I’m not sure who needs to hear this, but B2B lead generation is still important. And generating marketing qualified leads (MQLs) is imperative, especially in our current economic climate affecting businesses all over the world. Simply put, having a high number of leads doesn't mean much if they're not likely to convert into customers.
A recent study by Forrester Research found that B2B organizations that prioritize MQLs over quantity leads have a higher average lead-to-customer conversion rate. In fact, businesses that focus on MQLs have a conversion rate that's 17% higher compared to businesses that focus on quantity leads.
What is a marketing qualified lead (MQL)?
A marketing qualified lead (MQL) is a potential customer who has demonstrated a certain level of engagement with your B2B marketing campaigns. The engagement of an MQL is then measured based on certain criteria like behavior on your website, content engagement with, and their overall interaction with your B2B marketing campaigns.
Why are MQLs more likely to convert into customers?
It all comes down to intent. Sine MQLs are leads that have shown more interest and engagement with your brand, they have ‘self-qualified’ themselves as being interested in what you have to offer, making them a higher quality lead. When you focus on MQLs, you're able to tailor your messaging, offerings, and B2B marketing strategies to the specific pain points, goals, and challenges of these leads. This personalized approach results in higher engagement and a better likelihood of converting them into customers.
On the other hand, if you're just focusing on the quantity of leads, you're likely casting a wide net and not taking into account the specific needs and interests of each lead. This can result in a lower conversion rate and a lack of engagement from these leads. This approach results in wasted marketing budgets and a sales teams prioritizing the wrong accounts.
How to generate marketing qualified leads
Know your B2B target audience
The first step in generating leads is to know your target audience. Who are they? What are their pain points? What are their goals? What challenges do they face? Once you understand your target audience, you'll be able to create content and messaging that speaks directly to them. This will increase the likelihood of them engaging with your brand, and eventually, converting into customers.
Utilize B2B digital marketing channels
In today's digital world, there are numerous ways to reach your target audience. From social media to email marketing to PPC advertising, the options are endless. It's important to utilize and map the right channels to reach your target audience where they're most active. And don't forget about search engine optimization (SEO) – it's a crucial component of any lead generation strategy. By optimizing your website for search engines, you'll increase the likelihood of appearing in front of your target audience when they search for keywords related to your products or services.
Create valuable content
Leads want to know that you have something of value to offer. That's why it's important to create content that speaks to their pain points, goals, and challenges. From e-books to blog posts to webinars, there are countless types of content you can create. Make sure your content is high-quality and provides value to your target audience.
Make it easy to convert
Once you've captured the interest of a lead, make it easy for them to convert. Provide clear calls-to-action (CTAs) on your website, and make sure your conversion paths are straightforward and easy to follow. The more friction you create in the conversion process, the less likely a lead is to convert.
Lead nurturing is key to generating B2B marketing qualified sales leads. By staying top of mind with your leads and providing them with valuable content and information, you'll increase the likelihood of them converting into customers