
It is understandable that the term laser focused might be a bit confusing for you.
Let us make things simple and explain the whole thing with an example.
Imagine most of your customers are from the medical field.
We all know that medicine is a vast field so you cannot come with a campaign that targets all.
This is why you will focus on a smaller group for B2B lead generation.
Your target will be female plastic surgeons based in California aged between 32 and 45.
Once you have specified your target audience, you will further define specific requirements.
For example, these plastic surgeons have websites that are poorly optimized.
The advantage of this practice is that you can give in your 100% to the marketing campaign.
Well, at this time you might be apprehensive about targeting such a small group.
Are you afraid that you might miss other opportunities? No worries. You can also target other companies and bigger groups when you are finished with the one in front of you.
Look at inMotion Real Estate Media: “The Future of Real Estate Marketing”
It is essentially a marketing company that focuses only on “commercial” real estate agencies. With a narrow focus, you are able to create a message that tailors your target audience, help you stand out and increase your conversion rate.
Higher conversion rate means lower cost in the end.
Step 2: Find out where they hang out (aka your prospecting strategy.)
The beauty of having a very focused target audience is that you can have a focused prospecting strategies.
For example, I just mentioned inMotion Real Estate Media. Since they target commercial real estate, how to get in front of their ideal clients becomes very simple.
Commercial Real Estate Development Association hosts chapter events regularly. These events will have well-qualified prospects attending the events.
Imagine being a marketing company without a focus.
You might go to events such as Chamber of Commerce or hang out at Startup LinkedIn Groups.
But, without a focus, not only will you have trouble standing out, you will also find yourself wasting precious money and energy without any results.
Have you heard of people wasting thousands of dollars on Facebook and not getting any real return on investment and B2B lead generation?
Have you ever wasted hundreds of dollars on networking activities and never landed any clients?
These problems could also be caused by lack of focus.
Cutting the long story short—————
When you have a focus, then you can come up with a strong prospecting strategy.
The prospecting strategy should lay down your line of action.
For example, the strategy should help you identify events where you can establish direct links with your prospects.
Once you identify your prospects you need to dig deeper.
You need to come up with a set of questions that reassure you that you are building links with the right prospects.
For example, to know your prospect better, ask them how they make their decisions.
However, you will need to be patient because relationship building takes a lot of time.
It may be a trial and error process for you but the results are worth it.
Step 3: Create hooks to engage with your audience.
Once you know how to get in front of your audience, you need “reasons” to connect with your prospects. It could be a lead magnet if you are prospecting online. It could also be a coffee date to discuss latest industry trends.
Some very effective “hooks” for B2B lead generation and sales includes:
- Case study or white paper about your prospects’ competitors:
Your prospects are always interested in knowing about their competitors. So, you can create a case study discussing the success factors of their competitors. This helps you stand out as an industry expert and will surely help you generate some amazing leads.
- Templates or Scripts:
If you market your service online, people love templates and scripts. Some of my most successful lead magnets are my “Ultimate Non-Salesy B2B Sales Email Templates. When it comes to lead magnet online, people are looking for information that can simplify their life and solve their problems.
- Coffee dates:
Some of my clients get great results by inviting their prospects for a coffee day and to “talk shop”. This strategy works especially well if you have many years of experience in one certain industry and are well connected.
- Come up with out of the box ideas:
Well, you do not always have to follow decided paths to engage your audience. Sometimes trying out of the box ideas is fun. If you are keen to engage your prospects, then you can consider working on startling assertions.
However, you will need to do a bit of research to figure out startling statistics. Some hook words may also make a difference. For example, try using the word “imagine” in your conversation. This helps your prospects to create a mental image of what you are talking about.
You need to find out what your prospects want so that you can bring them into your sales funnel and slowly convert them to actual clients.
That’s it. Most of the work outlined here requires very little “money” involved. You simply need to take the time to identify your ideal clients, find out where they hang out and create sales hooks to bring them into your sales funnel.
After reading this post one thing is crystal clear.
Lack of investment never becomes a hurdle for B2B lead generation but lack of creativity does.
Never let you creative instinct die away when you want to indulge in B2B lead generation.
Want to know more about B2B lead generation? Check out our mini-training, Sales Prospecting Blueprint.
Let me know how things go.
To your big sales,
Melinda
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