A Story From the Front Lines of B2B Lead Generation: Accounting
If there’s one accounting firm that all others can learn something from, it’s this one. This isn’t just a success story about lead generation for accountants, it’s a success story for B2B lead generation in general, and every business can learn something from it. This accounting firm is one of our longest-standing and most successful clients of all time. Keep reading to find out why.
The Lead Generation Program: What Made the Difference
So, why was this particular client far more successful than any of our other lead generation partners? It wasn’t luck, and it wasn’t even about the work. The main reason that this accounting firm is such a successful, long-standing client is because they went into the sales pipeline building process with extremely realistic expectations.
They knew if they talked to a prospect today, it would probably be a year before they closed business with them
When this accounting company was evaluating different lead generation solutions, they recognized upfront that if they talked to a prospect today, it would realistically be a year before they actually closed business with that prospect.
Most companies, when they put money into something, they expect to see incredible results within six months. If you go into a program that involves cold calling and have a realistic timeline in mind, this is an extremely thoughtful perspective that many other companies wouldn’t have. This accounting firm had realistic expectations about cold calling, and the result has been a 10x multiple of their initial investment.
They knew extremely well how things worked in their industry
Any B2B business needs to recognize that building a sales pipeline takes time. However, it’s different for every industry. As far as statistics for accounting lead generation go, after the first phone call is made, it typically takes several months before a meeting is scheduled. This specific accounting firm knew how things worked in their industry. They knew that if they cold called someone today, it was going to seem completely out of the blue to the prospect and it would be a long time before a deal is actually close. Having these expectations made their program more successful in the long run.
They did not compare B2B appointment setting to other lead generation strategies
One of the biggest reasons companies find themselves so unhappy with B2B appointment setting programs is that they compare it to other tactics for generating leads. For example, this accounting client relied on mostly referrals before working with us. Instead of thinking, “I’ll close half of these deals because every time I get a referral, I close half of those,” they took B2B lead generation for what it actually was: a completely different approach to generating leads.
If an accounting company talks to a prospect today who isn’t currently evaluating accounting services, how long (realistically), will it be before they close a deal?
A lead that is generated from a cold call is completely different from a warm referral. This accounting client understood that and wasn’t expecting the same result. If you don’t know the difference between different lead generation tactics (inbound marketing vs. outbound marketing) and you don’t know the difference between a web lead, cold call lead, warm referral, etc., you won’t have the right mindset going into a B2B appointment setting program.
Results: Incredible Numbers and a True Partnership
Because this accounting firm’s expectations were realistic and they had years of experience in their industry, their lead generation program has been wildly successful. They closed their first deal in their ninth month live and have generated more than 10x their initial investment from opportunities our Sales Development Representatives (SDRs) generated.
Here’s what the accounting firm had to say about working with Abstrakt:
“We stopped tracking revenue generated from Abstrakt efforts after $1M. But, if I had to guess, they’re likely in the $5M range in closed business from them.”
This accounting client approached us pragmatically, and said ‘if they spend X and we generate Y, they have it figured out.’ Even though accountants are number people, they typically don’t understand the difference in close rate from a warm referral and a cold call. Our accounting partner did understand this; and now, they’re one of most successful clients.
Here’s what one of our partners at Abstrakt had to say about this partnership:
We’re not under a microscope anymore; we’re part of their team, we’re part of what they do. All because they trusted in our process from the very beginning; its paid off big time for them.
Jason BahnakPartner, Abstrakt Marketing Group
Most companies would’ve cancelled. This accounting firm didn’t do that. They had trust and faith in the process and didn’t pull the plug. The result? A 10x multiple on their investment. They did the math on how much they could close from cold call leads, and because of that, the program has been a smashing success.
Lead Generation for Accounting Firms—Let’s Get Started
Accountants are number people; yet, when they invest in a marketing program, they want to see results right away. But that’s not how the world of lead generation works if you calculate it properly. As an experienced lead generation company, we understand that better than anyone. And our accounting partner understood that, too, which is why they’ve been so successful.
Building a sales pipeline takes time. A cold call takes time to convert into a deal. But once you have a sustainable sales pipeline, the waiting pays off. Do your calculations, have realistic expectations, and you won’t be disappointed by what B2B appointments setting can do for your business. To start building your pipeline and increase your revenue, schedule a meeting with us today.