Attaining the right balance between lead quality and quantity is a perpetual struggle for B2B marketers. Regarding marketing reports, the higher the number of leads, the more promising the figures appear. As far as sales enablement and conversions are concerned, lead quality matters most. Garnering bulk leads can be protected because of lead quality or vice versa.
Crucial Insights from a Business Leads Provider
As B2B marketing gets increasingly competitive, businesses are looking at options beyond contact data outsourcing. What works best is a thriving database with ready-to-pursue, prequalified leads and actionable, data-driven insights. The average database seller has evolved into a business leads provider and an expert in marketing intelligence.
Here are some important insights on B2B leads quality versus quantity from database management experts and corporate leads providers:
· High-quality leads are more likely to convert into paying customers with retention and longstanding loyalty.
· The right product-prospect fit and the right ICP parameters determine the lead quality.
· A business leads provider conducts systematic lead scoring to assess the sales-readiness of the prospects in their database.
· Leads are scored based on metrics such as gated content downloads, newsletter subscriptions, queries and webinar registrations. Their sales readiness can be denoted points-wise, alphabet-wise, or with terms like cold, warm, and hot.
· Directing marketing resources towards high-quality leads will ensure a higher marketing ROI. Yet, the number of qualified leads should be enough to attain the desired sales targets.
· During the initial B2B demand generation stage, businesses should focus on creating wide-scale brand awareness. After generating sufficient demand, establishing thought leadership and creating a positive online presence, you can pursue leads qualitatively.
4 Important Ways to Balance Lead Quality and Quantity
During the initial stages of brand-building and demand generation, voluminous lead generation is important. Towards the middle and bottom of the sales funnel, the quality and conversion probability of the lead is pivotal.
Here are four important ways to balance these ends:
1. Set Clear Business Goals/Objectives: All relevant teams should be on the same page regarding the sales objectives and revenue goals.
2. Create ICP-tailored Marketing Campaigns: The B2B demand generation campaign must be targeted precisely towards a well-defined ICP.
3. Collaborate with a Business Leads Provider: Outsourcing lead generation can greatly help startups and SMEs struggling to compete against corporate giants.
4. Ensure Regular B2B Database Updates and Comprehensive Lead Scoring: A refreshed and accurate B2B database ensures marketers don’t pursue the wrong prospects. In-house lead scoring ensures that the sales team allotted leads prioritized in order of conversion probability.
Leaning too much towards lead quality without generating the desired numbers is an impractical B2B marketing strategy. Similarly, aggressive and volume-based lead generation is only possible if most of them are sales-ready. An expert B2B marketing team will always balance both sides of the coin to keep the sales machinery well-oiled. Sales, marketing, and revenue operations teams must collaborate for consistent revenue generation.