What a year 2020 has been. More than half a year into the pandemic and companies all around the world have been bearing the brunt of COVID-19. While the pandemic continues to send shockwaves in the global economy, businesses are making an effort to resume their operations, slowly and steadily. This article talks about the impact of COVID-19 on B2B lead generation and how businesses can shift their strategies accordingly.
Impact of COVID-19 on B2B lead generation
From facing the pressure to preserve cash to losing clients, B2B companies have been affected deeply by COVID 19. According to a report by McKinsey and Co., 50% of B2B companies cut their short-term spending in response to the pandemic. Moreover, about the same amount of businesses expect to reduce long-term budgets as well. This has definitely affected the lead generation levels of the companies. Similarly, due to the lack of in-person meetings, which previously used to be a great way to generate leads, the majority of running businesses are struggling to generate leads. Businesses are trying to make the most of technology during these challenging times to keep their internal operations as smooth as possible. However, getting prospects into closing a deal hasn’t been an easy task for the majority of them.
While everyone is adjusting to a new reality, it is a need of the moment for businesses to identify new opportunities during times like these. Here are some lead generation strategies that can help businesses defy the idea that proper lead generation is unachievable during this pandemic.
1. Reposition your offering: It’s important to adjust your messaging to fit the times as buyers’ priorities have changed due to the pandemic. What may have worked a few months ago may come off sounding excessively pushy and ignorant. Not changing your messaging might lead potential buyers to unsubscribe from you. So during these times, it’s crucial that you create content that helps prospects progress through the buyer journey. By addressing your buyers’ pain points and needs during these challenging times, not only will you get an opportunity to connect with them, but you’ll also have a better idea of how to connect with potential leads. Understanding this, Alep Digital offers an intent-based lead generation platform to help you know when decision-makers are in the buying journey.
2. Maintain contact through multiple channels: Lead nurturing requires strategies that help your message get to the right people at the right time. To encourage potential buyers to buy your service or product, more unique and engaging content across various platforms should be created. Each touchpoint should trigger an action that leads them closer to buying. However, this doesn’t mean that your ‘gentle reminders’ are annoying to your customers. These don’t have to be a direct phone call or email but they could be blog posts or social media posts. Alep Digital helps your business engage with your potential buyers through various lead generation channels such as websites, landing pages, blogs, display ads, and more.
3. Focus on nurturing leads: Nurturing leads has become more important during these times due to the slowing down of the sales cycle and a cut on spending. Even though conversion rates are slow currently, make sure you’re reaching out on proper intervals to your potential buyers. From hearing what they have to say to prepare for objection or rejection, you need to invest in building customer relationships rather than only focusing on gathering leads. At Alep Digital, we highly focus on nurturing leads. We utilize Middle-of-the-funnel (MOFU) techniques to build relationships and earn the lead’s business by sharing relevant content that enables them to grow.
As we venture past this pandemic, it’s crucial that companies adopt a fresh perspective towards the situation and focus on reviewing and shifting strategies that make the best fit.
To learn more about how Alep Digital can help your company with better lead generation, contact us today!