B2B companies face different buying cycles based on whether or not their product and/or services are a commodity or of a more structural nature. It is critical that B2B companies have a clearly defined lead generation strategy to:
- Attract new prospects
- Track and manage already identified leads
- Ensure that the value of their existing customer base is maximized
It is safe to assume that most B2B companies are fully aware of the above three pillars, but what sets them apart from each other is how they go about making all this happen. Some companies will rely heavily on lead generation technology to help them get there. What they forget is that it takes people to manage this process. Other companies will try anything to hit the home run which may end up hurting their business over time; there is no cadence to their approach. These are not sustainable models to grow your prospect database.
Companies now have the opportunity to utilize tools without capital expenditures. Understandably, this may be very tempting for some but once engaged, they are likely tied in for the nearer to longer term. I have not even taken into account the opportunity cost factor of having the wrong strategy and approach.
Marketing Leadership at Successful Technology Companies
At ALEA, we work with some of the major global technology companies. We also advise and serve a few smaller size players. The issues at both ends of the spectrum are as diverse as they are common. Invariably it boils down to the type of stable marketing leadership a company enjoys. In a recent post, I shared a 10-point checklist for achieving marketing leadership. Click here to read it.
The one thing that most B2B organizations have in common is the need to generate high quality leads. A recent survey published by Marketing Sherpa’s 2011 Marketing Benchmark Report lists the following as priorities:
- Generating high quality leads
- Marketing to a lengthening sales cycle (especially true for technology companies)
- Increasing perceived value in “cutting edge” product benefits
- Enhancing and leveraging public relations “buzz”
- Competing across multiple media for lead generation
- Marketing to a growing number of people involved in the buying process
78% of respondents said they found quality lead generation an increasingly difficult task (this figure is up from 69% last year). The above listed priorities are certainly challenging but they are to be expected. Lead generation and marketing companies need to get organized to respond and provide solutions around each of these B2B industry-wide challenges.
What are you doing with your prospects, leads and customers? I would love to hear about it on my blog. Leave me a comment.
