In this age of e-commerce and information technology, B2B marketers are focusing solely on the revenue aspects of the companies along with content marketing, customer centricity and marketing automation. These aspects fall under their B2B marketing strategy without which companies would not be able to achieve their business goal. Taking into account all these aspects and strategies, if companies can integrate these components perfectly then it becomes easier for them to build and administer the latest B2B demand generation methods.
Even with all the efforts put together, B2B demand generation can fall apart while execution. According to the B2B market results, almost 70% of the demand generation efforts for B2B appointment setting fail to target business prospects. In another study, technology marketers have reported an average opportunity pipeline contribution of mere 27%. For successful implementation of demand generation, companies need to bring in human resource processes, technology and content, and make them work in perfect harmony. This will ensure that buyers are aware of the products and the services that are on offer. Moreover, combination of these key elements will ensure coordination between sales and marketing team members for seamless tracking and hand-offs between the technology systems.
If you are looking to provide a first-rated, value-added buyer experience while at the same time optimizing the lead to revenue conversion, then you need to approach the entire lead generation process as a clinical method and adopt a new design ethic known as demand process stewardship. So, now the question is that despite all the efforts and right intentions, why we fail to make the most out of the B2B demand generation process. There are certain fundamental barriers that hinder the optimizing process to achieve maximum success.
- Lack of organization in the process of demand generation
The main objective of the B2B demand generation process is to enable a company to be on the right track of revenue generation. Yet most sales people fail to achieve this marketing objective due to lack of coordination. It is better from the company’s perspective to organize the method on the basis of communication channels and not just simply rationalizing the sales and marketing roles in terms of how they are going to contribute to the B2B process. The communication channels play a huge role in the B2B market campaign and the most commonly used channels are PR or email marketing along with other activities such as campaigns and events.
Most companies focus on B2B campaigns that are short and promotional, and fail to take into account the perpetual nature of the buying process. To avoid this situation, marketing efforts should be re-devised by taking into consideration lead management, lead nurturing and lead conversion. This also helps in identifying the team that will be able to shoulder the process of stewardship.
- Lack of understanding of B2B demand generation and B2B appointment setting process
To ensure that the process runs successfully, companies need to manage their operational dynamics by understanding the process itself and deliver results that are goal oriented. Yet, it becomes difficult for B2B marketers without proper training to perform these marketing tasks satisfactorily. Most of the problems that B2B marketers go through are usually related to communication, messaging and sales enablement. The failure to address metrics and revenue performance to optimize the demand generation method can make the entire process ineffective.
- Evaluating demand generation performance
Managed-process evaluation on a regular basis is of utmost importance. Awareness about the achievement of the desired outcome is also an important factor. Marketing executives in the consumer space will agree that achieving success with marketing techniques mean accomplishing the desired objective i.e. sales. Yet, B2B sales reps or marketing executives still rely on activity based on metrics to evaluate B2B demand generation process. But, they rarely mull over the flexibility and correlation between the marketing programs and their revenue results.
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With huge years of experience in web industry, Aedan writes articles for IT industry ad have also organized different seminars related to b2b telemarketing and lead generation company.
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