A recent study found that B2B companies that were successful with their lead generation saw a 50% increase in clients ready to sign on the dotted line.
However, lead generation doesn't happen overnight. Now is the time to sow some seeds if you want to reap the rewards in 12 months.
The marketing world changes fast, but there are some standout tactics that you must have on your list. Here are 11 of the best B2B lead generation strategies right now.
1. PPC Advertising
PPC stands for pay-per-click. As the name suggests, the advantage of this lead generation method is that you only pay once someone clicks on your ad.
That means you can start with a small budget, and it’s easy to scale. With PPC, you can target your ads so they are more likely to show for the right audience.
It means you will only be advertising to people within your niche, provided you get your targeting accurate. You’ll be showing your ads to audiences who have already expressed some interest in your product or service.
For example, if you run an ad on Google or Facebook, you could target people who have recently clicked on a competitor’s ad. Effective targeting means clearly understanding your customer avatar before you run the ads.
You’ll also need to research your industry and competitors, understand your target audience’s online behavior, and which platforms they frequent.
That will tell you where to best spend your ad budget, for example, Facebook, LinkedIn, or Google ads.
Search engine optimization is one of the best long-term strategies for lead generation. If you can achieve a high ranking for a relevant keyword, you’ll get high-quality leads to your website month after month.
That’s hugely important with B2B, where many businesses may start their buying process with a Google search.
The visibility boost from a high ranking on Google is also fantastic brand recognition. Other companies will see you as a leader in your field.
The key to SEO success is a sound understanding of your target customer. You need to know what searches they do at every stage of the buying process, from research to placing an order.
And you need to turn that into a set of keywords you can target with well-optimized website content. You’ll also need to ensure your website is set up to capture those leads once they arrive on Google.
That means having a lead magnet or free consultation you can offer in exchange for an email address or phone number.
3. Content Marketing
Content marketing has long been a critical tactic for generating leads, and this trend will likely continue. Content will attract visitors to your website and establish you as an expert in your niche.
In 2023, however, content will mean more than blog posts.
Customers will want a richer experience from their online content, including videos, podcasts, case studies, and white papers. Thus, you will need to consider how to produce quality content.
Most industries are seeing increasing competition in this respect, so you need to think about producing content that outperforms everything else already on the internet for that topic.
When building business leads, you should focus on content marketing at each point in your sales funnel. It works to entice new prospects, but it also effectively secures sales from warm leads or existing customers.
Use website visitor tracking to help you determine which content performs best and double down on your most effective content strategies.
Content marketing is also central to SEO. Your best chance of getting a high ranking for competitive keywords is with detailed, valuable, and relevant keywords.
4. Email Marketing
Connecting with your audience via email offers a more personal touch. For that reason, it’s an excellent opportunity to build B2B leads and promote your products or services.
Using this strategy, you’d send a range of content via email, including valuable information, personal touches, and the occasional promotional offer.
To maximize the effectiveness of your email marketing campaigns, consider personalizing your content.
For example, some leads may be interested in specific products. You could tailor the content so subscribers only receive information about products and services relevant to their needs.
It means your emails offer more value, and they’re more likely to open them. Always use analytics to monitor how your email campaigns perform. Look at open rates, click-through rates, and your list growth.
This data will help you fine-tune your approach.
You can also split-test your campaigns to help improve your key metrics. That means testing one variable (like a subject line) with half your email list and a variation on that subject line to the other half of the list.
5. Network on Social Media
Many businesses use social media to build a following and broadcast news and promotions to their audience. But have you considered using it for networking instead?
It offers an excellent way to connect one-on-one with people in the industry and grow your leads. The first step is to follow accounts relevant to your niche.
From there, start having public conversations by engaging with posts and leaving comments.
Suppose you find yourself in a deeper conversation with someone. In that case, it’s the perfect time to introduce yourself and reach out via direct message.
That doesn’t need to be promotional in any way. It’s merely about forming that connection. But that deeper relationship will help with your long-term lead generation.
That contact will know you, and they will be more likely to follow your posts on social media. If you run a promotion - like a free consultation - they are more likely to notice and take action.
6. Use Affiliates
Affiliate marketing has the advantage that you don’t have to work on lead-building yourself. Instead, you can use professional marketers and offer a financial reward each time they bring you a new lead.
If you win over the support of high-performing affiliates, it provides the potential to grow fast. To attract affiliates, you have two options.
The first is to run an in-house affiliate program and promote it to relevant marketers. The second way is to sign up to an affiliate network. That will give you access to thousands of marketers, but you will compete with other brands.
Either way, you need an attractive program with generous rewards for new leads. You’ll also need to provide marketing assets to the affiliates, such as graphics and other promotional materials.
Finally, you should share brand and promotional guidelines so that affiliates promote your business in accordance with your principles.
7. A Sales Funnel Nurturing Strategy
One way to develop your leads is to overhaul your current sales funnel. A more streamlined and marketing-focused funnel can help build a more trusted relationship with your audience and nurture the most valuable business leads.
By doing so, you’ll have a constant mix of leads learning more about you and warmer leads who are ready to buy. In the B2B arena, a good sales funnel focuses on building intimate relationships.
So it’s worth considering phone or FaceTime calls in that funnel. For example, you could offer free consultancy time by phone or run a product demo over FaceTime.
It helps customers put a voice or face to your brand, making it more personable. It also lets you get real-time feedback about your product or service, a hugely valuable way to improve your offering.
Use these opportunities to put a compelling offer in front of your lead. For example, a generous time-limited discount on a product demo will boost your conversion rate.
8. Introduce a Referral Program for Existing Clients
Introduce a customer referral program to boost leads. This strategy allows loyal and happy customers to spread the word about your business. It rewards them financially for referring you to peers and business connections.
Many types of rewards work well in this sphere. You could give a cash reward or offer money back on a service they recently bought from you.
Or you could provide a voucher offering a future discount on your services. The latter is particularly effective as it gives an incentive for them to stay with you.
Referral schemes have been transformational for some brands. Consider Dropbox, for example.
When they first came on the scene, they rewarded customers with free extra storage for each customer referral. That is a minimal cost for the company but with a significant long-term financial benefit.
If you run a referral scheme, take the time to advertise it to existing customers. Create promotional material and send it via email to invite customers to become part of your ambassador program.
Keep track of your performance data to see which customers bring in the most referrals. You could offer an extra reward or incentive, such as a generous annual prize for the best-referring customer.
9. Try Webinars and Other Online Events
Online events and webinars are great ways to generate buzz about a product or service launch. They are also highly effective strategies for generating more B2B leads.
The advantage of hosting an event is that you can position yourself as an authority in your niche and develop strong brand recognition.
It’s a high-profile way to showcase your brand while allowing customers to benefit from a relevant industry event.
Small-scale events can be equally impressive. An online webinar is a low-cost and fast way to boost your leads.
For example, you could run a webinar reporting on new industry research. Or you could give people a sneak peek at an upcoming product launch.
When planning an event, research your target audience to get a better idea of the type of event that will interest them.
Focus on providing something with plenty of value. Use the introduction and wrap-up time to discuss your business and invite the audience to leave their contact details.
10. Use Chatbots on Your Website
When used correctly, chatbots are like having an entire team of sales reps available 24/7. AI has progressed dramatically in the past two years, which means modern chatbots offer customers plenty of value.
They can write in natural language and engage your audience in a meaningful conversation.
Plus, you can configure them to help with your marketing by enticing new website visitors to sign up for your email list. So, it’s a great way to build new B2B leads.
Chatbots are easy to add to websites, but to make the most of them, you must customize them for your needs.
Determine their purpose. Will they help visitors navigate your website and direct them to your signup page? Or do you want them to get visitors to book a call with your team?
Think about finding a balance between a superior user experience and an effective marketing campaign that gets you results.
You should also tailor these chatbots to fit your company brand. That means matching your voice and style.
11. Explore a Strategic Partnership
Our final recommendation is to explore a strategic partnership with another business in your industry.
That won’t be a competitor but a B2B company in an overlapping field that serves a similar customer profile. By building a partnership, you have twice the marketing effort to generate new leads.
Remember that a good partnership is more than a match between two businesses; it offers synergy.
It provides value to your customers. So, you must focus on both companies’ strengths and determine how to capitalize on this to benefit your target audience.
You can take this strategy further, too. You could explore the potential for shared services or joint product development. The opportunities are endless.
B2B Lead Generation Strategies: Future Proofing Your Business
Effective B2B lead generation strategies are a must in 2023. Combined with a high-converting sales funnel, they offer a foolproof way to grow your business.
It means you don’t have to worry about how to find your next customer. You’ll have a pipeline that thrives, even in challenging economic climates.
But you need tools to help you monitor and optimize your performance to achieve that goal. That means having a platform to support your lead-generation efforts.
Learn why CANDDi is the best analytics solution for turning website traffic into new leads. You can register for a free trial by completing this form.