How to Master Audience Mapping with the Science of Demand Generation

B2B marketers today are very aware of how demand generation can benefit their business and their marketing objectives. Despite this, demand generation is rarely approached in the right way, with many B2B marketers under-appreciating - or entirely avoiding - some of the most fundamental elements of a successful demand generation strategy.

How can marketers today enhance their demand generation strategies and take their approach to the next level?

In this blog, we'll explore the areas of demand generation that are often looked over, and how these can be improved to better enhance your demand generation approach. This includes:

·        Looking at who to target within an organisation - Understanding the decision making unit enables questions to be answered all the way up the decision tree with your approach.

·        Account-Based Marketing (ABM) brings your Sales and Marketing teams closer together. Aligning teams better around a single set of target accounts will deliver better account-level ROI. We'll take a closer look at the strategies companies are favoring.

·        Analyzing the 5 key triggers of intent data will help businesses gain a better understanding about digital buying behavior, and help companies move away from legacy 'in market' models.

How to Improve the Quality of Leads Coming into your Business

Everyone knows identifying a target audience is important, but more important is the traits in that data you are looking for. If you have an existing customer base, this is the best way to start.

In line with knowing what your most rewarding customers look like, you also need to know what the least rewarding look like. Look introspectively at what customer demand suit your internal capabilities. Long-lasting relationships are what will benefit your business foundations and generate lasting customer value, therefore as well as understanding the cost of acquiring a new client and the financial reward, forecasting best fit for a long lasting relationship, will mean avoid just a short term benefit.

Modelling Your ICP

Once you have your ICP (Ideal Customer Profile), you are then in a position to model your ICP. The modelling of your ICP increases your opportunity in the market. Using firmographic data - like company size, turnover, install base, vertical, industry, etc. - will allow you to identify what your total addressable market. However, if you can understand more about your buyer behavior, you can extend this further, to buying cycles.

Behavior from research, who are those influencers that gather opportunities, who then evaluates those opportunities and what do they need to see to put forward suggestions to the decision maker and budgets holders, who will see the biggest direct benefit of your service and how can you approach that to show each decision phase what they need to see.

Predictive Intent leverages this knowledge to identify patterns or similarities to inform future trends, actions or behaviors. You can look at the features of your best leads, target accounts, and customers, and then model lookalikes that are highly likely to engage with your content and convert into ROI. 

Predictive Intent leverages this knowledge to identify patterns or similarities to inform future trends, actions or behaviors. You can look at the features of your best leads, target accounts, and customers, and then model similar audience that are highly likely to engage with your content and convert.

Don't Focus Only on the Budget Holder

We understand that businesses want to target the person that can Yes or No instantly - but in reality, this is difficult to achieve. Demand Generation embraces the fact that a purchase touches many different parts of that organisation and although the budget holder may have the final decision, making sure that the stakeholders have also been considered in the approach takes into account the internal team.

Decision making isn’t linear - rules exist to protect people, business and buying process. If you fail to acknowledge the rules exist, you are limiting your sale potential. Budget holders can sign off budgets within limits, especially when you are looking at enterprise, and normally it requires an internal business case and tiered investment sign off.

Recent research highlights that the DMU now includes an average of 6.8 people. An approach that recognizes a matrixed organisation is paramount in todays world. Even if you can sell to the decision maker, if the team isn’t incorporated into the decision process then it is unlikely to have longevity.

Once you accept that the decision making unit is more than 1 person, it allows you to concentrate on how you communicate better with the people

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Created on Oct 26th 2020 10:35. Viewed 224 times.

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