Why There is No Such Thing as An Exclusive Lead

Many B2B marketers still believe in the myth of the exclusive lead and that sales success only comes with exclusive leads. This may have been true in 1980, but in today's world of online marketing, exclusive leads are virtually nonexistent. As revealed in studies detailed below, the reality is customers will do diligent research before settling on one vendor. Additionally, price is not the most important factor for comparing vendors.

If you want to turn your leads into sales, you need to know your customers and what they're looking for. Are they seeking value, or is it all about the lowest price? Do they compare several vendors or just go with the first one they find?

A recent research study by B2B International found that not only do B2B buyers compare vendors, they also favor quality and reliable delivery over price when choosing a vendor. As seen in the chart below, study results show that 100 percent of buyers surveyed considered quality to be the most important factor in their buying decision. Reliable delivery was ranked second by 84 percent of participants, and 76 percent gave pricing third place when comparing vendors.

What prompts potential buyers to search online?

Researchers at Enquiro found that information gathering is the primary objective of potential buyers online search activities. Over 70% of respondents perform online searches to learn more about a product or service or to compare it against alternatives. When we add "reading reviews" as a possible intent, the total is over 80%. This behavior shows that search activity precedes purchase decisions in a huge number of cases.

How can these insights help you turn leads into sales?

Awareness that your prospects are likely comparing your services against others can give you an advantage over your competitors. Knowing that your prospects are weighing price against quality of service, you can tailor your sales message to emphasize specific ways in which your company delivers quality service. Remember, the large majority are not looking for the cheapest provider, but the one that is the best match in terms of features and service quality.

Of course, this requires that your company actually does offer a level of service that differentiates you from your competitors. Perhaps you will find there is opportunity for improvement in this area. Strengthening the quality of your services in measurable ways will give you a definite advantage when it comes to closing sales.