When it comes to lead generation, many people don’t quite understand what it is or what it truly means. And despite the fact that Business2Community reports that outside sales reps are able to convert prospects into clients 40% of the time on average (compared to 18% by inside sales reps), it’s hard for any company to make sales without successfully and consistently generating leads. To do this effectively, here are some common myths about lead generation that could be slowing you down.
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- Myth: Assuming that leads equal money
Many professionals in business assume that generating leads always leads to money, and they go for quantity over quality. Of course, the real key is to focus on generating quality leads, sometimes known as sales qualified leads (SQL). Leads that even the best sales team can’t convert won’t help your business grow. Make sure there’s constant communication between your marketing team and sales team to improve the quality of your leads. This is especially important if you have outsourced inside sales.
- Myth: Assuming that leads equal money
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- Myth: New leads are more important than returning business
According to Instapage, “returning customers are who you should be focusing your attention on if you want your business to be more profitable. According to research, they’re up to 60-70% easier to sell to than new customers, and they’re worth around 10 times their first transaction. Even more convincing, studies show that just a 5% increase in customer retention can boost a business’s profits by 95%. So instead of prioritizing more leads, focus on more profit by learning how to maximize your customer lifetime value.”
- Myth: New leads are more important than returning business
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- Myth: Lead generation should never be outsourced
Like many other services, some people believe that it’s best to have a designated on-site team to focus on lead generation. But the fact is, outsourced sales consulting services are just as efficient and often lead to better results. This also frees up other employees to focus on other pressing issues to improve your business, so the benefits of outsourcing lead generation services are twofold.
- Myth: Lead generation should never be outsourced
- Myth: Making form fields necessary is essential for lead generation
One of the biggest assumptions in lead generation is thinking that it is always helpful to make form fields necessary to fill out for potential customers. The reality is, excessive contact forms or modal windows often just annoy them, and they’ll feel as though they’re giving out too much information for something they’re not sure they want.
Ultimately, these are just a few mistakes to try to avoid to generate quality leads. Staying vigilant on the latest lead generation trends as well as doing plenty of research is the best way to stay up-to-date. And for more information about B2B sales outsourcing, contact Sales Focus Inc.
