The b2b industry and b2b lead generation processes are both going through frequent changes. And the b2b lead generation industry facts are here to prove it. This comes as a result of increased pressure for delivering results within businesses and organizations. Marketing and sales professionals are adjusting to the b2b challenges and identify new trends and possibilities in the process.
Conducting any product marketing or sales campaign without conducting a b2b lead generation first and without goals and results that you want your business to achieve is a terrible waste of time and resources. This results in decreased product sales, ineffective b2b marketing campaign, and in lower conversion rate.
With that in mind, here are 3 of the most revealing B2B lead generation industry facts that will keep your b2b lead generation focused and up to date.
1. The biggest challenge for 61% of B2B marketing professionals is to generate high-quality leads
According to a 2013 survey, 61% of b2b marketing professionals can’t generate high-quality leads. This is by far the biggest challenge that b2b marketing and sales professionals have when it comes to b2b lead generation. And we still believe that this is the case, even in 2017 or the years to come.
61% of b2b marketing professionals can’t generate high-quality leads.
The constant battle between quality and quantity is again pictured in business. This battle is particularly important for the b2b lead generation process. It seems like businesses are still focused on quantity. Let us ask you something?
Would you rather want to do more business with quality leads or you would rather have 10,000 email contacts that are not picked with focus and probably will never convert?
We thought so too! B2B lead generation is all about quality over quantity. Call it a cycle or call it sales funnel, the sales process is complex and long as well. That’s why the lead is the most important basis for a successful sale. That’s what all is about. The sales pipeline!
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With the fast shift from traditional b2b lead generation methods and marketing to digital marketing, it’s no wonder that marketers are having a hard time to generate high-quality leads for the sales team. Only with a high-quality lead, the sales process of a given company can be improved.
2. The biggest hurdle for b2b lead generation success is not having the right staff, budget or time
Again, referring to the same survey from IDG Enterprise, these are the biggest reasons why companies are not pushing their b2b lead generation efforts to the next level. Let’s discuss briefly each of them.
Having the right staff is the basis for a successful b2b lead generation process. We all know how busy company teams are. You have your team meetings. And you have your client meetings too. Then, you have your research process and strategic planning process. By the time you realize that you need to conduct lead generation and market research first, you’ve wasted 4-6 months just on meetings and coordination.
Having the right staff is the basis for a successful b2b lead generation process.
A budget not just for lead generation purposes but for every other process as well is something that a serious company needs to plan. Everyone wants to have more resources for their power. As the trends in b2b marketing are increased, so is the amount of resources spent.
The best way to think about the b2b lead generation budget is not to think about the amount that you will spend. What you need to think about is the ROI. You need to think about what value you and your team will get if you decide to invest in a proper lead generation process. When you focus on the value that you will get, the whole way of thinking and narrative change for the better.
3. Up to 68% of B2B companies have not identified their sales funnel yet
Unfortunately, this one is a constant for most of the businesses. According to Marketing Sherpa, this is due to the complexity of B2B marketing that stepped on the scene in recent years with the development of technology and digital marketing strategies. The difficult economies and growing international organization played their role here too. Things are getting tougher for businesses when it comes to b2b lead generation.
Challenges are still increasing for B2B marketers. The lead quality is here, as well as, the lead volume. It’s really easy to increase the volume of leads. But in the end, you will sacrifice the quality of the leads.
The market evolves, and so is the buyer. Consumers want to engage with sales teams on their terms, and when they want to do it. Moreover, the consumers want to receive the content and the information that they want to receive. Adapting the way of b2b marketing to attack these increasing challenges is a key activity to do if you want to start guiding them through the sales funnel.
We hope that these top 3 B2B lead generation industry facts will instill awareness about the challenging and complex world that b2b lead generation actually is. The truth is, there is no easy way for a successful prospecting and guiding the prospect through the funnel. It takes lots of hard work and business intelligence in the competitive market to win against your competitors. Finally, that’s what will separate your b2b lead generation process from the rest and push your business higher on the marketplace.
As a startup, you need to think long-term and acquire customers that will prove profitable over a lifetime. You need to position your business in the most profitable space in the market and create a huge demand for your product. Alone you’ll spend a huge amount of time on research, digital marketing, testing, and content creation to reach the right leads. You got to ask yourself if you’re experienced enough to do it in your startup phase.
Danco is a serial entrepreneur, founder and CEO of BizzBee Solutions, proud father of a 3-year-old and a burger enthusiast. He is inspired by growth and goes above and beyond to make it possible – whether it comes to his 300+ clients or his people. Eager to learn more? Follow Danco on LinkedIn and Facebook.