Top 10 Tricks for B2B Sales Lead Generation

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The productivity of a sales force or distributor improves dramatically with a steady supply of qualified leads. So how do you provide your sales team with the leads that will increase their productivity by 200% or more? This fast-paced session introduces the top techniques for B2B lead generation today, from calculating the right number of leads required and setting qualification criteria, to managing lead tracking and reporting.
In this session, you’ll find out
• Your best prospecting media – and the media channels to avoid – for lead generation campaigning today.
• The single best offer strategy in B2B marketing today; plus other offers that motivate action.
• Lead qualification techniques that make your sales force happy.
• How to quadruple your campaign productivity with lead nurturing.
• The top 2 metrics that are essential to measuring the results of your lead generation investments.

Published in: Marketing, Business
  • Thanks for sharing. Outbound prospecting is so important for a more predictable sales process. We're currently using a sales prospecting tool called www.found.ly which grabs us the professional email address of our prospects in real-time, and also allows us to reach out to them using the internally built email automation tool. I'd be interested to hear if anyone else uses this system?
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  • I think the most important thing you said here is "Don't delude yourself into thinking your product will sell itself" - B2B products very rarely sell themselves. 300 people a day do a free trial of Lead411. However most miss our best features. We now attack inbound leads the same as we attack outbound leads. You have to get them on the phone/chat and show them the good stuff.
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Top 10 Tricks for B2B Sales Lead Generation

  1. 1. © 2014 Mike Moran Group LLCwww.biznology.com The Top 10 Tricks for Sales Lead Generation Ruth P. Stevens April 8, 2014 We’ll be starting soon! Thanks for joining!
  2. 2. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC Your speaker for today: Ruth P. Stevens  President of eMarketing Strategy  Author of two business books  Blogger at blog 2 @RuthPStevens ruth@ruthstevens.com 212-679-6486
  3. 3. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC THE TOP 10 TRICKS FOR SALES LEAD GENERATION Ruth P. Stevens @RuthPStevens ruth@ruthstevens.com 3
  4. 4. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC The case for lead generation marketing: Everyone hates cold calling  The sales function is your single most constrained resource.  You can triple sales productivity by reducing the number of cold calls sales people need to do. Just heading out for a round of cold calls, Boss! 4
  5. 5. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC B2B marketing is all about leads. 5
  6. 6. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC Trick #1: Decide what is a “lead” 6 Lead generation: Identifying prospective customers and assessing their likelihood to buy, in advance of making a sales call A sales lead: The name, contact information and background information on a prospective buyer A qualified lead: A prospect who is ready to see a sales person
  7. 7. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC Badges zapped at a trade show are not qualified leads 7
  8. 8. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC Trick #2: Do the math. How many leads do you need? Revenue quota per rep $3,000,000 Percent of quota self-generated 40% Quota requiring lead support ($3M*1-.40) $1,800,000 Revenue per order $60,000 Converting leads required ($1.8M/$60K) 30 Conversion rate 20% Qualified leads required per rep (30/.20) 150 8
  9. 9. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC Trick #3: Use the most productive inquiry-generation media  Solicit leads at your website.  Ask your customers for referrals.  Search engine marketing. SEO, SEM  Outbound telemarketing.  Direct mail, including dimensional mail.  Trade shows, if the audience is highly qualified.  Syndicated pay-per-lead gen programs. 9
  10. 10. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC Turn your website into a lead generating machine 10
  11. 11. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC 11 Identify site visitors by IP address IP Address Software Providers VisitorTrack VisualVisitor Demandbase Visistat 11
  12. 12. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC Lead generation media that are less productive  Cold email to rented lists.  Broadcast advertising.  Print advertising.  Trade shows, all other.  And what about social media? 12
  13. 13. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC 13 Trick #4: Use direct-response communications  Direct response is targeted, measurable communications that ask for a response.  To be successful, you must: 1. Ask for the response. 2. Track the responses using a unique key code. 3. Manage/analyze the inbound and outbound communications via a database. 4. Give an incentive to respond (the “offer”).  Lead generation is fundamentally different from branding or awareness communications. 13
  14. 14. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC 14 Trick #5: Include an offer  You need an offer to drive the response.  The natural inclination of a prospect is to do nothing.  An incentive mimics the power of the sales person.  Don’t delude yourself into thinking the product will “sell itself.” 14
  15. 15. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC Checklist of proven B2B offers  Information-based products  White paper, case study  Premium (gift, book)  Trial period  Sample  Free shipping/handling  Drawing/contest  Free installation  Continuity/replenishment  Self-assessment tool  Seminar or webinar  Demonstration  Discount  Sales call  Free lunch  Consultation or audit  Estimate  ROI calculator 15
  16. 16. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC The #1 offer in B2B today: Information-based products, aka “content”  White paper  Research report  Case study  Infographic  Brochure  Webinar, podcast  Article reprint  Book, ebook  Video  Demo  “10 Tips” document For great ideas: 16
  17. 17. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC Trick #6: Plan for campaign responses  Be ready to deliver on the offer you made.  Send out the white paper…  Deliver the demo…  Offer multiple response media.  phone, web, PURL  BRC, fax, email 17
  18. 18. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC 18 Trick #7: Qualify the leads  Not all leads are created equal.  You must find out if the prospect is ready to see a sales person, according to pre- determined qualification criteria.  Method 1: Ask the qualification questions on your response form.  Method 2: Use follow-up communications to qualify.  Email is ideal.  Phone is traditional. 18
  19. 19. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC Setting qualification criteria Establish your qualification criteria in cooperation with your sales force. 1. Demographics  Company size, industry, geography  Individual and corporate  Potential sales volume 2. Activity/behavior: “Buying signals”  Recency, frequency, significance (download, demo)  Lead source (search term, offer, ad medium) 3. BANT  Budget, authority, need, timeframe Never, ever, pass an unqualified lead to sales. 19
  20. 20. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC 20 20
  21. 21. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC King Industries created its own custom qualification criteria  Specialty chemical manufacturer.  Uses trade shows to generate leads.  5-year sales cycle.  Key criterion is sample requests. 21
  22. 22. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC 22 Trick #8: Use a lead scoring system  A: the prospect is ready to see a sales rep.  B: the prospect still needs nurturing, but the contact is to be done by the sales team.  C: the inquiry still needs nurturing, to be done by marketing.  D: an inquiry that is not worth nurturing.  Put it into the marketing database for ongoing communications, or throw it away. 22
  23. 23. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC 23 Lead scoring: The weighting method Budget $0-50k 2 $50-100k 3 $100-250k 4 $250k+ 5 Authority recommend 4 specify 3 use 2 approve 5 purchase 1 Time frame 1-3 months 5 3-6 mo. 3 6-12 mo. 1 Rep call? yes 10 no 0 Budgeted? yes 5 no 0 Score Score Score ScoreCriterion Score Example: Sales wants any lead with a 15+ score to be sent to them immediately. They would receive a lead representing an inquirer with: •a budget of $80,000 (3 points), approved (5) •who is planning to buy this quarter (5) •who is the end-user of the solution (2) They would also receive a lead representing an inquiry: •from a purchasing agent (1 point) •for a prospect with an urgent need (5) •who wants to see a sales person (10), but has no budget approved yet 23
  24. 24. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC 24 Trick #9: Nurture inquiries that are unqualified  45% of all business inquiries result in a sale—eventually. Don’t let your competitor get the business.  Institute a nurturing process.  A series of communications to build awareness and trust, and maintain contact till the prospect is ready to see a salesperson  Some nurturing tactics:  Email newsletters  Outbound telephone  Event invitations  New product announcement 24
  25. 25. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC 25 Why does nurturing pay off? Campaign Responses Qualified Leads Responses generated 100 Immediately qualified 5 5 Unqualified 95 Post-campaign Lead pool 95 Contacts reached (60%) 57 Qualified via outbound communication (20%) 11 11 Nurturing pool 84 Qualified via nurturing (30%) 25 25 Cumulative campaign lead total: 41 25
  26. 26. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC 26 Trick #10: Measure campaign results Activity-based metrics: Cost per thousand Response rate Cost per inquiry Campaign turn-around time Qualification rate Cost per qualified lead Results-based metrics: Conversion-to-sales rate Sales revenue per lead Campaign ROI Campaign expense-to- revenue ratio 26
  27. 27. © 2013 Mike Moran Group LLC © 2014 Mike Moran Group LLC Thank You ruth@ruthstevens.com @RuthPStevens Visit MaximizingLeadGeneration.com for a free sample chapter. 27

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