A business that does not practice segmentation in lead generation is one that is not going to be able to effectively market to their prospects. When you segment your leads into specific lists, you will be able to utilize your database much easier and achieve better results when you start approaching your prospects. One reason as to why some businesses cannot achieve proper segmentation is because they do not know how to do so in the first place.
If you have a sales pipeline that is jam-packed with business to business leads, you will find that dealing with each and every single one of your leads presents itself as a challenge. You are going to have to make contact with your prospects and gauge their level of interest in your company. Next, you may have to qualify them according to a traditional approach such as with BANT (budget, authority, need, time). But even when you do this, that doesn’t mean you will be able to start throwing full-blown marketing offers at each of your prospects.
Lead segmentation allows you to make the process of dealing with your prospects easier and more free-flowing. So fear not if you do not have that much knowledge on segmentation because we have put together a few tips to help you out in doing it.
Segment according to prospect behavior based lead generation method.
Not every prospect you meet will exhibit the same behavior as another one you are currently dealing with. As such, your lead generation methods can affect just how you approach them in the future. If you want to segment your leads, you can do so by understanding your prospects’ behavior depending on how you generated them as a lead for your business.
Of course, we have many ways in which we can generate leads today, some of which are through email marketing, content marketing, B2B telemarketing and appointment setting. Different people you come in contact with will respond differently to your approaches so it is best to use their receptiveness to your lead generation methods as a basis for segmentation. For example, a prospect that becomes a lead from a single cold call may not show the same level of interest and behavior as one that you successfully set an appointment with through appointment setting.
Segment according to company size.
An easy way to segment your business to business leads is through the size of your prospect company. Who do you cater your services to? Are you more attuned to service small, medium or large companies? What behaviors have your prospects from different sized companies shown when you approach them? Asking yourself these questions is essential when you want to be able to segment according to company size.
Segment according to budget.
Taking from the first letter in BANT, you can also segment your leads according to the budget that your prospect company has. Of course, a company with a higher budget will be one that will most likely be willing to pay for your product/service. However, going on budget alone is not a good way to formulate an effective approach with your leads. That is why aside from segmenting according to budget, you should also have other criteria with which you practice segmentation with.
Actually, BANT already serves to be a good basis with which to practice segmentation with. However, you should have your own criteria in place to segment prospects you encounter through lead generation. After all, what’s the purpose of having a lead generation campaign when you can’t even handle your leads properly?