A strategic marketing overhaul is crucial for B2B businesses in Malaysia struggling to get qualified leads in their sales funnel. The truth is that primary dependence on outbound, disruptive lead generation strategies is no longer viable today. Previously, B2B businesses utilized cold calling, mass/non-personalized emails, and bulk advertising to entice prospects. The potential buyers solely relied on the seller for the required information and would be coerced into making purchases. However, the status quo has changed with the popularization of search engines and social media.
Today, most consumers are now empowered with knowledge, and are looking to educate themselves before they purchase. Business-to-business (B2B) corporations have not been spared from this consumer behavior shift. B2B marketing strategies must pivot to reflect the modern-day consumer.
Fundamental Changes in B2B Lead Generation:
Today, buyers in Malaysia can find all the information they require on the internet. Furthermore, multiple sellers pursue these prospects for the same products/services. It won’t be far-fetched to say that the ball is now in the buyers’ court. In most instances, they thoroughly research their problems, possible solutions, and the best sellers online before approaching them. Because they have done their homework well in advance, businesses cannot sway them with mediocre content or persuasive selling. Therefore, B2B lead generation is more about attracting leads than chasing them, and this is achievable based on a robust demand generation campaign to garner a strong digital presence.
Uncovering the Truth about B2B Lead Generation in Malaysia
Comprehensive Digital Demand Generation is the Prerequisite for Successful Lead Generation:
Businesses of all types, including start-ups and established enterprises, can attract quality leads only with digital demand generation. The target audience is possibly looking for relevant, industry-related information on Google, LinkedIn, YouTube, or Trade Forums. Providing prospects and customers with well-researched, engaging content is the first step toward cementing the brand’s credibility as an industry leader.
Filtering Leads is Necessary for the Earliest Stages of the Sales Funnel:
Businesses cannot afford to have a single penny squandered with receding marketing budgets and heightening competition. Many companies still commit the mistake of engaging with unqualified leads until they fizzle out, leading to the wastage of precious marketing resources and time. One must take a proactive approach by setting precision-based filters for all inbound queries via contact forms. Weeding out unqualified leads early on is the secret to successful B2B lead generation and nurturing.
Reinvigorating Email Marketing and Telemarketing can Boost Lead Generation:
As discussed above, generic cold calling and email blasts no longer work today. The average buyer is far more discerning, knowledgeable, and tech-savvy than ever. Revamping the marketing emails and outbound calls with a personalized approach can invoke a highly positive response. Integrating these efforts with digital marketing can augment digital demand generation to yield a steady stream of qualified leads.
Local SEO Strategies can generate 50% More Leads:
It doesn’t matter if the B2B business is confined to one location or has multiple branches. Local SEO strategies can elevate the online reach and help buyers in the vicinity find the business. This doesn’t even require much time or investment. Posting regular blogs optimized with local keywords and paying attention to Google My Business Bio is handy enough.
Online B2B Events are the Cornerstone of Digital Demand Generation
The Covid-19 pandemic has drastically changed the B2B marketing realm. Face-to-face client meetings have shifted to zoom calls, and webinars have replaced on-site trade events. Businesses overcome these challenges by partnering with trustworthy marketing agencies.
Conventional lead generation involved prospects responding to outbound lead generation strategies during the early stages of the sales cycle. This provided B2B marketers with the upper hand, with sufficient time to nurture and convert them into SQL (Sales Qualified Leads).
However, most potential buyers find all the necessary information online with the advent of digital media. Hence, they contact sellers at fairly advanced stages of the B2B sales funnel. Nurturing leads directly toward the bottom of the sales funnel is a massive challenge. Hence, having a strong digital presence and sharing insightful, engaging, and relevant content will portray the business as an industry expert.
Furthermore, businesses should ensure that the target audience finds the content on the right digital platforms at the right time. This inbound approach to lead generation will maximize the conversion probability by familiarizing buyers with the brand early on.
It is clear that understanding consumer behavior is vital to lead generation marketing. By finding out what exactly the consumer’s needs and purchasing preferences are, businesses can create highly focused lead generation campaigns that produce desirable results. In a constantly changing market environment, traditional modes of lead generation marketing will not suffice to increase sales and revenue. This presents a compelling reason to adopt newer strategies; strategies that give rise to personalized and relevant marketing messages to meet the varied needs of the target audience.