Leads are the life breath of an organisation; as without a promising sales funnel it quickly becomes impossible to meet longer term operational and growth plans. When we begin planning lead generation strategies with our clients it is often that conversations begin with “I need X amount of leads” - and often they need them immediately! Yet, when the topic of budget arises these conversations can hit a stumbling block.
Developing and delivering a B2B lead generation campaign is a key goal for most sales and marketing teams, but delivering the desired results can be time consuming and costly – and not always effective. Designing a campaign that delivers results while remaining on budget is a pressing concern for all of those involved. Achieving lead targets while maximising budget spend and driving ROI requires a number of considerations:
Spending budget vs designing a campaign
The phrase “I don’t have enough budget for lead generation” is one that has been uttered many a time but it is one that is largely inaccurate. It is perhaps more accurate to say that the speaker of such a phrase doesn’t have the budget for a b2b lead generation campaign they think they need. Large unstructured campaigns with unrealistic targets are the biggest drain on resource. All too often a campaign is designed around a target figure that is unsupported by historical data or results, instead, is based around simply a ‘desirable’ goal. In order to make efforts to achieve this goal a campaign will often quickly grow out of hand as increasing numbers of lead generation approaches, tactics and strategies are included.
Working with realistic goals and lead targets will enable the design and deployment of a marketing strategy that has the potential to maximise results while remaining within budget. By considering each approach to lead generation individually, an integrated direct and digital strategy can be implemented that more accurately targets your audience; with each facet of your campaign working together to deliver a cohesive message and result.
Defining your requirements to increase ROI
For some, a better place to start is not with budget but rather but your requirements of a lead. Understanding exactly who your buyer personas are and how you can best engage with them is a vital stage in designing a b2b lead generation campaign. With this information to hand you will be best placed to develop accurate lead qualification criteria; ensuring the leads you are generating are of the highest quality and relevance.
Initially, this may result in a reduction of the volume of leads being produced by your marketing efforts but in this situation is it very much a case of quality over quantity. By expending additional effort creating a campaign that identifies and targets this specific subset of highly qualified and, perhaps more importantly, interested leads your close rate will increase; increasing ROI.
Additionally, there are those that believe budget restraints will impact the potential levels of ROI that can be generated through a direct and digital lead generation campaign. But by with a comprehensive understanding of your requirements, qualification criteria and buyer personas you can create a specifically tailored lead generation campaign that will target the prospects that will provide the greatest return of investment - all within your allocated budget.
With a strategically designed direct and digital lead generation campaign a piece of valuable content can be distributed through the most appropriate channels so as to effectively garner the attention of your prospective audience. By creating content that is both relevant and of interest to your prospects while also using a highly trained inside sales team, the position of industry thought leader can be achieved; removing the perceived limitations of organisational size or budget and maximising the potential ROI of a lead generation campaign.
Spending a little today to capitalise on budgets of old
Not all prospects undergo the same journey from visitor to prospect to lead to customer – some require a little more attention than others. But once a campaign has concluded and the spend for the next is being deliberated these transitional leads shouldn’t be left in limbo. Overlooking these leads just because they aren’t quite ready to engage further would be a waste of previously spent budget. Incorporating a process of continual nurturing or re-engagement of old leads into your direct and digital campaign ensures that these prospects receive an appropriate level attention; maintaing their interest and engagement until they are ready to close. By paying attention to leads generated on previous campaigns the ROI on your b2b lead generation budgets can be maximised - both old and new.
Integral to the continued growth of an organisation’s sales pipeline; the continued generation of leads is essential. Requiring great levels of effort, dedication and resource it doesn’t take long for budgeting figures to come to come under pressure. However, with certain considerations a campaign can be deigned to encompass the features of a direct and digital marketing strategy that most effectively targets your prospects. This enables the delivery of the target number of highly qualified leads while also maximising ROI. An effective campaign is one that delivers results while working with the budget available.
Design an effective direct and digital marketing campaign that meets your lead generation targets that also remains on budget