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The Top 6 Lead Generation Challenges for 2010

“Never test the depth of the water with both feet.”

Anon.

Another year passes. And what a roller coaster it was too. But I can’t be alone in thinking that for many of us in business the drama of the economic crisis appeared to be played out in the media circus rather than in our immediate experience. OK, so selling hasn’t got any easier, but compared with the predicted high street Armageddon that was set to befall us in the wake of the banking collapse, the fallout has been almost innocuous.  Wherever I go I meet people who are both surprised and relieved by the continuing health of the day-to-today economy – at least relative to what was prophesised by the doomsayers.     

But lest we become lulled into a false sense of security, we do well not to let our guard down too soon. Instead let’s wait and see what happens when interest rates return to normal levels and the government’s quantitative easing plan is brought to an official end. Watch this space.  

In the meantime, here are my top 6 lead generation challenges for the new economy. See where your own marketing efforts sit on the effectiveness scale.

 Challenge # 1 – getting heard above all the racket

If you’ve been involved marketing for any length of time, you’ll know that most marketing messages dissolve into the ether without trace.  Of course, that’s always been the nature of the game.  But it’s getting harder.

Prospects are bombarded with a confusing array of seemingly identical marketing messages from competing businesses.  So here’s the challenge. Can your sales and marketing message:

Grab the attention of enough marketing-weary buyers to gain the necessary market share?

Be heard above the voices of your competitors?

Get you to stand out from the crowd?

Challenge # 2 – reaching the right people

There are exceptions, but the general rule of thumb is that the easier someone is to reach the less likely they are to buy from you.  Inexperienced marketers spend too much time pitching their wares to low-level prospects.  But the majority of purchasing decisions are made – or at the very least signed-off – by senior managers who are mostly insulated from unsolicited marketing.  Spam filters, gate keepers, voicemail and good old fashioned cynicism – they all conspire to make your marketing campaigns as difficult as possible. So ask yourself, can your message:

Get through to senior decision makers?

Make an impression on busy senior managers?

Get them to engage with your business or product?

Challenge # 3 – delivering quality information that your prospects actually need

Most conventional sales pitches invite a ‘so what?’, or ‘what else would you say?’ response from prospects.  Buyers place little or no value on this type of marketing.  So here’s the test:

Are you providing your prospects with the right information to make an impact?

Is it good enough to shape the opinions or influence the purchasing decisions of senior people? 

Challenge # 4 – shaping requirements and influencing the buying process early on

Buyers frequently don’t bring prospective vendors into the loop until the buying process has begun.  The result is that the vendor arrives on the scene after requirements have been set and a competitive bidding situation has already begun.  The challenge for marketers is to become involved in the buying cycle from the outset.  So how effective are you at:

Influencing the buying process?

Encouraging your prospects to involve you in the early stages of their buying process?

Challenge # 5 – instigating and sustaining a meaningful conversation

The ultimate test of any marketing campaign is the level of engagement it generates.  This means developing a two-way communication with your prospects.  And you get to this point by convincing them that you’re worth listening to by demonstrating your worth.  This way you get to influence your prospects and you’ll be foremost in their minds when they’re ready to buy.  How effective is your marketing at engaging with prospects:

Is there a reason for buyers to want to opt-in to your marketing?

Are you able to sustain an ongoing conversation?

Is your marketing message effective at generating a response?

Challenge # 6 – generating demand

Attempting to generate demand by only targeting prospects that are already searching for a solution to their problem can be compared to focusing exclusively on the tip of an iceberg while ignoring the fact that 90% of it remains hidden beneath the surface.  Those people out there who are already shopping are vastly outnumbered by those who may not yet have a budget, or perhaps are even unaware that they have a need.  Reaching this group on a regular basis is the key to keeping your sales pipeline filled with warm prospects.  The challenge:

How to identify those with unspecified future needs?

How to generate demand where none currently exists?

How to motivate those who are not yet in buying mode into taking action?

To answer these questions it demands that we challenge traditional lead generation methods. It means making the shift from generating leads to nurturing contacts.  And to meet this challenge it requires a radical change of mindset. More on this soon.

And finally…

Faith Hope & Charity

Fulton Sheen once spoke at an inter-faith rally in Baltimore. Having been welcomed with wild applause, he raised a hand, waited for the crowd to settle down and began his address: “When you applaud me at the start, that’s faith; midway through, that’s hope. But, ah, my dear friends, if you applaud me at the end, that will be charity!”

Thanks for reading. As ever, your comments and ideas are very welcome. 

And always to a higher response!

Norman

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