Quality versus quantity: generating better leads
Good lead generation is about quality, not quantity. Here’s how blending demographic data with behavioural data can deliver leads more likely to convert.
This article was sponsored by ON24 to let readers know how leading companies drive pipeline with webinars »
Marketers are under constant pressure to deliver more leads. Too often, we respond to this pressure by designing programs that emphasise lead quantity over lead quality, resulting in a glut of low-quality leads that cost more in sales follow-up than they return in conversions.
Sales may be asking for more leads, but there’s an unspoken expectation that what they really want is better leads.
Traditional lead generation won’t to be enough to get us from ‘more leads’ to ‘better leads.’ Most of the tactics we rely on for lead generation don’t deliver much information beyond basic form-fill data.
But webinars are different: by providing prospects more ways to engage, webinars let marketers collect rich data about attendee preferences. Then we can use that data to understand how likely a prospect is to become a customer.
When a prospect downloads a white paper or attends a conference, they are telling us very little about their interests. They could be considering our products, but they could just as easily be checking out the competition — or looking for a free keychain. We get their contact information, which is valuable, but it will take several points of contact before the passive interaction of filling out a form results in a useful profile of that prospect.
But when a prospect attends a webinar, they often tell about their interests, and the degree of that interest, directly. By looking at their viewing time, the questions they ask, and whether they download additional materials, we build a clear picture what the prospect wants. That way, when the lead goes to sales, we know that we are delivering a prospect who is more likely to convert.
Even better, we’ve prepackaged that lead with customer questions and responses that the sales rep can use as conversation starters in their follow-up. Another trap marketers fall into is assuming that, because a prospect is right for us, it necessarily follows that we are right for them. That’s not always the case. Often a prospect who hits all our demographic marks is, from a sales perspective, a dead end.
Even though they looked perfect on paper, they just weren’t looking for a solution like ours.
That is, of course, assuming that we have nothing but demographic data. If all we know is the prospect’s industry and job title, anyone can look like a perfect fit. If we expand our view to include behavioural data, the picture is quite different. That’s because the way prospects engage with our content will tell us how interested they really are.
By shifting from an exclusive focus on demographic data to a blend of demographic and behavioural data, we can deliver leads that are less expensive to pursue and more likely to end in a sale.
Most marketing campaigns only deliver demographic data, usually through a download or registration form. While this data is valuable, it takes multiple touches before we can even begin to build a behavioural profile on that contact. Webinars, in contrast, deliver both demographic data (from the registration form) and behavioural data (from their in-webinar activity).
This is going to sound counter-intuitive: stop inundating sales with leads. When we flood sales with non-qualified leads, they have no way of knowing which prospects are the most valuable. Instead, they have to treat all leads equally, which forces them to spend valuable time chasing down leads that could be junk.
If you want to satisfy sales, you need to feed them qualified leads with a behavioural profile that will make the follow-up faster and more effective. That may mean fewer leads, but the higher close ratio means there will be more total conversions. And that, after all, is what everyone wants when they call for ‘more leads.’
On Wednesday, 26 July join ON24 to discover how leading companies drive pipeline with webinars. In this live, interactive webinar, ON24 VP of content marketing Mark Bornstein will break down ON24’s top tips for getting – and measuring – the best results from your webinars, along with examples from some of today’s leading brands.
Your webinars are the most powerful marketing tactic you’ve got. Register now and learn how you can generate better leads and drive more pipeline.
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