The High Cost Of Low-Quality Leads: A Risk Assessment For Marketing.
Accurate data is the most valuable resource of all, and it is the basis of lead generation. A successful campaign has one commonality: The data is correct and up to date.
Lead generation requires understanding the campaign and the ideal customer. However, the lead gen cycle has become complex in response to the competitive market. Sales take time to see success, and many leads are not qualifiable. HubSpot’s Sales 2024 report says as much— sales teams are disheartened with the quality of leads.
Attracting and qualifying the relevant leads seems to be the problem for marketing teams.
Marketing teams have to do more with less. The current trend of B2B lead generation has fallen into a vicious loop. Businesses delegate to capture high-quality data to come up with a solution.
This data is based on the specifications and requirements of a particular campaign. How do businesses ensure their message is consistently delivered to relevant leads? By working with the right partners who understand their needs, and the granular approach to lead generation.
This granular approach is based on understanding the nuances of the B2B buying committee and their risk aversion behavior. According to Gartner, a B2B buying process involves six to ten members from different fields and their unique agendas.
Lead generation is dynamic. It is no longer based on a single decision-maker. The buying affects the whole organization, and stakeholders are equally liable for the decision, increasing the risk factor.
Generating low-quality leads impacts communication, and there is a waste of time and energy. This directly affects the ROI. Lead generation should begin by identifying and nurturing each account with specialized content to determine the correct fit. And Ciente excels at changing lead generation from numbers to a strategic game.
Lead Generation is changing, and the market standard has pivoted to become benefit-driven.
What is lead generation?
Lead generation is identifying, attracting, and engaging with individuals or accounts that are the target of a marketing campaign.
Each campaign and the necessary leads are different from industry to industry. These are the specifications of the lead generation campaign.
The goal is to nurture these leads into qualified opportunities for sales.
How is lead generation changing?
Sharon Drew Morgan writes an exceptional piece on how buyers do not buy when there is a need; they buy when they need to mitigate risk. The buying decision is based on how well the software/product can be integrated into the system without disturbing the status quo too much.
Lead generation has changed because lead-to-sales-funnel behavior has changed. It is now risk-averse,
The pandemic, especially post-pandemic was a wake-up call for decision-makers. They need solutions to mitigate their risks, and lead generation should not be to identify the needy but to identify and attract the accounts looking to lessen their risk through solutions available in the market.
Time and again, marketing teams have realized that the market does not know what it wants. Demand Generation exists to raise a hidden problem in question and then bring an answer to it.
Similarly, lead generation must start with the campaign message firmly in place. And that can happen only when marketers understand the problem and the risk by market research and analyzing the existing solutions.
In this case, the availability of high-quality leads is a risk factor. The risk is a waste of time by the sales teams and negative brand perceptions.
Finding relevant leads from the noise requires the harmony of many strategies coming together.
How to discover relevant leads from the noise?
Lead generation must start with attraction. 39% of marketers believe they could improve their marketing with access to better data.
Data Enrichment
Data is elusive. Much of it can get lost or dry because it is not updated. At Ciente, we ensure that data is always fresh and retains its high-quality attribution through our data enrichment services.
Data Enrichment is essential to have a complete view of the leads. By having a complete view: –
- Marketers understand accurate lead behavior, paving the way for more successful campaigns.
- And the intent signals high-quality leads exhibit?
Data is a game changer and helps mitigate the risks associated with lead gen by connecting relevant parties and paves the way for understanding lead-brand behavior.
Understanding lead behavior
The behavior of a lead is crucial in understanding their intent. Intent data, fueled by data enrichment, gives a multi-dimensional picture of the lead. Helping marketing teams cater to their (the leads’) needs and grasp what they are looking for.
- What is the ideal behavior of a high-quality lead?
- Where are they viewing their content?
- Are they looking for a solution or window shopping for now?
Identifying the behavior of the lead will provide crucial insights into these metrics.
Which will help marketing teams craft the message.
Crafting the right message
Content marketing at all stages of the funnel has become vital. It is a crucial lead nurturing tool. But a message must resonate with the right audience. It should speak to them by understanding the state their industry is in, addressing their problem, and providing a unique solution.
Simon Sinek calls it the Golden Circle Model; it is how leaders are shaped.
By giving the
- Why
- How
- And What
In that order.
This framework helps marketing teams understand their unique proposition and message. As Simon Sinek says, people buy why you do it, not what you do.
Content Syndication
Ciente believes that content syndication is a vital aspect of lead generation. Every organization must invest in this strategy. It helps deliver quality backlinks and boost thought leadership by sharing content to be seen by relevant eyes.
Content Syndication shows the content to as many relevant eyes as possible. When prospects understand that a solution to their unique problem exists and does not disturb the status-quo too m, they will engage with a brand and research more.
Landing Pages
A compelling lead generation strategy requires a landing page. Landing pages are crucial to building email lists and a subscriber base.
With a sleek and focused page, marketing teams can enhance their message, provide value as lead magnets, and get value in return. (The leads’ contact information). This information implies contact consent.
The bullseye for lead gen efforts.
Email Marketing
Email marketing is the king of lead generation and for a reason. It is the most used channel, with a towering ROI of 42:1.
At Ciente, our email marketing team is a robust and efficient success that provides the right content to the relevant accounts at the right time. Email marketing generates leads and nurtures them through a systematic process.
Lead Nurturing
Lead Nurturing is an ongoing process that ensures brand reputation and quality of leads. Nurturing leads is a great filter. It helps qualify relevant leads and disqualify leads who do not show much interest.
It also builds a relationship of trust between organizations. Accounts buy to mitigate risk will buy for trust.
Example: Between Windows or Linux, what will an organization choose for their systems? They will choose the one they trust the most and have consistently shown it can work for their environment.
It is not a matter of choice but of trust between the involved parties.
Demand Generation
The market is continually evolving. Products are rising and failing. How can lead generation ensure success before it starts? In a competitive landscape, it is by finding a unique proposition and creating a demand for it.
Demand generation ensures penetration in the market and the creation of one where it did not exist. This happens by making the relevant market-fits aware of the risk their industry is facing and solving that risk.
The risk of low-quality leads is unacceptable. That is why a new model must emerge for long-term success.
The risk of low-quality leads
Businesses lose $20,000 for low-quality leads the sales team receives.
That is an unacceptable loss for marketers. Marketing teams and CMOs are already on a tight budget and asked to do more with less.
High-quality leads are an increasing rarity. And they must be captured by addressing the risks and identifying the market fits that are looking to mitigate them.
Capture the Category Entry Points of the ideal lead.
The B2B LinkedIn Institute is a subject for deep study. They paired up with the Ehrenberg-Bass Institute for their groundbreaking studies.
One such study is the CEP or the category entry points. These points are memories inside the lead. They say before searching on a search engine, consumers search their brains for answers. Almost every time, leads will go for a safe and dependable partner.
LinkedIn Institute says to market to the 95% out-market prospects and the 5% in-market.
The strategy ensures a steady flow of long-term solutions through awareness and trust building.
Mitigation of risk is where Ciente shines. We create a compelling and cohesive message for your brand.
Our lead generation process combines the dependability of old-school practices with a new granular approach.
The risk factors in the industry are concerning, but understanding why they exist and creating plans to tackle them is the new role of lead generation.
We understand the risks of the market and aim to subdue them with strategic processes, cohesive data flow and compelling messages. This includes keeping our data fresh and up-to-date and generating relevant leads that lead to more sales success.