15/05/2023
What Is the Lead Generation Process in B2B?
Lead generation is the process of one business using various tactics to identify and cultivate potential customers for a product or service. If you're a business with a product or service, lead generation is how you find qualified candidates that will benefit from what you bring to the table.
In the B2B world, one business’s customer base is other businesses. This differs from the more commonly thought-of B2C (business-to-customer) model, where a business's primary revenue stream is from consumers.
Traditionally, the B2B lead generation process comprises the first few steps of the B2B sales cycle outlined below.
1 Prospecting: The first step is identifying potential customers. This can be accomplished through either inbound or outbound prospecting. Inbound prospecting is when potential customers find your business via their own search. Outbound prospecting happens when you identify prospects who you believe need your product(s) or service(s).
2 Researching: Once you have your prospects, you need to learn more about them. Marketers learn their prospects' needs, wants, and behaviors in the research phase.
3 Approaching: Now that you have a pool of prospects, it's time to decide what approach will best capture them. This step is where online tools, social media, website content, software, etc., come into play.
After these first three steps, your leads are generated, and you’re ready to tackle the rest of the B2B sales cycle.
