Some people might still not be accustomed to the word MarTech which is the abbreviated form of Marketing Technology. In recent years, MarTech has been booming.
When Scott, the VP of Platform Ecosystems at Hubspot and the editor of chiefmartec.com categorized marketing technology in 2011, there were just 150 then. But now, there are more than 7000 categories this year.
With context being the king in the MarTech world, it’s hard to keep up with the pace of changes.
So, what should be done?
Listening to inspiring people talk about their perspective of the B2B marketing technology is a great way to stay updated about the trends in demand generation and lead management.
According to David, the CEO of DemandGen, “Digital marketing is a journey. It is a journey that never ends. You never get to the end destination, but there is a road map that you need to start on.”
In this article, we will be talking about the five key areas of demand generation and lead management;
- Buyer personas
- The demand funnel
- Lead scoring
- Lead nurturing
We will also discuss the changes that happened during the past five years in terms of MarTech.
How has Demand Funnel’s Usage Changed?
The Demand Funnel hasn’t undergone many changes and everything is still the same in many ways. The main difference is that the demand funnel presently represents individual contacts completely.
Account-Based Marketing has been gaining more popularity recently. Thus, the companies that have AMB as a part of their strategy needto engage more of the buyer personas at each stage. Thismeans that marketers have to measure engagement across an account and not just the conversion of one prospect.
Not Just Buyer Personas, Think Target Demand
After Account-Based Marketing (ABM), the way in which companies approach lead management has changed remarkably. The very first principle that companies follow tends to be ‘know your buyer’, which is nothing but putting together buyer personas.
Additionally, companies also concentrate a bit more on another principle – ‘know thy target’ these days. Why? Because with the birth of ABM technology, people are given the power to establish their targets and operationalize it into systems. So companies can simply go after the accounts and roll up the engagement.
Not Just Scoring Individual Leads, Think Measuring Account Activity in the Funnel
Earlier, lead scoring as the phrase suggest was all about scoring individuals earlier, but not anymore. Currently, we are given the ability to roll up engagement to the account to gain better insight about overall engagement with the account.
Currently, it is a number of people with low lead scores upfront and a lot of activity carried out by multiple people as you take a step back. Such insights can prove to be very helpful for salespeople to make wise decisions.
Not Just Email and Landing Pages, Think Omni-Channel Nurturing
Now, let’s talk about the two major changes that happened to lead nurturing. The first change is all about the methods of contact. Nurtures have gone from mere email to omni-channel, all-bound, inbound and outbound. Furthermore, SDR cadences, display, events, retargeting, mail, and other techniques are active parts of the nurturing process nowadays. The second major change is the effort to systematically engage multiple buyer personas.
The Ultimate Answers to Never-Ending Struggles with Sales
Getting sales organization on the same page has proved to be one of the primary problems faced by many of the B2B marketers. Neither of the sales or marketing teams wants to be ruled by the other. It creates a kind of tension between both teams and negatively impacts the end results.
The best way to solve this issue will be to align both the teams of your organizations together and let them work through constant interaction. Like salt and pepper, sales and marketing work better together.
A Glimpse into the Future
As we take a glimpse into the future of demand gen, it is true that sales and marketing should be aligned together and lead management should be practised to be successful. Additionally, consider, operationalizing the demand factory. Make sure no changes are applied here.
Instead of buying and using 7000 MarTech tools, decide on a dozen or more of the really-well integrated and well-leveraged tools. This will help companies restrain from spending money like drunken sailors and buying things considering it will be the next Holy Grail.
In the upcoming years, smarter investments are where companies should concentrate. B2B marketers will have to learn to make the most out of the existing tools before moving on the next big thing.
Marketing Organizational Structure:
Marketing departments constantly require restructuring. Align and build teams in such a way that even the head of demand generation is proficient in the MarTech stack. You also require different team leads, one for marketing operations, one for demand generation, and so on. Like this, you will have someone who solely concentrates on programs, and another person to work with the systems and lead their teams there.
Even better, you need to have more people in your department who are responsible for ABM, data orchestration, and analytics. You don’t want jack-of-all-trades working for you but people with speciality skills for doing things that matter.
The Major Result of Marketing
What is the most important thing marketing should do?
Though this might sound pretty odd, marketing should work on getting respect from sales. The marketing team needs to do a phenomenal job to help the sales team crush their numbers because they get what they want from the marketing team.
So again, it needs to be stated that the sales and marketing teams should work together towards a single goal.