Increase Conversions with a Quality B2B Sales Lead Database
A B2B list is a collection of contacts whom you can reach out to and is an essential component of any well-rounded marketing campaign.
The biggest concern you may have for your B2B sales lead database is the quality of the leads; the more highly targeted and qualified they are, the better will be your conversions. Spending months and weeks on a lead with no return is a waste of your time and can significantly reduce your ROI.
Another concern related to the quality of your B2B sales leads is the possibility of out of date contact details. Not only may the person not be a good fit for your product or service, but an old contact can mean they may not even be working at the same company.
Read on to find out how you can increase your returns by creating a high-quality B2B sales lead database.
Discovering Your Ideal Customer
There is no point in starting to build a contact list when you have no clear idea about who would benefit or be more interested in purchasing your product or service.
Your goal should be to locate customers who have a genuine need for what you offer, but how do you determine your ideal prospects?
The first step is to gather the sales team together for a brainstorming session. You should all work together in identifying traits and characteristics that highlight high-quality leads with a higher chance at conversion.
Ask questions about your customer, and as you record the answers, you will paint a picture of what type of customer will create the perfect lead for your company. A few question ideas to start you off include:
- What are their KPIs?
- What challenges do they face in their industry daily?
- What are their roles and functions?
- How large are their organizations?
- In what industry do they operate?
Targeting the Decision Makers
Once you know the features which should be present in your ideal customer, it’s time to research a little more and identify the decision-makers and the departments they manage.
For example, you may be planning to only work with established companies that fit your criteria, as these are the ones most likely to have the resources to invest in your products/services. Once you have your list of companies to target, your next step is to locate the decision-makers and leaders.
The Research Phase
Combing the web for contact details can be laborious, but social media sites like LinkedIn make it a little easier. You will also be checking out the company websites, other social media profiles, as well as online interviews and profiles to root out contact details.
As you can see, the research aspect of building a B2B prospect database can be incredibly time-consuming.
Playing online detective is one way to find your leads’ contact details, but as with most business decisions, the free option usually costs you more in time than you would like to commit.
No doubt, you are a busy professional and would appreciate faster and more efficient ways to build your B2B prospect database. The good news is that you no longer need to spend hours combing through the farthest reaches of the internet to hunt down contact information.
Lead Lantern is an innovative solution that takes most of the hard work out of finding reliable leads for your B2B contact database. Of course, you still need to do some of the work in creating a persona for your ideal customer, and you still need to understand which industries are most likely to benefit from your products/services.
However, once you have this information, Lead Lantern makes finding the contact details of your prospects a walk in the park compared to the manual method. Input your parameters into the search function, and Lead Lantern will provide hundreds of contacts to add to your database.
Verifying your leads is also handled by the software and takes but a couple of mouse clicks. Because you are only paying for valid leads you collect from the software, the verification feature is a great money saver as well.
The Attrition Rate of B2B Sales Leads Databases
Did you know that your carefully constructed B2B sales lead database will decay by around 30% every year? In high turnover industries, such as Silicon Valley technology fields, the attrition rate can reach as high as 70%. [* https://blogs.informatica.com/2016/08/03/customer-data-decay-why-your-contact-data-is-rotten/#fbid=VcnrLJCsCBX]
What this means for your database is that your work at finding leads is ongoing. You will need to both prune and nurture your B2B prospects database, so you always have fresh leads to pursue.
Fortunately, when you do your B2B prospecting through Lead Lantern, you significantly cut down on time needed to keep your database up to date. Plus, the savings on time in research makes the small monthly fee a valuable investment rather than a liability.