We intentionally took a break in blog postings over the past couple of weeks, both to acknowledge that everyone would much rather focus on their families over the holidays, and to do the same with ours. This has also afforded the opportunity to reflect on some key topics before us. So here goes.
Our last blog posting referenced the ubiquity of process and the opportunity to deliver step-change value at nearly every phase of the customer value chain. In this post, we will focus on the top end of the growth funnel ? that of lead generation.
We are talking and working with multiple companies who have realized the shortcomings of their respective customer opportunity funnels ? both for B2B and B2C business models. Their stated frustrations ? also known as symptoms ? take many inter-related forms: our cost of lead acquisition is too high; our cycle time to generate a qualified lead is too long; the quality ratio of our generated leads insufficiently aligns with sales needs; we are unable to effectively attribute source of lead to closed deals; and we lack required agility to change our lead generation engine when market dynamics call for a shift in lead criteria.
Peeling the onion back on these scenarios typically yields the conclusion that these challenges are driven by ineffective process management, manifest in multiple forms: lack of clarity on the true value drivers; considerable waste (complexity); flawed systems integration; and a systemic inability to understand the real-life ?process? that people actually have to follow in the trenches.
Our rapid assessment methodology has been incredibly successful at enabling visibility into the challenge that marketers ? CMOs thru administrators ? face in getting the job done. More importantly, our Blueprint deliverable provides much-needed clarity and confidence for the road to success.
Our prescription for this is extremely targeted:
1) Establish clarity on the process value deliverable (what are the attributes of a quality/qualified lead?)
2) Gain visibility into the current process(es) and an understanding of process failures (where are the breakdowns?)
3) Explore system-driven process failures (where is the marketing automation platform and/or sales automation platform part of the problem?)
4) Prioritize intervention alternatives, typically landing in a transformation roadmap
5) Manage the migration, measuring improvements as you go to ensure value capture and allow course correction as learnings naturally occur
Simply put ? there are proven methods for yielding considerable improvement in the lead generation process of nearly every business.