Lead generation is one of the most important challenges facing B2B marketers, with 61% of marketers agreeing. Lead generation is a “stepping in” that paves the way for potential customers to purchase a business product or service. It is also one of the most important activities that marketers engage in. How important is it? 67% of organizations rely on lead generation as the only indicator of content success. In addition , 75% of marketers use data on lead generation from regular reports to show how a campaign directly impacts a company's ROI.
However, lead generation is only the first step . In fact , about 80% of newly generated leads are never actually purchased . These leads need to grow along the Cork E-Bikes Zone sales funnel until they become paid customers. Helping leads along their buyers' journey by developing valuable relationships with them creates long-term success for your business .
This article describes 11 steps and goals to develop a B2B lead development process into an effective conversion machine.
What is lead growth?
Lead development is the process by which marketers build relationships with newly acquired leads through their consumer journeys. The ultimate goal is for leads to be motivated to buy. But how do you grow your leads?
The answer is to adopt a lead development campaign . A lead development campaign is a set of marketing messages sent to leads at preset intervals to keep them attracted. If done correctly, it gradually persuades them to put their trust and money in your business and its offerings.
Lead development campaigns, run manually or automatically (partly or entirely), aim to reconnect and reinspire business leads in the following ways:
Visit your website
Call your office
Participate in meetings and events
Download free brand content
Even the smallest purchase
Successful lead development campaigns will span multiple channels and media, including email newsletters, personalized email, social media, pay-per-click (PPC), blog posts, and other forms of marketing content.
Why is lead development essential for B2B marketers?
While some may think of lead development primarily as a B2C marketing activity, it's just as important to B2B marketers, if not more. In part, this is due to the long sales cycle inherent in B2B.
B2B sales rarely happen at the first encounter . Only 2% of customers agree to buy at the first meeting, regardless of the impression of the presentation . The remaining prospects (and B2B leads in general) need more time and information to decide if they want to do business with you.
When done correctly, lead development campaigns can generate higher quality leads and more loyal customers in the long run. Raised leads will have 4-10 times the email response rate, increase average order value (AOV) , and increase final purchases by 47% .
Well-developed leads reduce overall customer acquisition costs (CAC) by an average of 33% and increase your business's ROI by 45% .
To ensure that your business enjoys the rewards of successful lead development, here are the key steps and goals that will help you succeed in your campaign and generate a high ROI.
11 steps and goals to lead the right upbringing
1. Set goals and make plans
It's time to join 35% of B2B marketers who have a lead development plan . First, set goals for your lead development campaign. Then plan a series of actions that correspond to where each lead is in the sales funnel and what your business must offer them .
It is important to allocate the time and effort invested in lead generation to this stage. It's also most effective to plan multiple lead development strategies for different segments of your target audience.