B2B Monday Myth: The More Leads the Better
by MGB2B
The Myth: More Leads Means More Conversions, and Thus More Profits
The Truth: Quality and Not Quantity Is What Leads to Conversions
Sure, it might seem like common sense. But how many times have you heard someone say “we’re just not getting enough leads coming in”? If you’ve heard this complaint once or twice – or perhaps you’ve complained about it yourself – you’ll want to read on about how to get quality leads over quantity. Often, it’s better to narrow your approach instead of casting a wider net and catching whatever happens to float in. By filtering out bad leads, you can increase your conversion rate, which is more important than having more leads.
To keep with the fishing metaphor, let’s say you’re only looking for red snapper. If you throw out your lines where snapper don’t usually swim, you’re going to catch a lot of fish that you don’t want and no snapper. Best to drop your line in the spots where snapper like to swim. You may only catch one or two, but you’ll get what you want. It’s as simple as that.
How to Get Quality B2B Leads:
- Tightly Define What a Quality Lead Means. Start with some buyer personas, to make sure all of your marketing efforts are targeted at the right people. But go beyond that. While there are many people who might fall under your buyer persona categories, you also need to examine their behavior. Perhaps a lead is someone who has spent time on your website and downloaded a particular piece of content like a white paper. Or maybe it’s someone who’s filled out a form on your website. You and your team need to agree on the criteria to determine what is considered a quality lead and not just a tire-kicker.
- Implement a Proper Paid Search Campaign. Paid Search is perhaps one of the most misused tools in the B2B marketing arsenal. When done properly, it can get the right leads through the right doors, and thus turn into an effective lead generation machine.
- Consider Retargeting Ads. Retargeting is when you serve up ads to people who visited your website, but the ads appear on other websites. Undoubtedly you’ve experienced this from other brands. A jacket you looked at on one site shows up on a news site your visiting. Or a hotel website you visited for your upcoming vacation serves you an ad on a blog you like to read. It’s not by accident that this is happening. It’s a highly effective tactic that works just as well for B2B brands as B2C.
- Partner with a Trade Publication Who Will Share Lists. Supplementing your own list of prospects with one from a trade pub is a smart approach to lead generation. Even if they won’t give you the list, they might allow you to send out an e-blast to either a portion or all of their subscribers if you already spend money on advertising opportunities with them. It’s a great way to keep your list growing with high quality leads.
- Score Those Leads. If you use CRM (customer relationship management) software, you most likely have the ability to score all leads that come in online (via website, social media, emails, online ads, etc.). They are scored based on a number of things including behavior, engagement, and demographics. And you can weight them however you like. So if Engineer is the most important job title you’re looking for, you can give that a higher score than other job titles. If you don’t want administrative staff to get into your sales funnel, you can give them a lower score.
- Look at Your Data Frequently. You can’t just set it and forget it. The data that comes from your campaigns will tell you what’s working and what’s not. And whether you use a CRM system or Google Analytics, or any other program to measure data, what you see happening each month can tell you quite a bit. You’ll discover which campaigns, search terms, and platforms are most effective.
- Refine Your Process Based on What the Data Is Telling You. Take what you learned from the previous step and rework each step to fine-tune your approach. Cut out what’s not working and test new things to make your marketing dollars work harder.
Again, the overarching goal is to increase your conversion rate. When it comes right down to it, what would you rather have: more fish in your net, or on your table?
Tags: how to get quality B2B leads, lead generation, lead scoring, paid search, retargeting, trade publications