How to Overcome the 5 Biggest B2B Lead Generation Challenges
The more leads your venture generates, the better its business growth will be.
In simple words, you generate more revenue.
However, in the absence of a rock-solid B2B lead generation strategy, a company becomes dependent on the whims of its target audience for its revenue and growth.
|Lead generation is a process that enables B2B ventures to build visibility, credibility, and trust from a specific group of people – their potential leads. These are the high-quality prospects that help businesses drive traffic. And high quality prospects translate to high-value customers.|
Considering its increasingly crucial role, many B2B businesses find lead generation a tricky area to navigate through. In fact, a 2021 HubSpot report highlights that almost 61% of marketers consider lead generation their biggest challenge.
The reason is not that businesses fail at generating leads, rather, they fail to identify the potential hurdles that they would stumble upon.
This article will help your business rise through the challenge by eliminating the problems in B2B lead generation.
#1. Failure to Assess
You can’t merely start sending emails to every company in the hopes of landing an account. At best, this type of approach will land you a customer once in every thousand leads.
But you also run the risk of alienating relevant interests who will perceive your tactics as spam.
What you can do: Ensuring an increase in B2B lead generation is all about presenting a prospective client with your solutions.
And you can’t do that without extensive research. It is important to research each lead thoroughly, so you know exactly what they want and what their pain points are.
#2. The Absence of Infrastructure
B2B lead generation does not exist in a vacuum.
As your lead goes from generators to your sales reps, each team member can suggest new points to refine the messaging. This will enable you to set up a robust informational loop and lead to a greater sense of teamwork.
What you can do: Your lead generation capabilities will benefit from having an efficient infrastructure in place. A strong sales lead creation setup can help you to:
- Respond to inbound queries from potential clients
- Track leads throughout the buyer’s journey
- Monitor the success of your leads
- Build your buyer’s persona
#3. Your Most Valuable Tool: A Central Database
Maintaining an updated database is tedious work and many organizations struggle in this aspect. But it is one of the most important tools to strengthen your B2B lead generation capabilities.
It is also vital that you make use of centralization so that the abundance of useful information is readily available to your team members.
What you can do: Without centralization, your data is at risk of getting lost in a pile of camping-driven lists.
To build a strong database, you should:
- Ensure that every inquiry is regarded and protected as vital
- Subject such inquiries to a database verification process for accuracy
- Differentiate between “must have” database fields and “nice to have” database fields to customize lead profiles
#4. Finding Ways to Have More Conversations
It is easy to focus on the technical side of B2B lead generation such as email lists and market research.
One of the challenges to B2B sales is forgetting the human side of things.
Successful lead generation strategies pave the way for meaningful connections with prospective clients. Remember that you are pitching your product or service to solve your customers’ problems.
What you can do: Rather than relying on one-direction marketing, make use of personalized communications to start conversations, giving your prospects a chance to weigh in too.
When you interact with them, you have a greater sense of their needs. Such information will further help you to refine your pitch, build even more customized exchanges, and score more conversions.
#5. Train Your People
Providing your sales reps with a centralized database and the right information is a great start, but do you have the right people to begin with? Are you supplementing their skills with training programs and evaluations?
Quite often, businesses rely on a sales rep’s prior experience to fill the knowledge gaps in their process. But sales experience in one area might not work in another.
What you can do: Your B2B lead generation strategies will benefit when you provide your sales staff with the right script and teach them how to overcome customer inquiries in a personalized manner. This is an ongoing process of coaching and upskilling.
Fueling Your Business Growth
Lead generation, especially in the B2B space, can prove to be challenging. Added to the mix are the gamut of options at your disposal, making the process trickier.
A Gartner study highlights that lead generation is a key pain point for almost 58% of business leaders. This percentage is unlikely to go down in the future.
While increasing competition and an abundance of information has made the landscape of B2B lead generation more difficult to scale, a proper analysis of each challenge can help businesses to come up with unique solutions.
From checking your ideal customer profile to targeting research of quality contracts, well-thought-of actions can help you tackle the key challenge of B2B sales and enhance the quality of your sales process.