If you're in the business-to-business (B2B) world, then you know that generating sales leads is essential to sustaining a successful sales pipeline. But what exactly is B2B sales lead generation? And how can you go about doing it effectively?
This guide provides an introduction to the basics of b2b lead generation and offers tips and strategies for generating leads that will help you close more deals. To keep up with the current times, our guide will also take into account how lead generation events have shifted into the virtual world.
So whether you're just getting started or you're looking for ways to improve your current lead generation process, read on for some valuable insights.
What is B2B lead generation?
B2B lead generation is the process of identifying the ideal customers for your product or service, and after which, attracting them to buy. It is an essential activity for B2B sales and marketing teams.
What is a B2B lead?
In B2B lead generation, a B2B lead is a term given to those businesses that have been identified as potential customers for your business and would likely find value from using your product or service.
Is lead generation important?
One of the foundational elements of growing a business is having access to a steady stream of sales leads. And this is exactly what lead generation does. It helps you reach more people and boost revenues. Without lead generation, it would be really challenging to attract new customers and sales opportunities.
The lead generation process
Now you're probably wondering "What is the lead generation process?". In general, the process consists of 3 main steps.
Step 1: a visitor discovers your business through one of your marketing channels, such as your website, blog, or social media page.
Step 2: the visitor then clicks on your call-to-action (CTA). This is usually in the form of an image, button or message that encourages website visitors to take some sort of action.
Step 3: That CTA takes your visitor to a landing page (a web page that is designed to capture lead information in exchange for an offer). This is where you'll obtain the visitor's name and contact information, signalling that the visitor is interested in your product or service and hence the visitor is now a lead. Congratulations!
Marketing channels to generate exposure for your business
In order to generate a sales lead, you must first generate exposure for your business. There are a number of ways to do this, and you can get as creative as you would like. Here are some ideas:
- Using social media
- Getting referrals from your existing customers
- Participating in tradeshows and networking events
- Revisiting closed or lost opportunities
- Implementing an email sequence
- Running advertisements
- Search Engine Optimisation (SEO)
Virtual Events: A new and innovative way to generate exposure for your business
Over the last couple of years, networking events like trade shows and conferences have shifted online, thus offering another marketing channel businesses can use to reach more potential customers.
Since then, platforms and software on which these events are held have innovated themselves and upgraded their features so that event organizers, participants and exhibitors of events like virtual trade shows, virtual product launches, virtual conferences and more can benefit.
At EventX, we strongly recommend businesses to consider organizing or participating in virtual events as a means of generating exposure because we have personally seen how virtual events have benefited our clients. Virtual events present businesses with great opportunities to reach a bigger audience from all over the world. If you're interested in getting global exposure for your business, we recommend participating in virtual events.
EventX: your trusted virtual event lead generation engine
When you organize a virtual event like a webinar or a virtual product launch on EventX, you'll be able to focus on converting the leads because we will find the leads for you.
You'll be able to bring down your price-per-lead while improving the quality of your contacts, convert your clients within one or two hours of your webinar, and you'll have full control over the full funnels using webinar marketing.
With EventX, you'll also get to interact with your potential leads through features like polls, chats and Q&As so you can get immediate responses from them and understand their thoughts. This makes it easier for you to add some human touch to your brand, even through the screen.
We've got a lead! Now what?
After each lead has been generated, it is important to follow up with them as this is the “warmest” moment of their lead lifespan. At this juncture, they are most interested in your product or service than they've ever been; when handled properly, they are likely to convert.
Now that they’ve willingly given you their contact information, it is best to thank them, whether through a thank you page or an email, and afterwards, proceed with bringing them down the sales funnel.
Frequently Asked Questions About B2B Lead Generation
What is a good quality lead?
Good quality leads are ideal prospects with a high tendency to convert into paying customers. Often, these are prospective buyers who are well informed about your product or service and are ready to make a purchase.
Is organizing/participating in virtual events really worth it?
For businesses that are looking to expand their reach beyond their local borders, virtual events are a great and cost-effective way to get up close and personal with prospective buyers from all over the world. At EventX, we have connected over 20,000 clients to more than 3 million attendees across 102 cities.
Is B2C or B2B lead generation better?
There is no definite answer as this greatly depends on your business strategy, products, industry and goals. It is best to do thorough research on your industry and determine your business goals so that you can come up with an appropriate business strategy and identify the best target audience.
Is B2C or B2B lead generation easier?
As the buying process of a consumer is much simpler, B2C lead generation is easier. B2B lead generation is much more complex and would require extensive research on the client’s side. This is likely because a B2B sale is much larger than a B2C sale as it is a transaction between two businesses.