Lead generation is always challenging, but it becomes even tougher when you factor in external influences, such as global inflation or during a pandemic. As more businesses seek strategies to optimize their performance in the face of rising costs, one of the concerns on many B2B businesses’ minds is how to maintain a healthy lead generation through these difficult times.
Fortunately, one of the best ways to ensure you keep generating leads is by integrating a B2B sales lead gen tool into your business’s systems. These tools take away the stress and errors associated with manually entering lead information into marketing tools at a reduced cost, thus increasing productivity and maintaining the flow of leads.
Build highly targeted lists of prospects based on specific data points
Now more than ever is the best time to target only highly qualified leads. You don’t want to exhaust your marketing budget on anyone who doesn’t need your product or service, as targeting such customers results in low response rates and reduced sales. So, focusing only on prospects that fit your customer profile to a T is essential.
Many lead-generation sales tools help you target only prospects with a high likelihood of converting by building prospect lists based on criteria and advanced data points that match your ideal buyer. While setting up, input criteria, such as desired company size, industry, and location, and the tool will filter out companies that don’t match these specifications. This defined list makes it easier for you to contact only high-quality leads with your offer.
Make judicious cost cuts by eliminating manual outreach
Traditional, manual methods of reaching out to leads can be expensive and take up some resources. According to the McKinsey Global Institute, 30 percent of sales tasks can be automated. Still, few companies are fully aware of this and how to take advantage of it for cost efficiency.
Take note of outreach areas with the most spending and research the underlying drivers of their high costs to help cut back on spending on those areas in the short term. Identify the best spots to cut or trim costs and move those efforts to automated processes to help save company funds and improve return on investments. Avoid making broad-based cuts that could jeopardize your lead generation strategy so you don’t lose valuable leads because of budget costs. The correct implementation tactics will also lead to increased customer satisfaction and revenue.
Allow enough time to build compelling lead engagement strategies
Making decisions, developing goals, and identifying and implementing what activities will position your business in the best light to increase lead engagement shouldn’t be taken lightly. Much thought, brainstorming, and research are put into this activity, so giving your sales team enough time to plan is essential.
The sales team needs to start strategizing and planning how best to interact with leads early to ensure they have all the necessary resources. With ample time, they’ll develop a solid plan for engaging with leads to ensure they optimize each process for maximum effectiveness. This tactic is vital for an inbound sales strategy when lead capturing, engagement, and nurturing are important. Leaving things to the last minute can result in rushed techniques that aren’t thoroughly researched. Such approaches often fail, wasting time and resources you can put to much better use in lean times.
Get spending visibility with B2B sales lead gen tools
Understand where money is being spent, who is spending it, and how they’re spending it. This goes a long way toward expense management as it promotes accountability and ensures everyone understands the impact of their spending decisions.
Using B2B lead gen tools can help provide transparency on marketing spending since you can see exactly how many dollars go into each aspect of its operations. Costs can be trimmed or tweaked in different areas that aren’t yielding the best results to make the most of your business’s marketing budget.
As inflation remains a concern for many businesses, not just in the B2B landscape but across several industries, your business needs to determine what’s essential for its lead generation. Integrating LinkedIn automation tools like Zopto allows your business to optimize its lead generation and realize cost savings at the same time. Contact us today to learn more about how we can help your business weather inflation and maintain stability.