Avoiding Funnel Failure: 3 Tips for Lead Generation & Conversion

Posted on by Wayne Silverman

lead generationLead generation is an expensive task for any B2B marketer, but it’s not cost alone that keeps them up at night. Understanding the nuances of each lead and how to replicate some level of success is as much art as it is science. Once you pay for leads, do they convert? And if they do, how do they stack up against your other sources? Perhaps most importantly, how can those leads successfully transition out of marketing to sales?

The pressure to both create and convert isn’t slowing down. According to a 2018 HubSpot survey, 75% of companies say closing more deals is their top sales priority. But, Econsultancy found that just 22 percent of businesses are satisfied with their conversion rates.

For many B2B organizations, balancing the demand for conversion and the importance of building meaningful customer relationships—and long-tail deal opportunities—is an ongoing battle. The insistence to prioritize today’s growth is at odds with the long-term growth of the business. In short, thinking about leads only for today starves the business for tomorrow.


To hear more B2B marketing tips from Wayne Silverman, join us at
LeadsCon’s Connect to Convert 2019 in Boston, Sept. 25-27


The good news is that B2B organizations can implement a lead generation mindset and framework that capitalizes on the opportunity to secure leads throughout each stage of the funnel. Here are three practical tips for how marketers can drive leads, conversion rates, and bottom-line growth.

1.) Fundamentals still matter.
Your website is more than just your online billboard; it is your opportunity to educate prospects on what you can offer and provoke enough interest to convert. Invest in this medium and optimize it for success by thinking like your end user—remember it’s not about you, it’s about them.


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2.) Be patient.
Yes, marketers (and the C-Suite they answer to) don’t have time to waste. But, profitable leads take time to nurture and convert. The journey is never linear for prospects, so instead marketers should focus on what they can control—content and response times. By delivering relevant content and connecting with prospects as quickly as possible, leads have a better chance to convert.

3.) Make the case for more dollars.
The adage “you have to spend money to make money” comes to mind. For marketers to be successful at building leads throughout every stage of the funnel, they need the tools and the resources to execute. Making a solid business case for the investment required is job number one, but bear in mind the executive team also needs to give control over to marketing to make that happen. Competitive comparisons are also helpful to spur action and open up budget dollars.

Generating leads throughout the entire sales funnel is important to business growth. It all starts with a mindset intent on the long view. Taking the time today to set up your lead generation function for future success will yield the results everyone is after—profitable customer relationships and a steady stream of new leads.

Wayne Silverman is CRO of Business.com.

 

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