21 Jun How to Manage Data to Accelerate your Lead Generation Process
To successfully conduct b2b sales, you must follow an effective lead generation process. Lead generation is the foundation of a sales funnel as it connects you with your leads that will eventually convert into your potential audience. As per a survey, 15% of marketers measure their success by the number of leads they have generated over time. In fact, generating leads is among the top priority of marketers because it helps secure business influencers or promoters.
Any person interested in your business, product or service and engages with it to learn more about it is called a lead. They belong to a broader and diverse lifecycle that you need to attract using effective marketing, sales and lead generation strategies.
In this process, one thing that helps you at large is b2b data. In fact, 42% of lead generation strategies fail because of a lack of high-quality data, and 38% fail because of insufficient insights into the potential audience.
With data, you get relevant information about your leads that you can use to convert them into influencers or promoters. Read below to learn more about lead generation and its importance. We have also discussed how database marketing can help you in sales acceleration.
What is Lead Generation?
Lead generation is a process in which you use different marketing strategies, platforms and tactics, such as paid ads, blog posts, social media, live events and email marketing, to attract people interested in your product, service or business. By mapping a lead generation strategy, you aim to foster a lasting relationship with your target leads that may convert into prospects.
This process helps you move your leads from the marketing process to sales by offering them insights into your business and how it can benefit the other party. Lead generation helps influence people that will eventually make a purchase, contributing to its growth and development.
Why is Lead Generation Important?
Understand this simple equation, lead generation = leads = sales = revenue.
Now imagine your marketing strategies or sales process without lead generation; you will hardly be able to make any sales or engagement. Lead generation helps you build organic relationships with other businesses and customers as they’ve already shown interest in your services or products. It takes you a step ahead in successful lead acquisition in which you get to know your potential prospect better, helping you form a personalized lead nurturing strategy.
Importance of B2B Data for Sales Acceleration
A combination of effective inbound lead generation strategies and data-driven insights is what you need to attract your b2b sales leads. Data is critical to every lead generation process as it allows you to understand your leads’ needs and pain points.
Most companies use their records, social media sites, third-party insights, customer relationship management (CRM) and marketing automation tools to gather information about their leads. The sales team can work closely with the marketing department to learn about the potential leads’ offline and online behaviour to understand their buying habits and engagement rate.
High-quality data can also help you determine customer satisfaction and operational efficiency. Globally, 52% of organizations maintain a quality database to improve cost savings and boost best marketing practices. Data helps companies in different ways, such as:
- It allows you to monitor the behaviour of your leads before and after you engage with them using different lead generation strategies or database marketing techniques.
- In a survey, 57% of respondents agreed to share their personal information to receive personalized deals and offers, meaning data can help you customize the lead nurturing process for successful lead conversion.
- Data also helps you tailor your lead generation campaign by allowing you to focus on strategies with a maximum engagement rate. It also enables you to build a focused and data-driven buyer’s persona, eliminating the grey area between sales lead vs. prospect.
Visit Linked Strategies to get more such insights to build a successful lead generation campaign for your company. Our team works dedicatedly to share proven methodologies and techniques to help you with successful lead nurturing and engagement.