The 3 Ps of Successful Demand Generation
Behind every profitable and thriving business lies a smart marketing strategy that is called successful demand generation. While having the 'best list' provides a quick start it doesn't automatically propel you to a smooth finish. Stimulating and sustaining demand together with shrewd lead management and active CRM ensure that you will get there ahead of your competitors.
The 3 Ps make a powerful demand generation strategy. Make an effective process your vehicle, put patience in the driver's seat and power it up with perseverance. The results will be significant.
Marketing gurus have said time and again that the first step of successful demand generation is a harmonious marriage of marketing and sales. Your marketing and sales teams must align their goals and unite their efforts if you want to see results. Are your key personnel on the same page? It's not going to happen overnight, so get started right away. Demand generation is not just about technology, it's about driven and experienced people with a similar vision following an effective process to increase ROI. Next comes, lead acceptance and management. Which means you must have an efficient automated process in place to track, measure and analyse your qualified leads. Hot leads must be given to sales at the right time, while those that are not ready have to be nurtured till they are ripe. Do you have a lead funnel for scoring, ranking and routing or are you just pushing prospects and leaving your reps to spend valuable sales time (getting frustrated and losing momentum) sifting between the hot, warm and the cold.
When done right, demand generation has extremely rewarding results. However, creating and sustaining value 'demands' patience. You want to make sure your efforts have a lasting impact and that means committing to finishing the marathon. Successful demand generation works hand-in-hand with sustained lead nurturing and management. Hot prospects might be quickly converted to sales but need to be kept in the loop through regular CRM and reinforced brand value. Turning up the heat on the others takes smart sales and marketing strategies, and effort. Typically, at least 60% of your prospects have to be carefully nurtured. The process is continuous. Savvy and effective marketing scores customers because it uses patience to make the best of every prospect that has come your way.
If all of us only went after low hanging fruit (amounting to only 10%), there wouldn't be much to talk or write home about. Besides, numerous studies reveal that 80% of sales take at least 6 calls. Perseverance and shrewd marketing are responsible for converting maximum leads to your advantage. The times are tough and even the most successful businesses cannot afford to give up on a potential customer. After all, your loss is your competitors' gain. Persistence keeps you ahead of the game. Plan to win the war not just a single battle.