The internet is filled with thousands of new content popping up each second. One of the most popular types of articles that crowd over our social media timelines are the ones that present you with a list of reasons why you should do this or why you should use a certain product. There are lists of different topics for every single business that you could think of. Yes, even for B2B lead generation.
You have probably already heard countless spiels about why you should be investing in lead generation, but today we are going to give you the common absurd excuses most businesses use on why they won’t invest in lead generation.
#1 Lead Generation is a Time-Intensive Task
Time consuming is the perfect term to describe this task and fairly so as preparation requires time. It takes a lot out of your energy, putting time contacting and evaluating your pool of prospects, following up on existing ones, and making sure that by the end of the day you have been able to turn the majority of them into sales-ready leads. Some people might even deem this task as a time waster and making too much fuss for what it’s worth.
However, investing in lead generation, even though it’s time-consuming, is your gateway to aligning how B2B clients start their road to buying nowadays. In addition, lead generation allows you to steer your attention into scaling your customer acquisition program. Other benefits of lead generation include shortening the sales cycle and improving your win rates. Moreover, lead generation helps you truly create a stepping stone to building stronger, more meaningful relationships with your clients based on trust and therefore it increases the return on your marketing investment.
It’s time to stop chasing the wrong prospects and running yourselves in circles and start investing in the right process of lead generation. Spare yourself from wasting time (and money) that could be spent more productively for your company.
#2 Lead Generation is Expensive
Imagine your average deal size is 10K, and your sales team’s average closing ratio is 30%. Now, let’s say you invest 20K per quarter on lead generation which is 80K in a year. This is a lot you might think and it would probably require a lot of leads to get your ROI. Truth be told, it’s not.
If you manage to generate 15 leads on the first quarter, and as you scale your lead generation process, you raise this number to 20 in the second quarter and then peak at 25 in the remaining Q3 and Q4, you’d have a total of 85 high-quality leads in a year. Not a lot on paper but if you convert 30%(remember, your close ratio) of the 85 leads you’ve accumulated, which is 26, you will end up with a Gross ROI of 260K and a Net ROI of 180K.
As you can see, even though you had to shell out a fair amount of money on lead generation, what you will receive in return is double or triple of what you initially paid for.
The bottom line here is that quality leads don’t come cheap. Granted, leads are leads, but are they qualified leads that you can convert into customers in the end?
Don’t hesitate in investing in a good lead generation strategy that guarantees you revenue and helps your company grow.
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#3 You’re A-okay!
Many mid to enterprise businesses share this same sentiment. Leads, either from referrals or word-of-mouth, come in easy-peasy, you don’t even need to stress about it. However, when your company reaches its peak, you can’t just be content with being stagnant. The next logical step is to tap into an alternative market (i.e.: mid-market), and that’s exactly when the need for lead generation comes in.
In most cases, businesses lack the talent, expertise, and resources to run and follow an effective lead generation plan. They’d end up sticking with the marketing status quo – which is sufficient in the short term but is definitely unwise in the long run.
#4 You’re Too Small a Company and Don’t Have Enough Resources
You’re a small business, yes. You have very limited resources, yes. Granted, taking all this into consideration, lavishing on fancy marketing campaigns or purchasing the latest tools for marketing isn’t always in the cards. However, investing in lead generation is crucial to the survival of your business. Yes, it may cost more than you’re most likely willing to shell out now, but you’re also going to greatly benefit from it in the long run. Don’t deny it. You know it’s true.
#5 You Already Have A Working Website
That’s great! That already shows that you’re serious with your business and ahead of the game than most other companies who don’t put enough weight into their own. The question is, is your website optimized for lead generation?
It’s not groundbreaking news anymore that people spend most – if not all of their time on the internet, lurking and stalking on social media. With thousands and possibly even millions of people visiting your website, you want to make sure that your website is optimized for lead generation. Make sure that it supports the integration of all the lead generating channels you use to be able to create seamless marketing campaigns to reel in quality and sales-ready leads.