By David Crane
geralt / Pixabay
The larger and more established an organization becomes, the more complex the demand creation function. This is true for many things, but for B2B marketers, the effect is especially compounded.
As businesses grow, sales pipeline requirements do as well – and more rapidly than the total available market. This means that we marketers must continuously develop and refine new engagement strategies, channels, content, nurturing tactics, analytical and optimization efforts, etc. as our businesses scale. In other words, our marketing successes lead to greater challenges.
Such new demand marketing challenges obligate us to adopt new marketing tech for efficiency, append data for greater insights that enable us to focus efforts, and test numerous new channels, content and engagement tactics to attract the accounts and personas we may have missed in the past.
To ensure sales pipeline maintains an upward trajectory, our marketing infrastructures become barely navigable webs of data, tools and processes that we can’t holistically measure or optimize.
That’s when our previous successes hit a wall.
Demand Gen Issues Becoming More Common and Troublesome
Though many organizations can keep a good eye on what’s working and what’s not, such growth pains often incrementally hinder key aspects of our demand generation programs and infrastructure (as well as those of marketing operations and sales).
Running demand programs is like playing a game of chess in which the rules change regularly. You have numerous specialized pieces and plays, all of which are interconnected. If anything is overlooked, it affects the entire team’s performance. It’s critical to be aware of growing demand gen problems and how to prevent, eliminate or mitigate each of them.
1. Trouble generating full ROI from events
B2B marketing organizations spend more on events than on any other demand marketing or tech investment (18% of budget according to Forrester). This puts much onus on demand marketers to attribute a great deal of pipeline opportunities to these events. Yet, most leads generated at events – conferences, trade shows, field events and webinars – are time-intensive to process and have limited professional or firmographic intelligence, diminishing their value. In other words, not only are events an sizable financial investment, in order for them to work, marketing teams must also invest a great deal of time and resources as well.
To ensure event investments translate to pipeline opportunities and revenue growth, B2B marketers must find ways to quickly:
- Process and route leads to the right nurture track our sales follow-up channel to capitalize on prospect interests and increase likelihood of conversion
- Enhance event-generated leads with the prospect data intelligence marketing and sales need for follow-up
Having a plan in place well before the event is key here. Do your homework on previous events. Find out how leads will be formatted, what they’ll contain, when you’ll receive them – and then develop a plan for filtering leads (e.g., deduplication), appending additional data to the contacts, reformatting per database requirements, and routing to proper follow-up channels.
The slower these processes occur, the less likely you are to convert contacts to opportunities, diminishing event ROI – which Business 2 Community
Source:: Business 2 Community