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Just starting with B2B lead generation?
The learning process won’t be impossibly difficult. However, there are a few concepts and terms that may be confusing, especially if you look at them from the strategy-making POV.
Here are some of the important lead generation terms you will come across very often:
In the marketing funnel, first is the awareness stage, which takes place at the beginning of a buying cycle. The awareness stage marks the beginning of a marketing strategy. In awareness, people begin to understand their problems and opportunities. This is where lead magnets are used to generate leads.
BoFu is a term used by marketers to describe the final stage of a marketing funnel. This is where prospects are in total need of making a decision and are swiftly looking to compare brands on key offerings like price and delivery date. Attempts to persuade them while they are at this crucial stage should be made gently and carefully so as not to interrupt their decision-making process.
Your buyer persona represents the type of person or group who buys your products and services. It’s important to create buyer personas when you’re ready to outline your lead generation strategy.
Related Topics: 5 Lead Generation Campaign Ideas for B2B Startups
Cost of customer acquisition (CAC) is a measure used in marketing, finance and management to evaluate the level of expenditures required to generate new customers. It can also be considered as a gauge to measure the efficiency with which sales and marketing expenses are used. CAC is calculated by dividing all the sales and marketing expenses by the number of customers acquired during a certain period.
Conversion rate is a measure of how many people who visit your site or otherwise see your ad actually take the next step you want them to. Conversions are typically counted as sales, leads or registrations, depending on what action you have decided is the most important.
Cost per lead is a key metric used to gauge the effectiveness of an acquisition channel or campaign. This metric is calculated by dividing the total expenditures on a channel or campaign by the total number of leads generated through that channel or campaign.
Click-through rate is a metric that reflects how effective your ads or posts are at generating interest from potential customers. A high click-through rate means that your ads or posts are catching the eye of interested customers, while a low click-through rate indicates that your efforts aren’t yielding the desired results. CTR is calculated by dividing the total number of clicks on an ad or post by the total views.
Drip marketing campaigns are automated email sequences. Implementing a drip marketing campaign is a great way of engaging your leads, building trust and authority and moving them through the sales funnel. These types of campaigns can be developed and administered through a variety of email cloud-based platforms. Implementing a drip campaign allows you to safely nurture contacts, which are more likely to convert, into customers over time.
The Bounce Rate is one of the most important email metrics. It reflects a percentage of the total number of messages sent by the campaign that ended up in the recipient’s spam folder or were not delivered at all.
Inbound marketing is a marketing strategy for a B2B company to attract their target audience to come to them naturally. Inbound marketing includes setting up automated processes to nurture potential leads, and actively exploring the best channels for your market so you can find potential customers and then convince them to do business with you.
Key performance indicators (KPI) are business metrics to track the performance of a marketing campaign or particular marketing channel. KPIs help businesses to evaluate their performance against standard metrics. The most common ones are customer acquisition cost, customer conversion ratio, landing page conversion rate and customer lifetime value.
Leads are generated when people provide their contact information in response to a request like an ebook or a white paper, or by using one of our calculators.
A lead magnet is an asset that offers value to the prospects in exchange for their contact information. Lead magnets are an effective way to build an email list. Using a lead magnet allows you to collect prospective and current customer email addresses. Your brand can then use these subscribers to send marketing emails, directly and specifically targeted to their needs and interests.
Lead segmentation is a technique that places leads into groups based on common characteristics. Using lead segmentation helps to streamline the sales process and marketing campaigns by focusing on areas that have the most potential. By targeting different segments, your business can ensure that potential customers receive the kind of information or solutions they want.
The lifetime value (LTV) of a customer is the estimated net profit attributed to a single customer over their lifetime. It can be defined as the net profit margin multiplied by the number of years that the customer usually remains an active user, or the present value of future earnings.
A marketing funnel is a process by which visitors are converted into leads and then into customers. The funnel process takes your audience or site visitors through a multi-step process of attracting them to you and reaching out to them in a way that encourages action. Each step of the funnel draws the audience closer to taking some type of action on your part and at the end, they become leads or customers.
MoFu is the stage of the buyers’ journey when they are looking for a solution to their pain. MoFu is the middle of the funnel where people are aware that they have a problem that needs solving but are not yet aware of the best solution.
ToFu is the stage in a marketing funnel where prospective customers look for information about a problem, idea, or need. It also comprises people who are still looking for information from different sources before zeroing in on a solution and eventually becoming customers of that solution. In other words, these are prospective customers in an organization’s sales funnel.
Value proposition has a wide-ranging definition but is basically used to refer to the unique combination of features and benefits that a business offers. Value proposition is an important part of determining how you need to deliver your product or service to the audience.
While you learn the ins and outs of lead generation, let experts take care of your business growth. Connect with DAT-A-CCURATE®, a trusted B2B lead generation agency.
As one of the top lead generation companies, we have helped many renowned B2B brands grow (and dominate). We have a large team of specialists who commit to delivering clients maximum value and an exceptional experience. Get in touch with us today and let’s talk.
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