Tag Archives: B2B lead generation

The 4 External Reasons Why B2B Marketing Campaigns Fail

The 4 External Reasons Why B2B Marketing Campaigns FailWhether we like it or not, B2B companies face the possibility of failing.

There will always be a Damocles sword dangling over the heads of managers. And regardless of what they do for the sake of improving their B2B lead generation and their revenue, the prospect of having one’s skullcap struck by the pointed blade is unavoidable.

Here are some of the so-called external inhibitors to B2B marketing as mentioned in a Business2Community.com article by Ian Dainty:

Economy – Recession

In a recession, no matter how hard or persuasive your marketing is, you cannot get some companies to buy. Usually their clients are not buying from them, and that causes a ripple effect right through the whole economy. You need to adjust your marketing messages and the way you market and sell. You need to ensure you have a strong value proposition.

B2B Competition

All B2B companies have a lot of competition. You know better than me who your fiercest competitors are, and how you can overcome their weaknesses to secure business. If you do not believe you have much competition, simply ask your clients how many different companies contacted them in the past two months.

Client Affairs

There can also be external factors that can affect certain companies or certain markets from buying at a particular time. For example, a while ago there was a disastrous oil spill in the Gulf of Mexico. The company that caused the spill is BP, one of the largest oil companies in the world. You can bet that trying to sell anything to BP at that time, except a sure-proof way of cleaning up oil spills, was probably going to be a long sales cycle.

Government Regulations

As we all know, governments seem to have more and more of a reach within our personal and business affairs, both through taxation and through the different laws enacted in every country or jurisdiction. In Ontario, the Canadian province I live in, for example, all companies become tax collectors for the government. We already collect GST for them with the products we provide, and Ontario companies also collect PST through the new government HST. Now Canada has just passed the Canadian Anti-Spam Legislation (CASL) which can fine any individual up to a $1 million and a company up to $5 million for sending unsolicited emails. This is the toughest anti-spam legislation in any western country.

Basically, you are at the mercy of these factors, but it doesn’t say you can’t do anything to lessen their impact. Thorough analysis of each factor coupled with using the right tools business tools and strategies are vital for keeping you in profit – and so is hiring a lead generation company that knows a lot about keeping businesses efficient and in profit.

How to Become a Top Performing B2B Marketer

How to Become a Top Performing B2B MarketerAcquiring high quality B2B sales leads doesn’t involve much effort. All you need to do is to possess the proper mindset and expertise in terms of identifying and engaging the leads that will surely end in a purchase. Okay, it involves exerting a little bit of effort. You know what, scratch that, it involves a ton of work. Let’s all agree that B2B lead generation is complicated as it is and successes don’t come easy.

Do you think top performing marketers transferred high quality leads without first racking their brains for new ideas? In a Forbes article by marketing consultant and blogger Christine Crandell, such marketers think differently in terms of understanding the sales process.

Quoting from a study commissioned by automation supplier Act-on, Crandell says the best marketers set themselves apart because they:

Focus on customer retention and expansion.

While most marketers focus their time and budget on net new customer acquisition, top marketers focus on keeping customers happy and loyal.  They spend 23% and 25% of their time on retention and expansion, respectively, compared to average marketers’ 18% and 15% time, respectively.   In terms of budget investment, top performers spend 30% of their budget on expansion whereas average marketers spend only 20%.

Proactively manage the entire customer lifecycle.

Top marketers make it a point to be the central conduit for customer lifecycle engagement. They see their role as managing the relationship between their company and the customer and consider their function effective at managing the end-to-end customer lifecycle.  The result is that best-in-class marketers have happier customers.

Manage to metrics is a core competency.

Top marketers are twice as likely as average firms to tie objectives to the entire customer lifecycle.  Technology plays a key role in executing and measuring sophisticated marketing strategies. Their use of personalization and behavioral targeting and segmentation is 30% to 75% higher than average firms.  In other works, top marketers know how to leverage technology to more effectively engage prospects and customers.  And they manage metrics like response rates and satisfaction scores instead of traditional measures like number of leads.

Know their teams can make or break them.

The amount of energy spent on defining, recruiting and keeping the right set of skills is much higher than average companies. Over 92% of top performers consider having the right skilled resources a big challenge compared to only 50% of average companies. When top performers have the right skills in place that understand emerging B2B marketing trends, practices and technologies, they invest in keeping those teams aligned to objectives and external and internal customers.   

Seven Common B2B Lead Generation Mistakes You Can Make

Seven Common B2B Lead Generation Mistakes You Can Make

You know that there is a need to be your best in your B2B lead generation campaigns. After all, in the IT business, this is a necessity. Unfortunately, despite your best efforts, you might still end up making some mistakes along the way. In any case, you should be aware of these sales leads gaffes that could have a negative impact in your marketing campaign. Knowing what these are is an important first step. You can identify what measures you should be using to keep yourself from doing these again, or probably avoid them in the first place. As a marketer, it will save you from going back to the drawing board.

There are seven such mistakes you should take note of:

  1. Insufficient customer data collection – what use is your B2B appointment setting efforts if you do not collect enough data about your prospects. Details like the name of the business executives, their address, telephone number, and email are the norm, but there are other information like the decision-maker, the products being produced, the markets served, etc. that are often overlooked.
  2. Using the search engines too much – yes, it may be true that you can get a lot of prospects through the internet, but not everything can be used there at face-value. You know how frauds and scams start (basically through the internet), so you have to be really careful when it comes to this medium.
  3. Improperly qualifying B2B leads – it is one thing to generate business leads for your IT company, but to make sure that these leads will actually convert into a deal or a sale is an entirely different matter. I mean, you might get interested prospects, but are you sure that, after going through the process, they would still buy from you in the end.
  4. Delaying a product release until it is perfected – you know that some products require time and effort to develop. Unfortunately, this is not the same thing with the market. Consumer hype and expectations can be high, but this would wane if you delay the release, even just the news that you are actually making it. You try offering beta versions, or perhaps a free trial, that would give them a taste of what you are doing. It might also increase the demand for your products.
  5. Accepting every deal – believe me, a lot of orders does not actually mean a lot of sales. There is a limit to how many you can handle in a single day. An overload of orders might actually overwhelm you and your business operations, causing you to slow down or deliver sub-standard products. And no one really wants that.
  6. Outsourcing everything – yes, letting a professional IT telemarketing company might be a smart investment, but letting someone else handle your entire IT firm’s operations would not be good, especially with regards to security or customer confidentiality.
  7. Concentrating on the big customers – all business prospects that call you are potential customers, regardless of their size. Who knows, the small ones might actually help your business get more customers in the future.

Please, avoid these errors, and your B2B lead generation operations might get a better shot at winning more B2B leads.