To come up with a list of prospects that want to purchase a product from startups sounds really simple right? But, we all know how difficult it can be to generate quality leads. A lead is where the sales effort begins. And product sales are the main reason why is B2B lead generation important for startups.
Most of the startups struggle when it comes to sales and reaching out for partnerships with other companies. Salespeople often think they’ve reached their maximum list of potential clients and possible partners and continue to follow-up endlessly until they get a “yes” or “no” answer. Or, they just don’t have the right contacts that can use their products or services.
Reality Of The Marketplace
We’re sure startups work hard. This includes cold emailing thousands of companies and potential clients only to get a handful of product sales as a result. It’s really difficult today, especially for telemarketers to engage senior people in a serious conversation about product benefits. That’s the reality in the marketplace today.
Sales teams are not looking hard enough and often miss the right targets for their business. Long gone are the days when a company started the process of customer acquiring with a huge prospect list and aggressive cold calling. Aggressive sales tactics won’t work when a nurturing approach works better. Your potential clients are doing their own research online without you and only lead generation ensures that you can offer yourself as a solution to their problems.
What is a lead (qualified lead)?
The lead (qualified lead), is a prospect that met all of the agreed qualification criteria such as the right budget, decision-making authority, needs for the product or service and purchasing power. These prospects are already interested in your products and services. They’re not just looking for a way to solve their problem, they already know the way to do it, and they know you can help them. You just need to find them!
That’s why lead generation is the most important goal of any business-to-business marketing and sales department. It’s about helping the sales team drive results. Nothing is more important than delivering qualified leads for the sales force to nurture. Providing the sales department with a steady stream of qualified leads is job number one for any business, not just startups.
With the help of lead generation, startups can collect valuable information. Information like: decision maker’s first and last name, his phone number and email address. And the decision maker in a company is the best possible lead that a salesperson can get.
What is Lead Generation?
Lead generation describes the marketing process of stimulating and capturing interest in a product or service for the purpose of developing a sales pipeline. This is a pivotal step to make sure that customers and possible partners take interest in your startup.
In the B2B (Business-to-business) segment, lead generation involves strategies, techniques, and ideas that help sales professionals find the decision maker’s contact details and reach out to other managers in companies that sell products and services to other companies.
How can my startup benefit from lead generation?
Times have changed. The Internet revamped the whole process of lead generation and transformed the behavior of prospects. Today’s tech-savvy and educated clients won’t even talk to a salesperson until they feel that the salesperson has done good research on them and knows exactly what they want.
Lead generation is more science than art. Lead generation, like every other marketing process, is much improved with the help of a advanced market research process, previously discussed in our blog. Turns out, the company that researched their market in the most compelling way has the best lead generation process and wins in the marketplace as a result.
It’s a complex process with concepts and services which make potential clients engage with your company that involves not only marketing and sales but many other areas of a company too.
In B2B Lead Generation, it’s all about quality over quantity. It’s not about wide reach of potential clients, it’s about getting the right clients. Better leads always trump over many leads. Having data about a prospect means that you’re already one step ahead of the competition. To make sure you’re way ahead, your startup needs to include lead generation strategy. What can a startup do with all that data?
You need to know what you want to achieve as a startup, to clarify what are your goals. Do you want more prospects for your business? Are you trying to showcase to the executives from other companies that you’re experts in your field? There are two ways to create a winning strategy for lead generation. Companies can rely on themselves and their knowledge or they can hire experts to do it for them.
Sometimes it makes sense to explore the market yourself because “nobody knows your business better than you”. And you have an awesome website with SEO implemented that gets you on top of Google search results. But search engine and clicks do not buy your products. People buy them. You need to know people, the decision makers, the right people and have the right partner that’ll help you find them. That’s the biggest reason why is B2B lead generation important for startups.
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 on the market and create a huge demand for your product. Alone you’ll spend a huge amount of time on research, digital marketing, 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.
If your answer is “No” then you should consider BizzBee experts to do it for you. Leave the work to professionals while you focus on your product.