16th Feb, 2021
Marcom, , Designation
- Demand capture presents unique challenges and enterprises need to weigh a lot of performance factors and strategic issues to drive conversions.
- Here are some actionable tactics that enterprises can leverage to productize demand capture and drive business forward.
The term demand generation and demand capture are often used interchangeably, but they aren’t the same. Demand Capture is a process that capitalizes on the success of demand gen and goes step further by seeking more qualified leads.
As per a survey from Hubspot, 61% of marketers find demand capture as their number one challenge with b2b lead generation or demand generation. Besides, only 5-10% of qualified leads convert successfully for marketers. Lead conversion isn’t as easy as it seems, and so is demand capture. Hence, here are some creative marketing techniques that can help businesses to get on their target customer’s radar and capture demand.
#1 Know when to think beyond personas
Conventional persona thinking limits progress, while analytics-based personas help businesses to maximize accuracy. Enterprises need to understand that personas are an artificial construct that can cloak real demand. Hence, enterprises need to diversify their database by augmenting account personas.
A data-driven customer acquisition framework helps enterprises in reaching high-value prospects, minimizing waste, and expand net new business. Watch this video, to know how this framework can improve the size of the pie.
#2 Just accounts don’t serve the purpose. People are also needed to close deals.
One mistake that almost 80% of marketers make is that they just layer on targeting at the account level. Targeting accounts isn’t just enough because the real goal of marketing is to identify the real demand in the market. For closing more leads, businesses need to know exactly who the accounts are. Businesses need to understand customer behavior and rely on market insights to find out where the biggest chunk of demand sprawls, and from where they can drive revenues.
#3 All website traffic isn’t a potential connection
There are a lot of instances when businesses lose forests for trees. A lot of website traffic feels like a nice-to-have from a reputational perspective. However, the connection of website traffic to actual demand for prospects might be feeble. Businesses should focus on intent data and opt for database management services and whitespace discovery to identify real people.
Fortunately, there’s still time
50% of valid leads in sales pipelines are nowhere near a benchmark. But luckily, there’s still time for businesses to improvise. The foundation of a successful demand capture program starts from the right database. Enterprise b2b lead generation services providing companies are powering their demand generation campaigns with a database strategy.
So, organizations can buy and leverage a scalable, contactable, and reliable b2b database that captures the whitespace or gaps in b2b contact list and embrace a focussed approach.
An intelligent b2b Database Management system can enable sales and marketing professionals to gain access to high volumes of prospect data for their demand generation campaigns in a heartbeat. Moreover, it enables enterprises to quickly identify prospects who are most likely to become next new customers for the organization.
Get the sales intelligence to expand net new business. Contact Denave database experts to fuel your demand generation marketing campaigns.