Introduction When it comes to lead generation, many people don’t quite understand what it is or what it truly means. And even though Business2Community reports that outside sales reps can convert prospects into clients 40% of the time on average, it’s hard for any company to make sales without successfully and consistently generating leads. To do this effectively, here are 4 common myths about lead generation that could be slowing you down. Myth 1. Assuming that leads to 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 2. 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 3. 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 4. 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. Conclusion 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. For more information about B2B sales outsourcing, contact Sales Focus Inc.
