How to Design a B2B Lead Generation Process in 12 Quick Steps?

If you are one of those B2B marketers who feel generating leads is hard to go by, then, unfortunately, you're not alone. 

Unfortunately, you're not alone. A recent study found that only 22% of businesses are satisfied with their conversion rates. 

And the stakes go even higher!

Research reports that 79% of marketing leads never convert into sales.

The truth is, designing an effective B2B lead generation process is a challenging task. But it's essential for the success of your business. 

With a well-crafted framework, you can save time and resources on effective tactics to bring in quality leads. 

Plus, a well-designed process can help you:

• Identify and attract the right prospects
• Nurture them into leads
• Ultimately convert them into loyal customers

But where do you start?

That's why we've put together this guide to help you design a B2B lead generation process that works. 

We've got you covered – from identifying your target audience to optimizing your lead-nurturing strategy. Here are 12 quick steps to take your lead generation to the next level!

B2B Lead Generation Process in 12 Easy Steps

Let’s go through some quick yet effective steps to help you design that ultimate B2B lead generation process! 

1. Set Your Lead-gen Goals

The first step in designing a successful process is to set clear lead gen goals. Then, it's possible to measure your progress and identify areas for improvement. 

Here's what you need to know to set practical lead-gen goals:

1. Define Your Objectives

Start by determining what you want to achieve with your lead-generation efforts:

• Do you want to increase your overall lead volume?
• Are you more concerned with generating high-quality, sales-ready leads? 
• Do you want to focus on nurturing leads already interested in your company?

Whatever your objectives, ensure they align with your broader business goals.

2. Choose the Right Metrics

Next, choose the metrics that will help you measure your progress. Depending on your goals, you might focus on metrics like:

• Marketing Qualified Leads (MQLs): These leads have shown a level of interest in your company but may still need to be ready to buy.
• Sales Qualified Leads (SQLs): Your sales team has vetted these leads. As a result, your Sales Development Representatives (SDRs) have deemed them ready to move forward in the sales process.
• Conversion Rates: Sales leads conversion rate measures the percentage of leads that convert into paying customers.
• Cost Per Lead (CPL): This metric helps you track how much you're spending on each lead generated.
• Time to Conversion: It tracks how long it takes for a lead to become a customer.

3. Set Specific, Measurable Goals

Now it's time to set specific, measurable goals. 

For example, you might aim to generate 100 MQLs monthly or reduce your lead cost by 20%. Make sure your goals are realistic and attainable. They should also be challenging enough to motivate you and your team.

4. Track Your Progress

Finally, it's crucial to track your progress against your goals continuously. It will help you identify what's working and what's not. As such, you can make adjustments as needed. 

Use tools like Google Analytics or marketing automation software (HubSpot or · ActiveCampaign) – to monitor your metrics and analyze your data.

5. Illustration

Let's say you're a B2B software company that wants to increase sales by generating more high-quality leads. Now, your lead-gen goals might look something like this:

• Generate 200 MQLs per month
• Increase SQL conversion rates by 25%
• Reduce cost per lead by 15%
• Achieve an average time to conversion of 30 days or less

Tracking your progress against these goals will help refine your lead generation strategy and drive more revenue for your business.

2. Identify Your TAM

Identifying your Total Addressable Market (TAM) helps you understand your ideal customers. As such, you will know where to focus your lead generation efforts. 

Here's what you need to do:

1. Define your Ideal Customer Profile (ICP)

Define your ideal customer based on factors like:

• Industry
• Company size
• Job title
• Buying behavior

It will enable you to create targeted marketing campaigns that speak directly to your target audience.

2. Conduct Market Research and Competitive Analysis

Use the above two tools to estimate the size of your TAM. 

• First, it will help you determine your target market's total number of potential customers.
• In addition, you can gauge how much market share you can realistically capture.

3. Identify Where Your Offerings Add Maximum Value

Determine which industries, verticals, and geographies align best with your product or service. It will allow you to focus your marketing efforts and generate more high-quality leads.

As per reports, businesses with tightly aligned sales and marketing functions achieve:

• 24% faster three-year revenue growth
• 27% more rapid three-year profit growth

You can improve the alignment between your sales and marketing teams by identifying your TAM and focusing your marketing efforts on your ideal customers. As such, you can drive more leads and revenue for your business.

3. Build Account Lists That Fit Your ICP and TAM

Create a list of target accounts that meet your Ideal Customer Profile (ICP) and are part of your TAM. Here's how you can do it:

1. Develop a Lead Scoring Framework

A lead scoring framework helps you prioritize your leads based on how inclined they are to become customers. It involves assigning a score to each lead based on factors like:

• Company size
• Job title
• Buying behavior

You can identify the most promising prospects by assigning scores to each lead. Hence, you can allocate your sales team's efforts accordingly. It means no more wasting resources on dead-end leads.

You can follow the below-mentioned lead-scoring best practices to skyrocket your sales: 

According to Marketing Sherpa, businesses that use a lead scoring system have a 77% increase in lead generation ROI compared to those that don't. 

By prioritizing your leads and focusing on those most likely to convert, you can:

• Drive more revenue for your business
• Improve your lead generation ROI

2. Define the Criteria MQLs and SQLs

By defining the criteria for MQLs and SQLs, you can ensure your sales team focuses only on the most promising leads. Here are some standard elements for MQLs and SQLs

4. Segment Your Lists As Per Intent

In the fourth step, categorize your accounts based on their level of interest and engagement with your product or service. As such, you can tailor your messaging and outreach to each group. Hence, you increase the chances of converting them into customers. 

Here are some ways to segment your account lists:

• Engagement Level: Group accounts based on their level of engagement with your brand. It can be based on website visits, email opens, and other forms of engagement.
• Stage in the Sales Funnel: Categorize accounts based on where they are in the lead generation funnel - Top of the Funnel (TOFU), Middle of the Funnel (MOFU) and Bottom of the Funnel (BOFU). It can include prospects, leads, MQLs, and SQLs.
• Industry or Vertical: Segment accounts based on the industry or vertical they belong to. It can help you create targeted messaging for their needs and pain points.
• Geography: If your product or service is location-specific, you can segment your accounts based on their geography.

Here's an example of how you could segment your account lists:

5. Develop Targeted Content

Content is crucial to any B2B lead generation process. In fact, content marketing costs 62% less than traditional marketing and generates about three times as many leads.

Developing custom and relevant resources can help you:

• Attract and engage potential customers
• Position your brand as a thought leader in your industry
• Drive conversions

Here are some points to consider when developing targeted content:

1. Create Lead Magnets

Develop various types of content that can attract your target audience. These could include:

• Blog posts
• Videos
• Infographics
• Interview reports
• Ebooks
• Case studies
• Whitepapers
• Webinars
• Podcasts and more

Make sure your content is valuable, informative, and engaging enough to capture your audience's attention.

2. Create Content for Each Stage of the Funnel

Develop content that speaks to potential customers' specific needs and interests at each stage of the buyer's journey. It could include:

• Top-of-funnel (TOFU) content that focuses on awareness and education
• Middle-of-funnel (MOFU) content that addresses specific pain points
• Bottom-of-funnel (BOFU) content that provides solutions and drives conversions

3. Personalize Your Content

Use data and insights about your target audience to create more personalized content that speaks directly to their requirements. It can involve tailoring your content to specific industries, job roles, geographies, etc.

4. Use a Mix of Formats

Develop a mix of different types of content formats, such as:

• Written
• Visual
• Audio
• Images
• Video
• Interactive 

– to cater to different learning styles and preferences.

5. Leverage SEO Best Practices

Pages that rank first on Google search results on desktop have a 34.36% click-through rate. And the same holds true for mobiles as well. 

Hence, it’s critical to work on SEO if you want conversions. As such, optimize your content for search engines – to increase visibility and attract organic traffic to your website.

6. Analyze and Refine

Use data and analytics to track the performance of your content and refine your strategy over time. A/B testing, user feedback, and other metrics can help you identify what's working and what's not. You can use these insights to make adjustments and improve results.

6. Generate Demand

78% of marketers say their demand-gen budget will grow or remain the same in the following years. Hence, focusing on your demand generation efforts is vital – to designing a comprehensive B2B lead generation process.

1. Create Demand-Gen Campaigns

• Identify the channels and tactics that will be most effective in reaching your target audience and generating interest in your product/service.
• Develop campaigns specifically designed to generate demand and interest in your offering.
• Use compelling messaging and offers that highlight the benefits and value of your product/service.

2. Use a Mix of Channels

• Utilize various channels to reach your target audience and generate demand.

• Leverage email marketing to nurture leads and keep your product/service in mind.
• Use social media to share content, engage with your audience, and drive traffic to your website.
• Invest in paid advertising to reach a larger audience and drive more leads.

3. Develop Relevant Messaging

• Craft messaging that speaks directly to your target audience and addresses their pain points and needs.
• Highlight the unique benefits and value that your product/service offers.
• Use customer testimonials and case studies to showcase the results and outcomes that others have achieved through using your product/service.

4. Measure and Optimize

• Regularly review the performance of your demand generation campaigns to identify areas for improvement.
• Use analytics and data to inform your decision-making and optimize your campaigns for better results.
• Experiment with different messaging, offers, and channels to find what works best for your audience.

7. Create a Lead Nurturing Plan

Lead nurturing is building relationships with prospects to move them through the sales funnel and ultimately convert them into customers.

It involves providing relevant and valuable information to prospects at each stage of the buying journey to keep them engaged with your brand and increase the chances of a successful conversion.

Now, let's dive into the points for creating a lead nurturing plan:

• Send Personalized and Timely Emails: Develop a series of emails personalized to each prospect's interests and pain points. Send them out at appropriate times during the buying journey. 

You can achieve this by segmenting your email list into groups based on recipient behaviors and interests. Personalized emails have a higher open and click-through rate than generic ones. So, it's worth the effort.

• Educate Prospects About Your Product or Service: Your emails should provide educational content that helps prospects understand your product or service and its value proposition. 

It can include blog posts, eBooks, whitepapers, webinars, and other types of content. Thus, educating prospects can position you as a thought leader in your industry and build trust and credibility with them.

• Address Objections: It's common for prospects to have objections or concerns about your product or service. And you need to address these in your emails. 

Doing so can overcome any barriers to conversion and demonstrate that you understand your prospects' needs and concerns.

• Persuade Prospects to Take Action: Ultimately, lead nurturing aims to persuade prospects to take action and become customers. You can use various techniques to achieve this, such as offering discounts, free trials, demos, or consultations. 

Hence, you can increase the chances of a successful conversion by providing a low-risk way for prospects to experience your product or service.

Note: The above table is just an example and can be customized based on a business's specific needs and goals.

8. Determine the Best Channels to Reach Your Audience

Knowing your audience's preferred channels is key to ensuring your campaigns reach them. Hence, research to determine which channels your target audience is most active on. 

The platforms may be social media, email, search engines, events, or other channels. Here are some tips for arriving at the right decision:

1. Choosing the Right Channels

• Select the Apt Channels: Consider your budget, objectives, and resources when selecting the platforms for your campaigns. Determine which channels align with your goals and resources while staying within your budget.
• Develop a Messaging Framework: Once you've selected the channels you'll use, create a messaging framework that resonates with your audience and differentiates you from competitors. 

Develop messaging that directly addresses your target audience's pain points and highlights your product or service's unique value.

2. Creating Effective Campaigns

• Create Campaigns: With your messaging in place, you can create campaigns that leverage your chosen channels – to drive traffic and generate leads. 

For instance, if social media is one of your selected channels, you can use it to promote blog posts or other valuable content to drive traffic to your website.

• Use a Mix of Channels: Rather than relying on a single platform, try to use a mix of channels to reach your audience. Doing so can help ensure that your message reaches your audience where they are most active.
• Consider Funnel stages: Different channels may be more effective for each funnel stage. 

For instance, social media may be more effective for top-of-the-funnel activities like generating brand awareness. On the contrary, email may be more effective for middle- and bottom-of-the-funnel activities like lead nurturing and conversion.

• Use A/B Testing: As you create campaigns across multiple channels, use A/B testing to optimize your campaigns and maximize your return on investment. 

A/B testing allows you to compare the effectiveness of different elements of your campaigns, such as subject lines or ad copy, to see which drives better results.

• Track and Quantify: Finally, continuously monitor and measure the performance of your campaigns to understand what's working and what's not. Plus, use data to decide which channels and messaging drive the best results.

According to experts, marketers who prioritize their audience's information needs are more likely to succeed. In fact, 57% of content creators say that customizing resources as per buyer needs is a key factor in their success.

9. Get Customer Referrals

Did you know?

Your existing customers can be a great source of new leads for your business. They already know and trust your brand. As such, they will likely refer their acquaintances to your products or services. Therefore, you need to encourage them to provide referrals actively. Here’s how:

1. Ask for Referrals, Testimonials, and Reviews

You can start by asking your customers if they know anyone who might benefit from your products or services. You can also request them to leave a testimonial or review on your website or social media pages. 

Positive reviews can influence potential customers and help build trust in your brand.

2. Offer Incentives or Rewards

To encourage referrals further, you can offer incentives to customers who refer new business to you. It can be a discount, free service, or other rewards that align with your business and its values.

10. Use ABM to Target High-Value Accounts

B2B ABM marketing strategy that identifies and targets high-value accounts. It uses personalized campaigns that address customer pain points and needs.

Plus, it involves aligning marketing and sales efforts to engage and convert critical decision-makers within these accounts.

1. Identify High-Value Accounts

• Determine which accounts will most likely convert into customers based on revenue potential, company size, industry, and location.
• Create a target account list based on your findings, and prioritize them according to their potential value.

2. Develop Personalized Campaigns

• Develop personalized campaigns that address these specific needs and pain points. You can use a mix of channels, such as email, social media, and personalized landing pages.
• Use personalized messaging that speaks directly to each account's unique challenges and offers solutions to overcome them.

3. Leverage a Combination of Channels

• Use a combination of platforms to reach your target accounts where they're most active.

• Use email to send personalized messages directly to decision-makers at the target accounts.
• Use social media to share content and engage with target accounts.
• Use personalized landing pages to offer targeted solutions to each account's specific pain points and needs.

4. Continuously Measure and Optimize Your ABM Campaigns

• Use analytics tools (Hootsuite or Salesforce) to track the effectiveness of your campaigns and make data-driven decisions to optimize your strategy.
• Use A/B testing to experiment with different messaging, channels, and tactics to see what works best for each account.
• Continuously refine your ABM strategy based on your learnings to improve your ROI and conversion rates.

11. Implement Sales Enablement Tactics

You must use tried-and-tested methods and tools to empower your sales reps to close more deals. Here are some ways you can implement sales enablement tactics:

1. Equip Sales Reps With the Apt Tech

• Provide your sales team with the tools and resources to succeed, such as case studies, product demos, and sales decks.
• Ensure your sales reps have access to the latest information about your products and services, including pricing, features, and benefits.

2. Provide Proper Training

• Train your sales reps on your ICP, messaging, and objection handling to better communicate with prospects and close deals.
• Teach them how to tailor their pitch to each prospect's specific needs and pain points.

12. Measure, Analyze, and Optimize

To maximize the effectiveness of your lead generation efforts, measuring and analyzing their performance on an ongoing basis is essential. Here are some steps you can take:

1. Define KPIs

To know if your lead generation efforts are effective, define the key performance indicators (KPIs) – most important for your business goals. 

For example, if your goal is to increase sales, your KPIs might include:

• The number of qualified leads generated
• The conversion rate from lead to customer
• The average deal size

2. Use Analytics

Once you have defined your KPIs, use analytics tools to track and measure the performance of your campaigns. 

For example, you can use Google Analytics to track website traffic and behavior. Or, you can utilize marketing automation software (Zoho or LeadSuared) to track the performance of email campaigns.

3. Identify Gaps

As you collect data on your lead generation efforts, it's crucial to analyze your data and identify areas for improvement continuously. It may involve looking for patterns in your data, such as:

• Which channels drive the most traffic and leads
  Or
• Which messaging resonates with your audience

4. Optimize

Finally, start optimizing your lead generation efforts. It may involve the following:

• Changing your messaging
• Adjusting your targeting
• Experimenting with new channels or tactics

By continuously optimizing your lead generation efforts, you can improve their effectiveness over time. Hence, you can drive more leads and revenue for your business.

Wrapping It Up

Thank you for reading our latest guide on designing a B2B lead generation process. 

At Revnew, we strive to provide valuable insights and actionable tips to help businesses like yours achieve their lead-gen goals.

We publish new content every week. So, be sure to subscribe to receive alerts and stay up-to-date. In the meantime, you may also want to check out how ClaimCare generated 22 high-quality leads in just two months with Revnew's 5-step approach.

You may be interested in a demonstration to gain insights into your website visitors. Request a demo today to see how we can help you identify and engage with potential leads.