Top 5 B2B lead generation challenges for IT companies
Tackle B2B lead generation with our tips and grow your revenue
The biggest challenges regarding B2B lead generation for IT companies can be summarized as: getting in touch with the target audience (36%), getting a predictable number of leads (38%) and setting up market engagement campaigns (31%). In this blog, we dive into the top 5 most important challenges for IT companies regarding B2B lead generation.
1. Defining a strategy or offering to engage with potential leads
Of all B2B marketing departments, 42.1% state that they consider determining a strategy or offering to approach potential leads to be their most important lead generation challenge. The needs of your target audience are constantly changing due to developments and trends within the industry. Finding the right online marketing strategy is therefore a challenge (Leadforensics). One way to meet this challenge is by identifying your ideal customer. This is why we start each collaboration with a strategic session. Our online marketing strategists identify the ideal buyer persona for your IT company, based on the industry they are in, how they collaborate, certain actions they take or a process they go through. Based on the ideal customer, we look at what topics are trending in the industry, create content for this (whitepapers, e-books) and offer it to potential leads.
2. Have enough / the right people to generate leads
No matter how good your strategy is, if you don't have the right people to execute it, you're never going to generate the right leads. A study conducted by recruitment and selection agency SchaalX, showed that within online marketing there are 7x more vacancies than people. Which means that most of the time the right online specialists to professionally execute your strategy are not readily available. One way to solve this issue is to outsource your company's lead generation activities to an online marketing agency. At Leadgate Europe we provide lead generation based on the Marketing as a Service model. For a fixed monthly fee you get access to an external team of online marketing specialists, meaning that for the price of a single employee you can get access to an entire team. If your company is also facing this issue, feel free to check out our packages.
3. Measuring the results of your lead generation
After implementing the right strategy and having the right people in place, measuring your lead generation success comes in third. For 31.2% of B2B marketing departments, this is a challenge, especially knowing which should be the right metrics to monitor and analyze the achieved results (RAIN Group). One way to solve this challenge is to look at the different steps of the marketing and sales funnel. Optimization of your marketing and sales funnel leads to more orders for your IT company. Percentage-wise, there is more profit to be made at the beginning of your combined funnel. This way you will get more revenue from your marketing campaigns.
4. Funding B2B lead generation activities (budget)
In a study by BrightTALK regarding B2B lead generation, 53% of all B2B marketers indicated that more than half of their budget is allocated to B2B lead generation. Not surprisingly on the other hand, 61% of those surveyed indicated a lack of resources (staff, budget and time) as their biggest barrier to B2B lead generation. One solution for IT resellers is to request Market Development Funds (MDF) from their IT vendor. Parties that make MDF available are: Cisco, Microsoft, Fortinet, Check Point, F5 Networks, Juniper, Aruba Networks, VMware, Citrix, HPE and more. With the MDF made available, partners can conduct sales and marketing programs (including B2B lead generation), with the goal of selling the vendor's IT services easier and more.
5. Convert leads to customers
Not every generated lead has an immediate purchase intention. This is because the buyer journey within B2B is quite complex. Research conducted by Gartner, shows that more than three quarters (77%) of B2B decision making units (DMUs) indicate that their last purchase was quite a challenge. So it's essential to nurture your generated leads and help them through the buyer journey. For this reason, of all B2B companies 74% see lead nurturing and conversion as their highest priority (Business2community). One way to elevate your conversion from lead to customer is to use Marketing Automation and follow up your leads effectively. Below you will find more information about marketing automation and tips for following up leads.