How to Create a Lead Generation Strategy Using a Business Directory
Lead generation is a vital, but often challenging aspect of any sales strategy. We all know that a steady stream of relevant prospects is essential for crafting winning campaigns, but it's not as simple as building a landing page and waiting for them to come to you.
Today's digital landscape is especially unforgiving; customers are overwhelmed by the huge amounts of content being published every single hour and as a result, many businesses are seeing disappointing conversion rates.
The chart below taken from EMedia's B2B Lead Generation Trends report shows this trend clearly; the vast majority of marketers state that their B2B lead generation is just slightly or somewhat effective.
When seeking out new contacts to target it can quickly become a time-consuming process, regardless of the industry you're in. Searching for each email address in-house will take up a lot of valuable resources, not to mention the time wasted by outdated or inaccurate details, or by constantly being met with gatekeepers. According to research from Toutapp, 71% of sales reps say that they are already spending too much time on data entry - why give them more when they could be doing something more productive?
It can also be a less than fruitful experience using inbound tactics to generate leads. Many experts suggest that around 1000 contacts is ideal for a successful marketing campaign, and using methods such as opt-in forms can realistically take a long time to gain sufficient sign-ups. As is shown in the graph below from Demand Metric, over half of businesses report that their lead generation process does not produce enough leads.
Whether you're seeing a lack of new leads, conversion rates that have plateaued or are simply looking for a more cost-effective solution to give your sales a boost, using a paid directory is often a great alternative. Why exactly should you consider this tool? There are a number of reasons, such as:
Lead Generation Challenges
When seeking out new contacts to target it can quickly become a time-consuming process, regardless of the industry you're in. Searching for each email address in-house will take up a lot of valuable resources, not to mention the time wasted by outdated or inaccurate details, or by constantly being met with gatekeepers. According to research from Toutapp, 71% of sales reps say that they are already spending too much time on data entry - why give them more when they could be doing something more productive?
It can also be a less than fruitful experience using inbound tactics to generate leads. Many experts suggest that around 1000 contacts is ideal for a successful marketing campaign, and using methods such as opt-in forms can realistically take a long time to gain sufficient sign-ups. As is shown in the graph below from Demand Metric, over half of businesses report that their lead generation process does not produce enough leads.
The Solution – Use a B2B Database
Whether you're seeing a lack of new leads, conversion rates that have plateaued or are simply looking for a more cost-effective solution to give your sales a boost, using a paid directory is often a great alternative. Why exactly should you consider this tool? There are a number of reasons, such as:
It's Immediate
By using a B2B database you'll be able to view prospects from a list of potentially millions of contacts. These can then be downloaded straight away; in the case of Global Database we offer free and unlimited Excel exports to make the process even easier.
Straight to the Point
No salesperson likes the thought of waiting around when they could be working on closing a deal. With a B2B directory you'll be able to reach right out to decision makers to tell them about your product and schedule a meeting. At Global Database all of our records contain direct email addresses and phone numbers, so you can avoid the hassle of gatekeepers.
Cost-Efficient
At Global Database we provide our users with access to the directory for a whole year included as standard, giving a constant stream of new leads with our regular additions, meaning great value for money.
Relevant Leads
As is shown in the graph below taken from the DemandWave 2017 State of B2B Digital Marketing Report, businesses are wising up to the fact that it is imperative to have leads that are relevant. Global Database has more filter options than any other similar product on the market, so you can quickly and easily narrow your search based on a range of demographic details.
Accurate Data
Using high-quality data in your campaigns is essential, which explains why the majority of market-leading businesses make it a priority, as is shown in the graph below from the Digital Doughnut State of B2B Lead Generation report. A good data provider will carry out regular and thorough tests and updates to make sure their contact data is as accurate as possible.
Being able to find the most relevant leads for your business is much better than casting out a really wide net in the hope that you'll reach the right people. A good directory will provide numerous filters based on demographic details that you can use to narrow your search, as well as giving you a more in-depth knowledge of the customer so you can tailor your communications to them. These filter options should include:
Create Highly-Targeted Lists
Being able to find the most relevant leads for your business is much better than casting out a really wide net in the hope that you'll reach the right people. A good directory will provide numerous filters based on demographic details that you can use to narrow your search, as well as giving you a more in-depth knowledge of the customer so you can tailor your communications to them. These filter options should include:
Location
Are you just looking for professionals in a certain region, country, or city?
Seniority level
In order to ensure that you are only reaching out to people who can actually make purchasing decisions, you need to narrow your search down to senior executives.
Employee size
Should you want to solely target those that work in companies with less than 1000 employees, for example, you should use this filter.
Sales Volumes
Obviously, you want to make sure that your potential clients have the budget to buy your product or service, and filtering companies depending on their revenue is the perfect way to do so.
Industry
Narrow your search down to industry sectors such as Telecoms, Banking, and HR.
Once you've downloaded your email lists, there a range of possible campaign types you can run. For example, you could try:
Introducing new products or services - An email campaign can be an extremely good way to get the word out about the launch of a new offering. Those who opted into your mailing list presumably already have an interest in your brand, so are likely to be keen to hear about your latest products.
Discounts and offers - Everyone likes to save money, so including a special deal in an email campaign can prove lucrative. Whether it be a 10% discount, a buy one get one free offer or something else entirely, giving potential customers a limited-time deal can turn them from leads into customers much quicker.
Events invitations - If your company is holding a conference, a trade show, a webinar or a different type of event, there is no better way to get people involved than directly through their inbox. Offering an early-bird incentive to your mailing list can be even more effective in driving ticket sales.
General updates - Email is also a fantastic way for your company to stay top of your customer's mind. Sending regular updates every two weeks ensures that your business isn't forgotten, and helps create a stronger overall brand awareness.
In order for your email campaigns to be successful, there are some best practices you should bear in mind. For example, when creating your content, you should always ensure that it will be seen as valuable to your audience; nowadays people have too little time to waste on reading content that isn't relevant to their needs, and giving them the hard-sell constantly will only see you gaining more unsubscribes.
You could also try A/B testing your marketing messages to decision-makers. When testing your marketing message with a paid business directory, you can use a sample of it, see how it performs, A/B test, compare and then send your message to a broader audience. Another potential testing idea is to compare the results between a paid directory and more traditional lead generation tools. After three to six months you'll have a clear picture of which works best for your company.
Finally, after you've run your campaign don't forget to follow up. Your first round of emails will usually have the lowest response rates, but research from Yesware found that you have a 21% chance of getting a reply to your second email, and if they still don't reply to that one, a 25% chance you will eventually get a response after subsequent emails. Try providing answers to any questions they may have, testimonials from other clients, or ask them their opinion on your product or service; anything that keeps the line of communication open is a positive.
Take a look at the graphic below from the B2B Lead Generation Trends report for the factors deemed most useful when it comes to customer follow ups.
Lead generation can be a stressful and frustrating business, which is why it's important to have the right tools to make it as efficient as possible. You might not have considered using a paid directory before, but doing so can give your marketing efforts a serious boost, no matter how big or small your business is, or what industry you're in.
Lead Generation Ideas
Once you've downloaded your email lists, there a range of possible campaign types you can run. For example, you could try:
Introducing new products or services - An email campaign can be an extremely good way to get the word out about the launch of a new offering. Those who opted into your mailing list presumably already have an interest in your brand, so are likely to be keen to hear about your latest products.
Discounts and offers - Everyone likes to save money, so including a special deal in an email campaign can prove lucrative. Whether it be a 10% discount, a buy one get one free offer or something else entirely, giving potential customers a limited-time deal can turn them from leads into customers much quicker.
Events invitations - If your company is holding a conference, a trade show, a webinar or a different type of event, there is no better way to get people involved than directly through their inbox. Offering an early-bird incentive to your mailing list can be even more effective in driving ticket sales.
General updates - Email is also a fantastic way for your company to stay top of your customer's mind. Sending regular updates every two weeks ensures that your business isn't forgotten, and helps create a stronger overall brand awareness.
Getting the Most out of your Lead Generation
In order for your email campaigns to be successful, there are some best practices you should bear in mind. For example, when creating your content, you should always ensure that it will be seen as valuable to your audience; nowadays people have too little time to waste on reading content that isn't relevant to their needs, and giving them the hard-sell constantly will only see you gaining more unsubscribes.
You could also try A/B testing your marketing messages to decision-makers. When testing your marketing message with a paid business directory, you can use a sample of it, see how it performs, A/B test, compare and then send your message to a broader audience. Another potential testing idea is to compare the results between a paid directory and more traditional lead generation tools. After three to six months you'll have a clear picture of which works best for your company.
Finally, after you've run your campaign don't forget to follow up. Your first round of emails will usually have the lowest response rates, but research from Yesware found that you have a 21% chance of getting a reply to your second email, and if they still don't reply to that one, a 25% chance you will eventually get a response after subsequent emails. Try providing answers to any questions they may have, testimonials from other clients, or ask them their opinion on your product or service; anything that keeps the line of communication open is a positive.
Take a look at the graphic below from the B2B Lead Generation Trends report for the factors deemed most useful when it comes to customer follow ups.
Lead generation can be a stressful and frustrating business, which is why it's important to have the right tools to make it as efficient as possible. You might not have considered using a paid directory before, but doing so can give your marketing efforts a serious boost, no matter how big or small your business is, or what industry you're in.
To learn more about Global Database visit us at www.GlobalDatabase.com and book your free demo here.
How to Create a Lead Generation Strategy Using a Business Directory
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