The “Lead Generation Strategy Research Summary Report,” released this October by Ascend2, shows the majority of sales, marketing, and business professionals are struggling to find success with their lead generation strategies.
The data reveals that 66 percent of sales, marketing and business professionals view their lead generation strategy as “somewhat successful.” About 21 percent said that they thought their strategy was “not successful.”
Although 32 percent of respondents said that an inadequate marketing budget was responsible for their poor lead generation strategy, about 35 percent of people said that a lack of quality data was to blame, topping the list of issues. Other problems that were cited included a lack of effective strategy (35 percent), limited content creation abilities (33 percent), and an inability to attribute leads to revenue (26 percent).
“Leads fuel the sales pipeline,” wrote the authors of the report. “But prospects are becoming much more sophisticated about engaging with companies and sharing the information marketers need to generate demand.”
To conduct its research, Ascend2 launched a survey within a panel of approximately 50,000 U.S. and international sales, business and marketing professionals. Nearly 78 percent of people said that their primary marketing and sales channel was B2B. The report shows how B2B lead generation can be challenging, but certain methods may be more effective than others, according to a study released by Chief Marketer.
Lead Generation in the B2B World
The “Annual B2B Lead Gen Survey” published by Chief Marketer back in August, found that 50 percent of B2B marketers thought referrals were the most efficient lead generation tactic. In second place was email with 48 percent of the responses, while live sales visits brought in 46 percent. At the bottom of the list of tactics with 4 percent were custom publishing and social media messages.
“Most respondents are thinking long-term, with 69 percent saying they want to acquire customers who will prove profitable over the lifetime of their relationship with the company,” the study authors wrote, in reference to lead generation. “Only 31 percent said they are looking to acquire new customers who will be profitable from the first transaction. Forty-three percent of respondents say their lead generation aims for 2014 are focused primarily on finding new customers.”