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What is B2B Lead Generation? Everything You Need to Know

B2B lead generation is a vital process in business-to-business marketing. It involves attracting, nurturing, and converting leads into customers so that you can drive revenue and fuel business growth. 

Without an effective lead generation strategy, B2B businesses will struggle to build a robust pipeline of qualified leads. But ensuring that you attract the right prospects and keep them engaged as they progress through your sales funnel can be a challenge. 

In this guide, we’ll cover the top strategies and tools for successful B2B lead generation and delve further into why it’s so important for your business.

What is B2B Lead Generation?

B2B lead generation is the process B2B businesses use to find and attract potential customers. It’s a critical aspect of marketing and sales, designed to improve conversion rates and optimize the sales pipeline.

The first step of B2B lead generation involves identifying businesses that may be interested in your products or services. Once you’ve established your target audience, you can capture the contact information of potential customers using a range of different strategies (we’ll get to those in a moment).

Using the information you’ve gathered, you can then begin to contact relevant businesses with personalized marketing campaigns and sales pitches. 

As you engage with prospects and guide them through the sales funnel, you’ll find out more about their interests, needs, and readiness to buy. This information will help you to segment and categorize potential leads so that you can enhance your outreach efforts.

Why B2B Lead Generation Matters

As a B2B business, you’re unlikely to find success by simply sitting back and waiting for the customers to come to you. This is why B2B lead generation is so important – when done right, it provides a steady and predictable stream of leads primed for converting into paying customers.

Without lead generation, growing your business and its revenue is nearly impossible. Not only will you have fewer customers and fewer opportunities to make a sale, but you’ll miss out on the valuable data that you gather throughout the lead generation process. 

Lead generation data helps you to understand your target audience’s needs. By analyzing how audiences respond to different lead gen efforts, you can uncover valuable clues that will help you attract new prospects, nurture leads, strengthen existing relationships, and ensure repeat business. 

Types of Leads: MQL vs SQL

In B2B marketing, leads are generally placed into one of two categories: 

    • Marketing qualified leads (MQLs) – leads that have expressed an interest in your products or services and are suitable candidates for focused marketing campaigns.
    • Sales qualified leads (SQLs) – leads that have expressed an interest in buying your products or services and are ready to talk to your sales team. 

The key difference between MQLs and SQLs is their readiness to purchase. While an MQL might have clicked on one of your ads or visited your website a couple of times, an SQL will typically have spent more time engaging with your business and will display buying intent behavior. 

Another way to tell the difference between a marketing-qualified lead and a sales-qualified lead is by the type of content they view. 

MQLs are still in their journey’s research phase, so they will be browsing blog posts, signing up for webinars, and downloading informational resources. SQLs, on the other hand, are more likely to look at case studies, product demos, and pricing pages. 

By understanding the differences between MQLs and SQLs, you can tailor your lead generation strategy to suit each type. This will increase the effectiveness of your lead nurturing efforts and result in better conversion rates.

For MQLs, focus on increasing brand awareness and educating via informative content. For SQLs, showcase how your product or service can solve their unique challenges.

Key B2B Lead Generation Strategies

Effective B2B lead generation strategies vary from business to business. There’s not a one-size-fits-all approach – it’s about understanding what your audience wants and how you can deliver it in line with your organization’s goals. 

By leveraging various channels, you can attract high-value leads and fill your sales pipeline. Let’s look at some of the most powerful B2B lead generation strategies that will set you on the path to pipeline success.

ON24 Webinar Software

We’ve designed our ON24 webinar software with all of these considerations in mind – plus many more. Find out how our webinar solutions can streamline and enhance your lead generation efforts with our on-demand demo.

Content Marketing and SEO

Content marketing is a time-tested way to reach your target customers and kick-start or ramp up their engagement with your business. Producing high-quality content might take time (though you can maximize efficiency by implementing a content repurposing strategy), but the integral role that content plays in lead nurturing means that it’s well worth the effort. 

Valuable content helps you to attract and retain leads. You can use blog posts, e-books, and whitepapers to answer common questions and address customer needs, positioning yourself as an expert in your industry. 

But your content won’t do much good if potential customers can’t find it. This is where SEO (search engine optimization) comes in. Optimizing your content for search engines means that users actively searching for solutions you offer will be able to find you. 

A basic content marketing and SEO strategy for generating leads will look something like this:

    1. Conduct keyword research to find topics of interest to your audience.
    2. Design a content plan and publication schedule.
    3. Create and optimize your content using SEO best practices.
    4. Include a call-to-action where relevant (e.g., “download content” or “register for webinar”).
    5. Publish your content and share it with your audience.
    6. Analyze performance and use the insights you gather to enhance your strategy.

The value of great content extends far beyond SEO. You can share it on social, link to it in email newsletters, and publish it to personalized content hubs to continue nurturing leads throughout the funnel.  

Webinars

Webinars are a powerful B2B marketing tool and an effective way to drive leads. Using webinars for lead generation allows you to demonstrate your knowledge and expertise while capturing valuable engagement insights that can fuel the lead-nurturing process. 

Webinars and virtual events are generally more immersive than other types of content and online experiences, so they offer a great opportunity to connect with your audience on a deeper level and respond to their needs directly.

By encouraging audience participation in the form of polls, surveys, Q&As, and group discussions, you can learn where your leads’ primary interests lie and what their biggest pain points are. 

After your webinar has ended, you can separate attendees into MQLs and SQLs based on their engagement patterns throughout the webinar. Creating a webinar series and providing on-demand access will allow leads to continually engage with your business following the event. 

Your webinar registration form will have captured important contact information that you can use to nurture leads post-event. It’s best to keep the number of required fields to a minimum, as lengthy forms can deter signups. A short form will still let you gather all of the information you need, including business name, industry, and email address. 

Email Marketing

Your leads are just as busy as you are, and when life gets in the way, they sometimes need a little nudge to keep them on track.  

Enter email marketing – the ever-popular B2B lead generation strategy that’s easy to achieve with minimal effort. It allows you to seamlessly guide leads through the sales funnel, providing timely reminders, engaging content, and targeted messages that resonate. 

One of the reasons email marketing is such a popular lead-generation technique is because of how well it integrates with other strategies. You can use email marketing to distribute content, promote webinars, and drive traffic to specific landing pages. 

Another reason is that it’s easy to both personalize and automate email campaigns. By segmenting your audience and setting up triggered email sequences, you can nurture leads at all sales funnel levels and deliver relevant, timely messages without requiring a lot of resources. 

Audience segmentation can take many forms, so defining your criteria is the best place to start. You can use firmographic data, behavioral information, buying journey stage, and any other relevant factors to create defined audience segments.

Different segments are then targeted with tailored email campaigns. Email content, subject lines, frequency, and send times can all be personalized to the audience’s needs and preferences.

You can set up triggered emails sent when a specific action is completed, automating your lead nurturing process and ensuring that your prospects receive the right information at the right time. 

Paid Advertising and PPC

B2B buyers often turn to search engines to find products and services that solve their problems. To get your business in front of these buyers, you have two options: SEO content and pay-per-click (PPC) advertising.

At first glance, PPC seems like the least cost-efficient option of the two. However, it offers some unique advantages. 

Unlike SEO, PPC doesn’t require a long-term commitment. By paying to target specific keywords that align with your business’s offering and have high buying intent, you can rapidly scale up lead generation to deliver quick results.

PPC also provides a level of flexibility that’s not possible with SEO. If your lead generation strategy changes, you can quickly adapt your Google Ads setup to reflect your new priorities.

However, paid search isn’t the only type of paid advertising available to connect with potential buyers. Google Display Ads, and particularly LinkedIn Ads, can be highly effective ways to generate leads. 

LinkedIn Ads allow you to target professionals and business decision-makers interested in your products or services. LinkedIn users are business-focused when browsing the platform, typically making them more receptive to B2B marketing. 

The platform holds valuable information about each user, including their job title, company name, company size, and industry. Using this advanced set of targeting criteria and the array of advertising formats available, you can leverage LinkedIn’s vast network to generate high-quality leads.

Tools for Effective B2B Lead Generation

B2B marketing technology has exploded over the past few years, and there are now tools available to help manage pretty much every aspect of lead generation. Effective use of the right tools will maximize the efficiency of your B2B lead generation efforts – here’s how.

ON24 Webinar Software

We’ve designed our ON24 webinar software with all of these considerations in mind – plus many more. Find out how our webinar solutions can streamline and enhance your lead generation efforts with our on-demand demo.

CRM Systems and Lead Scoring

Lead scoring is a vital component of the lead generation process. It helps you to understand which leads should prioritized to enhance conversion rates, based on individual behavior and attributes. 

Customer relationship management (CRM) systems simplify the lead-scoring process. Rather than tracking audience interactions across multiple platforms, an integrated CRM system will allow you to see important information all in one place.

This ‘per customer’ view can include things like contact information, engagement level, interaction history, and communication preferences. By assigning numerical values to essential data and adding up the total per lead, you produce what’s known as a lead score. 

CRM systems with built-in lead scoring can automate this process by identifying high-potential leads based on pre-defined criteria. This frees up time spent on lead nurturing and ensures that lead scores are always current.

Holding accurate lead scores and information in one centralized platform also benefits marketing and sales alignment. Both teams can access the same data, ensuring a precise and consistent view of each lead’s status and avoiding errors when transferring SQLs from marketing to sales.

Lead Generation Tools

CRM systems help you manage leads you already have but won’t help you find new customers. That’s a job for specialist lead generation tools containing vast databases of potential contacts.

Some of the most popular lead-generation tools on the market include:

    • Hunter.io – an all-in-one email outreach platform that helps you find and verify email addresses based on your ideal customer profile (ICP) or a specific domain.
    • UpLead – a verified B2B database containing over 160 million contact profiles, where you can search for leads that match your ICP and access contact details, including email and phone number.
    • LinkedIn Sales Navigator – a premium subscription tool that leverages the platform’s large network of professionals to help businesses find and understand potential leads.

Best Practices for Converting B2B Leads

The end goal of B2B lead generation is to convert prospects into paying customers. Every interaction you have with a lead throughout their buying journey will impact whether you make the sale or not, so it’s important to understand the best practices for converting B2B leads.

ON24 Webinar Software

We’ve designed our ON24 webinar software with all of these considerations in mind – plus many more. Find out how our webinar solutions can streamline and enhance your lead generation efforts with our on-demand demo.

Personalizing Outreach

B2B buyers are careful decision-makers. They need to be sure that a product or service will help them tackle their challenges and achieve their goals before they agree to spend precious budget on it. But each buyer’s needs and pain points are different – so generic approaches simply won’t cut it.

You need to tailor your approach to convert leads into paying customers. Personalizing messaging, content recommendations, and communication channels is essential for demonstrating value and building trust.

Data is your best friend when it comes to personalization. By segmenting your leads based on their behavior, industry, company size, and other relevant information, you can craft personalized outreach strategies that resonate with leads, improving engagement and conversions.

Timing and Follow-Up

The role of timing in lead nurturing campaigns can’t be understated. Timely follow-ups keep leads engaged with your brand while they weigh up their options and prepare to purchase.

Here are some tips for optimizing your timing and follow-ups to ensure that your business is front of mind when a lead makes their decision:

    • Use multiple channels – different channels serve different purposes at various stages of the buyer’s journey. For example, content marketing can be more valuable for lead nurturing early on, while direct outreach can improve conversion rates further down the funnel.
    • Create automated email sequences – guide leads through the funnel with planned email sequences. An example lead nurturing sequence looks like this:

introduction & value proposition > useful resource > key features > case study > offer to speak/answer questions > introductory pricing offer

    • Set up triggered responses – boost engagement by setting up triggered emails sent after a lead completes a specific action. This allows you to capitalize on existing interest and build momentum (e.g., following up with a lead after they ask a question during a webinar).
    • Maintain awareness through retargeting ads – use paid advertising to support the progression of leads through your funnel by retargeting those who have shown interest but have not yet converted.  
    • Tailor communication frequency – adjust your outreach frequency to match the lead’s interaction level or stage in the journey, increasing frequency as they grow closer to a decision.

Monitoring lead generation metrics to refine your timing and follow-up methods is crucial to achieving long-term results. By adapting your strategy based on the insights you uncover, you can ensure your lead generation campaigns are optimized and ready to deliver conversions. 

Conclusion

B2B lead generation is essential for building a robust pipeline of high-quality leads ready to be converted into customers. By implementing a variety of strategies and leveraging the right tools, you can widen your sales funnel, nurture leads successfully, improve conversion rates, and fuel business growth. 

The ON24 Intelligent Engagement Platform allows you to combine powerful webinar lead generation with personalized content experiences to effectively nurture leads. With seamless CRM integration and inbuilt engagement scores, you can enhance your lead scoring models based on real-time interactions and optimize your B2B lead gen efforts.

ON24 Webinar Software

We’ve designed our ON24 webinar software with all of these considerations in mind – plus many more. Find out how our webinar solutions can streamline and enhance your lead generation efforts with our on-demand demo.