How to build a B2B lead list for Lead generation

Who will you connect with today?

These people should be on your list of potential customers. However, many companies waste time and miss opportunities because they use old and wrong lists.In this article, we’ll provide suggestions on creating a B2B sales contact list that can elevate your outreach efforts. Let’s get started!

What’s a B2B lead list?

A B2B lead list is a collection of potential customers you can contact during your sales efforts. These lists consist of businesses that match your ideal customer criteria and provide various information, including:

  1. Company name and size
  2. Important decision-makers
  3. Contact information (like email, LinkedIn URL, phone, as much info you can get.)

While these details are crucial, top-notch lead lists offer even more information for each potential customer. Now, let’s explore the elements that define a high-quality B2B lead list.

What defines a top-notch B2B lead list?

Gathering information stands as a crucial part of finding potential customers. It directly impacts your early sales stages and your overall profit.

So, if you’re in the process of creating lead lists, you should set some standards for a high-quality list. Here are the main qualities that matter:

  1. Number and quality of Leads

    A larger pool of potential customers boosts your chances of getting responses and setting appointments. It also provides more opportunities to discover high-quality prospects. Plus, it helps safeguard against data decay and errors.

    While it may sound like having more leads is always better, that’s not necessarily true. Quality is equally important. A larger lead pool can be beneficial, but without a focus on quality, you may end up with a high quantity of uninterested or irrelevant leads. This can result in wasted time and resources. Balancing quantity with quality ensures that you engage with prospects who are genuinely interested in your offerings, improving your chances of conversion and maximizing your resources effectively.

  2. Structure

    The usefulness and effectiveness of a lead list also depend on how well it’s organized and presented. A poorly structured list leaves room for mistakes, while a consistent format enhances ease of use, efficiency, and overall functionality.

  3. Data Sources

    A high-quality lead list adheres to ethical standards and complies with regulations like GDPR and CCPA. In simpler terms, it only includes leads that have given clear consent to be part of the list. Poor data sources can harm your brand reputation and lead to legal and financial issues.

    It’s essential to be cautious of claims that someone has a ready list of your Ideal Customer Profiles (ICPs). In reality, if multiple marketers are approaching the same leads, the quality of such lists can be questionable. To ensure the best results, it’s often better to build a new list from scratch for each new campaign you run. This approach allows you to target fresh, interested leads and maintain the quality of your outreach.

  4. Type of Data

    A top-quality B2B lead list goes beyond basic information to include advanced data points, such as a company’s structure, technology stack, annual revenue, and more.

  5. Accuracy

    The quality of a lead list is closely tied to its accuracy. If the list contains double-verified and up-to-date details for each prospect, it’s likely to generate a higher return on investment due to its precise and relevant information.

  6. Targeted Lead Data

    Another crucial factor for a good B2B lead list is the relevance of the target audience. Your prospects should align with your buyer personas and fit your Ideal Customer Profile (ICP). A strong match ensures you’re reaching the right prospects instead of taking shots in the dark.

Now that we’ve outlined what makes a quality list, let’s explore how buying business leads compares to building your lead database.

How to Create a High-Quality B2B Lead List

Let’s walk through the five fundamental steps for building a lead list that delivers significant impact and a strong return on investment (ROI).

Step 1: Define Main Pain Points

The first step in creating a high-quality B2B lead list is to clearly define the main pain points your product or service addresses. This critical foundation sets the stage for a successful lead generation campaign. Understanding the specific challenges your target audience faces allows you to identify the ideal prospects who are most likely to benefit from your solution.

By focusing on these pain points, you can tailor your lead list to include individuals and businesses that have a genuine need for what you offer, increasing the chances of meaningful engagement and conversions. This initial step is the cornerstone of an effective lead generation strategy, ensuring that you connect with the right prospects and build a list that drives results.

Step 2: Define Your Ideal Customer Profile and Buyer Personas

Every lead generation campaign begins by identifying your target buyers. However, when constructing your lead list, take an extra step. It’s crucial to establish your ideal customer profile (ICP) and create buyer personas for maximum effectiveness.

Your ICP pinpoints the best-fit clients for your business, and buyer personas help your sales team understand the ICP better. Together, they outline key characteristics of your ideal prospects, such as:

Here’s how you can narrow down your ICP and buyer personas in this initial step:

The preliminary research in this first step will bolster your efforts in the following steps.

Step 3: Understand Which Data Source to Use

Segmenting your leads is the key to unlocking the full potential of your lead list. Lead segmentation streamlines your B2B outreach strategy, speeds up your efforts, and yields better results.

Let’s explore a few parameters for segmenting your lead list:

  1. Demographic Data: These factors are less likely to change, making it easy to personalize your approach. This layer includes details such as age, education, profession, location, language, and more. Consider these as the initial layer in your lead segmentation process.
  2. Sales Triggers: Create another layer in your list based on sales triggers—events or actions that provide opportunities to engage with prospects. Examples include when leads download e-books, change jobs, or request demos. Segmenting leads according to sales triggers helps categorize people with similar interests or behaviours, enabling more personalized messaging.
  3. Technographic Information: In the B2B space, your prospects’ technology stack is a crucial parameter for lead segmentation. Consider these factors when segmenting your prospects based on technographic data:
    • Hosting provider
    • Monthly tech spending
    • Automation tools in use
    • Sales and marketing software stack
    • Choice of CRM, ESP (Email Service Provider), and other essential tools

Segmenting your leads using these parameters enhances the effectiveness of your outreach and helps you connect with the right prospects more efficiently.

Step 4: Understand Which Data Source to Use

When creating a high-quality B2B lead list, choosing the right data source is paramount. Begin by identifying the most suitable data source for your specific needs. For example, Sales Navigator is an excellent choice as it provides in-depth professional data. Once you’ve selected your data source, delve into defining the essential filters. These filters act as your criteria for narrowing down your ideal prospects. By understanding these criteria, you can tailor your outreach messaging effectively.

For instance, if you’re targeting CEOs in companies with up to five employees, your approach will differ from reaching out to CEOs managing larger organizations. You can also consider filters like the number of social media followers, annual revenue, company growth trends, or job opportunities. Each filter provides valuable insights for crafting personalized and compelling messages to engage your prospects effectively.

Now, when evaluating data platforms, Sales Navigator stands out with its up-to-date information. Another viable option is Apollo, although it may occasionally yield less relevant results. Crunchbase, among the top three databases, offers a rich source of company lists. Once you’ve gathered a list of companies, you can further explore relevant individuals on Sales Navigator.

These platforms provide cost-effective solutions for building your lead list and have proven to deliver impressive results. Before venturing into pricier options, give these platforms a try and witness their efficacy in helping you construct a high-impact B2B lead list.

Step 4: Consider the Hierarchy of Target Audience

As you dive into the process of collecting data for your B2B lead list, it’s essential to consider the hierarchy of decision-makers. Typically, you’ll encounter two key categories: C-level executives, such as CEOs or top-level decision-makers, and secondary-level managers responsible for ideation and conveying proposals to higher-ups. While the C-level executives are often the primary focus, don’t overlook the importance of engaging secondary-level managers who can influence decisions.

When building your searches and targeting parameters, think strategically. Identify your priority one (CXO level) and priority two (managers, project managers, etc.) individuals. While your specific priorities may vary, creating a balance between top-level executives and managers can yield promising results. In many cases, a combination of both can be more effective than focusing solely on one category.

Step 5: Collect the Data

Now that you’ve established your target profiles, you can begin collecting data. Several methods are available for this purpose. The three primary options include using Google Chrome extensions, hiring freelancers, or collaborating with a specialized agency.

While Google Chrome extensions are a convenient option for data collection, exercise caution. Some platforms like Sales Navigator can detect these extensions, potentially leading to account bans. Furthermore, the reliability of such extensions varies, so they should be used carefully.

Platforms like Fiverr and Upwork provide access to freelancers who can assist in building lists and providing data. When working with freelancers, provide specific search criteria and verify the data they deliver. It’s crucial to ensure data accuracy, especially for emails or telephone numbers.

Engaging with an agency like Axellerato that specializes in data collection is often a more reliable and ethical approach. Agencies typically offer higher data quality and comprehensive services. They employ teams responsible for data collection, verification, and advanced targeting, enhancing overall data quality. When working with agencies, you can inquire about data verification and quality guarantees.

Step 6: Implement an Analysis, Validation, and Refresh Workflow for Your Lead List

The final step in creating B2B lead lists is the crucial process of fine-tuning the list for its ultimate use. The quality of your leads depends directly on your analysis, validation, and refresh workflow.

Let’s explore best practices to carry out this workflow effectively:

Analyze: Begin by cleaning your data thoroughly. Check for duplicates, incorrect information, outdated contacts, and other errors that can hinder performance.

Validate: Identify the critical factors for validating your list, such as job titles, company size, and more. Utilize automated tools or establish a manual workflow for data validation based on these factors.

Refresh: Set up a regular campaign to refresh your lists, removing outdated information. You can also add new leads and update existing data to enhance accuracy.

Create an Effective Lead List with These Proven Tips

Developing lead lists may appear daunting, but the hard work you invest will result in higher lead conversion rates and increased revenue. Follow this comprehensive guide to establish a robust lead curation process. Don’t hesitate to experiment and refine your approach as you proceed, and always emphasize quality over quantity.

If you require additional support to boost your revenue, Axellerato can act as an extension of your team, providing our expertise. Contact us today to discover more about our services.

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