Demand generation—challenges & solutions
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Demand generation—challenges & solutions

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The demand generation process involves varied measures directed towards increasing consumer/prospect awareness about the brand and its offering. Demand generation is not a one-time step, but a......

The demand generation process involves varied measures directed towards increasing consumer/prospect awareness about the brand and its offering. Demand generation is not a one-time step, but a critical, continuous process. More significantly, even though demand generation is primarily a marketing function, it is closely tied to sales. Hence there’s a need for marketing and sales to integrate to provide a holistic view of the customer/prospect. Automation of the demand generation process can play a vital role in increasing the effectiveness of the business’s demand generation strategies.

This article provides an overview of the challenges faced in the demand generation process and discusses corresponding solutions.

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  • 1. DEMAND GENERATION—CHALLENGES & SOLUTIONS
  • 2. Executive SummaryThe demand generation process involves varied measures directed towards increasing consumer/prospectawareness about the brand and its offering. Demand generation is not a one-time step, but a critical, continuousprocess. More significantly, even though demand generation is primarily a marketing function, it is closely tiedto sales. Hence there’s a need for marketing and sales to integrate to provide a holistic view of thecustomer/prospect. Automation of the demand generation process can play a vital role in increasing theeffectiveness of the business’s demand generation strategies.This whitepaper provides an overview of the challenges faced in the demand generation process anddiscusses corresponding solutions.Challenges in Demand GenerationThe Demand generation function today presents the following challenges: INFORMED CUSTOMERS - Customers now have access to a lot of information. Whether it is through the web, peer reviews or even business competitors, customers suffer no dearth of Every business has its information when it comes to learning about a competitors delivering a product or service. Generating revenue with such well-informed customers means the business has similar message. The challenge to be far more thorough and informed about is to ensure that the business’s customer requirements and needs. voice is heard loud and clear FOCUS SHIFT TOWARD THE CUSTOMERS - As amidst all the noise created by customers become more knowledgeable, its competitors. businesses have to shift focus to the customer. It is not about what the business has to offer, but about what the customer expects. All facets of the business, from marketing and operations, to finance and sales, have to be customer-oriented. MULTIPLE CONTACT CHANNELS - Customers have the choice of reaching out to a business through multiple channels. Sometimes, the business is not even aware of its contact with a customer until the last few stages of the sales cycle. Customers often check out the business and its offerings using different tools such as social networking platforms, company websites, 3rd party websites providing reviews, other social media tools like blogs, and book-marking sites. The business has to modify its demand generation efforts in order to connect with its prospects at these newly emerging touch points. COMPETITION & CUSTOMER ATTENTION - With today’s business environment being extremely dynamic, businesses are vying with one another for customer attention. Every business has its competitors delivering a similar message. The challenge is to ensure
  • 3. that the business’s voice is heard loud and clear amidst all the noise created by its competitors. One solution is to engage the customer in a meaningful, value adding conversation. OTHER INTERNAL PRESSURES - Apart from the above mentioned challenges posed by the external business environment, companies also faces challenges that are a result of its internal environment. Most commonly, these include Automation of the demand o The pressure to provide ‘more generation process empowers qualified leads’ - The sales team business by allowing it to perennially accuses the marketing respond in real-time to team of not providing them with qualified leads. This is often cited prospect behavior, connect by the sales team as one of the with prospects across various reasons for not being able to close communication channels, and leads. use personalization to deliver o The pressure to provide increased a superior customer sales support - In most experience. companies, there is a huge disparity between the number of people working in marketing and sales. The marketing team, often quite understaffed, is under tremendous pressure to support the sales team by delivering on their requirements while still adhering to short timelines and high targets. o Justification of marketing budget - The pressure is always on marketing to justify its budgets and show a defensible return on marketing investments.Advantages of Automating the Demand Generation ProcessAutomation offers a structured, continuously interactive approach to the demand generation process. Itstreamlines the process and provides marketing with valuable prospect/customer data, which can beused to increase the overall effectiveness of the business’s demand generation strategy. Automating thedemand generation process typically offers the following advantages COMPLETE CUSTOMER VIEW -Because of their ability to integrate a business’s marketing and sales processes, demand generation software programs provide the business with a holistic view of its customers/prospects. Once the marketing team has a 360⁰ view of its prospects, it can modify its demand generation campaigns to complement prospect behavior. Consider a commercial Banking and Insurance Group that has the capacity to create 360⁰ views of its customers. The marketing department
  • 4. would know what type of assets are held by its clients and use that to design specific demand generation campaigns for various appropriate financial products. This yields greater response than mass-produced promotions are able to achieve CUSTOMIZATION - Automation lends a greater degree of personalization to the demand generation process. By automating demand generation campaigns, the marketing team can lend a personal touch to its communication. As discussed earlier, one of the major challenges faced by marketing teams in demand generation today is the need to stand out from their competitors. Personalization attracts attention by offering more individualized offerings within the target market CONTENT SYNDICATION - As prospects/customers interact with the business on various platforms, there’s a need for the business to utilize these numerous channels to drive home its message. Advanced demand generation automation software programs have built-in content syndication mechanisms that enable the business to consistently deliver the same message across all communication channels. For example, automation can help a business replicate a demand generation campaign across various media, such as e-mails, brochures, flyers, landing pages, blogs and more. DECREASED TURNAROUND TIME - Automating the demand generation process enables the business to respond to customer interest in real-time. For example, when prospects click on an e-mail, they can be directed to the landing page. If they request more information from the landing page, a FAQ sheet can be automatically e-mailed to them. This reduced response time helps maintain customer attention.SUMMARY - Automation of the demand generation process empowers business by allowing it torespond in real-time to prospect behavior, connect with prospects across various communicationchannels, and use personalization to deliver a superior customer experience. Internally, it improves thequality of leads and enables improved sales support by providing a holistic view of the prospects.Ultimately, automating demand generation can help a business to improve the overall effectiveness ofits demand generation strategies and gain a competitive edge in the market.
  • 5. For the past 14 years, MindMatrix has been aligning sales and marketingfunctions for over 20,000 sales and marketing professionals across 200companies, from diverse verticals through its innovative sales andmarketing software and solutions.Unique to the industry, MindMatrix offers Next Generation MarketingAutomation software on a single unified platform for Sales and Marketing.Our solutions bring about a seamless integration of the 2 functions helpingour clients derive the maximum benefit from their investment in m arketingand sales automation.Contact me today to know more about how MindMatrix solutions can helpyou align your marketing and sales processes for improved results.