Tom Levers

The New Marketing Revolution of Demand Generation

Posted in MARKETING by Tom Levers on December 30, 2008

Marketing has changed more in the past 3 years than over the past 30

Just think about the reaction you would have received three years ago if you heard that Sun Microsystems was going to encourage employees to blog and set up a contest for its employees, asking them to make the best YouTube video to advertise Sun products. 

Unquestionably a marketing revolution has been unleashed and we see all sorts of marketing organizations talking about new brand experiences. The focus is on customer engagement, in particular trying to reengage consumers who find a lot of the tried-and-true marketing techniques of the past–direct mail (including e-mail), telemarketing, advertischange4ing, not generating the results they once did. By utilizing the old with the new, content is now the key building block of how companies want to engage their customers. The new approaches, technologies and channels, have raised the expectations of the online prospect. Customers want relevant information on their terms and bi-directional communication. Moreover, businesses realize that reaching their customers without simultaneously alienating them is becoming more difficult. Two-way communication gives them a chance to talk to their prospect, instead of at their prospect. 

Measures are everything

With 2009 marketing budgets that are generally flat or decreasing, marketing professionals are under increasing pressure to show a return on marketing spending. The chief marketing officer needs to show relevance to the business, and do more with less, resulting in increased budget scrutiny and the challenge to deliver measurable return on investment (ROI). With the demands for more creativity and accountability, marketing organizations need to be part artist and part scientist.  So instead, marketing organizations need to produce structures to keep the creative…creative. This means fostering breakthrough brand experiences and simultaneously establishing better marketing discipline through processes, controls and metrics. 

Process practice… makes perfect

When you talk abtypewriter1out any process there is a basic lifecycle. In marketing conference rooms you often see documents to map out the process. The diagrams often represent the lifecycle stages from concept to content creation and through to delivery, metrics and feedback. 

 

The next step is to provide an underlying marketing infrastructure to orchestrate and execute on the process. To bring these marketing process diagrams to life, the global brands use a common technology platform. This is so people can seamlessly work with the content, through the process approvals, plan or budget activities, to deliver marketing messages to multiple channels: print, web, mobile and by geographic markets.

 

Solution: Integrated Demand Generation 

To drive marketing performance to new levels, marketers have begun to embrace and implement integrated demand-generation. Unlike delivering marketing as separate tactics, we must synchronize the entire spectrum of offline and online marketing to include speaking panels, word of mouth buzz, email, direct mail, interactive and traditional advertising, SEO, call center, tradeshows, partners programs, and the sales force.  There is an integrated marketing tool box that drives the metrics, methods and processes for the new customer experiences:

Creative –> For users to create compelling content. Platforms to reduce creative bottlenecks, streamlining access to content and creative functions like user experience designers,  so that you don’t make a 1990’s mistake of creating websites from brochures. Delivery –> Web interaction, mobile, video, social networks and integrated communications provide pull to your brand… not just push, but bi-directional and highly dynamic communications. Innovative examples include an XML-based publishing system for multi-channel make a publishing and the ability to participate, capture and report on user generated content, such as blogs and product rankings. Interface –> New interactive experiences are being driven by new Web-based applications and interfaces, including interfaces written and maintained expressive web applications that deploy consistently on all major browsers, desktops, and operating systems. Less clicks, more interaction and the ability to create information context are the goals of better interfaces to drive customer experiences. Innovation examples include facet search, intelligent guides and Flash-based applications. SEM and Analytics –> The Long-Tail and other segmentation models have driven a need to better map message content and segments. The market sees a lot of innovation around how analytics, user-generated content and reporting with campaigns is integrated. Manage your SEO, SEM and Google Analytics (okay, it was Urchin 3 years ago!) Brand Management –> Managing digital brand assets so you can search, access, modify, and repurpose rich media, including photographs, design graphics, interactive media, video, and flash animations. Central repository, intelligent content hanging and workflows helps ensure the right assets are used with the right campaigns. Interactive Communications –> Deliver highly personalized and dynamic content through multi-tactical publishing of thought leadership. Promote bi-directional communications with Web 2.0. Web content management, dynamic XML delivery and publishing workflows help ensure the right message is delivered to the right audience. Marketing Resource Management –> Campaign plans, calendars and budgets, including integration into MRM applications. Reporting and dashboard functions help ensure campaigns are executed on time within budget. Relationship Marketing –> The sales funnel depends on a progression: inquiry to lead to qualified lead to opportunity to sale. Yet, too few companies have a documented and agreed-upon demand-creation and management process between their sales and marketing organizations. According to research conducted by CSO Insights, these companies pudemand-generation2t themselves at a significant disadvantage. Companies with mature, defined lead-generation and management practices have a 9.3 percent higher sales-quota achievement rate than companies that do not, a 16.5 percent higher conversion rate of leads to first calls, and a 7.0 percent higher sales-win rate. The statistics strongly suggest that the impact of documented marketing processes at the top of the funnel is felt deep into the sales pipeline. Leverage relationship management. These processes help ensure that you execute segmented campaigns and turn leads into sales. For organizations with longer sales cycles and higher price-point solutions, process alignment is critical to sales performance. Often the opportunity size between deals that were the target of marketing campaigns while in the sales pipeline versus those opportunities that sales team shielded from further marketing campaigns resulted in the delta in average selling price of several hundred thousand dollars was striking, suggesting that marketing can dramatically increase deal size when it is properly aligned with sales.

 

 

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