B2B lead generation is critical, and targeting the appropriate leads is more complicated. In the process, many organizations encounter challenges in balancing the quality and quantity of their prospects.
Alongside the technological reformations, lead generation tactics have also transformed. However, maintaining the proper balance of leads is still a non-attainable goal for many companies. Stats describe that 60% of marketers fail to generate high-quality leads, and 68% of B2B companies need help generating enough leads.
In this blog, we shall discuss how to balance the quality and quantity of B2B leads and why it is crucial.
Tips to Balance in B2B Lead Generation Quality and Quantity:
Adopt Precise Segmentation Techniques:
Audience segmentation is the key to the successful lead generation process. Organizations must know their target audience to carry out marketing activities. Additionally, it will contribute to balancing the quality and quantity of leads. The audience is segmented based on their diverse set of traits. By segmenting the audience, the appropriate marketing channels can also be easily identified.
Integrate High-Quality Data:
In-depth data not only helps identify the accurate audience but also allows marketers to understand audience needs properly in B2B lead generation. Data integration makes audience segmentation, understanding market trends, and shortlisting impactful strategies easier. Maintaining quality and quantity of prospects while generating leads is more convenient with dependable and real-time information. To get quality data, ensure relying on trusted data sources.
Align Marketing and Sales Teams:
Marketing and sales go hand in hand in a commercial setup. With effective marketing, sales goals can be achieved, and more sales indicate successful marketing endeavors. So, while balancing the quality and quantity of the leads, marketing and sales teams must work together to bring the best results. In this regard, both teams should be aware of their target audience, their needs, and the organization’s objectives.
Employ Lead Scoring:
Lead scoring assists in identifying and prioritizing hot leads over cold leads. It follows a ranking method based on the attributes of the prospects. The highest-ranked leads are most likely to convert into paying customers. This method helps maintain quality and quantity in B2B lead generation through which businesses can advance.
Identify Appropriate Channels:
Choosing the correct channel is important to deploy marketing activities effectively. For example, if marketers are choosing social media for advertising but a limited number of their target audience uses such platforms then, the marketing endeavors might fail terribly. Hence, looking for the correct channel where most of the target audience is available for marketing purposes will be beneficial to generate quality leads in accurate quantity.
Why is Balancing Quality and Quantity Important in B2B Lead Generation?
Though marketers focus on generating high-quality leads to boost their conversion rate, quantity also matters to meet the marketing and sales goals of the organizations. It further indicates that a company is targeting and identifying the right audience to fill its sales funnel.
Balancing quality and quantity indicates assessing ROI, which is important for every business. While focusing on quantity, it is essential to remember that the conversion rate may remain the same. On the other hand, more quality leads may help fulfill the sales funnel.
Increased quantity signifies higher brand awareness but unsatisfactory ROI. Conversely, high-quality leads amplify returns, but it can be complicated to identify enough prospects with a high possibility of conversion.
Therefore, balancing quality and quantity will offer the best business results instead of focusing on one component in B2B lead generation.
Many organizations often prioritize quantity of leads over quality. However, they fail to accomplish their sales goals due to a lower conversion rate. On the other hand, a few companies adopt specified strategies to generate high-quality leads but to a limited quantity, impacting sales targets. This ultimately restricts the gradual development of the businesses.
Balancing both quality and quantity is the key to successful B2B lead generation. The tactics mentioned above assist in maintaining the correct equation of lead quality and quantity. Go for the most suitable strategy for your business that aligns with your business objectives. Reach out to us for extensive B2B marketing assistance.