How To Overcome Common B2B Lead Generation Challenges

So, you're having trouble generating leads? Don't worry: you're not alone. As many as 65% of businesses put lead generation in the number one spot when it comes to ranking their biggest challenges. In fact, most businesses, large and small - not to mention their marketing and sales teams, whose job it is to get sales qualified leads and make more sales - worry about effective B2B lead generation.

And that's because B2B lead generation is the lifeblood of the sales pipeline; without a reliable stream of high quality leads, all your other stellar business efforts may as well have been for nothing. Sales teams need people to sell to.

That's why, today, we're sitting down to outline some of the most common challenges your B2B lead generation campaigns might face and giving you expert advice on how to overcome them. With our know-how, you'll be able to up your lead generation game and start making more sales to quality leads in no time.

What is B2B lead generation?

For those of you who are new to this, let's get a few things clear: B2B lead generation is not simply about spamming your entire target audience and hoping someone bites. It's about employing a variety of lead generation and sales tools, from marketing campaigns and search engine optimization to advanced sales technology and a slick lead generation process, to ensure your business achieves a steady inflow of the right leads (that means high-intent potential customers who fit your ICP and are looking to buy).

Sales and marketing teams, as well as professional B2B lead generation services, will leverage their expertise across a range of fields to make this happen. Email marketing and cold calling are part of that, sure, but they're not everything; great lead generation strategies will include multi-channel engagement, enterprise-grade sales and CRM technology, advanced lead sourcing and verification, and much more, too.

Why is lead generation so crucial to sales success?

There's a reason 85% of B2B marketing teams say lead generation is their top measure of success. They know that it doesn't matter how good your business strategy is or how smooth your sales process is, without qualified leads, sales teams have no one to sell to.

Successful B2B lead generation doesn't just ensure high quality leads, it also:

• Increases brand awareness
• Builds trust
• Establishes credibility/authority
• Generates inbound interest

These factors allow your business to generate more revenue and even expand. That's why B2B lead generation is a top priority for many businesses. Don't believe us? An overwhelming 78% of marketers are either maintaining or increasing their lead generation budgets in 2024.

Challenge one: lead quality and finding sales qualified leads

Lead generation isn't just a numbers game: 10 high quality leads are better than 100 bad ones. But what exactly are 'high quality leads'?

Good sales leads, sometimes called 'qualified leads', are potential customers with a high likelihood of actually making a purchase. The problem, of course, with most lead generation campaigns is that a typical, low-effort lead generation process involves sending thousands of (often AI-generated) marketing emails at the click of a button - usually to prospects who broadly fit the 'target audience' but who really have no need for the product or service. This is why average clickthrough rates are less than 3%.

For sales and marketing teams, what this essentially amounts to is thousands of wasted dollars and irretrievable lost time. So being able to generate leads of a high quality - or high 'intent' - is crucial for effective B2B lead generation strategies.

The solution

The bad news is that improving your lead generation efforts to hook high quality leads takes time. The good news is that the time spent on improving your lead generation campaigns eventually pays off in revenue.

Professional B2B lead generation services will use a variety of methods to increase lead quality. Usually, this begins with better market research; analyzing existing customers, segmenting the target audience, and building a well-defined ICP (Ideal Customer Profile) are all key. Also important is data sourcing. Overpriced, outdated databases are a waste of time and money, and B2B lead experts know this. Research teams of trained professionals analyzing data is the way to go.

Armed with this highly targeted lead qualification criteria, sales and marketing teams can more accurately target potential customers and fill your sales funnel with more qualified leads.

Challenge two: high competition

The simple truth is that there are more options for paying customers than ever before. And the market's always growing. With other businesses expanding their inbound and outbound B2B lead generation campaigns and more and more sales tools becoming available, competition is sure to be a top concern for your sales team.

The solution

Again, numbers aren't the answer here. Businesses need to get smart about the way they conduct lead generation.

One way B2B lead generation services like Leadium improve client strategy and make their messaging stand out is by creating a comprehensive multi-channel engagement program. In essence, this means that it's not all about email marketing and cold calling anymore; social media marketing, content marketing, paid ads, and even corporate gifting are all crucial to lead generation success in 2024.

Improving landing pages, for instance, is a key step towards gaining inbound traction. Likewise, a high quality content marketing campaign providing ICPs with relevant content across appropriate marketing channels can be a great way to stand out with excellent brand authority.

Another top tip: please, please, please do away with AI messaging. If you want to stand out to target customers and set your brand apart, 100% personalized messaging is the way to go. And if you don't have the resources to craft personalized messages, outsourcing it remains an option.

Challenge three: data management

Lead generation efforts result in a huge volume of data. Contact details are one thing, but when you factor in everything that needs to be recorded to effectively generate leads and guide them through the sales funnel, the data can become overwhelming.

Sales and marketing teams need to deal with:

• Data quality
  Ensuring data is accurate and up-to-date‍
• Data integration.
  Effectively combining data from different sources into one system‍
• Data security
  Keeping both your business and customer data safe‍
• Data analytics
  Deciding how to interpret data for better insights

Poor handling of any of these factors can damage your lead generation strategy and leave you missing out on potential leads.

The solution

Luckily, expert lead generation strategies have cutting-edge methods for dealing with data management problems. And much of them rely on advanced sales and CRM technology.

Although investing in new software can be expensive, don't forget that professional B2B lead generation services already have such software in the arsenal and are ready to use it form day one. With state-of-the-art lead verification technology, CRM software allowing for integrated sales and marketing campaigns, and a range of other high-level lead generation tools, companies like Leadium are perfectly placed to help your sales team manage data more efficiently and ultimately to bring you more leads.

B2B lead generation your sales team can rely on

The fact of the matter is that no sales process is complete without fruitful lead generation. But that's easier said than done; 50% of B2B lead generation marketers failed to reach their goals in 2023. What those marketers and sales reps are missing is a comprehensive lead generation strategy that overcomes common B2B lead generation problems.

Lead quality is fundamental. Forget bulk emails and stale databases; you need expert teams of researchers identifying and verifying high-intent leads who're likely to buy, and you need to engage with them with personalized multi-channel optimization. Finally, cutting-edge sales technology will allow your sales team to manage data and organize new leads far more efficiently.

Building an internal team to tackle all of these obstacles can mean a lot of time and money. Did you know that outsourcing to a B2B SDR can be 75% cheaper than training one? Companies like Leadium have helped hundreds of companies craft bespoke lead generation strategies that give them more leads, a faster sales cycle, and sustained sales growth. So to see how Leadium can give you a boost, why not reach out for a consultation? Better B2B lead generation is waiting.

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