“I need more lead acquisition!” is usually the beginning of most customer conversations when talking about business priorities. That’s why as 2020 planning begins, and DemandGen the company turns lucky number 13 (we’re a teenager!), our focus has turned back to the first floor of the Demand Factory ™ .
In a world governed by machines and data, DemandGen defines lead acquisition as “the processes around generating new leads.” That sounds simple enough, but the processes involved in acquiring leads aren’t what they used to be.
What does this mean?
While lead acquisition has historically been channel-focused, the number of available channels has skyrocketed over the years. So, a multi-channel focus can invariably include a lot of different things: webinar solutions, lead syndication, offsite programs, and — yikes — list buys.
A few years back, savvy marketers began using data tools like our partner Mintigo for target account prioritization and intent-based insights. Because lead acquisition tends to be heavy on multiple channels, however, there can be challenges on the integration and data side — which can disrupt and even derail such lofty efforts.
This requires ongoing data append and cleansing activities to give lead nurturing accelerator programs a boost. And those lead nurturing programs require a lot of content, which can be labor-intensive.
So, how can you improve your “processes around generating new leads?” To answer that, let’s look at the four most important components of a solid lead acquisition strategy and framework:
Conversion path optimization
What is it and why is it important?
I like to think of this as identifying and optimizing all the paths a potential customer might take before talking to someone. These can include forms, demos, free trials, click to chat, AI bots, and even social selling. Ultimately, you want a prospect to take an action. If they don’t, or if they don’t know where to go next, what’s the point?
Content strategy and activation
What is it and why is it important?
This is a tough one. Many of our clients still struggle with content strategies (or a lack of one). Depending on your company’s state of content maturity, I typically see this as a mass leveraging of the best written, visual, and artistic content and messaging across channels. A content distribution calendar helps here.
Campaign tracking and attribution
What is it and why is it important?
Marketers have gotten a lot better here — largely driven, I believe, by the focus on attribution by the C-suite. Almost all paid channels have tracking mechanisms in place. Vendors like our partner Integrate can even clean, append, and check for necessary compliance issues before the data gets to your CRM. This is a must and something we get asked to help with quite a bit. Campaign tracking and attribution are also a must in order for your acquisition strategy to scale and expand over time.
Data optimization
What is it and why is it important?
Data has become such a pervasive challenge for marketers that DemandGen built an entire Data Operations services team to help address it. Roughly 30 percent of customer data is inaccurate (which isn’t surprising given that contact databases typically degrade about 22.5 percent each year). Data fuels so many initiatives: personalization, lead scoring, segmentation, the above-mentioned campaign tracking and attribution, and more. It’s absolutely essential in order to provide a seamless customer experience.
In the 15ish years the term demand gen has been around, lead acquisition strategies have slowly evolved from a numbers game to a focused pillar of the Demand Factory that looks at multiple optimization, conversion, and content approaches.
That’s why DemandGen exists, and why we created a proven blueprint for success. Contact us today to learn how our experienced consultants can help you navigate this part of the Demand Factory.
Will Waugh is a consultant for DemandGen focused on helping clients with demand generation, lead management and leveraging marketing technology. He genuinely believes that data can change the world. Follow him on Twitter. Other articles by Will Waugh: Consuming Too Much MarTech? 3 Steps to a Successful Stack
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