B2B selling has changed.
Looking at research conducted by LinkedIn, we can see several interesting trends that are shaping the way companies are finding new business.
The report highlights that since the pandemic, 60% of buyers now work remotely, there is an abundance of sales technology in the market, and buyers now have more information than ever before.
This access to information gives buyers more knowledge about products and services, meaning they do not need to touch base with a sales representative until later in the sales cycle.
Zippia data backs this up, highlighting how B2B buyers are 57%-70% of the way through their research before speaking with a sales executive.
What does this mean for B2B sellers?
Well, it means the sales process is becoming more complex, as the same LinkedIn research shows the average buying committee is now 13 people, up from 6.8.
It also means sellers have less time to influence buyers, and therefore have less control of the buying process.
The increase in sales automation technology means, in order to generate more B2B leads, sellers must stand out above the increasing noise of outbound sales.
That’s because there are 79% more sales emails, but a 30% decrease in response rate.
Sales executives are feeling this difficulty too, as 61% of salespeople consider selling to be harder or much harder than just five years ago.
With less control, less time to influence buyers and more competition than ever before, sellers now need to find ways to adapt to the changes of B2B selling.
To put it simply, to generate new B2B outbound leads, you need to change the way you are reaching out to people.
Here, we will share seven methods we use to help our clients increase their lead generation performance to gain more engagement, more meetings, and more sales.
1) Flip the Script
Typically, most companies have a lead generation process that looks something like this:
Sales meeting – deal closed – relationship established.
However, research shows that a new trend is emerging, as high-performing companies (hitting over 150% of their quota) are spending 10% less time selling than average performers.
Instead, they are investing more time into researching prospects before reaching out.
This is why we suggest that you ‘flip the script’, taking more care and attention to building relationships first, before trying to schedule a demo or go in for the close.
Instead of jumping straight into asking for a call, try and establish a genuine connection first, by taking the extra research time to get to understand your prospect’s needs and desires.
By flipping the script, your new lead generation process should look more like this:
Relationship established – sales meeting – deal closed.
2) Make it Personal
People appreciate the human touch.
In fact, 90% of leading marketers say personalisation significantly contributes to business profitability.
Whether you’re reaching out using email, social media, or over the phone, making your message personal goes beyond using the recipient’s first name.
True personalisation requires an additional stage of research.
To create a friendly feel, mention a blog post they have written, speak about a connection you have in common, or ask them for insight about their job role.
Segmenting your target audience makes this process easier, as it allows you to tailor your approach to each specific group, based on their situation, needs and wants.
Most importantly, cut the robotic sales pitch and speak to your prospects like you are talking to a friend.
You never know, they may just become one.
3) Utilise Various Communication Channels
With so much noise to contend with when it comes to B2B selling, it’s important to diversify your lead generation channels.
By utilising multiple channels such as phone calls, emails and Linkedin InMails, you can reach a wider audience and increase the likelihood of reaching potential customers where they are most active and engaged.
Each channel offers unique advantages, such as the personal touch of a phone call versus the high return on investment of email.
For example, 89% of B2B marketers rely on Linkedin for lead generation, as it allows you to find people by their job title and the company they work for, allowing you to hone in on decision makers.
However, research from the RAIN Group shows that 54% of technology buyers prefer being contacted by cold call.
That’s why we recommend you implement a combination of communication channels in your sales cadence to increase your response rate and generate more leads.
4) Become a Mentor
87% of B2B buyers say they are more likely to buy a product or service if the salesperson changes the way they think.
But how can we have such influence over buyers?
For starters, you need to initiate a conversation, asking questions to understand your prospect on a deeper and personal level.
Then, salespeople need to demonstrate their value. To do this, balance enquiry with advocacy by sharing ideas that may be of benefit to the prospect.
The important thing is to provide this value without expecting anything in return. Remember, you are siding with the prospect to solve their issues, not taking an opposing side.
By providing free value, you are subconsciously positioning yourself as an expert within your field, all while establishing trust.
5) Keep it Short and Sweet
People are busy.
Therefore, when you’re first reaching out to a prospect, keep your messaging short and sweet.
Aim for between 50 and 125 words for a better response rate.
The response rate for shorter InMails (under 400 characters) is 22% higher than the average response rates for all InMails.
To increase your response rate, try using this formula to spark a conversation:
I know who you are – I understand your problem – I have the solution.
These three steps allow you to keep things personal, showcase your knowledge, and offer value, all without wasting your prospect’s time.
6) Don’t sell! (Yet)
You’re going to be tempted to offer a demo straight away.
But don’t.
Remember, you are networking, NOT selling (yet!).
Your initial goal is to get a response.
Then, your goal is to build rapport and get the prospect talking, by asking provocative questions to uncover their needs and discover where you can best help them solve a problem.
Lead generation is all about building real connections. It’s no longer a quick-fix scheme, but a process designed to reap rewards in the long run.
7) Skip the hard work
That’s right – there is a cheat code to lead generation.
That is to leave your lead generation efforts to the experts, by outsourcing your outbound sales activity.
Outsourcing will give you a cost-effective solution to generating new B2B leads, giving you instant access to the expertise and technology that a specialist sales agency provides.
What you gain in new business leads, you save in time, allowing you to focus on other aspects of your business.
If you want to ramp up your lead generation efforts, get in touch today.
We’re here to help your business flourish.