3 Simple Reasons Your Lead Generation and Revenue Stream are Dying and 4 Action Steps to Fix It
One of the biggest challenges B2B organizations face is ensuring they hit their revenue goals. While the problem can sometimes be attributed to weak sales processes, the culprit is usually a lack of quality leads. The sales team may not be hitting their quotes due to the low volume of leads needed or low quality of leads. If this is a problem you’re facing, it’s time to reevaluate your lead generation campaign.
3 Common Reasons Why Lead Generation Campaigns Fail
There are three common reasons why lead generations campaigns don’t perform to a company’s expectations.
Reason #1: There Are Not Enough Leads Coming In
If you’re facing this problem, then it’s time to really take a close look at your marketing. The marketing team is likely depending on a few campaigns and not focusing enough on new campaign growth or expanding into other channels. If you’re a small company and have a small marketing team, you get more value out of your efforts by managing everything on an integrated marketing platform.
Reason #2: The Quality of the Leads are Poor
The next common problem is a decent number of are leads coming in but they’re not converting into sales. In this case, the sales and marketing team will need to come together to figure out what types of leads turn into clients and what types of leads to avoid. This process reduces marketing costs, expands campaigns efficiently, and maximizes the effectiveness of your sales team.
Reason #3: Leads Aren’t Being Properly Nurtured
Leads need to be nurtured before they’re sent to the sales department. This involves a process of providing value, educating the prospect and engaging with relevant content at the right moments. If there isn’t an existing campaign for lead nurturing, you need to build one as soon as possible and align the lead nurturing campaign with the sales team to increase sales.
How to Revamp Your Lead Generation Campaign
Here are some simple steps to revamp your lead generation campaign.
First, get the sales and marketing team to work together. The sales team needs to communicate what leads are working for them so the marketing team can adjust campaigns to target the right people. The marketing team also needs to inform the sales team about the source of the leads. This gives insight to the sales team about how to approach the leads to increase the chances of securing a sale.
Second, develop a lead scoring system. Experiment with different approaches (case studies, white papers, video content, webinars, consulting sessions, etc.) to see which approach leads respond well to. Then figure out the follow-up sequences and marketing strategies to execute based on the data. From there note which actions taken by the prospects (scoring) indicate a lead may be ready to buy.
Third, use an integrated online marketing platform. Setting up follow sequences, scoring leads, testing different campaigns, and knowing when to set up a sales appointment is almost impossible without the right platform. A good platform will automate much of the process, give you valuable data insight, and connect your entire team.
Finally, consider hiring a marketing agency. Hiring an agency is much more affordable than hiring, training and managing your own team. A good marketing agency will save you a lot of time. You don’t have to deal with the headaches of trying to figure out what works. You can focus on your business and start growing your B2B organization with a proven marketing system.