Putting your heart and soul into a new marketing campaign only to get a small number of conversions can be incredibly frustrating. It’s also a drain on your resources. Research shows that 53% of marketers spend at least 50% of their budget on lead generation. You waste precious money and time if that investment doesn’t convert customers.
Targeted lead generation is the secret to making every penny count.
It’s about making sure all of your resources are strategically invested so that every lead who enters your sales funnel results in a sale—and ideally a long-term business relationship.
This article will dive into identifying targeted leads and lead generation strategies that align with your growth goals.
What are targeted leads?
Targeted leads are leads who are highly likely to convert into an actual sale. They may be an individual or company who has expressed an explicit need for a service or product you offer. Or they may be a prospect or lead who you know (having done your research) will benefit by buying from you.
Targeted lead generation: A B2B strategy that segments a large market into smaller, focused groups of leads who are more likely to convert.
Targeted lead generation, then, is a strategy that focuses on targeted leads. You segment a large target market into smaller groups of potential customers and personalize messaging to offer those leads relevant solutions.
You zero in on the people who align with your buyer persona and who you consider the ideal customer. That means focusing your marketing efforts and nurturing tactics on those leads.
Now, the big question is: Where do you find these targeted leads?
We’ll cover this in more detail later on. But in general, you can tap into diverse sources such as LinkedIn or directly approach businesses in your geographical area. If you operate in a niche industry, you may look nationally for businesses that also operate in that niche.
Chances are you already have a list of potential customers who you’ve segmented. This is a great first step. Targeted lead generation takes a similar approach, but breaks down that list into even smaller, more targeted segments. Doing this allows you to identify and prioritize the higher-quality leads and then target them more precisely.
The segmentation process may be easier if you have existing data on customers in your Customer Relationship Management (CRM) system. Using tactics like a scoring system, you separate high-quality targets from those who may be in the early stages of your marketing funnel.
Why is targeted lead generation important?
The obvious answer is that it can boost your sales revenue. But there are various other business benefits that result from an effective targeted lead generation strategy.
It increases campaign efficiency while reducing costs
No business has unlimited resources. By focusing on quality leads, you allocate resources more efficiently so your teams spend less time and money on prospects that are unlikely to convert.
If you’re still on the ‘wide net’ marketing strategy, then you may be throwing money away. By focusing more on those segments identified as high-quality, you not only reduce overall costs, but can allocate a higher spend to your best segments.
It boosts conversions and ROI
Every business wants to optimize the ROI on its sales and marketing efforts. Targeted lead generation means delivering targeted messaging to interested prospects. Deliver relevant solutions for their individual needs and you’ll see conversion rates increase naturally.
That means every sales outreach and marketing campaign makes more of the resources you have, resulting in more sales and a positive ROI.
It delivers a personalized experience
Over 80% of customers prefer a business that offers a personalized experience. That’s precisely what you can deliver when you take a more targeted strategy. Get to know your customers inside-out and you can tailor everything from marketing to communication.
In B2B, this is particularly important for creating lasting relationships with your customers. Make them feel valued, show that you care about helping solve their problems, and they’ll stick around.
Similarly, in industries like hospitality, targeted lead generation tactics can be adapted to improve customer retention in restaurants. This approach not only attracts new customers but also encourages repeat business, which is crucial for long-term success in a competitive market.
If you operate in a crowded marketplace, this is also essential to stand out from your competitors. By targeting quality leads on a personal level, you reach customers before other businesses do and leave a lasting impression.
It offers better insights for growth
Targeted lead generation relies on a lot of data. You’ll need this to identify your best targets and what problems they need solving.
As your strategy develops, the quality of that data improves as you see what works and who it works for. This allows you to refine your tactics further.
Over time, you’ll be able to more effectively identify segments, niches, and markets you may not have previously considered. If you’re aiming to expand, these insights are invaluable.
Ways to segment targeted leads
One of the key elements of targeted lead generation is segmentation. But before you start segmenting your target list, ask yourself how you will separate them.
It’s much the same as if you used segmentation in previous marketing campaigns. Identify common traits as well as factors that make them a more qualified lead than others.
Here are the most common types of market segmentation:
- Geographic: These factors include location, language, and climate. The importance of these will vary according to your industry and offering. For example, if your product or service requires physical equipment or delivery, there will be less interest from potential customers who are based further away.
- Demographic: This sector can cover everything from gender and age to education and job role. Segmenting leads this way will help you identify key decision makers and end users.
- Behavioral: What sort of behavior do your potential customers exhibit? For example, you may have a target company on your list that is undergoing an expansion program and previous purchasing habits show they’re willing to spend on their tech stack. In this case, you might target them with new software to ensure collaboration in a bigger team or cloud-based services related to data management and security.
- Psychographic: This can include values, interests, opinions, and concerns, all of which can have an impact on purchasing decisions. For example, a CFO may be vehemently opposed to the use of generative AI and may be more inclined to do business with a company that shares that view.
As well as the usual segmentation categories, there are other factors you can consider when segmenting your target list and prioritizing leads.
For example, an SME with 50 employees will have less spending power than an enterprise with 3,000 employees. If you’re selling solutions like SAP BPC alternatives, larger companies with bigger budgets are more likely to need financial platforms to help with business consolidation.
That doesn’t mean you should dismiss the SME, though — if their needs align with your solutions, then they’re still a potential target.
7 targeted lead generation strategies to boost sales
It’s all very well to say that targeted lead generation will bring a host of benefits. What strategies will help you make those benefits a reality?
1. Increase brand awareness
If people don’t know about you, they’ll never become a customer.
Spreading brand awareness ensures more people recognize your company’s name—and there are several ways to do this. The main way to do this in today’s digital setting is to ensure you have a good SEO strategy.
SEO boosts your online visibility and position on SERPS (search engine results pages). The idea is that when leads search for something using keywords that are relevant to your company’s offering, you’ll appear at the top of that search.
Don’t just look at high-volume keywords, though. Bottom-of-the-funnel keywords with high buying intent raise your ranking, too. High-volume keywords will drive new traffic to your website.
2. Leverage social media
If you operate in a B2B sector, then social media may not be your first focus.
However, LinkedIn alone produces a staggering 80% of all B2B leads. That doesn’t mean you’re shooting fish in a barrel. You still have to put the effort in to engage with potential customers. But you can employ several tactics on LinkedIn to target those leads.
- Have a premium account to filter searches and identify visitors.
- Establish authority by posting regular thought leadership pieces or informative articles.
- Build connections with colleagues and potential leads.
- Get endorsements from previous customers and connections.
- Use a LinkedIn ad campaign to grow your reach.
You can also utilize other social media platforms relevant to your business and where you know you can find quality leads. Do your research to identify which platforms your target audience uses.
3. Optimize your landing pages
It’s one thing to drive people to your website. Engaging them is another.
Think of your landing pages as virtual shop windows. You need to ensure the content on these pages is engaging and informative and that it represents a significant step forward in the buyer journey.
Depending on the context, landing pages should signpost the next steps you want customers to take. It may be that you want them to take an action such as signing up for a webinar, booking a demo or a free trial, or contacting your sales team.
To do this, you might provide persuasive content such as your ESG reporting standards, case studies, or testimonials.
Ensure all your landing pages:
- Have relevant, informative, persuasive, and engaging content written by a real person.
- Answer questions or identify how to solve problems and pain points.
- Have a clear and compelling CTA that drives the visitor to take a desired action.
- Have been A/B tested for best results.
- Are optimized for mobile access.
4. Pay to promote
A targeted strategy doesn’t mean you should abandon paid ads. If anything, it can improve the efficiency and ROI of such ads as you can now target them at your prioritized segments. It’s another area where A/B testing can be useful to identify the content and platforms that perform the best.
The major caveat with paid ads is that if you get it wrong, your ROI may be negative. Look at what works for competitors or consider outsourcing to someone with a proven track record.
5. Implement chatbots and self-help options
In the early stages of your sales funnel, potential customers may have a lot of questions. Chatbots allow you to answer those questions 24/7 and can answer many common or simple questions to move leads to the next stage of their journey. They can also feed contacts into your CRM and flag those who show high intent for your team to take instant action.
Another useful tactic here is to ensure that your website has an effective self-help section with a range of resources, from FAQs to engaging podcasts. This will allow customers to access the information they need when they need it.
For example, a customer may want to know how your EPM system compares to others. The self-help section could contain links to independent reviews or comparison sites.
6. Maintain a good sales cadence
We live in an omnichannel era and sales cadence can help you diversify and maximize your reach across the channels your potential customers prefer.
Establish touchpoints across multiple channels that encourage leads to make connections. Those channels can include voicemail, LinkedIn, emails, and so on.
Implementing a good sales cadence can be complex, so personalize your approach across all relevant channels without coming across as pushy or intrusive. Your cadence can be tailored to the segments you have identified and prioritized.
7. Nail your cold calling
Cold calling can be a contentious issue in B2B. But despite the numerous digital channels today, research shows that cold calling is still alive and well, with 49% of buyers preferring to be contacted over the phone.
The very fact that tools like CRM and VoIP integration exist shows how many businesses are turning (back) to the telephone.
In the context of targeted lead generation, you’re not just dialing random numbers; you’re trying to establish contact with a potential customer that you know will have interest in your products.
If you are going to cold call, there are some factors that can improve the chances of success and turn cold calls warm:
- Validate any leads beforehand to ensure they’re high quality.
- Before the call, try and nurture them via LinkedIn or email.
- Be concise and clear during the call. For example, don’t give a 20-minute speech on your product’s benefits. Stick to the most relevant points that align with the lead’s problems and actively listen to them in turn.
- Reflect on each call and score them. Analyze how every call went so you can tweak your pitch and improve performance.
The takeaway
How you approach targeted lead generation will very much depend on the sector you operate in. However, most of the strategies listed here will benefit your business even if you need to customize them slightly. If done properly, the benefits of targeted lead generation will be similar regardless of the products or services you offer.
One thing to note is that targeting the leads most likely to convert does not mean completely abandoning other prospects. It’s a case of prioritization and efficient allocation of your resources. By prioritizing different segments, you can have a list that you gradually work through.
Start by creating a tiered list of targets that align with your ideal customer profile, then determine how best to allocate resources.