How do some of the most notable companies leverage technology, resources, and measurement systems to drive demand generation and customer loyalty within their organizations? Recently I had the chance to catch a talk from David Lewis, the CEO and President of DemandGen, a Bay area-based company best known for its award-winning lead-scoring and nurturing methodologies. DemandGen has helped hundreds of clients like Apple, eBay, Chevron, Cisco, American Express, Dupont, DHL, and HP establish marketing best practices, implement effective lead-management programs, execute global marketing programs, and produce measurable results.
What I most enjoyed about the talk was hearing about how some of the best companies use marketing automation to not only “make marketing matter more” within their organizations, but how they build and scale programs that actively handle marketing objectives even while their employees are sleeping. At one point during the talk, a small business owner asked a question along the lines of “I don’t see how this applies to me? It only seems as though marketing automation to this degree is something that a huge team could handle at the enterprise level.”
After a brief pause (and I’m paraphrasing here), Lewis responded that in fact an extremely small team actually handles the majority of their back-end automation work for particular clients, and that as more companies adopt this approach of attracting, converting, measuring and expanding their customer reach digitally, the more mainstream this technology will inevitably become.
Another key takeaway for me from this talk, was the importance of understanding what to measure and why. Creating and tracking measurement systems that accurately translate ROI is perhaps one of the most pivotal steps for helping to make marketing matter more within the organization, because if you can’t communicate clearly where marketing is creating value, then what?
For tips on how to ask the right questions that lead directly to uncovering marketing’s value, Lewis suggests focusing on KPI’s that communicate marketing’s contribution to revenue, as well as the strength of the funnel. Sample questions you might ask yourself include:
- How much revenue is marketing sourcing or influencing?
- What are our top performing campaigns?
- What are our best lead sources and channels?
- Are we achieving our demand generation targets?
- How many net new leads do we need to meet a future revenue goal?
In addition to asking these type of questions about your marketing approach to help uncover value, it’s also important not to get too caught up in the science and the details and remember that marketing automation really boils down to the following continuous three phases:Marketing to create a “demand factory” follows the three, continuous phases of build, automate and optimization that of course tie back directly to the business’ key goals.
If interested in this topic, I highly recommend you check out Lewis’ book Manufacturing Demand. A summary quote about it from Amazon.com reads:
Historically, the discipline of marketing has been heavily skewed toward a subjective art at the expense of a measurable science. But the days of hunches, intuitions, and incomplete or misleading perspectives are rapidly disappearing. Today, savvy marketers and forward-looking organizations are embracing innovative new models driven by cutting-edge technology and analytics to align sales and marketing, pinpoint (and respond to) customer needs, and achieve breakthrough revenue gains.
In Manufacturing Demand, marketing guru David Lewis, CEO of DemandGen International, reveals the transformations taking place in marketing today, including the rise of the marketing geek and the emergence of the so-called fifth and sixth P s of marketing: Process and Programming. You ll learn about the key practices and principles of creating your demand-generation factory : buyer personas, the demand funnel, lead scoring, lead nurturing, and analytics.
Click here to learn more about the book.