In today’s digital world, there is no shortage of tactics or channels for generating B2B leads. Most of the companies are spending more digital marketing dollars now than ever before and they have more data about their prospects than they can digest. Leads are out there, but the problem seems to be identifying high-value leads.
Generating high-quality leads that have the best chance of becoming an actual customer is a major challenge. A report from last year shows that 83% of B2B marketers said that they are focusing more on lead quality over lead quantity. Other problems include long sales cycles and the ability to precisely measure ROI but the main problem is still obtaining enough quality leads.
Let’s first define what a quality lead is. If we look at the overall picture, the main criteria is that an acceptable percentage of leads become sales opportunities and clients as they go through the sales funnel. Basically, quality lead is the one on which it makes sense to spend sales resources and continue to follow up.
Balancing Lead Volume and Quality
Every B2B lead generation campaign involves balancing these two things along with cost. Finding the sweet spot for each business is crucial and you need to always keep trying to improve these metrics.
There are companies with well-established lead programs and large and expert sales teams that focus mostly on lead volume. They are looking to get as many new leads as possible into their sales funnel so their team can start following up and closing them. They usually have large budgets and will continue to fund their lead gen campaigns as long as the cost of leads remains below an acceptable threshold.
Then you have B2B companies that are focusing more on lead quality over quantity. Their budgets are usually more modest and they have limited resources. Because of this, their focus is on improving lead quality while reducing lead cost.
No matter to which group you belong, improving lead quality should be one of your main marketing goals. Here are our best methods to improve the quality of your leads.