Nearbound leads are a game changer for B2B companies.
They yield 43% better win rates and can increase the size of deals by 41%.
If you work in marketing, sales, business development, or partnerships, it's probably a good idea you know what Nearbound leads are and how to find them.
We'll list the two types of Nearbound leads, the three key benefits they bring to your business, and how to generate more of them. By the end of this post, you should be ready to start adding them to your strategy.
Nearbound Leads are accounts that already live in your ecosystem. They are the customers or prospects of your partners. The aim of using Nearbound leads is to drive revenue together with other companies through data sharing, co-marketing, and co-selling.
Partner-qualified leads are net new leads from partners in cases where the business has not introduced the leads in question. In this case, a partner will send contacts to you, but they will not have already made the introduction or recommended your business to the prospective customer or client.
Partner-recommended leads are leads that other companies within the ecosystem send having already made an introduction or a recommendation. For example, the partner may have targeted the leads through an internal or joint marketing campaign. The lead will already be warm, meaning there is a higher chance of a conversion.
Numbers don't lie.
- 41% increase in win rates with Nearbound deals.
- 43% increase in deal size with Nearbound deals.
- Almost 50% of companies surveyed by Hubspot, Partnership Leaders, and Canalys made at least 26% of their revenues through partners in 2022.
The bottom line, you drive more revenue when you tap into the power of Nearbound leads.
But more revenue isn't the only benefit of Nearbound leads. They also:
1. Accelerate sales processes
By sharing data and leads, partners can benefit from smoother, more efficient, and faster processes while also enhancing the quality of leads to boost conversion rates. It can remove some of the more laborious, and dare we say it, tedious parts of business development like prospecting and outreach. Instead of having to do them yourself, you've now got an ecosystem that is helping you to do that.
And not only are they giving you new leads, but they probably also have relationships with them, so they can make introductions if needed and also vouch for you, which makes the whole sales process less of an uphill struggle.
2. Find the gaps
Partners can help you not only plug gaps in your current market and vertical but also help identify new ones.
Think about it this way. You've only got a CRM that has 500 contacts in it. That CRM is heavily skewed towards you and your sales team's network. Now add another 500 contacts from your partner's ecosystem, some of them will be the same, but a lot won't.
Then do it again with some of their partners.
You'll start to get a network effect, with the impact being that there will be a whole host of businesses, verticals, and markets you otherwise would have never spotted.
3. Open up new business development opportunities
Statistics from BCG show that 83% of digital ecosystems include partners from at least three industries. Over 50% of ecosystems involve partners from more than five sectors.
That means there are some serious business development opportunities within Partnership Ecosystems.
By sharing data, reselling, and referring customers to partners, businesses can access new markets and customers and explore opportunities to increase sales through schemes or ideas they might have yet to consider.
There are three main ways to get Nearbound leads into your pipeline, including:
Before you can start benefiting from Nearbound leads, you need to ensure that you have a business ecosystem or a partnership program.
We won't go into all the details of setting up a partnerships program, you can find that in our Building a High Impact Partner Program academy course, but there are a few key areas you need to cover:
Top Tip: You can use our partner scorecard template for free to analyze partners
Then once your network expands, you can submit and share high-quality leads (a.k.a. Nearbound leads).
Here are three main ways in which you can use Reveal’s account mapping to fuel your pipeline with highly-qualified leads:
The greater the number of overlaps, the more likely it is that they’ll have significant influence within your ecosystem and are someone that you will want to work hard at maintaining a relationship with.
The end result is that you should have a list of prospects that you know your product/service will solve one of their problems and you’ve got someone who is able to make a warm introduction for you.
This feature will help you evaluate the size of the lead and the overlap it has with your partners (is an easy way to prioritize leads), because you’ll have a good idea of the potential deal size and that there is some sort of synergy with your product.
Nearbound leads are leads that come from partners from within the same business ecosystem or network. By working together, partners can boost lead generation, attract new customers, optimize lead quality, accelerate sales processes, and capitalize on business development and growth opportunities.
This Masterclass is for all Partnership professionals who are ready to make their account mapping practices generate tangible ROI. Learn how to (finally) start producing the revenue that partnerships mapped the right way can produce.