Effective Lead Generation Tactics for Business Growth

 

Every business needs to bring in sales to operate. That means bringing in and developing leads; the people most likely to buy your products or services. Lead generation is a core area to focus on, with this being split into B2B and B2C categories.

B2C focuses solely on the end consumer, with B2B being used by companies targeting other companies as their main client base. The tactics for both of these categories differ, with B2B lead generation often being seen as the more complicated.

At a minimum, it can involve a decent bit more work, as well as developing multiple leads within the one business. Effective B2B lead generation tactics are vital for this, especially when it comes to business growth.

Without them, companies don’t have the revenues they need to grow. Let’s dive into the top tactics for B2B lead generation.

 

Exploring Effective Lead Generation Tactics

 

Before diving in, let’s make sure everyone’s on the same page about what lead generation tactics are. These are the tactics to bring in leads, with ‘leads’ being someone who expresses an interest in buying your products or services. In B2B lead generation, this will be another business.

These shouldn’t be confused with prospects. Prospects offer the potential to become leads, but they’re not leads themselves. There are four types of leads a business can focus on:

1. Marketing Qualified Leads
2. Sales Qualified Leads
3. Product Qualified Leads
4. Service Qualified Leads

These are all brought in in various ways, with the names being relatively self-explanatory. The lead generation tactics used for each can be relatively different, but they all have the same end goal: turning a lead into a client.

Most entrepreneurs and executives will already know that to an extent. At the same time, however, they mightn’t know exactly how important it is to use B2B lead generation tactics. To better understand how to identify and qualify these leads, read our guide: How to Qualify B2B Marketing Leads: A Basic Guide.

 

The Importance of Lead Generation Tactics

 

Most people already know that lead generation is important. Their reasoning behind this is that it helps to bring in more sales, which can then be used to fuel business growth. There’s a lot more to it than that, though. The main reason for this is the sales cycle.

B2B lead generation takes several months in most cases. It’s rare for it to take less time than this. It can be elongated through countless distractions, especially on the leads’ side. Lead generation tactics help to avoid this, improving the overall sales cycle. It could even speed up the sales cycle by avoiding these distractions quite a bit.

These tactics offer more than a few benefits, many of which tie back to business growth. Once leads have been qualified, a business can determine which ones offer the highest potential revenue. These are a priority, as it avoids waste time and maximises return on investment.

This optimises for profit, fuelling business growth more and more. To see this, however, B2B companies need to master modern lead generation tactics. Discover how our tailored lead generation services can help your business grow by implementing these proven strategies.

 

Mastering Modern Lead Generation Tactics

 

For this, businesses need to know how the lead generation process works. The more informed they are of the process, the more comprehensive their lead generation tactics are. Lead generation can generally be split into two categories, with both of these benefitting from specific tactics more than others.

These are:

• Inbound Lead Generation – This type of lead generation focuses on encouraging leads to contact you, rather than you reaching out to them. Content marketing and similar tactics are great for this, as are blog posts and search engine optimisation. Most lead generation tactics for this focus on targeting pain points and highlighting how a business addresses them. Done right, it makes potential leads contact the business and convert into a sale.
• Outbound Lead Generation – Outbound lead generation, as anyone would expect, is the exact opposite. It involves going out and directly contacting prospects, turning them into leads, and then converting them into a sale. This is a much more targeted approach, letting companies find and reach out to key decision-makers. It helps capture a prospect’s interest, turning them into a lead. From there, it’s a matter of pushing them along the sales funnel.

Speaking of a funnel, it’s vital to know what the lead generation funnel is and how it can be capitalised on. While multiple factors play a role in a decision to buy, there’s a process leading up to this.

That’s what people mean when they refer to the lead generation funnel. It’s the process involved in someone becoming a lead and, eventually, a sale. B2B companies need this because of the time it often takes to prospect, develop a lead, and then convert them into a sale.

In general terms, the lead generation funnel can best be summed up as:

1. Attract
2. Engage
3. Convert

Retaining a customer can also be included in this, and shouldn’t be overlooked, especially when it comes to recurring revenue and business growth. That’s where the right lead generation tactics come into play.

They drive leads across the lead generation funnel, turning them from unaware bystanders into prospects, leads, and then sales. Some tactics are much more fruitful than others, offering a higher potential conversion rate than others. For an in-depth look at lead generation strategies, check out HubSpot’s Guide to Lead Generation.

 

Innovative Lead Generation Tactics for Businesses

 

Small businesses focusing on B2B lead generation can take advantage of many of these strategies. In fact, finding and using the right tactics could be vital. It’ll affect return on investment. With a business where every cent counts, focusing on the most profitable options is recommended.

Some of the more innovative of these are:

• Creating a Robust Lead Magnet – A well-crafted lead magnet is an effective way to generate awareness and turn prospects into leads. It’s one of the more powerful tools a B2B business can use. These lead magnets can include eBooks, guides, and even industry tools.
• Implementing Referral Programs – B2B clients you already have can be some of the best lead generation resources you have. The happier they are, the more likely they are to refer others. Encourage this by introducing a referral program that encourages clients to refer your business to other companies.
• Host Webinars & Virtual Events – Webinars are virtual events are great ways to interact directly with leads and push them further along the lead generation funnel. These provide a way to educate leads while also encouraging meaningful interactions that increase the likelihood of a sale.

There’s no right or wrong approach to lead generation. It’s just a matter of going with the ones that are most effective for a business. They wouldn’t just affect sales, but boast a better return on investment than other tactics.

This can be a vital area for small businesses to focus on. That’s especially true when it comes to business growth.

 

Top Lead Generation Tactics for Growth

 

When looking for lead generation tactics that help with business growth, it’s worth focusing on a few factors. The number of leads they get you are just the tip of the iceberg. Time and resources spent on capturing and converting these leads will also be a vital part of the process.

Everyone wants the return on investment to be as high as possible. While most lead generation tactics can fall under this umbrella when done right, some stand out more than others:

1. Content Marketing – This is one of the more time-intensive strategies, but one of the more profitable long-term. It positions a business as an expert in its industry, while also increasing overall visibility and engagement. The long-term ROI is quite appealing.
2. Email Marketing – Email marketing is one of the most affordable ways to engage with leads and prospects. It pushes them along the lead generation funnel with a relatively small financial and time commitment.
3. Strong Partnerships – Working with complementary businesses in the same industry is a great source of leads. It benefits your company, as well as the ones you partner with. Collaborating in various ways lets businesses develop and convert more leads than they would’ve alone.

For these lead generation tactics to fuel business growth, it’s vital they’re done right. More than a few factors play a role in this. This puts anyone in a position to make their own lead generation tactics successful.

 

Examining Successful Lead Generation Tactics

 

Countless businesses have used every lead generation tactic they can think of. Some of them are successful, while others fail miserably. The ones that weren’t successful often don’t know what they did wrong. Multiple factors could’ve played a role in this.

Focusing on the right factors and elements plays a key role in this. No matter which lead generation tactic is used, nailing these elements helps to make them successful:

• Properly understanding the target audience
• Using the right channels to reach prospects and leads
• Designing landing pages and other assets that actually help
• Knowing how to nurture leads along the lead generation funnel

Focusing on these when implementing any lead generation tactics is vital. It’ll set the tactics up for success as much as possible. This doesn’t mean just leaving it once you’ve implemented them, however. Explore our case studies to see how we’ve helped businesses implement these tactics to drive growth.

 

How to Improve Your Lead Generation Tactics

 

A lot of work goes into putting together and implementing a sales generation tactic. This doesn’t mean it’s perfect once it’s been implemented. In fact, it could need a bit of improvement later on. Businesses see this once data starts rolling in.

With this, a business can make specific improvements to the tactics they’ve implemented. Some general improvements could help with this a lot more than others. While they’ll need tweaks for specific tactics, they can still be worth using.

Some of the more notable of these are:

• A/B test any content and CTAs the business is using
• Make sure the offer is as compelling as possible
• Be clear why leads should choose a business over competitors
• Continually measure results and adjust when needed

These should help improve a lead generation tactic more than many people might assume. Then there’s the process of continually optimising lead generation tactics.

 

Optimising Your Lead Generation Tactics

 

Optimising lead generation tactics can be slightly different than improving them. It’s a somewhat different mindset, and can involve more than a few differences. Both will help a business see better results, but the process of getting there can be a little different.

Lead generation optimisation can be a process in itself. Taking the right steps is a priority for this, especially when tying it all back into business growth. Some of the more effective of these are:

1. Define every stage of the lead generation funnel and assign responsibilities to the right people. Hold these people accountable.
2. Tailor efforts depending on where on the lead generation funnel a potential client is. This helps push them further and further along the funnel.
3. Evaluate the reasons why leads say no. This lets businesses figure out what they need to change to convert more leads in the future.
4. Know when leads are hot and when you should push. Quick turnaround times can be vital to this and making sure they actually convert.

Lead generation optimisation is an ongoing process. Putting consistent effort into it is recommended. In time, they’ll help bring in and convert more leads, even if it is a long-term process.

Lead generation is a vital part of growing any business. Without it, companies aren’t going to make nearly as many sales as they’ll need to operate. And that’s without even mentioning business growth. Using the right tactics is a vital part of this process.

There are countless B2B lead generation tactics out there, but not all of them are effective. Some perform noticeably better than others. Using these from the start is recommended.

That doesn’t mean just implementing them and letting them run. Quite the opposite. They’ll need to be refined and improved in time, with data, results, and similar factors all being involved in this. Entrepreneurs and anyone else focusing on revenue and sales would do well to focus on this.

 

It takes time, but the right mix of B2B lead generation tactics is a sure-fire way to improve business growth, both in the short- and long-term. Learn more about The Lead Generation Company’s expertise on our About Us page and request a quick quote to start your journey with TLGC.