Seven Rules of Demand Generation
Mark Frasco - President
July 2014 – We all love lists. I’ve never done a list in this space. I’ve submitted a number of proposals for speaking engagements over the years and it seems that the list presentation always gets selected. Here’s one I’m presenting in November at Fabtech, this coming November.
So, here we go, Seven Rules of Demand Generation:
- Strategic Focus – Market strategy informs our decisions about where to apply limited resources to their most optimal use. Good strategy should help us decide what not to do, as much as what to do. Focus on the important few.This video will help you with the process of determining strategic focus.
- Build your Ideal Customer Profile – The Ideal Customer Profile should describe a customer that will always get your attention and interest, regardless of how busy you are or how content you might be. In those market segments you choose to focus on, determine what the characteristics/traits are of your best and worst customers. From those lists of customers, begin to identify the characteristics or traits that make them and others like them, highly desirable or not so. Size of company, SIC code, location, type of operations, etc. This form might be helpful.
Using that profile, build a high-value target list for your demand generation efforts. This video will help you build a high-value target list.
- Brand Engagement – Plan, develop and protect the look and feel of your brand. Build brand standards that make your brand a consistent reminder of your value propositions. Build meaningful engagement mechanisms, including calls-to-action that go beyond building awareness. Every interaction that your organization or your people have with the market creates an impression – make it a memorable one.For more on building a memorable brand, watch this video.
- Make Waves – Create long-term interaction plans with your prospects and customers that create a rhythm of learning and communication. Train your prospects and customers to expect regular, positive interaction that builds trust and dialogue.Only through interaction can your organization begin to build and maintain trusting relationships. Be sure to maintain regular interaction that over time makes your organization memorable and credible.
As you design Wave Plan, or interaction plan, this form might be useful.
- Keep Score – A fact-base should be built, made broadly available and used to inform decisions. Face the facts, identify trends and act accordingly.Use CRM to organize data. Build Opportunity Filters to help you evaluate the value of an opportunity. Create a TIP (Top Interested Prospect) Report that catalogues all the opportunities in your system, their value, time to decision and probability to win. Measure all activity and results. These sample tools will be helpful as you design how you keep score of your demand generation efforts.
- Process Trumps Technique – Sure, technique matters, but sales success is due to far more than technique – it’s the deliberate design and implementation of a process that rhythmically communicates your value to the market and learns about a prospect’s motivation to buy, giving you a distinct advantage against the competition.Enough said.
- Unyielding Dedication – Dedicate resources solely to this effort – this is not a part-time job. And heed the words of Thomas Edison, “Many of life’s failures are people who did not realize how close they were to success when they gave up.”Demand generation is an important function in any organization. We dedicate people, design procedures and processes, and build performance systems around every functional section of our companies – accounting, purchasing, operations, but when it comes to building demand, most organizations have no dedicated people, processes in place or a performance system.
My hope is that this list will positively disrupt your mindset about business growth possibilities. Now, if you’ll excuse me, I have to go make some waves.
Questions or comments? Please contact Mark Frasco at mfrasco@teamCOACT.com.